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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)]
Off the Charts: Supply Chain Angst: This week, the U.S. consumer price index for October showed a 6.2% increase from a year ago , the highest inflation rate since 1990, news that directly contributed to bitcoin’s mid-week surge to new all-time highs. What’s causing that inflation? Well, Bitcoin advocates and gold bugs argue that it’s all about the debasement of fiat currencies through massive printing. That perspective sees it as a self-perpetuating monetary phenomenon that will be very difficult for central banks to stop. You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletter here . Most mainstream economists attribute it almost entirely to the disruptions caused by supply chain breakdown in the wake of the pandemic. They say inflation is transitory, a temporary problem that will be resolved once shipping networks return to normal. The following chart doesn’t answer who is correct. But it does put some illustration onto the supply chain problem. This is the deep sea freight cost component within the Bureau of Labor Statistics’ producer price index for the past two years, drawn from the Federal Reserve Bank of St. Louis’s FRED database. (Federal Reserve Bank of St. Louis’s FRED database) The freight price index is up 20% from a year ago. Those rising prices will themselves feed into U.S. consumer prices downstream. More importantly, it’s a direct manifestation of the shipping logjam that is associated with and contributing to supply chain interruptions. It’s worth watching for signs that the supply chain problem is either worsening or correcting itself. || JPMorgan renews prediction that bitcoin could hit $146,000 - and says it's acting more like digital gold than ever: • JPMorgan has renewed its $146,000 long-term price target for bitcoin, which first made waves in January.
• The bank says bitcoin is increasingly looking like a digital alternative to gold in the eyes of investors.
• It said cryptos are "are an emerging asset class and thus on a multi-year structural uptrend."
JPMorgan recently published a deep dive into digital assets and it makes for happy reading for crypto fans - albeit with a few caveats.
The US's biggest bank has renewed its prediction thatbitcoincould surge to $146,000 in the long term, if volatility subsides and institutions start preferring it to gold in their portfolios. That's roughly 130% above Wednesday's price of $63,160.
And JPMorgan thinks bitcoin, which is also a scarce product, is increasingly competing with gold for investors' attention as ahedge against inflation. (That is, something that will rise even as inflation eats away at the value of other assets.)
"The re-emergence of inflation concerns among investors during September/October 2021 appears to have renewed interest in the usage of bitcoin as an inflation hedge," JPMorgan strategist Nikolaos Panigirtzoglou said.
"Bitcoin's allure as an inflation hedge has perhaps been strengthened by the failure of gold to respond in recent weeks to heightened concerns over inflation," he said. Inflation is running at a13-year highin the US and has surged around the world.
Panigirtzoglou said there is "little doubt" the token's competition with gold will continue, as millennials become more powerful in the investing universe, given their preference for cryptocurrencies.
"Considering how big the financial investment into gold is, any such crowding out of gold as an 'alternative' currency implies big upside for bitcoin over the long term," he said, suggesting a long-term price target of $146,000.
However, JPMorgan said that for the $146,000 price to come true, bitcoin's huge volatility would have to fall sharply, so that rules-bound investors feel comfortable adding it to their portfolios.
Bitcoin's volatility is currently around four to five times higher than gold, the bank said. That would have to fall dramatically before institutional investors plow in.
Read more:Crypto seems like nonsense. But lots of people keep getting rich from it. So am I the dumb one?
In a major caveat to its "theoretical" price target, JPMorgan said bitcoin's volatility is a big block to sustainable price rises. Its reputation among institutional investors took a blow duringApril and May's boom and bust, the bank said.
Indeed, JPMorgan reckons that volatility is such a problem that bitcoin's fair price is actually around $35,000 at the moment. Yet the bank said that the token's volatility is currently falling and that a price of $73,000 looks reasonable for next year.
However, bitcoin is wildly unpredictable. A surge above $146,000 looks entirely possible, given bitcoin's gain of more than 340% in the last year. But another plunge to below $30,000, as seen in the summer, is also a possibility, the bank said.
Either way, JPMorgan's global markets strategists appear bullish about crypto. "There is little doubt that cryptocurrencies and digital assets more broadly are an emerging asset class and thus on a multi-year structural uptrend," they said.
"Digital assets have emerged as a clear winner post the pandemic, with retail investors joining institutional investors such as family offices, hedge funds and real money asset managers including insurance companies in propagating the asset class."
Read the original article onBusiness Insider || Kevin O’Leary sees ‘trillions’ coming to crypto — but he still loves these dividend stocks: “For the first time ever, my crypto exposure is greater than gold.”
That’s what investment mogul and Shark Tank personality Kevin O’Leary told Stansberry Research in an interview earlier this month.
In fact, Mr. Wonderful plans to double his crypto holdings to 7% of his portfolio by the end of this year, largely because he sees “trillions of dollars” of interest coming into the space.
That said, O’Leary’s largest investment fund, O’Shares U.S. Quality Dividend ETF (OUSA), doesn’t invest in crypto at all — instead, it seeks businesses with strong profitability, balance sheets, and dividend growth.
While Bitcoin is certainly becoming mainstream, it’s still important to maintain ample diversification with income-producing stocks.
Let’s take a look at the top three holdings of O’Leary’s flagship fund. One (or all) of these dividend picks might be worth purchasing withyour spare change.
Home Depot(NYSE:HD) isn’t nearly as exciting as crypto, but it’s the top holding at OUSA, accounting for 5.3% of the fund’s weight.
The home improvement retail giant has around 2,300 stores, with each one averaging approximately 105,000 square feet of indoor retail space — a size that dwarfs most of its competitors.
One thing that makes Home Depot stand out is how well it performed during the pandemic.
Many brick-and-mortar retailers have struggled since the beginning of COVID-19. Yet Home Depot grew its sales nearly 20% in fiscal 2020 to $132.1 billion.
It even boosted its quarterly dividend by 10% earlier this year and now yields 1.9%.
Shares aren’t cheap, though.
After rallying more than 30% year to date, Home Depot trades at over $350 per share. But you can get a piece of the company using a popular stock trading app that allows you to buyfractions of shareswith as much money as you are willing to spend.
Tech stocks aren’t known for their dividends, but software gorilla **Microsoft ** (Nasdaq:MSFT) is an exception.
The company announced an 11% increase to its quarterly dividend to 62 cents per share last month. Over the past five years, its payout has grown by 59%.
So it shouldn’t come as a surprise that Microsoft is the second largest holding in O’Leary’s OUSA.
Business has been booming of late, largely helped by the pandemic-fueled demand for its cloud-computing and video gaming products.
Year to date, Microsoft shares have returned a whopping 40%, easily topping other trillion-dollar tech giants like Apple (11.8%) and Amazon (7%).
Of course, if you’re on the fence about jumping into tech stocks near all-time highs,some investing appswill give you a free share of Apple just for signing up.
Healthcare is known as a recession-proof industry.
With deeply entrenched positions in consumer health, pharmaceuticals, and medical devices,Johnson & Johnson(NYSE:JNJ) has been able to deliver remarkably consistent returns to investors through thick and thin.
Not only does Johnson & Johnson post recurring profits year in and year out, but it grows them consistently, as well: Over the last 20 years, Johnson & Johnson’s adjusted earnings have increased at an average annual rate of 8%.
Things are even better on the dividend front — the healthcare giant has raised its payout to shareholders for 59 consecutive years.
Not many companies have that kind of track record.
Year to date, shares are up just 3%. But for long-term investors, Johnson & Johnson is a name that should not be ignored.
The company is the third-largest holding in OUSA with a weighting of 4.9%.
Gold, crypto, and common stocks aren’t the only things you’ll find in Mr. Wonderful’s portfolio.
He also utilizes a "private" way to diversify and to profit.
If you want to invest in something that has very little correlation with the violent swings of the stock and crypto market, consider this overlooked asset —fine art.
Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich like O’Leary.
But with anew investing platform, you can invest in iconic artworks too, just like Jeff Bezos and Peggy Guggenheim.
According to the Citi Global Art Market chart, contemporary artwork has offered a return of 14% per year over the past 25 years, easily topping the 9.5% annual return from the S&P 500.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Bitcoin has intrinsic value, says Mike Novogratz: Billionaire investor Mike Novogratz has hit back at critics who say Bitcoin has no intrinsic value. The CEO of Galaxy Investment Partners, speaking in a TV interview with CNBC , said Bitcoins value was in its social makeup. People are buying Bitcoin based on the slow depreciation of the dollar, he said. We can get into philosophical debates about what value is a Matisse painting can run to $100 million because a small amount of people decide theyre worth $100 million. Over 150 million people around the world have decided Bitcoin is worth something -thats enough for me. He added: If Bitcoin is really a digital gold I still dont think its a huge worry and that it is a direct threat to the dollar. || Asian Stocks Down as Inflation Continue to Persist: By Gina Lee
Investing.com – Asia Pacific stocks were down on Tuesday morning, following a sell-off in its global counterparts. Concerns over surging raw material prices like crude oil, increasing inflation, and impacted economic recovery from COVID-19, also continue.
Japan’s Nikkei 225 slid 3% by 9:54 PM ET (1:54 AM GMT) and South Korea’s KOSPI fell 2%.
In Australia, the ASX 200 was down 0.73% ahead of theReserve Bank of Australia’spolicy decision, due later in the day. TheReserve Bank of New Zealandwill hand down its decision a day later, with theReserve Bank of India’sdecision following on Friday.
Hong Kong’s Hang Seng Index was down 0.63%.
Chinese markets are shut for a holiday. However, the country’s property sector continues to be on investors’ radars, with Fantasia Holdings Group Co. Ltd. (HK:1777)failing to repaya $205.7 million bond that was due Monday. Fantasia Holdings is the latest developer to face financial woes alongside China Evergrande Group (HK:3333).
Global shares have hit pause on September’s rally, and have dropped more than 5% since then. The U.S. Federal Reserve’s decision to begin asset tapering earlier than usual, a slowdown in the global economic recovery, and China’s regulatory tightening on the property sector have all contributed to this slowdown. The debate also continues in the U.S. on whether to increase the debt ceiling, with President Joe Biden warning that the government is at risk of breaching the legal limit in October.
“We think there is going to be more volatility in these markets. It’s not going to be the same sort of ‘risk-assets-always-go-up-over-time’ story that maybe happened in the rebound from COVID-19,” State Street (NYSE:STT) macro strategist Emily Weis told Bloomberg.
St. Louis Fed President James Bullard also suggested that elevated price pressures could be changing the mentality of businesses and consumers by making them more accustomed to higher inflation. The latest U.S. jobs report, includingnon-farm payrolls, will be released on Friday.
In cryptocurrencies, Bitcoin traded around the $49,000 mark and was attempting to breach the $50,000 for the first time since El Salvador rolled it out as legal tender in September 2021.
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Tesla ordered to pay over $130 million to Black former worker over racism -WSJ || Squares Cash App Generated $1.8B in Bitcoin Revenue in Q3: Payments firm Square said in its third-quarter earnings letter Thursday that its peer-to-peer payment service, Cash App, generated $1.82 billion of bitcoin revenue in the quarter and $42 million of gross profit, up 115% and 29% year over year, respectively. Bitcoin revenue and gross profit decreased in the third quarter versus the second quarter, however, Square said, citing the relative stability in the price of bitcoin, which affected trading activity compared to prior quarters. Square also noted bitcoin revenue and gross profit may fluctuate in future quarters given changes in customer demand and bitcoins market price. It said that may be particularly the case as we lap strong growth rates on a year-over-year basis in the fourth quarter of 2020. Squares total net revenue was $3.84 billion in the third quarter, up 27% year over year, while gross profit was $1.13 billion, up 43% year over year. On its third quarter conference call, the company said it will release a white paper on Nov. 19 regarding TBD, its new division focused on creating an open developer platform to build a decentralized bitcoin exchange. Square also said on the call that the company doesnt plan on offering users other cryptocurrencies outside of bitcoin. The company said it is focused on building its hardware wallet and continuing plans to allow individuals and businesses to mine bitcoin . CEO Jack Dorsey initially alluded to the latter plan in a tweet several weeks ago. Shares of Square were down about 4.9% in post-market trading following the release of its Q3 results. UPDATE (Nov. 4, 22:03 UTC): Added call commentary along with updated share movement. || Cream Finance Exploited in Flash Loan Attack Netting Over $100M: Decentralized finance (DeFi) money market and lending service C.R.E.A.M. Finance appears to have been the target of a devastating exploit Wednesday morning that drained over $260 billion in funds, likely the second-largest exploit to date. According to Cream’s native front end , most Ethereum-based pools are now empty with the exception of a $40 million $CREAM pool. As of Oct 23, the protocol’s Ethereum markets had $300 million worth of assets. Cream’s official Twitter account acknowledged the attack in a Tweet: We are investigating an exploit on C.R.E.A.M. v1 on Ethereum and will share updates as soon as they are available. — Cream Finance 🍦 (@CreamdotFinance) October 27, 2021 Per DeFillama, the protocol has an additional $460 million in total value locked (TVL) across Binance Smart Chain, Polygon, Avalanche and Fantom. It is unclear if those funds are also at risk. The funds appear to have been taken using a flash loan in a notably complex transaction that involved 68 different assets and cost over 9 ETH in gas. Of the $260 million lost, the attacker netted roughly $130 million in various cryptocurrencies, of which $40.6 million may be in illiquid crETH, a staked ETH derivative that may prove difficult for the attacker to sell. The attacker is now working to “wash” the funds primarily using Ren’s Bitcoin bridge. As is often the case following exploits, individuals are now using Ethereum transactions to ask for donations. A Cream representative did not respond to a request for comment by press time. UPDATE (Oct. 27 16:07 UTC): Added TVL information, market size information, and new developments from attacker’s Ethereum address. Removed reference to Curve’s 3Pool as a mixer. || NVIDIA Stock Is A Big Money Favorite: Said simply, that’s when a stock goes up in price alongside chunky volumes. It’s indicative of institutions betting on the shares.
Smart money managers are always looking for the next hot stock. And NVIDIA has many fundamental qualities that are attractive.
This sets up well for the stock going forward. But how the shares have been trading points to more upside. As I’ll show you, the Big Money has been consistent in the shares all year.
You see, fund managers are always looking to bet on the next outlier stocks…the best in class. They spend countless hours sizing up companies, reading reports, speaking to analysts…you name it. When they find a company firing on all cylinders, they pounce in a big way.
That’s why I’ve learned how critical it is to gauge Big Money demand for shares. To show you what I mean, have a look at all the big money signals NVDA has made the last year.
The last few weeks have seen Big Money activity, too. Each green bar signals big trading volumes as the stock ramped in price:
In 2021, the stock has attracted 24 Big Money buy signals. Generally speaking, recent green bars could mean more upside is ahead.
Now, let’s check out technical action grabbing my attention:
• 1-month outperformance vs. Vanguard Information Technology ETF (+17.89% vs. VGT)
Outperformance is important for leading stocks.
Next, it’s a good idea to check under the hood. Meaning, I want to make sure the fundamental story is strong too. As you can see, NVIDIA has been growing sales at a double-digit rate. Take a look:
• 3-year sales growth rate (+22.2%)
• 3-year earnings growth rate (+18.0%)
Source: FactSet
Marrying great fundamentals with technically superior stocks is a winning recipe over the long-term.
In fact, NVDA has been a top-rated stock at my research firm, MAPsignals, for years. That means the stock saw buy pressure, strong technicals, and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
NVDA has a lot of qualities that are attracting Big Money. And since 2015, it’s made this list 62 times, with its first appearance on 2/17/2015… and gaining 302.15% since. The blue bars below show the times that NVIDIA was a top pick since 2015:
It’s been a top stock in the technology sector according to the MAPsignals process. I wouldn’t be surprised if NVDA makes additional appearances in the years to come. Let’s tie this all together.
The NVIDIA rally could have further to go. Big money buying in the shares is signaling to take notice. Shares could be positioned for further upside. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a growth-oriented portfolio.
Disclosure: the author holds no positions in NVDA in personal or managed accounts at the time of publication.
Learn more about theMAPsignals process here.
Disclaimer
Thisarticlewas originally posted on FX Empire
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• CVS Could Rally Towards $100 as Covid Vaccines and Prescription Volumes Boost Earnings || Twitter accelerates again with Bitcoin tips, NFTs, recorded Spaces, creator fund and more: Twitter's slate of new product announcements is not slowing down. The company today introduced a number of new initiatives aimed at better serving the conversations and community using its platform, including support for tipping with crypto, NFT authentication and plans for other experiments designed to provide more context about a conversation to those just joining in. The company also said it's preparing to launch its own creator fund in a few weeks to provide audio creators with access to financial, technical and marketing support.
While Twitter was not yet ready to detail specifics, like the fund size or expected reach, in terms of creator participants, it's a clear shot across the bow of a top competitor in social audio, Clubhouse, whose owncreator "accelerator"offered to connect its participants with brand deals or $5,000 per month during their participation in its program.
Similarly, Twitter views its creator fund as one not aimed at rewarding creators for the content they produce -- like some rival funds running across Facebook, Instagram, Snap and elsewhere -- but rather at helping creators get started with audio productions on Twitter Spaces.
Image Credits:Twitter
"The goal of it really is to provide that technical and marketing expertise," noted Twitter Product Lead for Creator Monetization, Esther Crawford. "We think of it as kind of a stopgap solution. We want to onboard these folks into other long-term monetization features. But we want to give them an initial boost," she said.
Spaces hosts will also be able to record and replay their programs -- a move likely meant to counteract the threat ofcompetitive platformswhich tout recording as a key differentiator. This will launch in a "few months," the company said.
Twitter also today announced a few new products and expansions to recently launched features.
One of these is a new feature that would allow its app to better serve creators working with NFTs, or non-fungible tokens -- a way to certify digital assets, stored on the blockchain. Artists are now creating NFTs of their work which are sold across NFT marketplaces like OpenSea, Rarible, Foundation, SuperRare and others.
Image Credits:Twitter
Twitter says it's planning to "soon" explore support for NFT authentication. This would allow NFT creators to connect their crypto wallets to Twitter, in order to track and showcase their NFTs on the platform. This particular plan is still in the early stages as Twitter couldn't yet articulate how this would work. The company said it was testing different ideas for making creators with authenticated collections stand out more visually somehow -- perhaps with something like a profile badge or differently shaped avatar.
When pressed for further details on its broader NFT roadmap, Twitter declined to comment. (Update, on 9/29/21, Twittershowed offhow the NFT feature may work.)
Another new feature in the crypto space is support for Bitcoin tipping. Twitterfirst introduced its "Tip Jar" featurein May as a beta product, allowing users to send and receive one-time payments via third-party services like PayPal, Venmo, Patreon, Cash App, Bandcamp and others. Now the feature will expand to global audiences on iOS with Android coming soon, and will add support for tipping with Bitcoin.
There will be a couple of ways Bitcoin tips can work. Users will be able to add a Bitcoin Lightning wallet or their Bitcoin address in order to start receiving Bitcoin tips. Lightning wallets are popular among users in the crypto community due to their lower transaction fees, the company said. Twitter's implementation of this usesStrike,a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin free and instantly, it said.
Image Credits:Twitter
In fact, Twitter CEO Jack Dorsey this summertweetedthat it was "only a matter of time" before Twitter built support for the Lightning Network, a layer atop the Bitcoin blockchain, into its platform. At the time, there was somespeculationthat users would first see this sort of support in a micropayments product, which has now been proven correct.
The Tip Jar will also add a couple of other services as well, including GoFundMe and the Brazilian mobile payments service PicPay.
Another new experiment called "Heads Up" (for the time being), is the first that will help to give users a sense of a conversation's vibe before they wade in.
One of Twitter's thorniest issues is its inability to help people feel safe sharing their thoughts and opinions on its network, which has served as a breeding ground for cancel culture, and where armies of trolls can descend on marginalized voices or others they disagree with at any time -- like activists, women in tech (as was made famous with theGamergatescandal) or female journalists.
Image Credits:Twitter
In this area, Twitter has worked to create new features like those that enable users to limit who can reply to their tweets, which it says has contributed to a decline in abuse reports over the past four weeks.
It's alsolaunched Safety Mode into beta, which offers a sort of automated level of protection against harassment during a time of heightened abuse. It created a way for people to quietlyremove followersas an alternative blocking. And today, Twitter says it will soon launch a new feature that will allow users toremove themselves from a conversationthey're mentioned in and is experimenting with a new feature called "word filters" that would let users stop abusive tweets that don't cross the line into being against Twitter policy.
Image Credits:Twitter
Twitter didn't fully explain how it will measure a conversation's vibe in the coming "Heads Up" feature, in order to warn newcomers about the nature of the discussion. But said it was considering leveraging data from its emoji reactions (which are only now in testing) andreply prompts, which warn users when they're about to post something potentially offensive.
The company has been launching new products at an incredibly fast clip in recent months, with additions that have included a rapidlyimprovedTwitter Spaces audio chat platform, the launch ofinterest-based "Communities," creator platformSuper Follows,newslettersvia its acquisition of Revue,tipping, a premium subscription service calledTwitter Blue, crowdsourced fact-checking withBirdwatch, newe-commercefeatures, newprofilesandlabels, a reopened accountverificationsystem, conversationcontrols, Direct Messageimprovementsand more.
Today, it offered a few updates on a handful of these products.
It said it's working on more Spaces discovery tools that would make it easier to find Spaces at the top of the timeline, and elsewhere in the app -- a likely reference to thededicated Spaces tab on mobile. It's also expanding access to Ticketed Spaces, improving the discovery of newsletters, launching a new creator earnings dashboard, and working on more account labels -- like those brands and those that would help memorialize the accounts of the deceased -- among other things.
Image Credits:Twitter
Twitter noted, too, how it plans to handle moderation within its Communities feature, saying that these interest-based destinations would have their own moderators and norms specific to that community, above and beyond theTwitterRules.
"It's our first step into decentralizing moderation, so that your Twitter is your space," explained Twitter's Product Lead for Conversational Safety, Christine Su, adding that Communities would open up to more people "soon."
More broadly, Twitter attempted to explain its strategy, which is increasingly looking like "throw spaghetti at the wall and see what sticks." In fact, it admitted -- to some extent -- it may be doing just that.
"You'll keep seeing us push towards this vision through experimentation and iteration," explained Twitter Head of Consumer Product Kayvon Beykpour. "You'll see us share our progress publicly along the way, as we have over the last few years. And you won't see us stay tied to the things that aren't working. We've done that with Fleets and you'll continue to see that with other explorations we test out. We believe that if we're not winding things down every once in a while, then we're not taking big enough bets," he said.
Twitter's announcements were detailed this morning at a press briefing and Q&A session, ahead of the publication of some of itsnewsto its corporate blog. || Pro-Crypto Senator Lummis Discloses Bitcoin Purchase Worth Up to $100K: U.S. Sen. Cynthia Lummis (R-Wyo.) disclosed she bought bitcoin worth $50,001-$100,000, according to a Periodic Transaction Report filed Thursday. Lummis, who has been buying bitcoin since 2013, executed her latest purchase on Aug. 16 via the brokerage platform River Financial. CNBC first reported the news. Under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) senators and senior staff with earnings above $119,554 are required to disclose certain financial transactions. Part of the requirements means they must report any purchase, sale, or exchange of any stock, bond, commodities future and other securities on transactions above $1,000. The senator previously served eight years as Wyoming’s state treasurer and told CoinDesk last year that during her time as treasurer she had always been looking for “something that was a good store of value.” Her son-in-law and his friends helped educate the senator about bitcoin’s potential as a store of value, she said, prompting her to jump on the bandwagon when the crypto was trading for around $320. While a bitcoin advocate, Lummis slammed stablecoins during a speech on the Senate floor last week, saying they “must be 100% backed by cash ... and this should be audited regularly” expressing her concerns that cryptos pegged 1:1 to other sovereign fiat currencies lacked transparency. Read more: Janet Yellen Has Been Lobbying Against Wyden-Lummis-Toomey Crypto Amendment: Report View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 65466.84, 63557.87, 60161.25, 60368.01, 56942.14, 58119.58, 59697.20, 58730.48, 56289.29, 57569.07
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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 for 2017-01-31]
BTC Price: 970.40, BTC RSI: 62.46
Gold Price: 1208.60, Gold RSI: 59.43
Oil Price: 52.81, Oil RSI: 52.53
[Random Sample of News (last 60 days)]
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 is going bananas: (Photographers take pictures in front of a mock bitcoin ATM during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip)
Bitcoin is going bananas.
The cryptocurrency was 10.1% higher at $1,127.48 per coin just after noon in New York on Wednesday, bringing its 2017 gain to 17.8%.
On its first trading day of the new year, bitcoin crossed above the $1,000 mark for the first time since 2013.
Bitcoin is up 95% since the beginning of September, and it gained 123% in 2016, making it thetop performing currencyfor the second year in a row.
Bitcoin's gains have been buoyed by renewed interest from China, where money is rushing out of the country as its currency, the yuan, continues to weaken. China'sforeign-exchange reserves shrankby about 8% in 2016 to $3.05 trillion as of November. The outflows have pushed the yuan to its weakest levels against the dollar since 2008.
According to a recent Business Insider Intelligence briefing, citing data fromCryptocompare: "In the first 24 hours of the new year, over 5 million bitcoins were bought in Chinese yuan, equating to $3.8 billion. In contrast, just 53,000 bitcoins were bought in US dollars." And while not all of that translates into people actually buying and holding, it shows the tremendous appetite for bitcoin in China.
The situation is unlikely to improve anytime soon unless China takes action to stop the bleeding amid the US Federal Reserve ratcheting up its 2017 interest-rate hike expectations to three from two. If those rate hikes happen, an even weaker yuan is most likely in the cards, creating an even more beneficial scenario for bitcoin.
(Markets Insider)
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• China is behind the latest bitcoin craze || Endurance Insurance Introduces New Cyber Extortion Response Service: PEMBROKE, Bermuda - January 17, 2017 - Endurance Specialty Holdings Ltd. (ENH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company has introduced a new service enabling its insureds to better respond to ransomware and similar extortion events. Endurance`s Breach Assist Counsel, Mullen Coughlin LLC, a recognized leader in incident response legal services, coordinates with leading providers of forensic and response services to assist Endurance`s clients in the event of a data breach or other data security incident. Kivu Consulting, a computer forensic company, has been providing computer forensic investigation services as part of that network and will now also offer extortion response services.
Mullen Coughlin`s and Kivu`s expert teams work with ransomware victims to guide them as they respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency, analyzing and testing decryption keys to ensure they are effectively and safely applied without further compromising the company`s network, and preparing documentation for reporting events to appropriate law enforcement agencies.
Mr. Brad Gow, Senior Vice President, Endurance Pro, commented "Companies faced with ransomware are often ill equipped to obtain Bitcoin or other cryptocurrency under tight deadlines. By providing our policyholders with access to experts to guide them through the payment and decryption processes, we assist them to minimize disruption to their business operations and execute the crisis response in a manner that best protects our insured from future harm."
Mr. Christopher Sparro, Chief Executive Officer of U.S. Insurance added, "We are excited about this new service as we continue to evolve our cyber response capabilities, adding innovative products and services for our clients. Mullen Coughlin and Kivu are two members of a selected team of best-in-class preferred vendors that our breach response team can access to assist our insureds to quickly and professionally respond to breaches."
Mr. John Mullen, Partner, Mullen Coughlin, stated, "Rapid growth in ransomware attacks is impacting both small and large organizations. Given the increasing complexity of the attacks, some targets have experienced multiple extortions if they don`t effectively manage the initial response. We are extremely pleased to be offering these technical support services as they are a natural complement to the cyber extortion coverage that Endurance provides their clients."
About Endurance Specialty Holdings
Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines and specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A (Excellent) from A.M. Best (XV size category), A (Strong) from Standard and Poor`s and A2 from Moody`s on our principal operating subsidiaries. Endurance`s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Endurance, please visitwww.endurance.bm.
About Mullen Coughlin
Mullen Coughlin LLC is a law firm uniquely dedicated to servicing insured organizations of every size and from every industry faced with data privacy crises, security incidents, and risks. Having handled thousands of such events, our accessible and motivated attorneys possess experience and talent with respect to the complicated and constantly changing risks to the security of information systems and data as well as the complex state, federal, and international laws imposing requirements on organizations. Founded by John Mullen, Chris DiIenno, Jim Prendergast, and Jennifer Coughlin, Mullen Coughlin is the largest team of experienced attorneys - currently 17 - uniquely focused on providing tailored data privacy and security incident response services under the umbrella of cyber insurance, as well as pre-breach planning and compliance, breach response, regulatory investigation and management, and privacy litigation defense. Mullen Coughlin services organizations from every sector, including: Financial Services, Healthcare, Retail, Education, Government and Non-Profit and Professional Services. We think of ourselves as ".first, focused, and finest" when it comes to cyber counsel.
ContactInvestor RelationsPhone: +1 441 278 0988Email: [email protected]
# # #
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Endurance Specialty Holdings Ltd via GlobeNewswireHUG#2071736 || 10 things you need to know before the opening bell: (People skate on the frozen Doubs river at the Swiss - French border in Les Brenets, Switzerland.Reuters/Denis Balibouse)
Here is what you need to know.
Stock markets all over the world are opening 2017 with a bang.China's Shanghai Composite (+1%) paced the gains in Asia and Italy's MIB (+1.7%) leads the advance in Europe. Here in the US, the Dow is on track to open higher by 0.9% near 19,932.
The dollar is flying.The US dollar index is higher by 0.6% at 103.39, and on track to close at its best level since the end of 2002. The greenback is higher against all of its major peers with its biggest gains coming against the euro (+0.8%).
Bonds are getting crushed.Heavy selling has yields across the Treasury curve up about 6 basis points apiece with the 10-year reaching 2.51%. Selling isn't limited to just the US, as yields are also screaming higher across Europe, where the UK 10-year is up 9 bps at 1.33%.
Crude oil soars to an 18-month high.West Texas Intermediate crude oil trades up 2.3% at $54.93 per barrel following confirmation both Kuwait and Oman have lived up to their promises to cut production, Bloomberg reports. Meanwhile, Brent crude oil, the international benchmark, is higher by 2.2% at $58.08 per barrel.
Bitcoin is above $1,000.The cryptocurrency trades up 0.8% at $1,020 per coin after crossing the $1,000 mark for the first time since 2013 on Monday.
China is tightening control of capital.Beijing announced new rules aimed at slowing the flow of capital out of China. The measures include requiring citizens taking money out of the country to pledge it won't be used to buy property overseas and calling on banks to report any overseas transactions valued at $10,000 or more, Reuters says. State-run media organization Xinhua has denied the measures are capital controls.
UK manufacturing is booming.Markit UK Manufacturing PMI hit 56.1 in December, making for the best print in 30 months. "The UK manufacturing sector starts 2017 on a strong footing. The headline PMI hit a two-and-ahalf year high in December, with rates of expansion in output and new orders among the fastest seen during the survey’s 25-year history," wrote Rob Dobson, senior economist at IHS Markit, which compiles the survey. The British pound is little changed near 1.2275 versus the dollar.
2017 could be a busy year for tech IPOs.Blue Apron, Dropbox, Snap, and Spotify are among the tech startups that are candidates to go public this year.
Cantor Fitzgerald hires Anshu Jain.Cantor has named Jain president about one and a half years after he resigned as co-CEO of Deutsche Bank following a series of regulatory troubles.
Twitter's China boss is out.Kathy Chen has quit after eight months on the job, Reuters reports. In a tweet announcing her departure, Chen wrote, "Now that the Twitter APAC team is working directly with Chinese advertisers, this is the right time for me to leave the company."
US economic data flows.Markit manufacturing PMI will be released at 9:45 a.m. ET before both ISM Manufacturing and construction spending cross the wires at 10 a.m. ET.
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• Finland just launched an experiment giving 2,000 people free money until 2019 || Bitcoin plummets over 23 percent after nearing all-time high as 'volatile little bubble' bursts: Bitcoin(Exchange: BTC=-USS)tanked as much as 23 percent Thursday afternoon after nearing an all-time high earlier in the trading day.
The world's largest cryptocurrency by market cap traded as low as $887.47, down from the day's high of $1,153.02, according to CoinDesk data. The high for the day was just shy of $1,165.89 set on November 30, 2013. The price has recovered somewhat from the day's low to about $973.89 at the time of publication.
However, bitcoin beat its high on some other cryptocurrency exchanges. Whereas CoinDesk's price index takes into account many different bitcoin exchanges – individual exchanges, where users can trade bitcoin, noted their own highest prices were exceeded. Among these were one of China's biggest and most liquid exchanges, BTC China.
Industry experts said the rapid rally in bitcoin created a little bubble which is now bursting but the long-term prospects are still positive.
"Once we broke through the nominal all-time high, liquidity dried up – no shorts, no sellers, which means a volatile little bubble formed quickly," Peter Smith, chief executive of bitcoin wallet Blockchain, told CNBC by email.
"We are seeing the effects of that now. It's still fairly thin trading volume though. I expect the market will find a floor and stabilize somewhere in the $850 to $1,000 range, but we'll see."
Wild swings in bitcoin's price are not unusual and volatility is a characteristic of the virtual currency.
CNBC recently outlinedthe reason behind the latest rally in bitcoin. One key reason has been the recent devaluation of the yuan as well as the threat of capital controls across many countries. The majority of bitcoin trade comes out of China so it has a big influence.
But on Thursday, theyuan rose against the dollar. The reason behind this was a sell-off in the dollar due to uncertainty around the future of U.S. Federal Reserve rate hikes, as well asstate intervention by Chinain its currency. The rise in the yuan led to a fall in bitcoin.
"It is absolutely tied to China. If the yuan goes up, bitcoin goes down," Dan Collins, CEO of technology consultancy firm CCO Global, told CNBC in an interview on Thursday.
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• Personal Finance || Why Small Businesses Should Consider Bitcoin: In 2015 bitcoin finally made its mark: More than 100,000 businesses , including industry giants like Microsoft, Overstock.com and Dell, accepted it. But, what exactly is this mysterious "cryptocurrency" everyone has been talking about for years? And, is it time your small business accepted it, too? Related: 5 Ways to Participate in the Bitcoin Revolution Here's what you need to know about what bitcoin is, its advantages and potential drawbacks. What is bitcoin? Bitcoin is a cryptocurrency or an entirely digital form of money, invented in 2009. While that might not sound interesting, what sets bitcoin apart is that it's purely person-to-person , with virtually no banks, financial institutions or government bodies standing in the way between you and your money. Bitcoin relies on a technology system called blockchain that keeps your bitcoin wallet safe and secure from fraud. The currency's digital format also makes for faster, cheaper, easier exchanges of cash, from which many small businesses may benefit. Overall, Bitcoin's assets stem from its decentralization. Blockchain, the technology bitcoin was built on, allows you to not have to rely on a bank to process your financial transactions. Here are other reasons to consider bitcoin: 1. No fees If your 2 to 3 percent merchant transaction fees are a drain on your cash flow, then bitcoin has you covered. Bitcoin transactions typically cost between 1 percent and zero. That's no typo. You can send or accept bitcoins as payments with no fees attached. Since bitcoin doesn't require a bank to verify each transaction, you don't have to sacrifice your own revenue to the financial institutions that own your business loans or credit cards . However, you'll often have the option to pay an extremely small transaction fee, which can speed up your processing. 2. No wait Maybe those fees aren't bothering you, but waiting around for your money to arrive in your bank account does. Because there's no centralized institution that checks every bitcoin transaction -- its underlying technology, blockchain, does it for you -- there's no need to wait nearly as long to receive your payment. Bitcoin transactions are processed quickly, usually in a fraction of the time credit card transactions do. Story continues You can charge a customer, go for a walk around the block and receive your money. Bitcoin is that fast . 3. No borders If you export your goods and services or purchase supplies or materials from abroad, then bitcoin is a great solution for dealing with foreign transaction fees, exchange rates or currencies. Why? Because bitcoin is a global currency, not tied to a single government or company , it ignores border restrictions. As long as your customers or suppliers accept bitcoin, you're good to go. 4. No payment disputes Even though bitcoin is digital, it works more like cash than credit. Bitcoin transactions are final and can't be contested by a customer on the basis that he or she, for example, didn't enjoy the service you provided. If you have trouble with customers disputing their credit card payments, then accepting bitcoin could help. 5. An investment opportunity Like other currencies, bitcoin fluctuates in value. However, it's generally less stable than the payments in cash, gold or other commodities you're used to. Related: The Strange Positive Effect Political Uncertainly Has on Bitcoin While this fluctuation can be a drawback to accepting bitcoin, as we'll discuss below, it can also have a large upside. You can look at bitcoin as an investment: By accepting bitcoins, then waiting to cash them in, you're taking a chance on their value increasing. Bitcoin makes investing in a currency seem much less absurd or boring. From 2011 to 2013, the value of a single bitcoin rose from $2 to $1,242. Although it has since fallen back to around $800 today, there's still much potential for growth. Challenges of accepting bitcoin It's always important to be aware of the potential dangers, as well. Here are the three largest obstacles to running a business with bitcoin. 1. It's unregulated. Although its decentralization is a plus, bitcoin's lack of government support may scare some away. The U.S. government recognizes bitcoin as a valid commodity and possibly even a positive influence on financial regulation, but some other countries have restricted or banned the use of bitcoin. 2. It's unstable. Although bitcoin has become increasingly more stable over time, even recently beating out gold , it's still fundamentally a currency that isn't overseen by a single financial institution. If the economy requires it, the Federal Reserve can raise or lower interest rates, but no such option exists with bitcoin. Some observers point to this "unstable" quality as a good thing, since the bitcoin market has no interference, but it could also make things difficult for your small business if that market suffers. You'll want to figure out your aversion to risk before investing big in bitcoin. 3. It's tough to plan for. With a decentralized, volatile, purely digital currency, it can be difficult to plan financial statements, figure out taxes and determine your prices . How can you make projections that account for large fluctuations or changing government regulations? This is not an easy task, although it is do-able. You'll definitely need to speak with your bookkeeper and accountant before accepting bitcoin at your small business. Related: Bitcoin Is Money, U.S. Judge Says in Case Tied to JPMorgan Hack Overall, there's a lot that bitcoin can help your small business with, but also plenty of question marks involved in accepting the currency. If you're considering accepting bitcoin, sit down and determine why it can help your business and how you will deal with the challenges it may bring. || Hackers Hold Entire Hotel for Ransom, Trap Guests in Rooms: A luxury hotel in Austria recently had to pay hackers a ransom after they managed to access its electronic key system and lock all the hotel guests in their rooms. The cyber lock-in happened on the first day of the winter season at the Romantik Seehotel Jaegerwirt , a 111-year-old, four-star luxury hotel that has a pool, lake views, and a state-of-the-art electronic key system that turned out to be something hackers could exploit, according to The Local . When the hackers accessed the hotels IT system and shut everything down, approximately 180 people were staying at the hotel on that day. Many were locked in their rooms, while others were locked out of theirs. The hackers demanded 1,500, about $1,600, paid via Bitcoin. The hotel decided to pay. "We had no other choice, said managing director Christoph Brandstaetter. Neither police nor insurance help you in this case. After the hackers were paid, the system went back online. Brandstaetter said the hotel planned to downgrade back to old-fashioned keys. || Bitcoin plunges as much as 20 percent as Chinese yuan soars: By Jemima Kelly LONDON (Reuters) - A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China's yuan rose sharply - further evidence of an intriguing inverse relationship between the pair. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange (BTC=BTSP). But it dived as low as $885.41 on Thursday as the yuan jumped by over 1 percent in offshore trading and headed for its strongest two-day performance on record. (CNH=D3) [CNY/] Chinese exchanges have reported high volumes of trading of the web-based "cryptocurrency" over the past year, during which time the yuan has shed almost 7 percent, its worst annual performance since 1994, while bitcoin has surged 125 percent, outperforming all other currencies for a second year in a row. Bitcoin can used for moving money across the globe quickly and anonymously, and operates outside the control of any central authority. That makes it attractive to those wanting to get around capital controls, such as in China, and also to investors who are worried about a devaluation in their currency. "Given that the yuan's weakness over recent months seemed to correlate with bitcoin's strength more than any other currency, it's no surprise that bitcoin traders have reacted the way they have to the yuan's sudden strength today," said Paul Gordon, co-founder of London-based Quantave, a firm seeking to make it easier for investors to access digital currency exchanges. Exchanges in China say they account for more than 90 percent of global bitcoin trading, which would help explain why a shift in Chinese demand would sharply affect the price. But many bitcoin experts say Chinese exchanges overstate their volumes in the digital currency, and attribute sharp moves to speculation by, for example, U.S.-based hedge funds. Some said bitcoin's fall was a natural reaction to the speed of its previous rise. It is still up more than 50 percent on three months ago, when it was trading at around $600, "If something goes up very rapidly...people make a lot of money, and at some point theyre going to want to sell, in order to realize their gains," said Marco Streng, CEO of bitcoin mining and trading firm Genesis Mining. By 1645 GMT (11:45 a.m. ET), bitcoin had recovered some of its earlier losses to trade down almost 15 percent on the day at around $950, still leaving it on course for its worst performance in a year. Story continues On some digital currency exchanges - of which there are dozens - bitcoin did reach record highs late on Wednesday. "Once we broke through the nominal all-time high, liquidity dried up - no shorts, no sellers, which means a volatile little bubble formed quickly," said Peter Smith, CEO of London-based Blockchain, the biggest bitcoin wallet-provider globally. "We are seeing the effects of that now as it breaks. It's still fairly thin trading volume though, so who really knows where it goes next." For a graphic on the bitcoin economy, click http://fingfx.thomsonreuters.com/gfx/rngs/HONGKONG-BITCOIN/0100106X09S/BITCOIN%20ECONOMY%20T.jpg For a graphic on bitcoin exchange rates, click http://fingfx.thomsonreuters.com/gfx/rngs/1/2097/4051/s3d90f04kz56.htm (Reporting by Jemima Kelly; Editing by Mark Trevelyan) View comments || Game Development and Blockchain Integration Will Boost Cryptocurrency’s Worldwide Expansion: Game development, led by blockchain solutions like GameCredits, can boost the adoption rate of cryptocurrency worldwide, Forbes.com asserts. GameCredits payment gateway is now successfully tested in the Free MMO FRAGORIA by hundreds of players.
LOS ANGELES, CA / ACCESSWIRE / December 23, 2016 /A revolution in game development occurred December 7th when global game developer Datcroft, launched GameCredits’ blockchain payment gateway in their title game Fragoria. GameCredits payment gateway offers the first cryptocurrency payment solution designed for the gaming industry. GameCredits payment gateway is LIVE within popular RPG Fragoria. After barely 2 weeks of release, thousands of players are already trying the system within the 8 million player game. Unlike other blockchain gaming products, this pioneering blockchain solution was founded by gaming industry experts.Gamecredits, as featured in a recent Forbes article, will help to widespread cryptocurrency around the world.Game developers who seek fast payment processing, increased security, higher consumer deposit limits, and decreased fees can now take advantage of the open source platform provided by Datcroft and GameCredits. This payment system allows any user to access the GameCredits blockchain web wallet directly from their game store. Datcroft introduced this system to the 8 million registered users of theRPG Fragoria, where players can now choose to purchase in-game items or currency with GameCredits, “GAME”. Gamers who choose to pay with “GAME” will reap the benefits of increasing currency value, transferability, anonymity, and increased security. By using Gamecredits, video games can establish rich economic ecosystems using a tangible digital asset.Partnering with Gamecredits, Datcroft is paving the way for the future of gaming. A future where video games are based on a digital currency, opening the doors for currency transfer and new marketplaces. Ultimately, this means more revenue in the pockets of developers and more opportunities for gamers.To take advantage of this payment gateway, developers will be able to access GameCredits open source API (Application Program Interface). After access to the program, developers can quickly add gamecredits as a means of payment within their games. This payment system will instantly reduce transaction costs and fees thereby attracting more game development experts over time.Datcroft Games and GameCredits are excited to unveil this platform to the game development community. The payment system is specifically tested to meet the needs of players in successful games such as Fragoria. Sergey Sholom CEO of Datcroft Games explains, “This is the first gaming centered cryptocurrency designed by game developers for game developers. For a blockchain integration such as this to be successful, you must have a team with a background in game development. Only then can you bring a proprietary product like GameCredits to the marketplace and have it succeed”. By joining forces, Datcroft' and GameCredits provide the necessary gaming expertise to significantly impact the gaming world.The two companies have a working plan for the future of GameCredits. First, they will continue to test the payment solution within Fragoria, working out any design issues and minor bugs. Second, they will integrate the gateway into another successful Datcroft game, Get the Gun, allowing them to further test the solution and work out kinks that could occur in a different game format. Third, credit card and Paypal payment options will be added to the gateway so gamers can purchase GameCredits without having to first buy Bitcoin. Finally, the companies will roll out announcements for mobile gaming solutions.With over 13 years of experience in game development, Datcroft Games strives to provide innovative and unique gaming experiences. Their dedication to these goals will further bolster GameCredits capabilities as the companies revolutionize the world of blockchain gaming.For more information, please visithttp://gamecredits.com
Contact:Name: Nebojša MaksimovićEmail: [email protected]: GameCredits Inc
Video URL:https://www.youtube.com/watch?v=yK7S59NAo0Q
Source:Game Credits Inc. || Bitcoin exchange operator pleads guilty in U.S. case tied to JPMorgan hack: By Nate Raymond NEW YORK (Reuters) - A Florida man pleaded guilty on Monday to charges that he conspired to operate an illegal bitcoin exchange, which prosecutors said was owned by an Israeli who oversaw a massive scheme to hack companies, including JPMorgan Chase & Co(JPM.N). Anthony Murgio, 33, entered his plea in federal court in Manhattan to three counts, including conspiracy to operate an unlicensed money transmitting business and conspiracy to commit bank fraud, a month before he was to face trial. Under a plea agreement, Murgio agreed not to appeal any prison sentence of about 12-1/2 years in prison or less. U.S. District Judge Alison Nathan scheduled his sentencing for June 16. The Tampa, Florida-resident is one of nine people to face charges following an investigation connected to a data breach that JPMorgan disclosed in 2014 involving records for more than 83 million accounts. Prosecutors said Murgio operated Coin.mx, which without a license exchanged millions of dollars into bitcoin, including for victims of ransomware, a computer virus that seeks payment, often in the virtual currency, to unlock data it restricts. Prosecutors said Coin.mx was operated from 2013 to 2015 through several fronts, including one called "Collectables Club," to trick financial institutions into believing it was a members-only group interested in collectables like stamps. Coin.mx was owned by Israeli citizen Gery Shalon, according to prosecutors, who say he and Maryland-born Joshua Samuel Aaron orchestrated cyber attacks on companies. An attack on JPMorgan resulted in the information of more than 100 million people being stolen. Prosecutors said the men carried out the cybercrimes to further other schemes with another Israeli, Ziv Orenstein, including pumping up stock prices with sham promotional emails. Murgio, who was not accused of engaging in the hacking scheme, was tied not only to Shalon but also to Aaron. Both men attended Florida State University, and in 2008 they formed a business together. On his website, Murgio called Aaron "my friend" and said he "showed me the ropes to online marketing." Story continues Aaron was deported from Russia in December and taken into U.S. custody, while Shalon and Orenstein were extradited from Israel in June. All three have pleaded not guilty. Five other individuals have been charged in connection with Coin.mx, including Murgio's father. Two individuals linked to it are scheduled to face trial on Feb. 6. The case is U.S. v. Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-769. (Reporting by Nate Raymond in New York; Editing by Dan Grebler)
[Random Sample of Social Media Buzz (last 60 days)]
$894.99 at 13:30 UTC [24h Range: $880.00 - $910.00 Volume: 10064 BTC] || MMMBTC || In the last 10 mins, there were arb opps spanning 9 exchange pair(s), yielding profits ranging between $0.00 and $62.09 #bitcoin #btc || MMMBTC || Current price of Bitcoin is $787.79. || Send 1.0 - 4.9 BTC today, get 20.00 - 98.00 BTC in 20 hours,fast money loan btc. http://ow.ly/445R306KJ1v || MMMBTC || DAO and Wings DAO Platform which People Need to Know #bitcoin #blockchain #medium https://medium.com/@emitom_6322/dao-and-wings-dao-platform-which-people-need-to-know-aadacb264d29 …pic.twitter.com/BFV4PCAbNN || MMMBTC || MMMBTC
|
Trend: no change || Prices: 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-04-09]
BTC Price: 5204.96, BTC RSI: 82.44
Gold Price: 1303.50, Gold RSI: 52.90
Oil Price: 63.98, Oil RSI: 73.14
[Random Sample of News (last 60 days)]
Prediction: Tesla Will Eventually Dive Head-First into Bitcoin: tesla elon musk bitcoin crypto In a rare comment from Elon Musk on cryptocurrency, the Tesla and SpaceX founder said that Bitcoin “is quite brilliant.” He continued: “Paper money is going away and crypto is a far better way to transfer value than pieces of paper, that’s for sure, but it has its pros and cons.” Musk also gave Ethereum props on the ARK Investment podcast Tuesday ( listen here ): Read the full story on CCN.com . View comments || Cryptocurrency Exchange ‘IEO’ Draws Suspicion for Plans to Sell Tokens Ahead of Launch: Digital currency and transaction platform Algorand has refused to endorse an attempt by cryptocurrency exchange Bgogo to sell its unreleased tokens, executives confirmed on social media on April 8. Algorand, which intends to launch its product in June along with its native ERC-20 token, issued a formal warning about the plans, which Bgogo has since confirmed are genuine in a blog post . Known as an “initial exchange offering” (IEO), the Algorand event notionally allows Bgogo traders to purchase exposure to the platform’s token, despite the fact that it does not yet exist. Bgogo will set an arbitrary price for the tokens, essentially trading an IOU ahead of the official release. According to Algorand, however, the exchange has not entered into any form of official agreement with the company, and its efforts are not condoned. “To be clear: The (Algorand) Network has not yet launched and there are no token sales,” executives wrote on Twitter. The post continued: “Any information to the contrary is false. We will be sure to keep our channels updated as soon as there are important announcements.” In a subsequent post , Bgogo said it would now offer the tokens in the form of futures contracts, after being made aware of Algorand’s reservations. The original plans had sparked suspicion among the cryptocurrency community, with Larry Cermak, head of research at industry news outlet The Block, uploading a message seemingly from Bgogo defending its decision to offer IOUs on nonexistent tokens. “We are a marketplace to facilitate both parties,” part of the response read, likening the situation to Bitcoin ( BTC ) exchanges trading the cryptocurrency without the direct permission of creator Satoshi Nakamoto . Cermak levelled public criticism at Bgogo, while others likened the sale to practices at fellow exchange HitBTC in 2017, when traders were able to bet on futures of altcoins , for example Bitcoin Cash ( BCH ), before they launched. Related Articles: Hodler’s Digest, March 25–31: Top Stories, Price Movements, Quotes and FUD of the Week Coinbase Pro Adds Support for Three New Tokens: EOS, Augur and Maker Lithuanian Finance Ministry to Introduce Legal Amendments for Crypto-Related Firms Luck of the Draw: New Binance Launchpad Lottery Structure Divides Critics || London Stock Exchange lists blockchain exchange-traded fund (ETF): The London Stock Exchange (LSE) has continued to branch out into the blockchain and cryptocurrency space by listing a blockchain exchange-traded fund (ETF). Investment management company Invesco were behind the listing having partnered with Elwood Asset Management, who specialise in digital assets. The product launched on the LSE is called “Invesco Elwood Global Blockchain UCITS ETF”, and it is aimed at companies who can leverage blockchain technology to generate “real earnings”. Bin Ren, CEO of Elwood, said in the official press release: “Blockchain has been around for a decade, but many people still see it just as the technology behind cryptocurrencies.” He added: “The true potential, however, may extend far beyond that. We are beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries.” Elwood’s index will collate data from 48 cryptocurrency companies including the likes of Japanese exchange Monex Group and the CME Group, due to its listing of Bitcoin futures. Ren concluded: “We believe the potential for blockchain to change the global economy is greatly underappreciated in today’s market, much like the internet was in the beginning, when most people couldn’t see past its usefulness for email.” The listing of a blockchain ETF comes just one week after the London Stock Exchange Group invested in the world’s first cryptocurrency bond , demonstrating a change in sentiment about blockchain from institutions. For more news, guides, and cryptocurrency analysis, click here . BREAKING: London stock exchange invests in world’s first cryptocurrency bond By Oliver Knight – March 11, 2019 The post London Stock Exchange lists blockchain exchange-traded fund (ETF) appeared first on Coin Rivet . || Turkish firm sells holiday homes in Turkey for nine Bitcoin: A Turkish real estate company accepts cryptocurrencies for property – and has homes that cost just nine Bitcoin. Antalya Homes has sold nine properties via Bitcoin already and expects to sell more as the world increasingly turns towards crypto. Chairman Bayram Tekce said: “Payment with cryptocurrency enables a more reliable and faster transaction performance without any exchange loss. “By making investments in countries like Turkey, where housing is becoming increasingly valuable, investors can shift their investment to a less risky area.” The firm has a special section named ‘Pay with Bitcoin’ on its website for all questions related to purchasing houses with cryptocurrency. The firm sells homes in Turkey starting from €30,000 (nine BTC). Property investment In October 2018, Roy Niederhoffer, President of R.G. Niederhoffer Capital Management, announced he was selling a 10,720-square-foot, 32-foot-wide mansion for Bitcoin. The house, situated in New York, is listed for $15.9 million . “I’m a big believer in Bitcoin,” he told Bloomberg. “I really am so bullish on it, and I want to own more of it.” There are many ways that blockchain can change the real estate industry by reducing the risk of fraud, eliminating middlemen, and improving cash flow management. So far, however, commercial real estate has been a slow adopter of new technologies. But as more investors, contractors, and managers see the opportunities for blockchain in real estate, the whole industry could be disrupted. Click here for five key ways blockchain is shaking up the industry . The post Turkish firm sells holiday homes in Turkey for nine Bitcoin appeared first on Coin Rivet . || SEC Chairman Highlights Investor Protection in Regard to Bitcoin ETF: United StatesSecurities and Exchanges Commission (SEC) Chairman Jay Clayton is still concerned about investor protection when it comes to the commission approving a Bitcoin (BTC) Exchange-Traded Fund (ETF). The SEC chairman spoke about crypto in an interview withFOX Businesson March 14.
In the interview, Clayton claimed to be neutral toward digital currencies, saying that he is not a spokesperson against the asset. The SEC chairman explained that he is concerned with the potential for manipulation associated with the space, and wants to guarantee investor protection:
“What I’m concerned about at the moment is if it can be reasonably demonstrated that the underlying trading is generally not manipulated, it’s happening on reliable venues with good rules and that custody is something we can feel comfortable about.”
While Clayton declined to comment on any specific Bitcoin ETF application, he still noted that there “may be a case where a Bitcoin ETF could satisfy our rules.” The chairman elaborated:
“I think this technology has and is already demonstrating pretty significant promise, but it’s demonstrating significant promise in the places where it’s consistent with our approach to capital raising in the past.”
Recently, the SECannouncedit will soon start the countdown period to approve or disapprove the VanEck/SolidX Bitcoin ETF. Afterwithdrawingthe ETF application due to the U.S. government shutdown in late January, the Chicago Board Options Exchange (CBOE)re-submittedthe application a week later.
Earlier this week, Jay Claytonconfirmedhis previous statement that Ethereum (ETH) and similar cryptocurrencies are not securities under U.S. law. However, Clayton stipulated that he meant that a digital asset’s definition as a security can change over time.
• CFTC Requires Trading Platform to Pay $990K for Illegal Bitcoin-Related Transactions
• Riot Blockchain Plans Launch of Regulated Cryptocurrency Exchange in the US
• SEC’s Finhub to Host Public Forum on Blockchain, Digital Assets in May
• New Blockchain ETF Co-Operator Elwood Plans Fresh Crypto Investment Options || Why You Shouldn’t Worry about Crypto Whales Crashing the Bitcoin Price: In a very informative webinarproduced by Chainalysis today, the blockchain research firm made the surprising claim that crypto “whales” – individuals with more than $56 million in Bitcoin – pose no serious risk to theprice of Bitcoin.
Chainalysis defines a Bitcoin whale as an investor sitting on at least $56 million worth of BTC at current prices. | Source: Shutterstock
In the presentation titled “Who are Today’s Bitcoin and Bitcoin Cash Whales?,” Chainalysis breaks down the types of whales into several categories including “criminal whales,” “early adopter whales,” and “trading whales.”
One item of interest:Bitcoin Cashwhales, on average, hold about 250% of the crypto that regularBitcoinwhales hold. The company defines a BCH whale at about twice the rate they categorize a BTC whale. So, to be a whale by their definition, you must hold at least 15,000 BTC. To be a Bitcoin Cash whale, you must hold at least 30,000 BCH.
Early adopter holdings have dropped from 9% of all Bitcoin in circulation to roughly 5% today. The presenter told viewers that inflation via mining is only part of the reason for this – some whales did sell part of their holdings during bull runs. The company sees this as a sign of health for the crypto economy. They note that “trading whales” have the most positive effect of the whale classes – they provide a “stabilizing effect.”
Read the full story on CCN.com. || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 1: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoin’sdominancehas been steadily decreasing, which is now at50.1percent.
Trading interest and volume in Bitcoin might pick up after the launch of Bakkt. Though there is no word on the launch date yet, Bakkt continues to build a strong team. It has announced Tom Noonan, former cybersecurity expert at IBM, Cisco and Endgame, as thechairmanof its board of directors.
During the bull phase, ICOs offer astronomical returns. But during a bear market, most of them take a huge beating. As a result, interest in ICOs diminishes. In Q1 of this year, the ICO market could only raise$118 million, a far cry from the record $6.9 billion raised during Q1 of 2018. But as sentiment improves, this market could again come alive and projects with strong use cases should be able to raise money.
Bitcoin (BTC) is inching towards the overhead resistance of $4,255. The bulls have failed to break out of this resistance twice earlier, hence, we expect the bears to defend this level with full force.
However, if the bulls scale above this level, it will complete a double bottom pattern and will also trigger a number of stops on the short positions. This will result in a quick move to $4,914.11, followed by a move to $5,273.91. The upsloping moving averages and RSI close to the overbought zone shows that the bulls are in command.
Our view will prove to be wrong if theBTC/USDpair reverses direction from the current levels and drops below the moving averages. If the pair sustains below the 50-day SMA, a few more days of range-bound action can be expected. Traders can trail the stops on thelongpositions to $3,700.
Though Ethereum (ETH) closed above $144.78 on March 29, the bulls could not sustain the higher levels. However, the bullish sign is that the digital currency is trying to rebound from the 20-day EMA. If it can break out of $144.78 this time, a quick move to $167.32 is possible.
TheETH/USDpair will complete an ascending triangle pattern if it breaks out and closes (UTC time frame) above $167.32. The pattern target of this bullish set up is $251.64. Both the moving averages are sloping up gradually and the RSI is also in the positive territory. This suggests that the bulls have the upper hand. Therefore, traders can retain the stop loss on the remaininglongpositions at $125.
The traders are not showing any interest either in buying or selling Ripple (XRP). Therefor, the price has been idling around the current level for the past few days.
A breakout of the overhead resistance at $0.33108 and the resistance line of the descending channel will be the first indication that the bulls are back in action. Following a breakout of the descending channel, theXRP/USDpair is likely to start a new uptrend that can carry it to $0.60. The ascend might face minor hurdles between $0.40 and $0.45 and above it at $0.50 to $0.55. However, we expect all these hurdles to be crossed. We might suggest long positions once again if the price sustains above $0.33108.
Conversely, if the pair turns down and plummets below $0.27795, it will indicate weakness. The next support on the downside is the yearly low of $0.24508. The downtrend will resume if this support also cracks.
EOSis again facing stiff resistance at $4.4930, but it has not given up much ground like the previous instance on Feb. 24, when it plunged sharply after reaching the same level.
We expect the bulls to make another attempt to break out of the overhead resistance within the next 2–3 days. The next target to watch on the upside is $5.8370. The uptrending moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside.
Our bullish view will be negated if theEOS/USDpair turns down from the current levels and slips below both the moving averages. Therefore, traders can keep the stops on the remaininglongpositions at $3.70. We shall recommend booking partial profits again and trailing the stops higher within the next few days.
Litecoin (LTC) is facing stiff resistance at $61.9044. Repeated attempts by the bulls to scale this level have failed. Traders can book profits on 40 percent of the remaininglongpositions above $60 and keep the stop loss on the rest at $55. We have suggested booking some more profits at current levels due to the failure of the bulls to rise above the resistance and the negative divergence on the RSI is making us uncomfortable.
A fall below the 20-day EMA will be the first sign that theLTC/USDpair is losing strength. We anticipate a deeper fall if the bulls fail to defend $56.910. Below this support, the level to watch on the downside is the 50-day SMA. Contrary to our expectation, if the bulls push the price above $62, a rally to $69.2790 will be in the cards.
Bitcoin Cash (BCH) has been consolidating in a tight range for the past four days. A breakout of $177.30 will complete a rounding bottom formation that has a pattern target of $249.60. Both the moving averages are trending up gradually and the RSI is trading close to the overbought zone. This suggests that the bulls are at an advantage.
However, if theBCH/USDpair turns down from the current levels and plummets below the moving averages, it will lose momentum. The digital currency has a history of vertical rallies and waterfall declines. Hence, traders can protect theirlongpositions with the stop loss at $140.
Binance Coin (BNB) has extended its fabulous run as it attempts to break out of the stiff overhead resistance at $18. If the bulls can sustain this level, there is no visible resistance until the price reaches near $25. This will bring the digital currency close to the lifetime highs and will be a big sentiment booster.
We like how every support is being held and the cryptocurrency has been making a higher floor for itself during the rise. Both the moving averages are trending up and the RSI is close to the overbought one, which suggests that the bulls are firmly in the driver’s seat.
Traders can keep the stop loss on theremaininglongpositions at $15. We shall trail this higher if we find signs of profit booking at the lifetime highs.
Our bullish assumption will be invalidated if theBNB/USDpair fails to sustain above $18 and reverses direction. A fall below the 50-day SMA will indicate that the current leg of the up move is over.
Stellar (XLM) is struggling to break away from the 20-day EMA. The only positive is that the bulls have sustained above the 20-day EMA for the past five days. But if the price does not start an up move soon, it might face selling pressure again.
A breakdown of the 20-day EMA can sink theXLM/USDpair towards the uptrend line. If this support also gives way, the trend will turn in favor of the bears.
However, with both the moving averages gradually sloping up and the RSI in the positive territory, the path of least resistance is to the upside. We therefore suggest that traders hold thelongpositions with stops at $0.08.
Cardano (ADA) came close to $0.075 level both on March 29 and 30. We recommended that traders book partial profits closer to this level in ourpreviousanalysis.
The trend remains bullish as both the moving averages are sloping up and the RSI is in the overbought zone. Any dip is likely to be supported at the 20-day EMA. The next target on the upside is $0.082 and if that is crossed, the up move can extend to $0.094. Hence, we suggest traders trail the remaininglongpositions with stops at the breakeven. We shall soon suggest moving the stops to just below the 20-day EMA.
TheADA/USDpair will lose momentum if the price fails to rebound off the 20-day EMA. The trend will turn negative on a breakdown and close below the 50-day SMA.
Tron (TRX) is currently attempting to break out of the moving averages and the downtrend line. If the bulls sustain this breakout, the price can rally to the next overhead resistance of $0.02815521. This is a critical resistance as the price has repeatedly returned from it. Notwithstanding, if the bulls scale above it, a new uptrend is likely to start that can carry the digital currency to $0.040 and above it to $0.0480.
Due to the strong upside potential, we might again suggest long positions on a breakout and close (UTC time frame) above $0.02815521.
Contrary to our assumption, if theTRX/USDpair fails to break out and sustain above $0.02815521, it might remain range bound for a few more days. It will turn negative if it plummets below $0.01830.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 25
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 29
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 27
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 22 || Bitcoin Cash Pools: The Majority of Bitcoin SV Blocks Are Mined By ‘Unknown’ [Yes, Really]: Like Bitcoin and Bitcoin Cash, Bitcoin SV has large mining pools, each with a significant share of its SHA-256 hashrate. However, unlike the others, BSV has a nearly 44% majority who are “unknown,” according to data published by Coin.Dance.
Bitcoin SV blocks today according to Coin.dance.
Comparing the above to Bitcoin’s same period chart, about 500% of the blocks in Bitcoin SV are mined by “unknown” compared to Bitcoin.
Bitcoin Core blocks during the same period.
Read the full story onCCN.com. || Crypto Market ‘Bullish’ in Wake of Bitcoin’s 20% Surge: Cryptocurrency prime dealer SFOX says that this week's Bitcoin price rally is backed by strong fundamental indicators. | Source: Shutterstock Cryptocurrency prime dealer SFOX released its monthly volatility report this week, and while it is not all plain sailing for the crypto market the indicator clearly affirms that this week’s massive Bitcoin price rally was built on a firm foundation. SFOX: Low Volatility and Rising Investment Bolster Crypto’s Bull Case crypto market bullish sfox The crypto market remains “mildly bullish” heading into April. | Source: SFOX According to SFOX, the crypto market remained “mildly bullish” heading into April. In March, the main fundamentals were low volatility and increasing investment. Similar to February’s report , SFOX was encouraged by the continuing investment in cryptocurrency infrastructure despite Bitcoin’s sideways trend. “At the same time that crypto volatility was decreasing, reports told of major companies like Visa and Facebook investing in crypto technologies. This reinforces the narrative that the industry as a whole is continuing to mature, attracting the attention of more institutions as infrastructure improves.” Maturity is a big deal for an asset class that wants to become a widespread medium of exchange. Of the two corporations mentioned, the involvement of Visa is possibly the most interesting. Naturally, they have the most to lose from not evolving to the threat from Bitcoin. If Visa sees applications for cryptocurrency , this is a tremendous affirmation of the “usefulness” case argument. Bitcoin Cash, Litecoin, and Ethereum Classic Are Decoupling From Bitcoin Moving away from Bitcoin for a second, SFOX says that it appears that Litecoin , Bitcoin Cash , and Ethereum Classic are starting to move independently from BTC/USD. Read the full story on CCN.com . || US Crypto Exchange ErisX Hires Former Wells Fargo Executive as Business Developer: United States-based cryptocurrency exchange ErisX announced that it hired former Wells Fargo executive Kyle Unterseher as a business development executive. The news was reported in a Medium post published by the exchange’s head of marketing on March 5. In December 2018, ErisX raised $27.5 million from Fidelity, Nasdaq Ventures and other investors, with the goal of offering spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), as well as futures markets, pending regulatory approval in 2019. Unterseher joins the ErisX business development team and will be reporting directly to ErisX chief commercial officer Kelly Brown. In the post, Brown stated: “We were impressed with Kyle’s wide range of global experiences working with FCMs as well as in managing and operating critical growth departments [...] He is a significant addition to the team as we gear up to launch one platform for spot and regulated futures on digital assets.” Unterseher points out in the post that the exchange “has operated a regulated marketplace for over seven years before entering the cryptocurrency space.” As Cointelegraph reported in February, crypto exchange ErisX has also appointed three veterans from Barclays, YouTube and the Chicago Board Options Exchange to fill executive roles at the company. Moreover, in December last year, the company announced the appointment of veteran exchange founder Matt Trudeau as its chief strategy officer. In February, ErisX filed a comment letter with the U.S. Commodity Futures Trading Commission in response to the agency’s request for feedback on Ethereum ( ETH )’s mechanics and market, noting that the introduction of ETH future would have a positive impact. Related Articles: Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 6 Crypto Markets Mellow After a Surge of Growth, Stock Market Slightly Down Crypto Markets Recover $5 Billion Lost on Monday, Bitcoin Tests $3,900 Support Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 4
[Random Sample of Social Media Buzz (last 60 days)]
Both my top bags launch on the same date - 31st March Happy days! #nex #cs #nashexchange #creditsblockchain #credits #crypto #cryptocurrency #bitcoin || Precio: $71,377.84
Fuente: @Bitso #Bitso #BTCMXN $btc
Hora: 2019-02-27 16:00:02 (GMT-6) || SELL BTC@$3980.5 19.14% (-0.02) (LONG TERM)
BUY BTC@$3980.5 86.11% (+0.06) (MID TERM)
SELL BTC@$3980.5 47.76% (+0.02) (SHORT TERM)
BUY LTC@$59.92 60.38% (+0.00) || 04-02 17:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000018
HitBTC :0.00000017
LiveCoin:0.00000016
$SPD (JPY)
Yobit :0.10
HitBTC :0.09
LiveCoin:0.08 || #Bitcoin $3,871.88 v #BitcoinCash $276.06 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.35 v #BitcoinCash ~$0.00 - 2019/03/12 05:00JST || Quero Dolar a R$ 10,00.
Compre Bitcoin, se o dólar subir, o preço do BTC vai acompanhar a subida do Dolar aqui no Brasil.
BTC como reserva de valor! || NEW TRADE
Exchange: #Binance
#IOSTBTC
Buy Date : 2019-03-30 17:30:24
Sell Date : 2019-04-01 00:20:24
Buy : 0.00000240
Sell : 0.00000242
Profit : 0.83%
#IOST #bitcoin #projectxonline #probot #trading #tradebot #btc #cryptocurrency #blockchain #crypto #altcoin || 【緊急】ビットコインが今日明日狂乱相場になるって騒ぎになってるが、何時に気をつけてればいいんだ・・・？ #仮想通貨 $BTC http://ka-soku.com/archives/16642369.html …pic.twitter.com/ieyrvRPinJ || GUESS MY NUMBER BTC GIVEAWAY- (1) $50 DRAWING SECOND COMES LATER IN KOREA https://t.co/8ALtyf29Ap || Total Market Cap: $121,146,079,697
1 BTC: $3,635.21
BTC Dominance: 52.66%
Update Time: 16-02-2019 - 18:00:06 (GMT+3)
|
Trend: no change || Prices: 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-04-03]
BTC Price: 7456.11, BTC RSI: 39.61
Gold Price: 1332.80, Gold RSI: 51.95
Oil Price: 63.51, Oil RSI: 51.38
[Random Sample of News (last 60 days)]
Is AbbVie or Gilead Sciences Stock a Better Buy?: AbbVie Inc. (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD) are two of the world's biggest biotech stocks. However, their sales have been heading in different directions and each has offered up very different forecasts for 2018. Given that these titans are competing head to head for a share in the multibillion-dollar market for hepatitis C drugs, is one of these stocks a better buy than the other? Grading their growth It can pay to invest in companies that are growing sales and profit. By that measure, AbbVie is undeniably the better of the two stocks. A man in a suit with hands outstretched and palms up. A green dollar sign hovers above one palm, while a red dollar signs hovers over the other. IMAGE SOURCE: GETTY IMAGES. Because of increased competition from AbbVie and other hepatitis C drugmakers, Gilead Sciences' sales and earnings have been declining since 2016. Gilead Sciences remains a dominant force in HIV treatment, and HIV drug sales have been increasing thanks to the launch of new combination therapies that include TAF, a safer reformulation of the popular HIV drug Viread. However, Gilead Sciences' HIV revenue growth hasn't been able to offset declining demand for the company's hepatitis C medicine, and since sales are falling faster than expenses, the company's earnings are suffering. Gilead Sciences' hepatitis C sales fell 54% year over year to $1.5 billion in Q4 2017. Total revenue declined in 2017 to $26 billion from $30 billion in 2016, and EPS fell to $8.84 from $11.57. It's been a very different story at AbbVie. Growing demand for its best-selling drugs, Humira and Imbruvica, and new drug launches, including Mavyret, the company's latest hepatitis C treatment, are increasing sales by double-digit percentages. Sales of its best-selling drug, Humira, grew 14.6% to $18.4 billion, and revenue from its second best-selling drug, Imbruvica, soared 40.5% to $2.6 billion in 2017. The launch of Mavyret last August boosted AbbVie's hepatitis C revenue by 63% year over year to $510 million in Q4 2017. Those tailwinds translated into full-year sales of $28.2 billion, up 10% from one year ago, and EPS of $5.60, up from $4.82. With AbbVie's revenue and earnings rising and Gilead Sciences still descending, I have to give AbbVie the win in this category. Story continues A scientist studies a medicine capsule. IMAGE SOURCE: GETTY IMAGES. Pondering pipelines Gilead Sciences invests heavily in mergers and acquisitions and in research and development. And that means it has exciting drugs advancing through its drug pipeline. However, I have to give the advantage to AbbVie in this category, too. Gilead Sciences catapulted to the forefront of research into the use of gene therapies as cancer treatments when it acquired Kite Pharma for $11.9 billion last year, but it faces stiff competition in this field from many competitors, including Novartis (NYSE: NVS) and Celgene (NASDAQ: CELG) , that could limit that market opportunity. Gilead Sciences' Yescarta is the only CAR-T gene therapy on the market for late-stage non-Hodgkin lymphoma currently, but it generated only $7 million in sales since its launch last October. With Novartis' gene therapy, Kymriah, already under priority review for use in Yescarta's indication and Celgene's gene therapy, JCAR017, possibly being filed for FDA approval this year, Gilead Sciences may have to fight tooth-and-nail for market share. Gilead Sciences' filgotinib, an autoimmune-disease drug, and serotinib, a treatment for non-alcoholic fatty liver disease, appear promising, but we won't know just how promising until pivotal data emerges. Filgotinib's phase 3 rheumatoid arthritis data is expected this year, but we may have to wait until next year for more insight on serotinib. Arguably, AbbVie's pipeline has fewer question marks. FDA decisions are pending for Elagolix, an endometrioisis drug, and Venclexta, a chronic lymphocytic leukemia drug, that could eventually lead to blockbuster revenue. AbbVie also has three potential blockbuster drugs that it hopes to file for FDA approval soon: risankizumab, upadacitinib, and Rova-T. Risankizumab has already successfully completed phase 3 psoriasis trials, and a filing is planned by the end of June. Upadacitinib has already put up impressive data in one phase 3 rheumatoid arthritis study, and two more phase 3 studies are expected to have data available shortly that could support a filing before the end of this year. Rova-T may also be filed for approval this year if it delivers strong phase 2 results in third-line or greater small-cell lung cancer. According to management, all three drugs could be multibillion-dollar-per-year top sellers. A man in shirt and tie sits on the floor as paper money falls down around him. IMAGE SOURCE: GETTY IMAGES. Debating dividends Both companies offer income investors market-beating dividend yields, and each company has wads of cash at its disposal to boost dividends in the future. Gilead Sciences initiated its quarterly dividend in 2015, and since then, it's increased the payout from $0.43 to $0.57. Its fat operating margin means it generates more than enough free cash flow to support its dividend even though its sales are falling. In fact, its cash dividend payout ratio is only 23%, significantly lower than AbbVie's, which is north of 50%. Clearly, Gilead Sciences has wiggle room to return more money to investors through dividends. AbbVie's dividend potential may be even more compelling, though. Since being spun out of Abbott Labs in 2013, its dividend has increased by 140%. Given AbbVie's double-digit top- and bottom-line growth, a recent 35% increase to its quarterly dividend payment, multiple potential blockbuster approvals, and a forward dividend yield of 3.3% that's better than Gilead Sciences' 2.8% rate, AbbVie looks better here, too. One more thing The one category where Gilead Sciences shines versus AbbVie is in valuation. AbbVie trades at a forward P/E of 13 and a price-to-sales of 6.4, while Gilead Sciences trades at 12.3 times forward EPS and 3.9 times sales. Clearly, Gilead Sciences is cheaper than AbbVie. That alone might not be enough of a reason to favor it over AbbVie, though. Gilead Sciences is forecasting sales of between only $20 billion and $21 billion this year, down from $25.7 billion in 2016, and if its sales and profit fall faster than feared, then its valuation advantage could fade, especially if AbbVie over-delivers on its outlook for 13% sales growth this year. For this reason, I think AbbVie is the better stock to buy until Gilead Sciences proves its sales and profit have stopped declining. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Todd Campbell owns shares of Celgene and Gilead Sciences. His clients may have positions in the companies mentioned. The Motley Fool owns shares of and recommends Celgene and Gilead Sciences. The Motley Fool has a disclosure policy . || Bitcoin Price Holds Above $8,500 as Market Fights to Cement Recovery: bitcoin price The Bitcoin price held above $8,500 on Tuesday as the market fought to cement yesterdays widespread recovery. On Monday, the cryptocurrency market cap swelled by $45 billion , with virtually every top-tier cryptocurrency experiencing a double-digit percentage advance against the US dollar. The market ebbed from its intraday high leading into Tuesday morning, but it is still valued at $326 billion , which represents a 24-hour increase of four percent. bitcoin price This recovery has correlated with a decrease in the likelihood that the present G20 summit will produce a meaningful international framework on cryptocurrency regulations, though it is unclear what direct impact this development has had on the market writ-large. Bitcoin Price Hold Above $8,500 The Bitcoin price lagged the index slightly on Tuesday, rising three percent to $8,513 on Hong Kong-based cryptocurrency exchange Bitfinex. Bitcoin now has a market cap of $145.1 billion, which translates into a 44 percent share of the index. bitcoin price Ethereum Price Posts Lackluster Return The Ethereum price , meanwhile, fared even worse, rising less than one percent for the day to a present value of $531. Ethereum now has a $52.6 billion market cap, providing the second-largest cryptocurrency with a market share of just under 16 percent. ethereum price EOS, Cardano Continue Double-Digit Surge The wider altcoin markets posted generally-positive returns, with the days top performances coming from EOS and Cardano. bitcoin price Ripple, which was yesterdays large-cap leader, posted another solid gain with an index-matching four percent increase to $0.68. Bitcoin Cash also rose four percent, raising its price to $980, while Litecoin rose less than three percent to $160. The days top performances came from EOS and Cardano, which leaped by 20 percent and 13 percent, respectively, to present values of $5.75 and $0.18. NEO, ranked eighth, struggled to keep pace with its peers but still beat the index with a 24-hour gain of six percent, while Stellars XLM token soared in value by eight percent to $0.24. Story continues IOTA rounded out the markets top tier with a 10 percent surge that raised its price to $1.35. Featured image from Shutterstock. The post Bitcoin Price Holds Above $8,500 as Market Fights to Cement Recovery appeared first on CCN . || 5 of the Most Disruptive Stocks in Healthcare: Investing in companies that are revolutionizing healthcare can be profit-friendly, but deciding what stocks to buy can be hard. Healthcare innovation can come in fits and starts and revenue streams are only as certain as the patents protecting them. Here are five of the most disruptive stocks that investors can buy today.
There's no denying that brand-name drugs are expensive, but at leastCelgene's(NASDAQ: CELG)using a lot of its profit to finance envelope-pushing science that may pan out intonext-generation medicines.
Image source: Getty Images.
Celgene's collaboration partners include gene therapy pioneerJuno Therapeutics, which it recently acquired andbluebird bio. Both of those companies are working on ways to supercharge a patient's immune system to fight cancer.
It's also working withAgios,Jounce Therapeutics,Epizyme, andAcceleron Therapeuticson drugs that could someday change how doctors treat various tough-to-tackle diseases. For example, Agios isworking onleukemia drugs that work by targeting metabolic mutations and Jounce Therapeutics isdeveloping a drugthat could help immunotherapies like PD-1 inhibitors work better in solid tumor cancer.
Celgene also provides venture capital to help new biotech companies get off the ground. For instance, it was anearly investorinCRISPR Therapeutics, a biotech researching the use of genetic scissors to cut and replace DNA mutations to cure genetic disease.
Granted, there's no guarantee these efforts will result in new standards of care, but it's possible, and that makes Celgene one of the most disruptive companies in healthcare.
Manipulating genetic code to reduce or boost proteins that contribute to disease is one of the biggest trends in medicine and these drug discoveries are often being enabled by gene sequencers made byIllumina, Inc.(NASDAQ: ILMN), the market-share leading player in the industry.
Illumina's machines have significantly improved the speed and cost of gene sequencing and as a result, researchers are using its machines to make new genetic breakthroughs in ways that were only imagined 10 years ago. Illumina launched its latest sequencer last year and eventually, new technology could lower the cost of gene sequencing to as little as $100. If that happens, genetic screening and treatment could become much more common.
The company's alsoinvesting in new waysto make the genetic information gathered by its sequencers more useful. It's investing seed money and experience in Helix, a company that's building a DNA repository and app store, and Grail, a company working on new detection technology that may allow doctors to catch cancer in its earliest stages via a simple blood test.
Robotic surgery isn't science fiction, it's already being commonly used in hospitals worldwide thanks toIntuitive Surgical's(NASDAQ: ISRG)da Vinci surgical robot.
Using technology developed to provide surgery on the battlefield, Intuitive Surgical's da Vinci system has already been used to perform over 5 million surgeries. As more providers discover the advantages of robotic surgery, including improved recovery times and fewer complications, that number will climb. In 2017 alone there were 875,000 procedures done using da Vinci systems.
Currently, da Vincis are most commonly used to perform urology and gynecological procedures, but increasingly they're being used in other minimally invasive laparoscopic procedures such as hernia repair and colorectal surgery. As these systems get more advanced and surgeons become even more proficient with them, robotic surgery is likely to become mainstream.
Image source: Getty Images.
Drug prices get the press for contributing to healthcare's runaway cost, but expenses tied to everyday care, such as primary care and specialty care doctor visits, are the biggest cost culprits. To bend the cost curve,Teladoc(NYSE: TDOC)is partnering with insurers to provide patients withvirtual doctor visits.
Patients can use their smartphone or a computer to discuss health concerns with care providers, often on short notice, and this telehealth option can improve scheduling and reduce costs, all while eliminating the need to wait in a lobby.
Teladoc is changing how patients get second opinions for more complex healthcare, too. Last year, it acquired Best Doctors, a virtual second opinions company. Best Doctors' physicians are rated as being at the top of their specialty by their peers, and their experience is already being leveraged to improve patient outcomes and lower costs.
Genetic treatments, including those being developed by Celgene's partners, could be the future, but Celgene's far from the only company working on gene therapy and gene editing.
For example,Sangamo Therapeutics(NASDAQ: SGMO)is knee-deep in clinical trials using zinc finger nuclease (ZFN) technology to rewrite genetic code to help hemophilia patients and recently,Gilead Sciencesinked a dealto see if this technology can be used to create next-generation gene therapies that work better.
It will be a bit before we know for sure if those approaches succeed, but tinkering with genetic code to treat disease may not be as far off in the future as you think. In December, theFDA approveda gene therapy bySpark Therapeuticsthat inserts a functional copy of a gene into a person's eye to restore their vision. The drug, Luxturna, can only be used in people with RPE65 mutation-associated retinal dystrophy, but the potential to develop one-and-done treatments that provide life-altering results like this is starting to be realized.
Overall, these companies are disruptive in different ways, but they all share one thing in common, a seemingly unquenchable desire to change healthcare as we know it. They're likely to suffer disappointments along the way, but long-term, each is a company that investors ought to be considering for their portfolios.
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Todd Campbellowns shares of Celgene and Gilead Sciences. His clients may have positions in the companies mentioned.The Motley Fool owns shares of and recommends Bluebird Bio, Celgene, Gilead Sciences, Illumina, and Intuitive Surgical. The Motley Fool recommends Teladoc. The Motley Fool has adisclosure policy. || Market Ignores Impressive Earnings Performance: The market’s head-long plunge over the past week or so has been squarely in the face of an extremely impressive display of earnings power from corporate America. As we have been pointing out since the start of the Q4 earnings season, not only is an above average proportion of companies beating top and bottom line expectations, but estimates for the current period are also materially going up. Market participants are undoubtedly in the grip of a fear; they appear to be dumping stocks first and asking questions later. There is some basis for the fear. After all, if interest rates were breaking out with inflation finally showing up on the horizon, then it would make sense for prices to adjust lower. Stock prices are nothing but the discounted values of future cash flows. And if the discount rates were going up, then everything else equal, prices should drop. But we know that ‘everything else isn’t equal’. Estimates for earnings and cash flows are going up at a pace that we haven’t seen in years. The chart below that we have been sharing here since the Q4 earnings season got underway shows a trend that we haven’t seen in years; definitely not since 2011. And it’s not just 2018 Q1 estimates that are going, estimates for the following quarters and full-year 2018 are also going up. The chart below shows how estimates for full-year 2018 have evolved over the last few months. Impressively, the revisions trend is broad-based and not concentrated in one or a few sectors. Of the 16 Zacks sectors, Q1 estimates have gone up for 15 sectors. The Conglomerates sector is the only one that has estimates come down, which is a function of the never-ending General Electric (GE) saga. The ongoing market sell-off is likely nothing more than a correction. It is definitely not a function of an impending fundamentals cliff. The fundamentals story is about as solid and reassuring as it has even been in the recent past. Unless 10-year Treasury yields were headed towards 4% in a short span, I remain unconvinced of the pullback’s staying power. What this means is that the bull run that got underway in 2009 is still in place. Rationality typically takes the back seat in the stampede towards the exits, but sanity does eventually return. It always does. If nothing else, market valuations are starting to become very attractive. The S&P 500 index is now trading 16.9X forward 12-month consensus estimates, the lowest point since the November 2016 election. The index was trading as high as 19X in late November. Q4 Earnings Season Scorecard (as of Friday, February 9, 2018) Total earnings for the 341 S&P 500 members that have reported results already are up +14.7% from the same period last year on +9.3% higher revenues, with 78.6% beating EPS estimates and 76.8% beating revenue estimates. The proportion of companies beating both EPS and revenue estimates is 63.6%. To put these results in a historical context, the charts below compare the results thus far with what we had seen from the same group of 341 index members in other recent periods. Story continues Any way you look at these results, the Q4 earnings season is on track to be very good. Not only is growth tracking above what we had seen from the same group of 341 index members, but a record proportion are beating EPS and revenue estimates. The comparison charts below highlight the very strong revenue momentum that’s coming out of the Q4 earnings season, a truly impressive performance. Expectations for Q4 As a Whole We have more than 300 companies on deck to report results this week, including 57 S&P 500 members. Pepsi (PEP), Coke (KO), Deere (DE) and Under Amour (UAA) are some of the notable reports coming out this week. Looking at Q4 as a whole, combining the actual results from the 341 index members with estimates from the still-to-come 159 companies, total earnings are expected to be up +14.1% from the same period last year on +8.2% higher revenues. This would follow +6.7% earnings growth in 2017 Q3 on +5.8% growth in revenues. This will be the highest quarterly growth rate in years. The table below shows the summary picture for Q4, contrasted with what was actually achieved in Q3. The chart below shows Q4 earnings growth expectations contrasted with what is expected in the following three quarters and actual results in the preceding 5 quarters. As you can see in the chart below, the growth pace is expected to pick up in Q4 after dipping in the preceding quarter and continue accelerating going forward. The Small-Cap Scorecard – S&P 600 Index For the S&P 600 index, we now have Q4 results from 240 index members or 39.9% of the index’s total membership. Total earnings for these 240 index members are up +12.1% from the same period last year on +10.3% higher revenues, with 69.6% beating EPS estimates and 72.1% beating revenue estimates. The charts below compare the results thus far with what we had seen from the same group of 240 index members in other recent periods. The table below shows the blended picture, combining the actual results that have come out with estimates for the still-to-come companies, for Q4 for the small-cap index. The chart below puts the small-cap index’s expected Q4 performance in the context of where growth has come from and where it is expected to go in the coming quarters. Note: Sheraz Mian manages the Zacks equity research department. He is an acknowledged earnings expert whose commentaries and analyses appear on Zacks.com and in the print and electronic media. His weekly earnings related articles include Earnings Trends and Earnings Preview. He manages the Zacks Top 10 and Focus List portfolios and writes the Weekly Market Analysis article for Zacks Premium subscribers. Don’t Even Think About Buying Bitcoin Until You Read This The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017. Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 4 crypto-related stocks now >> Here is a list of the 387 companies including 57 S&P 500 and reporting this week. Company Ticker Current Qtr Year-Ago Qtr Last EPS Surprise % Report Day Time LOEWS CORP L 0.72 0.79 2200.00% Monday BTO CNA FINL CORP CNA 0.82 0.82 132.00% Monday BTO FIRST DATA CORP FDC 0.38 0.34 5.71% Monday BTO DIAMOND OFFSHOR DO 0 0.85 31.58% Monday BTO RESTAURANT BRND QSR 0.57 0.44 18.37% Monday BTO INSPERITY INC NSP 0.37 0.22 13.25% Monday BTO RAPID7 INC RPD -0.28 -0.22 6.90% Monday BTO USA COMPRESSION USAC 0.11 0.07 0.00% Monday BTO CERAGON NETWRKS CRNT 0.04 0.07 0.00% Monday BTO HEINEKEN NV HEINY N/A N/A N/A Monday BTO BOARDWALK PIPLN BWP 0.4 0.35 3.85% Monday BTO NORDIC AMERICAN NAT -0.17 -0.02 -41.67% Monday BTO BRIGHTHOUSE FIN BHF 2.11 N/A 13.95% Monday AMC FMC CORP FMC 1.03 0.88 11.11% Monday AMC VORNADO RLTY TR VNO 0.96 1.13 1.96% Monday AMC WATTS WATER TEC WTS 0.73 0.64 2.56% Monday AMC INTRICON CORP IIN 0.06 -0.12 66.67% Monday AMC RINGCENTRAL INC RNG -0.08 -0.08 30.00% Monday AMC MOLINA HLTHCR MOH 0.23 0.63 391.30% Monday AMC ARCH CAP GP LTD ACGL 1.13 1.13 -33.90% Monday AMC APTARGROUP INC ATR 0.71 0.69 3.75% Monday AMC DUN &BRADST-NEW DNB 3.03 2.99 13.29% Monday AMC GENPACT LTD G 0.37 0.41 19.44% Monday AMC QUALYS INC QLYS 0.18 0.15 61.54% Monday AMC CHEGG INC CHGG 0.04 0 11.11% Monday AMC NORTHWESTERN CP NWE 1.02 0.96 7.14% Monday AMC MIMECAST LTD MIME -0.04 -0.06 33.33% Monday AMC VARONIS SYSTEMS VRNS 0.14 0.12 29.41% Monday AMC QUANTENNA COMMS QTNA -0.1 0 600.00% Monday AMC TIER REIT INC TIER 0.41 0.4 -5.56% Monday AMC AMKOR TECH INC AMKR 0.19 0.42 21.05% Monday AMC CEMENTOS PACASM CPAC N/A 0.03 55.56% Monday AMC DANAOS CORP DAC 0.21 0.21 12.50% Monday AMC LUMINEX CORP LMNX 0.09 -0.08 850.00% Monday AMC OTTER TAIL CORP OTTR 0.44 0.44 15.38% Monday AMC VEECO INSTRS-DE VECO -0.02 0 42.86% Monday AMC VIPSHOP HOLDNGS VIPS 0.15 0.19 0.00% Monday AMC SUNSTONE HOTEL SHO 0.26 0.29 3.33% Monday AMC BRIXMOR PPTY GP BRX 0.5 0.53 1.96% Monday AMC INSTRUCTURE INC INST -0.43 -0.46 8.70% Monday AMC INVITAE CORP NVTA -0.61 -0.69 -3.64% Monday AMC SERVICESOURCE SREV 0.03 -0.02 0.00% Monday AMC UNDER ARMOUR-A UAA 0.01 0.23 15.79% Tuesday BTO PEPSICO INC PEP 1.3 1.2 4.23% Tuesday BTO MARTIN MRT-MATL MLM 1.45 1.55 -4.02% Tuesday BTO HCP INC HCP 0.47 0.59 4.35% Tuesday BTO LOUISIANA PAC LPX 0.58 0.23 -6.67% Tuesday BTO CHARLES RVR LAB CRL 1.26 1.21 6.56% Tuesday BTO GENERAC HOLDING GNRC 1.2 1.12 4.49% Tuesday BTO TRANSUNION TRU 0.45 0.42 6.98% Tuesday BTO ARCH COAL INC ARCH 2.32 N/A 60.76% Tuesday BTO DANA INC DAN 0.53 0.59 5.36% Tuesday BTO NEXPOINT REIT NXRT 0.37 0.39 13.51% Tuesday BTO WEIBO CORP ADS WB 0.53 0.19 9.76% Tuesday BTO ALLIANCEBERNSTN AB 0.66 0.67 -1.92% Tuesday BTO HIMAX TECH-ADR HIMX 0.15 0.03 100.00% Tuesday BTO SINA CORP SINA 0.5 0.27 29.41% Tuesday BTO TOWER INTL INC TOWR 1.13 1.02 10.39% Tuesday BTO AIRCASTLE LTD AYR 0.58 0.86 17.91% Tuesday BTO NOVA MEASURING NVMI 0.37 0.4 16.22% Tuesday BTO RADCOM LTD RDCM 0.07 -0.03 1100.00% Tuesday BTO ARES CAP CP ARCC 0.37 0.42 2.86% Tuesday BTO BLUE APRON HLDG APRN -0.27 N/A -11.90% Tuesday BTO ON DECK CAPITAL ONDK 0 -0.5 -200.00% Tuesday BTO DIEBOLD INC DBD 0.35 0.32 480.00% Tuesday BTO ENDURANCE INTL EIGI -0.17 -0.26 -61.11% Tuesday BTO STUDENT TRANSPT STB 0.06 0.07 33.33% Tuesday BTO SEQUANS COMM SQNS -0.08 -0.07 0.00% Tuesday BTO OCCIDENTAL PET OXY 0.4 -0.13 63.64% Tuesday AMC DAVITA INC DVA 0.91 0.98 -13.83% Tuesday AMC FED RLTY INV FRT 1.47 1.45 2.04% Tuesday AMC METLIFE INC MET 1.1 1.35 21.11% Tuesday AMC WESTERN UNION WU 0.44 0.47 20.45% Tuesday AMC CENTURY COMMUNT CCS 0.62 0.71 82.50% Tuesday AMC SERVICE CORP IN SCI 0.45 0.47 26.92% Tuesday AMC KEMPER CORP KMPR 0.17 0.56 203.57% Tuesday AMC BIOVERATIV INC BIVV 0.75 N/A 14.55% Tuesday AMC CNO FINL GRP CNO 0.41 0.35 15.38% Tuesday AMC ENPRO INDUS INC NPO 0.65 0.15 -17.98% Tuesday AMC TRUPANION INC TRUP -0.03 -0.06 125.00% Tuesday AMC REGIONAL MANAGE RM 0.6 0.56 -3.33% Tuesday AMC DIAMONDBACK EGY FANG 1.52 0.9 6.40% Tuesday AMC ANTERO RESOURCE AR 0.08 0.16 -66.67% Tuesday AMC REXFORD IND RTY REXR 0.25 0.23 4.17% Tuesday AMC DCP MIDSTREAM DCP 0.29 0.38 -166.67% Tuesday AMC HUBSPOT INC HUBS -0.24 -0.39 41.94% Tuesday AMC RETAIL PROPERTS RPAI 0.23 0.25 4.00% Tuesday AMC INVUITY INC IVTY -0.5 -0.56 5.45% Tuesday AMC CARBONITE INC CARB 0.19 0.04 18.18% Tuesday AMC CORNERSTONE OND CSOD -0.07 -0.25 -5.88% Tuesday AMC CHANNELADVISOR ECOM -0.04 0.21 11.76% Tuesday AMC FOSSIL GRP INC FOSL 0.39 1.36 128.57% Tuesday AMC OMEGA HLTHCARE OHI 0.76 0.88 -4.82% Tuesday AMC ANTERO MIDSTR AMGP 0.08 N/A -66.67% Tuesday AMC FRANKLIN ST PPT FSP 0.25 0.25 0.00% Tuesday AMC BLACKSTONE MRTG BXMT 0.55 0.57 12.50% Tuesday AMC CALIX INC CALX -0.19 -0.22 -17.24% Tuesday AMC ENSYNC INC ESNC -0.06 -0.09 0.00% Tuesday AMC KORNIT DIGITAL KRNT 0.02 0.13 200.00% Tuesday AMC LATTICE SEMICON LSCC 0.02 0.07 300.00% Tuesday AMC TALLGRASS ENRGY TEGP 0.22 0.17 -25.00% Tuesday AMC LUXOFT HOLDING LXFT 0.63 0.67 24.53% Tuesday AMC MAXLINEAR INC-A MXL 0.26 0.31 30.43% Tuesday AMC ACACIA RESEARCH ACTG -0.03 -0.04 4800.00% Tuesday AMC ABSOLUTE SOFTWR ALSWF 0.01 -0.05 50.00% Tuesday AMC DENNY'S CORP DENN 0.14 0.17 0.00% Tuesday AMC INNOSPEC INC IOSP 1.13 1.09 17.65% Tuesday AMC ADESTO TECH CP IOTS 0.02 -0.09 300.00% Tuesday AMC NORTH AMER EGY NOA 0.09 -0.01 60.00% Tuesday AMC NATL RESEARCH-A NRCIA 0.22 0.23 -57.14% Tuesday AMC NATL RESEARCH NRCIB N/A 0.23 -60.87% Tuesday AMC TALEND SA-ADR TLND -0.36 -0.16 34.62% Tuesday AMC TELEKOM AUSTRIA TKAGY N/A 0.33 N/A Tuesday AMC VOYA FINANCIAL VOYA 0.83 0.91 -43.33% Tuesday AMC DOUGLAS EMMETT DEI 0.49 0.47 0.00% Tuesday AMC ANTERO MIDSTRM AM 0.31 0.37 -19.51% Tuesday AMC TANGER FACT OUT SKT 0.63 0.61 -55.00% Tuesday AMC COMPASS MINERLS CMP 1.49 1.35 -13.33% Tuesday AMC QUOTIENT TECH QUOT 0 0 -500.00% Tuesday AMC TWILIO INC-A TWLO -0.18 -0.1 -20.00% Tuesday AMC AMER MOVIL-ADR AMX 0.14 -0.09 -28.13% Tuesday AMC BAIDU INC BIDU 1.65 1.6 84.69% Tuesday AMC TALLGRASS ENRGY TEP 0.69 0.6 0.55% Tuesday AMC AMER ASSETS TR AAT 0.54 0.48 -3.70% Tuesday AMC ELLINGTON FINL EFC 0.26 0.27 -20.00% Tuesday AMC ARGO GROUP INTL AGII 0.89 0.65 13.96% Tuesday AMC RANDSTAD HOLDNG RANJY N/A 0.59 9.26% Tuesday N/A HARMONY GOLD HMY N/A N/A N/A Tuesday N/A TUI AG ADR TUIFY N/A -0.09 N/A Tuesday N/A HILTON WW HLDG HLT 0.44 0.7 12.00% Wednesday BTO IQVIA HOLDINGS IQV 1.34 1.09 4.39% Wednesday BTO DR PEPPER SNAPL DPS 1.17 1.04 -4.35% Wednesday BTO FLIR SYSTEMS FLIR 0.57 0.52 8.33% Wednesday BTO MOLSON COORS-B TAP 0.56 0.46 0.00% Wednesday BTO INTERPUBLIC GRP IPG 0.77 0.75 -6.06% Wednesday BTO WYNDHAM WORLDWD WYN 1.35 1.35 1.50% Wednesday BTO CMS ENERGY CMS 0.51 0.29 12.73% Wednesday BTO LITHIA MOTORS LAD 2.1 1.86 -8.79% Wednesday BTO TECK RESOURCES TECK 1.06 1.21 -9.47% Wednesday BTO INTERCEPT PHARM ICPT -3.57 -4.84 18.59% Wednesday BTO TEREX CORP TEX 0.25 0.07 38.89% Wednesday BTO NOW INC DNOW -0.07 -0.29 25.00% Wednesday BTO LINCOLN ELECTRC LECO 0.96 0.81 0.00% Wednesday BTO CEDAR FAIR FUN 0.2 -0.12 4.32% Wednesday BTO SHIRE PLC-ADR SHPG 3.86 3.37 4.67% Wednesday BTO GROUPON INC GRPN 0.05 0.03 75.00% Wednesday BTO AGIOS PHARMACT AGIO -1.65 -1.34 8.62% Wednesday BTO SUMMIT MATERLS SUM 0.25 0.21 -12.05% Wednesday BTO SABRE CORP SABR 0.22 0.25 20.83% Wednesday BTO WIX.COM LTD WIX -0.13 -0.12 -180.00% Wednesday BTO ACCO BRANDS CP ACCO 0.44 0.32 6.06% Wednesday BTO ORBOTECH LTD ORBK 0.85 0.66 7.50% Wednesday BTO ALKERMES INC ALKS -0.01 -0.04 40.00% Wednesday BTO ISRAEL CHEM LTD ICL 0.08 0.09 12.50% Wednesday BTO MAZOR ROBOTICS MZOR N/A -0.18 55.88% Wednesday BTO SODASTREAM INTL SODA 0.78 0.71 17.57% Wednesday BTO CHIMERA INVEST CIM 0.61 0.65 8.77% Wednesday BTO CYREN LTD CYRN -0.08 -0.05 -50.00% Wednesday BTO H2O INNOVATION HEOFF 0.01 -0.01 0.00% Wednesday BTO NEW HOME CO LLC NWHM 0.64 0.76 40.00% Wednesday BTO TUCOWS INC TCX 0.74 0.26 -36.00% Wednesday BTO COCA-COLA HBC CCHGY N/A N/A N/A Wednesday BTO CREDIT AGRICOLE CRARY N/A 0.03 N/A Wednesday BTO CREDIT SUISSE CS N/A -1.1 N/A Wednesday BTO SCORPIO TANKERS STNG -0.08 -0.18 -36.36% Wednesday BTO BLUERCK RG REIT BRG 0.04 0.18 533.33% Wednesday BTO GEO GRP INC/THE GEO 0.5 0.69 34.04% Wednesday BTO PHOTRONICS INC PLAB 0.05 0.03 33.33% Wednesday BTO AERCAP HLDGS NV AER 1.38 2.18 10.20% Wednesday BTO CRITEO SA-ADR CRTO 0.74 0.64 -7.32% Wednesday BTO BUNGE LTD BG 1.66 1.7 -5.06% Wednesday BTO OWENS & MINOR OMI 0.34 0.52 -20.00% Wednesday BTO COLLIERS INT GP CIGI 1.21 1.2 -57.69% Wednesday BTO VERU INC VERU -0.03 -0.04 -150.00% Wednesday BTO APPLD MATLS INC AMAT 0.98 0.67 2.20% Wednesday AMC MARRIOTT INTL-A MAR 1 0.85 12.24% Wednesday AMC CIMAREX ENERGY XEC 1.38 0.6 12.37% Wednesday AMC AGILENT TECH A 0.58 0.53 6.35% Wednesday AMC TRIPADVISOR INC TRIP 0.04 0.05 15.00% Wednesday AMC CISCO SYSTEMS CSCO 0.53 0.53 0.00% Wednesday AMC MARATHON OIL CP MRO 0.02 -0.1 42.86% Wednesday AMC NETAPP INC NTAP 0.74 0.72 27.27% Wednesday AMC CF INDUS HLDGS CF -0.11 -0.39 29.09% Wednesday AMC EQUINIX INC EQIX 4.22 4.08 20.92% Wednesday AMC CENTURYLINK INC CTL 0.22 0.54 -6.67% Wednesday AMC INTL F & F IFF 1.3 1.22 3.52% Wednesday AMC WILLIAMS COS WMB 0.2 0.17 -21.05% Wednesday AMC ALLISON TRANSMN ALSN 0.59 0.36 56.25% Wednesday AMC RUSH ENTRPRS-A RUSHA 0.55 0.31 50.00% Wednesday AMC ONEMAIN HOLDNGS OMF 1.05 0.8 -12.50% Wednesday AMC ON ASSIGNMENT ASGN 0.76 0.64 10.67% Wednesday AMC HYATT HOTELS CP H 0.19 0.29 52.94% Wednesday AMC OIL STATES INTL OIS -0.23 -0.2 -12.50% Wednesday AMC BARRICK GOLD CP ABX 0.21 0.22 -5.88% Wednesday AMC GOLDCORP INC GG 0.12 0.12 0.00% Wednesday AMC KINROSS GOLD KGC 0.04 -0.04 250.00% Wednesday AMC Q2 HOLDINGS INC QTWO -0.11 -0.12 33.33% Wednesday AMC AGNICO EAGLE AEM 0.2 0.28 64.71% Wednesday AMC WASTE CONNECTN WCN 0.49 0.45 3.45% Wednesday AMC WILLIAMS PTR LP WPZ 0.44 0.24 -30.77% Wednesday AMC SAFE BULKERS SB 0 -0.09 -25.00% Wednesday AMC WARRIOR MET COA HCC 1 N/A 0.44% Wednesday AMC SUN LIFE FINL SLF 0.83 0.89 6.41% Wednesday AMC CHEMOURS COMPNY CC 0.95 0.08 10.89% Wednesday AMC CORECIVIC INC CXW 0.55 0.72 1.85% Wednesday AMC HAWAIIAN ELEC HE 0.41 0.41 -3.51% Wednesday AMC ANNALY CAP MGMT NLY 0.3 0.3 3.45% Wednesday AMC INSIGHT ENTRPRS NSIT 0.79 0.72 7.35% Wednesday AMC SOLAREDGE TECH SEDG 0.51 0.22 35.56% Wednesday AMC CHEMED CORP CHE N/A 2.02 10.94% Wednesday AMC CONS PORTFOLIO CPSS 0.16 0.26 0.00% Wednesday AMC EQUITY COMMONWL EQC 0.2 0.23 -8.33% Wednesday AMC GLADSTONE COMML GOOD 0.38 0.38 0.00% Wednesday AMC NEENAH PAPER NP 0.92 1.1 4.08% Wednesday AMC URBAN EDGE PROP UE 0.34 0.33 -2.86% Wednesday AMC ANDERSONS INC ANDE 0.38 0.36 -43.75% Wednesday AMC APOLLO COMMERCL ARI 0.1 0.47 28.57% Wednesday AMC CARRIAGE SVCS-A CSV 0.39 0.36 -34.21% Wednesday AMC CUTERA INC CUTR N/A 0.3 333.33% Wednesday AMC MATTERSIGHT CP MATR -0.1 -0.13 28.57% Wednesday AMC PARKER DRILLING PKD -0.17 -0.33 28.57% Wednesday AMC QUICKLOGIC CORP QUIK -0.04 -0.05 0.00% Wednesday AMC SUNPOWER CORP-A SPWR -0.09 -0.73 126.42% Wednesday AMC HEALTHCARE RLTY HR 0.39 0.41 -2.56% Wednesday AMC PENN RE INV TR PEI 0.48 0.57 2.44% Wednesday AMC PROTHENA CP PLC PRTA -1.44 -1.41 2.84% Wednesday AMC IRHYTHM TECH IRTC -0.35 -0.37 14.71% Wednesday AMC PILGRIMS PRIDE PPC 0.53 0.28 27.27% Wednesday AMC VANDA PHARMACT VNDA -0.12 -0.01 0.00% Wednesday AMC MARTIN MIDSTRM MMLP 0.36 0.49 -157.14% Wednesday AMC ARRIS INTL PLC ARRS 0.7 0.7 20.97% Wednesday AMC JMP GROUP INC JMP 0.06 0.13 66.67% Wednesday AMC DAIKIN INDS LTD DKILY N/A N/A N/A Wednesday N/A GOLD FIELDS-ADR GFI N/A N/A N/A Wednesday N/A RECRUIT HLDGS RCRRF N/A 0.1 N/A Wednesday N/A TOKIO MARINE HL TKOMY N/A 0.9 N/A Wednesday N/A HUNTINGTON INGL HII 2.91 3.67 17.63% Thursday BTO ZOETIS INC ZTS 0.66 0.47 3.17% Thursday BTO WASTE MGMT-NEW WM 0.83 0.75 2.27% Thursday BTO INCYTE CORP INCY -0.49 0.15 183.33% Thursday BTO GLOBAL PAYMENTS GPN 1.01 0.89 9.71% Thursday BTO EQT CORP EQT 0.22 0.25 340.00% Thursday BTO KIMCO REALTY CO KIM 0.38 0.38 2.70% Thursday BTO TEXTAINER GROUP TGH 0.19 -0.24 135.71% Thursday BTO AARONS INC AAN 0.54 0.5 -20.37% Thursday BTO PATRICK INDS PATK 0.73 0.59 14.89% Thursday BTO PBF ENERGY INC PBF 0.21 -0.71 18.03% Thursday BTO ICON PLC ICLR 1.41 1.26 3.05% Thursday BTO SHOPIFY INC SHOP -0.12 -0.1 47.06% Thursday BTO PRECISION DRILL PDS -0.08 -0.08 22.22% Thursday BTO RELIANCE STEEL RS 1 0.84 8.33% Thursday BTO TREEHOUSE FOODS THS 0.93 1.14 -11.84% Thursday BTO CYBER-ARK SFTWR CYBR 0.22 0.3 125.00% Thursday BTO SONOCO PRODUCTS SON 0.73 0.62 2.70% Thursday BTO ARES MANAGEMENT ARES 0.48 0.44 2.56% Thursday BTO COCA-COLA EU PT CCE 0.55 0.46 0.00% Thursday BTO ENCANA CORP ECA 0.1 0.09 -60.00% Thursday BTO IRONWOOD PHARMA IRWD -0.21 -0.12 21.74% Thursday BTO COMMSCOPE HLDG COMM 0.43 0.59 1.96% Thursday BTO PBF LOGISTICS PBFX 0.59 0.57 8.62% Thursday BTO WEST PHARM SVC WST 0.62 0.54 26.42% Thursday BTO ALLETE INC ALE 0.79 0.89 9.47% Thursday BTO CINCINNATI BELL CBB 0 0.01 250.00% Thursday BTO EQT GP HOLDINGS EQGP 0.28 0.22 0.00% Thursday BTO HECLA MINING HL 0.02 0.03 100.00% Thursday BTO NICE LTD NICE 0.77 1 16.67% Thursday BTO POOL CORP POOL 0.17 0.06 1.75% Thursday BTO BLUCORA INC BCOR -0.31 -0.21 29.63% Thursday BTO FORTIS INC FTS 0.49 0.48 6.52% Thursday BTO GENOCEA BIOSCI GNCA -0.38 -0.56 -7.27% Thursday BTO LANDMARK INFRAS LMRK 0.14 0.34 0.00% Thursday BTO BANK OF NT BUTR NTB 0.76 0.62 5.71% Thursday BTO RICE MIDSTREAM RMP 0.41 0.46 29.73% Thursday BTO US FOODS HLDG USFD 0.36 0.51 31.25% Thursday BTO YANDEX NV-A YNDX 0.16 0.12 0.00% Thursday BTO CBIZ INC CBZ 0.01 -0.01 -21.74% Thursday BTO CRA INTL INC CRAI 0.34 0.24 2.50% Thursday BTO INDIVIOR PLC INVVY 0.5 0.35 N/A Thursday BTO LIBERTY GLBL-A LBTYA -2.71 2.45 26.67% Thursday BTO AEGON N V AEG N/A 0.25 N/A Thursday BTO SCHNEIDER ELECT SBGSY N/A N/A N/A Thursday BTO EQT MIDSTRM PTR EQM 1.55 1.31 -4.48% Thursday BTO ACORDA THERAPT ACOR 0.88 -0.07 -234.15% Thursday BTO SYNTEL INC SYNT 0.39 0.57 24.39% Thursday BTO AVON PRODS INC AVP 0.06 0.01 -57.14% Thursday BTO CENOVUS ENERGY CVE 0.1 0.29 125.00% Thursday BTO GENESIS ENERGY GEL 0.39 0.19 69.23% Thursday BTO HUDSON PAC PPTY HPP 0.5 0.46 0.00% Thursday BTO MATERION CORP MTRN 0.38 0.28 31.58% Thursday BTO MFA FINANCIAL MFA 0.2 0.18 -21.05% Thursday BTO ANDEAVOR CORP ANDV 1.18 -0.02 -10.89% Thursday AMC CBS CORP CBS 1.15 1.11 3.74% Thursday AMC FLOWSERVE CORP FLS 0.52 0.72 8.82% Thursday AMC CONSOL EDISON ED 0.78 0.69 -4.55% Thursday AMC DIGITAL RLTY TR DLR 1.52 1.43 1.34% Thursday AMC NMI HOLDINGS-A NMIH 0.17 0.15 42.86% Thursday AMC SLEEP NUMBER CP SNBR 0.2 0.25 -8.82% Thursday AMC CLOUD PEAK EGY CLD 0 0.39 50.00% Thursday AMC SS&C TECHNOLOGS SSNC 0.49 0.44 2.17% Thursday AMC CRAY INC CRAY 0.22 1.31 32.65% Thursday AMC NU SKIN ENTERP NUS 1.17 0.79 0.00% Thursday AMC US ECOLOGY INC ECOL 0.64 0.36 -39.34% Thursday AMC DDR CORP DDR 0.26 0.3 11.11% Thursday AMC ALLSCRIPTS HLTH MDRX 0.13 0.1 0.00% Thursday AMC ARISTA NETWORKS ANET 1.25 0.9 31.73% Thursday AMC CUBESMART CUBE 0.41 0.38 5.00% Thursday AMC HEALTHCARE TRST HTA 0.42 0.42 2.44% Thursday AMC MRC GLOBAL INC MRC 0.03 -0.18 -71.43% Thursday AMC SHAKE SHACK INC SHAK 0.05 0.09 13.33% Thursday AMC WESTERN GAS PTR WES 0.47 0.35 -15.56% Thursday AMC WASHINGTON REIT WRE 0.44 0.43 0.00% Thursday AMC DYNAGAS LNG PTR DLNG 0.18 0.44 -11.76% Thursday AMC MULESOFT INC MULE -0.19 N/A -11.76% Thursday AMC AMN HLTHCR SVCS AMN 0.63 0.62 5.00% Thursday AMC CYTOKINETCS INC CYTK -0.71 0.16 6.25% Thursday AMC PARAMOUNT GROUP PGRE 0.21 0.18 4.76% Thursday AMC BLACKLINE INC BL -0.09 -0.12 0.00% Thursday AMC COHU INC COHU 0.26 0.18 8.33% Thursday AMC COOPER-STANDARD CPS 3.18 2.8 -10.59% Thursday AMC CATCHMARK TB TR CTT -0.11 -0.13 16.67% Thursday AMC GLOBANT SA GLOB 0.26 0.29 -29.03% Thursday AMC PIXELWORKS INC PXLW -0.05 0.01 120.00% Thursday AMC AIRGAIN INC AIRG 0.04 0.12 50.00% Thursday AMC AMBER ROAD INC AMBR -0.1 -0.15 46.67% Thursday AMC CINER RESOURCES CINR 0.55 0.49 -14.81% Thursday AMC PC CONNECTION CNXN 0.53 0.53 0.00% Thursday AMC COLUMBIA PPT TR CXP 0.31 0.37 3.70% Thursday AMC LUNDIN MINING LUNMF N/A 0.12 100.00% Thursday AMC NAVIGATORS GRP NAVG 0.5 0.58 -58.73% Thursday AMC PDF SOLUTIONS PDFS 0.01 0.09 100.00% Thursday AMC SAFETY INC&GROW SAFE 0.16 N/A -126.67% Thursday AMC WESTERN GAS EP WGP 0.44 0.39 18.92% Thursday AMC MARCHEX INC MCHX -0.02 -0.09 33.33% Thursday AMC MAXWELL TECH MXWL -0.15 -0.28 -11.11% Thursday AMC SPX CORP SPXC 0.62 0.69 16.13% Thursday AMC ANDEAVOR LOGIST ANDX 0.81 0.43 34.33% Thursday AMC CHESAPEAKE LODG CHSP 0.5 0.48 -1.54% Thursday AMC SPECTRA EGY PTR SEP 0.84 0.81 71.95% Thursday AMC STAG INDUSTRIAL STAG 0.43 0.42 2.38% Thursday AMC YAMANA GOLD INC AUY 0.03 0.01 100.00% Thursday AMC COGNEX CORP CGNX 0.25 0.22 8.57% Thursday AMC ENBRIDGE EGY PT EEP 0.2 0.14 -4.00% Thursday AMC LOGMEIN INC LOGM 0.92 0.33 8.14% Thursday AMC TRUECAR INC TRUE -0.08 -0.08 -60.00% Thursday AMC IMPINJ INC PI -0.19 0.01 -100.00% Thursday AMC TURKCELL IL-ADR TKC N/A 0.24 N/A Thursday N/A TELSTRA CRP-ADR TLSYY N/A N/A N/A Thursday N/A TRANSCDA CORP TRP 0.63 0.56 0.00% Thursday N/A AIR LIQUIDE-ADR AIQUY N/A N/A N/A Thursday N/A IPSEN SA ADR IPSEY N/A N/A N/A Thursday N/A NESTLE S A REG NSRGY N/A N/A N/A Thursday N/A RELX PLC RELX N/A N/A N/A Thursday N/A TREND MICRO INC TMICY N/A 0.73 N/A Thursday N/A AIRBUS GROUP NV EADSY N/A -0.28 N/A Thursday N/A DEERE & CO DE 1.13 0.61 7.53% Friday BTO V F CORP VFC 1.02 0.97 9.82% Friday BTO COCA COLA CO KO 0.38 0.37 2.04% Friday BTO KRAFT HEINZ CO KHC 0.96 0.91 0.00% Friday BTO SMUCKER JM SJM 2.16 2 6.88% Friday BTO CAMPBELL SOUP CPB 0.81 0.91 -5.15% Friday BTO VULCAN MATLS CO VMC 0.75 0.69 9.47% Friday BTO DTE ENERGY CO DTE 1.2 0.81 -3.27% Friday BTO AMEREN CORP AEE 0.33 0.13 -5.34% Friday BTO IRON MOUNTAIN IRM 0.57 0.5 -1.79% Friday BTO NEWELL BRANDS NWL 0.67 0.8 -6.52% Friday BTO NEXA RESRCS SA NEXA 0.4 -0.68 N/A Friday BTO RYDER SYS R 1.35 1.07 3.10% Friday BTO GRANITE CONSTRU GVA 0.68 0.4 3.64% Friday BTO DANONE-ADR DANOY N/A N/A N/A Friday BTO ITT INC ITT 0.59 0.48 8.20% Friday BTO WABCO HOLDINGS WBC 1.8 1.47 11.76% Friday BTO GASLOG LTD GLOG 0.07 0.02 -50.00% Friday BTO AMER AXLE & MFG AXL 0.77 0.78 34.38% Friday BTO NATL HEALTH INV NHI 1.33 1.27 2.24% Friday BTO PIONEER EGY SVC PES -0.11 -0.34 -7.14% Friday BTO ENBRIDGE INC ENB 0.44 0.42 8.33% Friday BTO EPAM SYSTEMS EPAM 0.82 0.59 12.86% Friday BTO IPG PHOTONICS IPGP 1.74 1.39 17.88% Friday BTO BARNES GRP B 0.68 0.67 -4.35% Friday BTO SELECT INCOME SIR 0.69 0.71 -1.45% Friday BTO MCCLATCHY CO-A MNI 0.72 1.68 -41.82% Friday BTO SEGRO PLC REIT SEGXF N/A N/A N/A Friday BTO PORTLAND GEN EL POR 0.65 0.68 15.79% Friday BTO OCH-ZIFF CAPTL OZM 0.21 0.01 133.33% Friday BTO MONOTYPE IMAGNG TYPE 0.04 0.07 0.00% Friday BTO NORSK HYDRO ADR NHYDY 0.13 0.06 -8.33% Friday N/A RENAULT SA RNLSY N/A N/A N/A Friday N/A 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 Under Armour, Inc. (UAA) : Free Stock Analysis Report Pepsico, Inc. (PEP) : Free Stock Analysis Report Coca-Cola Company (The) (KO) : Free Stock Analysis Report General Electric Company (GE) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || 4 Reasons to Be Hopeful for a Buckeye Partners, L.P. Stock Turnaround: Two facts about Buckeye Partners, L.P. (NYSE: BPL) should interest investors in search of income today: The partnership's units yield an impressive 11%, and that distribution has risen annually for 22 consecutive years. However, the high yield is the result of a unit price that is down 20% so far this year and off around 45% from the highs reached in 2014. There's clearly something going on, but there are four signs that portend a turnaround. Why so down? There are a number of reasons for Buckeye's low unit price. The first is that investors have soured on the midstream energy partnership space, pushing the Alerian MLP ETF down 11% in 2018 and, like Buckeye, 45% lower since the index's highs reached in 2014. Even industry bellwethers like Enterprise Products Partners L.P. (NYSE: EPD) are getting hit hard, with this diversified giant off over 35% since mid-2014. A man welding an oil pipeline in daylight Image source: Getty Images. There's little Buckeye can do about investor sentiment turning against the entire midstream sector. But the partnership, which is focused around a portfolio of global storage assets and domestic pipelines, has been getting hit extra hard lately -- and perhaps for good reason. Its distribution coverage dipped to 0.97 in the third quarter of 2017 and was a tight 1 for the year. Possibly even more troubling for income investors is the fact that Buckeye stopped increasing its distribution on a quarterly basis. That shift, which perhaps not so coincidentally started in the third quarter of 2017, was made to preserve cash for its growth plans. The decision came shortly after the partnership spent more than $1 billion to acquire a 50% stake in VTTI, a globally diversified midstream storage provider. It certainly looks like that deal has stretched Buckeye's finances. And despite Buckeye's coverage already being tight, it is continuing to push forward with plans to spend more money, including on a 600-mile pipeline in Texas. But that's just one project. It also has plans for additional pipelines and upgrades at its storage assets over the next couple of years. So Buckeye expects to spend as much as $325 million in 2018, with more likely to come, right when the company's distribution coverage is tight after a major acquisition. No wonder investors have been extra negative on Buckeye's units. Story continues A trip down memory lane Some context is important here. The first reason to be positive is that Buckeye has been down this road before. It allowed distribution coverage to fall below 1 in 2013 and 2014 while it invested for the future. Its coverage ratio was 1 or better in each of the next three years as the investments it made bore fruit. So relatively weak distribution coverage shouldn't come as a surprise as Buckeye embarks on another round of intense capital spending, underpinned by the VTTI acquisition. Four bar charts showing Buckeye's distribution coverage falling below 1 for two years, consistently growing adjusted EBITDA, consistently growing distributions, and modest leverage levels. Buckeye's coverage has been weak before during investment cycles. Image source: Buckeye Partners, L.P. A second reason for optimism is the fact that the partnership's decision to stop quarterly increases isn't out of line with the broader industry. Enterprise announced plans to lower its distribution growth rate so it could self-fund more of its investments . Buckeye is, effectively, doing a similar thing. That said, the coverage shortfall in the third quarter was partly because of units issued to fund the VTTI deal, which didn't start contributing to cash flow in a meaningful way until the fourth quarter -- when coverage improved to 1.01 times. A third positive is that Buckeye has gotten creative, issuing a new class of units to institutional investors. The units have a payment in kind feature, that allows Buckeye to issue units instead of cash to cover distributions on the units. Management believes this decision will remove the need to issue equity in 2018 and 2019. As such, it has already funded a notable portion of its current growth plans. So, despite the partnership's high yield, the company won't have to resort to issuing large amounts of debt to cover its capital budget. That gives it two years to start to see results from the VTTI deal and its other spending plans. BPL Financial Debt to EBITDA (TTM) Chart BPL Financial Debt to EBITDA (TTM) data by YCharts . The fourth and last reason to have an upbeat view here is Buckeye's financial strength. It's kept its investment-grade credit rating. To give a relative view here, Buckeye's debt-to- EBITDA ratio is roughly the same as Enterprise's right now. The former isn't an overleveraged company just trying to hold on -- it shouldn't have material issues accessing the debt markets. And with the equity portion of the costs already covered, Buckeye appears to have the financial leeway to invest and support its distribution. Things could change, but... There's no way to predict the future, but if Buckeye's past is any guide, there's good reason to be hopeful. Although it's probably not a good option for conservative investors , the financially strong partnership's weak distribution coverage will likely be a fleeting issue as VTTI and the other investments it's making start to produce cash flow. As for the distribution streak, well, there's more than a year before another hike is needed to maintain that record, which is plenty of time for the business to start generating more compelling results. For investors willing to deal with a little near-term uncertainty, Buckeye's high yield should look enticing. 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 Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy . || If $1 Million Is the Magic Retirement Number, Most Older Americans Are Nowhere Close: For years, financial experts have been tossing around the $1 million figure as an ideal retirement savings target. Whether that's a legitimate assessment or not is still up for debate, butI've personally made the case, with numbers to back myself up, that $1 million is a good number to aim for.
So let's assume that the countless financial people who talk up that $1 million figure are right. If that's the case, then today's older workers are facing a major retirement crisis, particularly since they're nowhere close to having $1 million in their nest eggs.
In fact, workers between 55 and 64 with retirement savings have a median of $120,000 set aside for the future. Those aged 65 to 74, meanwhile, have a median of $126,000. Both groups, collectively, have roughly 12% of the $1 million we're all supposed to be aiming for, and that's clearly not good.
IMAGE SOURCE: GETTY IMAGES.
Now let's step back and assume that that $1 million is way off. Maybe we don't need nearly that much. Maybe $500,000 will suffice. Be that as it may, what I'll call a median savings balance of $123,000 among older Americans isn't nearly enough to retire on. And the sooner more people realize that, the better their chances of salvaging their golden years.
The extent to which you spend money in retirement will depend heavily on your desired lifestyle and health. That said, the typical retiree today spends about $46,000 a year, or so reports the Bureau of Labor Statistics. Multiply that by 22 years, and you're looking at over $1 million. Of course, some of that money can come from Social Security, but since theaverage recipient todaygets around $1,400 per month, or just under $17,000 in benefits per year, the need for strong savings is pretty clear.
Now let's revisit that $123,000 median savings among older Americans. If we apply a 4% annual withdrawal rate, which haslong been the standard, we arrive at a yearly income of $4,920. Combine that with the average yearly Social Security benefit at present, and we get just under $22,000 -- less than half of what the typical senior spends annually right now.
You see? Older workers are in pretty bad shape.
But, there's some good news, particularly for those who still have some time ahead in the workforce. Folks who make an effort to ramp up their savings immediately have a shot at financial security down the line. Those who don't, however, risk joining the ranks of the 25 million seniors who are straddling or living well below the poverty line today.
If you're still plugging away at a job, you have a real opportunity to make up for lost time. Currently, 401(k)s max out at $24,500 a year for workers 50 and over. Hit that limit for 10 years, and you'll add around $338,000 to your nest egg, assuming your investments generate an average annual 7% return during that period.
Don't have access to a 401(k)? You can still save in an IRA to the tune of up to $6,500 per year. Do so for 10 years, and you'll be sitting on an additional $90,000, assuming that same 7% average annual return.
Now if you're already in your late 60s or early 70s, there's a good chance you don't have many full-time working years to look toward. But that doesn't mean you can't work part-time to generate some income. If you're able to earn $100 a week, it'll go a long way toward covering your senior living expenses.
Another option, if it applies to you, is to hold off on filing for Social Security until you turn 70. For each year you delay benefits pastfull retirement age, which is 66, 67, or somewhere in between depending on your year of birth, you'll boost your payments by 8%. So let's take today's $1,400 average monthly benefit and assume that's what you'll be looking at come full retirement age. If you wait three years to claim Social Security and boost that figure by 24%, you'll come away with over $1,700 a month instead. That'll help pay the bills, too.
While you might manage to get by on well less than $1 million in retirement, most older Americans simply haven't saved enough to live comfortably once they stop working. If you're one of them, it's time to focus on socking away more cash and maximizing your Social Security payments. Otherwise, you'll risk struggling financially at the worst possible time.
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The Motley Fool has adisclosure policy. || Arizona Senate Votes to Accept Tax Payments in Bitcoin: The Arizona Senate on Thursdaypassed a billthat would allow residents to pay their income taxes using Bitcoin or other cryptocurrencies "recognized" by the state's revenue authorities. The law will next be considered by the state's House of Representatives.
Accepting payment of income taxes in cryptocurrency has profound symbolic and practical significance. Historically, the use of government-issued currencies for the payment of income tax has helped guarantee those currency's widespread adoption as a payments medium. Skeptics of systems like Bitcoin, which allow quick global payments but are not issued or backed by governments, have argued in part that their separation from government revenue structures reduces their inherent usefulness and, in turn, value.
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The Arizona move, then, is a positive signal for Bitcoin. But Arizona State Representative Jeff Weninger, who has sponsored similar bills, says the primary goal is to foster technological innovation in the state. The bill, Weningertold Fox News, is "sending a signal to everyone in the United States and possibly throughout the world that Arizona is going to be the place to be for blockchain and digital currency technology in the future."
That may sound like a longshot, given the concentration of tech innovation in places like San Francisco and New York. But blockchain tech in particular has been met with widely divergent regulatory approaches that could reshape that landscape. For instance, New York's controversial 'BitLicense' law is widely seen asrestrictiveto blockchain innovation and may be pushing startups out of the state.
The Arizona Senate bill includes a provision mandating that cryptocurrency payments be converted to U.S. dollars within 24 hours of their payment. That could help address concerns about thevolatilityof cryptocurrency values and its potential impact on state revenues.
See original article on Fortune.com
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Welcome to the weekend! It's the perfect time to catch up on everything fromMobile World Congressalong with Friday's big news stories. An AWS outage knocked out Alexa (and Engadget) while we took Samsung's Galaxy S9+ out for some "late night photography testing."
Fight!Google vs. Amazon = no more Nest on Amazon
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And Engadget too.Amazon server outage pulled the plug on Alexa for a few hours
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We had to be thorough.Testing the Galaxy S9+ on a night out in Barcelona
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This time the fight comes to the US.'Far Cry 5' is deeper than you think
The latestFar Crywill put you in the shoes of a rookie cop sent to arrest Joseph Seed, the head of a dangerous cult called The Project at Eden's Gate. You end up becoming part of a resistance movement, whose goal is to take down the cult by going after Seed and the rest of his family. Of course, you could just play it like any other game in the series, but it's hard to ignore the subtext.
Still the best.Dell XPS 13 review
Dell's latest XPS 13 doesn't stray from the line's high standards. This time around it's packing all USB-C ports, support for external GPUs and an optional HDR display. Sure, the company didn't change much, but it didn't really have to.
How many messaging apps can one company make?Google's Slack alternative is available
As of now, Hangouts Chat is out of Google's early adopter program and will be available to all G Suite users over the next week, assuming their company enables it, of course. On one hand, it's easy to roll our eyes at yet another attempt at Chat. But Google has been saying ever since it launched the consumer-focused Allo messaging app that Hangouts was destined for businesses. To differentiate itself from Slack and the others, Hangouts Chat adds bots and some artificial-intelligence magic.
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Have a suggestion on how we can improve The Morning After?Send us a note. || Hormel Stock Split History: When Will the Dividend Aristocrat Split Again?: From a business standpoint,Hormel Foods(NYSE: HRL)is a pretty typical company, with an emphasis on meat processing and food products that has made it ahousehold name for millions of Americans. For investors, the impressive combination of regular dividend increases and frequent stock splits puts its shares into elite ranks. Ambitious investors want to know when Hormel's stock price is likely to get back to levels that could prompt another decision to split its stock. Let's look more closely at Hormel to see what's coming next for the company and whether another split could be just around the corner.
Here are the dates and split ratios for the stock splits that Hormel has done in the past:
[{"Date of Split": "Jan. 29, 1960", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "200 shares"}, {"Date of Split": "Feb. 2, 1968", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "400 shares"}, {"Date of Split": "Nov. 22, 1971", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "800 shares"}, {"Date of Split": "Jan. 30, 1980", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "1,600 shares"}, {"Date of Split": "Aug. 19, 1985", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "3,200 shares"}, {"Date of Split": "April 4, 1987", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "6,400 shares"}, {"Date of Split": "Jan. 31, 1990", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "12,800 shares"}, {"Date of Split": "Jan. 26, 2000", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "25,600 shares"}, {"Date of Split": "Feb. 1, 2011", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "51,200 shares"}, {"Date of Split": "Jan. 26, 2016", "Split Ratio": "2 for 1", "100 Shares in 1959 Would Now Be": "102,400 shares"}]
Data source: Hormel investor relations.
As you can see, Hormel has been splitting its stock for a long time. It's always been a believer in two-for-one splits, never being content to go with more modest ratios that some companies have used in order to prompt more frequent split decisions. Splits have tended to come at roughly five- to 10-year intervals.
Hormel hasn't always used the traditional approach in choosing when to split its shares. In 1987, Hormel shares were at about $50 per share before splitting, but shortly before the 1990 move, the company had only seen its stock climb into the $30s. Similarly, back in 2000, Hormel was priced below $50 per share when it did a two-for-one split, and subsequent price declines sent shares into the teens shortly thereafter.
Over the ensuing decade, Hormel waited a bit longer before splitting. But in 2011, the stock price was only in the $50s when the company decided to do a stock split, pushing the post-split price down into the $25 to $30 per share range.
Only by 2016 did the company use a more typical benchmark for doing a stock split. The company waited until its stock had climbed all the way toward $90 per share before splitting its shares, sending the price back into the $40s.
Image source: Hormel.
One big reason why Hormel doesn't follow a typical approach for stock splits is that it puts a high priority on dividends. The company is amember of the elite Dividend Aristocrats, with 52 years of consecutive annual dividend increases. At 2.25%, its dividend yield isn't stellar, but regular payouts have taken some of what would otherwise have gotten incorporated into share-price appreciation and instead paid it directly to its shareholders.
Hormel is also generous with its dividend increases. The most recent one early this year boosted the payout by more than 10% to $0.1875 per share on a quarterly basis, and sizable dividend growth has been a regular feature for the food company. Without the downward pressure on the stock that dividend payments make, Hormel would likely have been in position to do stock splits a lot more often.
For most companies, it would be almost inconceivable that a split could happen for a stock whose price was in the mid-$30s. For Hormel, however, unusual stock split behavior is the norm. Yet with the company having just done a split two years ago, it's more likely that Hormel will wait at least a little longer rather than pulling the trigger on a stock split in 2018.
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• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
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. || 2 Top Chinese Internet Stocks You Should Look At: Internet penetration in China has grown steadily. Five years ago only 46% of the Chinese population had internet access, a number that's expected to jump to 56% this year. This growth rate might seem slow at first, but China's huge population means that even a small percentage jump translates into millions of additional users.
During the first half of 2017, China's internet population increased by 20 million, or 1.3%, as compared to the end of 2016. So, the steady growth in internet penetration in the coming years means that millions more people will be getting online each year in China.
This is great news forNetEase(NASDAQ: NTES)andBaidu(NASDAQ: BIDU)-- two companies targeting different corners of China's internet space.
Image source: Getty Images.
China's rapid internet growth means that more people are now using smartphones. In fact, 95% of China's internet population uses a mobile device to get online. Not surprisingly, the country is now crazy about mobile gaming, and users are spending a lot on in-game purchases.
According to App Annie, mobile gaming in China has grown from a $3 billion industry in 2015 to $11 billion last year. NetEase has used this trend to its advantage, clocking terrific revenue and earnings growth over the past few years, as shown below:
NTES Revenue (TTM)data byYCharts.
The Chinese mobile gaming market should keep getting better since both smartphone and internet penetration in the country have a lot of room for growth. Newzoo estimates that China's smartphone penetration is currently just under 52%, so as more users get smartphones and go online, demand for mobile gaming will increase.
Asian market research company Niko Partners estimates that China's mobile gaming revenue will hit $23.5 billion by 2021. NetEase is in a strong position to tap into this growth -- with an impressive portfolio of mobile gaming titles --despite a slipin the recently reported quarter. The company's newly released games arevery popular, and it is on track to monetize them.
NetEase is in partnership withMicrosoftandActivision Blizzardto operate highly popular franchises such asMinecraftandWorld of Warcraftin the Chinese market. And the company is nowmoving into international markets.
Mobile gaming supplies 68% of NetEase's total revenue, and it won't be surprising if the company pulls in more revenue from this space thanks to the end-market growth and its solid position there.
What's more, investors can get into NetEase on the cheap. The stock trades at just 20 times forward earnings, significantly lower than the 55 industry average, making it an attractive bet on China's mobile gaming growth.
Baidu missed the mobile revolution in China despite being the country's leading search engine provider, but it has a new way to tap China's growing internet penetration. The company hasused its search leadershipto get to
Baidu has been aggressively investing in AI in several areas, such as self-driving cars,cloud computing, andsmart homes. Its moves in these markets are beginning to bear fruit -- revenue in fiscal 2017 increased 20% year over year. Looking ahead, Baidu can sustain its impressive growth thanks to the integration of AI in fast-growing areas such as the cloud.
The company released a hybrid cloud platform last September to help enterprise customers integrate and deploy more than 60 types of AI capabilities in their operations. Using Baidu's platform, customers can perform tasks such as image, facial and speech recognition; and video content analysis.
Baidu's customers are already using this new platform to improve their businesses, allowing Baidu to consolidate a share of the fast-growing cloud computing market in China, which is expected to be worth $103 billion by 2020.
The company is also seeking to tap into China's growing hunger for video content. Its content investments in its online video platform -- iQiyi -- increased 70% in fiscal 2017 to $2.1 billion as it tries for a bigger share of this booming market. Baidu is currently in a fight withTencentfor leadership in this space, so it has decided to file for an initial public offering to float iQiyi in the U.S.
It's being reported that Baidu plans to raise around $1 billion with this offering, which should allow it to bolster its position in China's online video streaming market, which is projected to be worth almost $18 billion by 2020.
Investors looking to take advantage of China's rapid internet growth should definitely consider Baidu, especially given its attractive valuation. The stock has a trailing price-to-earnings (P/E) ratio of 31, significantly lower than the industry average of 55.
NetEase and Baidu will be the beneficiaries of growing internet penetration in China. NetEase can target more mobile gaming users, while Baidu will benefit from an increase in demand for video content and cloud computing. With both stocks trading at reasonable levels, that makes them top picks among Chinese internet stocks.
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• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Harsh Chauhanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Activision Blizzard, Baidu, NetEase, and Tencent Holdings. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Weiss: The Bitcoin Rating Controversy: Why We Give It a C+
https://weisscryptocurrencyratings.com/currencies/btc/the-bitcoin-rating-controversy-why-weiss-ratings-gives-it-a-c-170 … || The head of the Central Banks ‘Central Bank’ BIS suggests authorities must clampdown on bitcoin. #deaththroes #bitcoin #crypto The central banks SHOULD be scared of bitcoin as it completely debases the broken system they uphold. http://ft.com/content/78bf5612-0b1a-11e8-839d-41ca06376bf2 … || Güncelleme: 6:22 - 6-2-2018
#USD ALIŞ - 3.7894
#USD SATIŞ - 3.7901
#EUR ALIŞ - 4.6908
#EUR SATIŞ - 4.6949
#BTC - #TRY 24014
#BIST100 - 116852.68
#ALTIN ALIŞ - 1344.2
#ALTIN SATIŞ - 1344.65
#GBP ALIŞ - 5.2923
#GBP SATIŞ - 5.2946 || Op Ed Heres What Paul Krugman Got Wrong in His Bitcoin Tweetstorm - http://www.binancepumpdump.com/#news #crypto #cryptocurrency #cryptonews #Bitcoin #Ripple #Ethereum #Binance #ETH #TRX #XRP #XLM #WTC #VEN #IOST #BNB #BTC #XTB || 02/11 16:00現在(Zaif調べ)
#Bitcoin : 890,615円↓0.56%
#NEM #XEM : 60円↑0%
#Monacoin : 427円↓2.95%
#Ethereum : 88,670円↓2.22%
#Zaif : 1円↑0% || Korea price
Time: 03/29 00:39:40
BTC: 8,671,333 KRW
ETH: 492,500 KRW
XRP: 625 KRW
#Bitcoin #Ethereum #Ripple || #BTC El precio del #Bitcoin es de $7918.00 http://ift.tt/2n2uQJR || Lol siempre dije que esas mamadas eran una estafa. Tal vez una estafa disfrazada para que la gente comprara partes de maquinas chidas que ya no se vendian porqur se estaban haciwndo nicho y que ademas con esto de la bitcoin subieron de precio las piezas || Twitter CEO #JackDorsey supports Bitcoin as a pathway to financial growth
http://pri.ml/r75Gxz0t via usethebitcoinpic.twitter.com/uTOMl5yTBW || Bitcoin - BTC
Price: $6,759.74
Change in 1h: +0.17%
Market cap: $114,586,887,642.00
Ranking: 1
#Bitcoin #BTC
|
Trend: up || Prices: 6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-04-26]
BTC Price: 38117.46, BTC RSI: 36.49
Gold Price: 1901.40, Gold RSI: 41.33
Oil Price: 101.70, Oil RSI: 49.16
[Random Sample of News (last 60 days)]
Elizabeth Warren’s anti-crypto crusade splits the left: Democratic lawmakers are entering a crypto collision course. Questions around how to police digital currency and whether to support its adoption are driving a rift not just between the party's liberal and centrist wings but also among progressives who often see eye-to-eye on financial regulation. Sen. Elizabeth Warren of Massachusetts — who has long led the left's charge to crack down on banks and Wall Street — has emerged as one of the party's most vocal cryptocurrency critics, warning that it exposes consumers to danger, is ripe for financial crimes and is an environmental threat because of its electricity usage. But a new generation of progressives — and a number of other senior Democrats — are embracing the startup industry. They're arguing against regulations that could stifle what proponents say is a new avenue for financial inclusion and a breakthrough alternative to traditional banks. “The project of radically decentralizing the internet and finance strikes me as a profoundly progressive cause,” Rep. Ritchie Torres (D-N.Y.) said in an interview. “You should never define any technology by its worst uses. ... There's more to crypto than ransomware, just like there's more to money than money laundering.” The simmering conflict is set to intensify in the coming months. President Joe Biden last week asked federal agencies to start solidifying the federal government's approach to crypto, framing the step as supportive of innovation rather than an industry crackdown. The price of Bitcoin surged on the news. Separately, Democratic lawmakers have started to draft a host of crypto regulation bills that are also exposing a wide range of views on the government's role in the $1.7 trillion market for digital assets. The lack of consensus among Democrats means it's unlikely Congress will act anytime soon to pass major legislation laying out the direction of regulation of the new market. Some Democrats and lobbyists had expected initial votes early this year, but that timeline has slipped. Story continues Crypto watchers got a preview of the split last year, when Democrats including Senate Finance Chair Ron Wyden of Oregon fought to scale back a tax provision in what became Biden's bipartisan infrastructure law that imposed new reporting requirements on virtual currency trading. “It's fair to say there's different perspectives on how to handle the space overall,” said Rep. Josh Gottheime r (D-N.J.), who has authored industry-supported legislation that would establish rules for cryptocurrency known as stablecoins , whose value is tied to an underlying asset like the dollar. The emerging enthusiasm for crypto among many Democrats is in stark contrast to the views of senior progressive lawmakers such as Warren, Senate Banking Chair Sherrod Brown (D-Ohio) and Rep. Brad Sherman (D-Calif.), who have been ratcheting up criticisms about risks to consumers and the financial system. Warren, who has been looking at developing a comprehensive crypto bill, has recently warned that Russian leaders and billionaires may use digital currency to evade sanctions imposed after the invasion of Ukraine. The industry counters that the risk is being overhyped. Treasury officials also say there’s been little evidence of Russians using the relatively small crypto market to sidestep sanctions. Warren led a letter to Treasury on the issue earlier this month and was joined by Brown, Sen. Mark Warner (D-Va.) and Sen. Jack Reed (D-R.I.). It's Warren's latest attempt to highlight what she and other opponents see as a lack of regulation in the market. “The banks have not served the American public well,” Warren told reporters when asked if she sees any societal benefits to crypto. “There's a reason that crypto takes hold in some areas because the banks have continued to impose fees on transactions at a time when the cost of transactions should be dropping fast. However, substituting an unregulated, unverified system in which scammers and cheats and terrorists mix in with ordinary consumers and no one can tell who's on the other side of a transaction is not a safe substitute.” The clash can be explained in part by cryptocurrency's growing influence in Washington and in members' districts. The industry is amassing an army of lobbyists and recruiting former Democratic lawmakers and regulators to advance its cause. It comes as crypto startups have set up shop across the country, with state and local leaders seeking to become the home for the businesses and the jobs. Rep. Jim Himes (D-Conn.) said the crypto industry has become big enough that “some of us are taking a parochial notice of these businesses.” He cited the decision by Digital Currency Group — a so-called crypto conglomerate — to move its headquarters to his state. “I'm not alone,” he said. “There's all kinds of well-funded cryptocurrency businesses popping up all over the country. ... People are taking a parochial interest because while all of us sense we won't know exactly what it will look like, there's going to be jobs associated with this technology.” Torres, a freshman member of the Congressional Progressive Caucus, said New York City — which he represents — should embrace crypto if it wants to remain the financial capital of the world. Among local leaders, Mayor Eric Adams is one of the country's most outspoken crypto backers — going as far as converting his salary into Bitcoin and Ether. Torres said crypto and the underlying blockchain technology “have the potential to lead to a better and cheaper and faster payments system” that could, for example, help a Dominican immigrant in his South Bronx district send remittances with minimal fees and delays. He said regulation should be “surgical” and that significant moves by federal agencies without direction from Congress would be a “power grab.” There's a “kind of anti-crypto xenophobia” among some regulators and lawmakers, he said. “The future of finance and the internet should not be left to a gerontocracy of regulators who appear to be on a personal crusade against crypto,” Torres said. “Congress, which has a new generation of legislators, should have the final word.” A number of Democrats are focused on the possible opportunities crypto may have in reaching Americans — particularly people of color — who have traditionally been overlooked by the banking system. A survey commissioned late last year by venture capital giant Andreessen Horowitz — a major investor in crypto startups — found that 30 percent of Black Americans and 27 percent of Hispanic Americans said they owned cryptocurrency, compared to 20 percent of Americans overall. “We are already seeing some of the hopeful, optimistic possibilities in cryptocurrency,” Sen. Cory Booker (D-N.J.) said at a hearing last month, calling it a “democratizing” force that offers “a lot of hope.” Morgan Harper, a former senior adviser at the Consumer Financial Protection Bureau, an agency devised and launched by Warren, has touted crypto's potential economic benefits for Ohio residents as she runs for the Democratic nomination in the state's U.S. Senate race. She has argued that a decentralized financial system like the one powering crypto could be better for consumers than a system dominated by intermediaries like banks. “We have some people in Washington who are already elected who have their views,” she said in an interview. “But there are a lot of other people like me who are in learning mode.” Sam Sutton contributed to this report. || First Mover Asia: Bitcoin 'Minnows' Are Punching Above Their Weight Class; BTC Holds Around $41,500, APE Surges on Rumors: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Good morning. Here’s what’s happening: Prices: Bitcoin was higher for a third straight day, changing hands around $41,500. But the headiest (and most ridiculous) crypto-markets action was in ApeCoin. Insights: Bitcoin "minnows" might be small, but don't doubt their resolve. Technician's take: There has been a loss of downside momentum on bitcoin's daily chart, which could keep short-term buyers active. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices Bitcoin ( BTC ): $41,542 +0.5% Ether ( ETH ): $3,092 -0.2% Top Gainers Asset Ticker Returns Sector EOS EOS +5.1% Smart Contract Platform Polkadot DOT +1.8% Smart Contract Platform Polygon MATIC +1.1% Smart Contract Platform Top Losers Asset Ticker Returns Sector XRP XRP −2.1% Currency Filecoin FIL −2.0% Computing Internet Computer ICP −2.0% Computing Bitcoin holds $41,500 in mixed trading day for crypto, stocks Indecisiveness ruled markets Wednesday as bitcoin flipped between gains and losses on the day and U.S. stocks ended the session mixed. One thing that was clear: ApeCoin ( APE ) was pumping, though even that move was panned as ridiculous, entirely speculative and based on unconfirmed tweets . Bitcoin was holding near the $41,500 price level after a three-day price increase of nearly $3,000. Analysts said the largest cryptocurrency by market capitalization was benefiting from optimism that a spot bitcoin exchange-traded fund might win approval from the U.S. Securities and Exchange Commission . “I don't think there's any one major catalyst for price movement up or down right now,” Jason Deane, bitcoin market analyst at Quantum Economics, told CoinDesk's Angelique Chen. In traditional markets , the Standard & Poor's 500 Index of large U.S. stocks ended the day slightly down, while the Nasdaq Composite Index fell 1.2%; Netflix (NFLX) stock tumbled more than 30%. The U.S. 10-year Treasury bond yield slid 0.07 percentage point to 2.84%. Story continues In other crypto news, the giant crypto exchange Binance unveiled its new Twitter emoji Wednesday , and soon took it down after users pointed out its resemblance to a swastika. Markets S&P 500: -0.1% DJIA: +0.7% Nasdaq: -1.2% Gold: $1,958 +0.1% Insights Research: Bitcoin Minnows Are Fierce Fish After January’s price correction, which seemed dramatic by many standards but par for the course for crypto traders, bitcoin "minnows" (which we are calling those who hold 0.1-10 BTC) began accumulating crypto at record speed . (Glassnode) All the while, the number of wallets with a bitcoin balance of 100-1,000 declined, suggesting a sell-off by larger holders. According to a new report from Glassnode , these "minnows" also have a fierce appetite for pain and are hodling their crypto through some intense volatility and price compression even though their coins have yet to experience a breakout. For its part, Glassnode is defining long-term holders as those who bought before bitcoin’s all-time high in October 2021, while anyone who bought after that date is considered a short-term holder. Those who bought after the all-time high – regardless of portfolio size – didn’t like the ride. Glassnode points to a massive sell-off by those who bought at the top (short-term holders) at around $50K-$60K. “What we can see is that the recent correction pushed a historically significant volume of LTH coins into an unrealized loss. This means that the amount of buying between August and November, which has now become underwater HODLing, is some of the most significant of all time,” Glassnode wrote. Glassnode notes that investors who bought the top, those active between August 2021 and January 2022, have seen prices plunge beneath their cost basis and have dumped bitcoin, causing a “large-scale redistribution of the bitcoin supply to new hands.” And these new hands aren’t necessarily long-term holders picking up additional supply. At the same time, Glassnode observes that those who purchased bitcoin in the last week of January – the minnows – are still hodling. “Much of the volume profile from [Jan. 22] remains intact. Despite an additional 2.5 months of sideways consolidation, a large proportion of the market appears unwilling to spend and sell their coins, even if their coins are held at a loss,” Glassnode wrote. (Glassnode) A big part of the bitcoin ethos is testing your faith, or conviction, in the asset class. Crypto has sustained immense periods of volatility, bear markets and a bull market as well, yet there still are investors willing to dive in. “This correction has been historically significant, suggesting the confidence and conviction of bitcoin investors has been thoroughly tested,” Glassnode wrote. “What we have seen over the last [five] months is a 50%+ correction that appears to have significantly reshuffled the ownership structure of BTC. A great many long-term holders with coins above $50K appear completely unfazed, whilst others have been totally shaken out, at a historically significant rate.” Some whales may have been shaken out but the minnows keep on swimming. Technician's take Bitcoin Holding Support With Higher Price Lows; Resistance at $46K Bitcoin daily chart (TradingView) Bitcoin ( BTC ) has maintained support above $37,500 over the past month, indicating a loss of downside momentum. On intraday charts, however, BTC appears to be overbought , which could briefly stall the current upswing in price. A series of higher price lows since Jan. 24 suggests continued buying interest around the $32,000-$37,500 support zone, which is the bottom of a year-long price range. The next major resistance level is seen at $46,700, which has capped price rallies over the past few months. Typically, price rises begin to stall after retracing roughly 38% to 50% of the prevailing downtrend, similar to what occurred in September of last year. Still, the significant slowdown in BTC's long-term uptrend suggests upside could be limited over the next few months. Important events 7:30 a.m. HKT/SGT(11:30 p.m. UTC): Japan National Consumer Price index (YoY/March) 5 p.m. HKT/SGT(9 a.m. UTC): Euro Area Harmonised Index of Consumer Prices (MoM/March) 8 p.m. HKT/SGT(12 p.m. UTC): International Monetary Fund continues Spring meetings. CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : What’s Driving UST and LUNA’s Rise? Bitcoin Volatility Hits 17-Month Low Headlines It's Bananas, but Unconfirmed Metaverse Rumors Are Pumping ApeCoin : The latest price pump in almost-anything-goes crypto markets shows just how quick and easy it can be to touch off a fresh flurry of speculation. Binance.US Quits Blockchain Association, Forms In-House Lobbying Shop : A person close to the company says the groups’ goals “were not fully aligned.” US Sanctions Russian Crypto Mining Host Bitriver : Bitriver and 10 subsidiaries were added to the OFAC list Wednesday in connection with their ties to the Russian economy. Longer reads Elon Musk Shouldn't Lead Twitter : Crypto, the source of so many of Twitter’s problems, also provides a blueprint in advocating for permissionless protocols. Today's crypto explainer: How Can Satoshi Nakamoto Have a Birthday? The Significance of April 5 Other voices: What is ‘Web 3’? Here’s the vision for the future of the internet from the man who coined the phrase (CNBC) || First Mover Americas: New Bitcoin Use Case Is Buying Fuel Down Under: 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 trades flat, dollar index rises as Fed fears linger. Australia's fuel and convenience store On The Run (OTR) to accept bitcoin as payment.
• Chartist Corner:The dollar index eyes breakout.
And check out theCoinDesk TVshow “First Mover,” hosted by Christine Lee, Emily Parker and Lawrence Lewitinn at 9:00 a.m. U.S. Eastern time.
• Mati Greenspan, founder and CEO, Quantum Economics.
• John Michael Montgomery, senator for U.S. state of Oklahoma, Republican.
By Omkar Godbole
Major cryptocurrencies traded flat while the Neutrino dollar or USDN, an algorithmicstablecoinof the Waves ecosystem, lost its U.S. dollar peg.
Bitcoin was comatose near $46,200 after last week's disappointing price action that saw buyers fail to chew through the 200-day moving average resistance above $48,000.
Early Monday, Adelaide, Australia-based newspaperThe Advertiser saidOn The Run (OTR), operators of 170 BP service stations across South Australia, will begin accepting bitcoin as payment from July. The announcement makes OTR the largest bricks-and-mortar retailer in Australia to accept cryptocurrency and is part of a deal with Singapore-basedCrypto.com.
The move will allow customers to pay for fuel in bitcoin! Yes you read it right. The newfound use case in one of the developed economies validates the idea of the crypto market leader eventually taking a more significant role in the global economy, perhaps replacing the dollar in the prevalent petro-dollar setup, where U.S. dollars are paid to oil-exporting countries.
"This adds more weight to the idea of bitcoin becoming a Petro-asset after Putin recently allowed ‘friendly’ countries to pay for oil in bitcoin," Marcus Sotiriou, analyst at the U.K.-based digital asset broker GlobalBlock, said in an email.
Ether (ETH), the native token of Ethereum's blockchain, took a breather after a three-week winning streak, the longest since October 2021. Over the weekend, the options market saw aflurry of activityin the ether $10,000 call option expiring in December.
Arthur Hayes, the founder of crypto spot and derivatives exchange BitMEX, recently joined the bandwagon of observers taking abullish outlook on ether. "When the dust settles at year-end, I believe ETH will be trading north of $10,000," Hayes said in a blog post called "Five Ducking Digits"published Friday. The post-merge cryptocurrency will have the characteristics of a commodity-linked bond and will have an intrinsic yield, he said.
Early Monday, the exploiter behind Ronin’sunprecedented $625 million bridge attackfrom last weekmoved some 1,400 etherto privacy tool Tornado Cash.
The joke cryptocurrency dogecoin (DOGE) jumped 10%. The move higher came after a regulatory filingrevealedthat Tesla's CEO Elon Muskhas a 9.2% stakein social media company Twitter, Inc. (TWTR).
In traditional markets, the dollar index, which tracks the greenback's value against major fiat currencies, rose for the third straight day as hawkish Federal Reserve (Fed) expectations, elevated crude prices and recession fears kept the world's reserve currency in demand.
Fed fears linger
On Saturday, the Federal Reserve Bank of New York President John Williamssaidthe process of reducing the balance sheet could begin at the next meeting, scheduled for May 3-4. The Fed holds around $9 trillion of Treasury bonds and mortgage-backed securities.
The long road to the Fed's balance sheet normalization could be rough for risk assets, including bitcoin and ether. The central bank raised borrowing costs by 25 basis points last month and signaled a continued fight against inflation.
"As the Fed continues on its path to raise nominal rates and the 2s / 10s curve inverts — pointing to a future U.S. recession — equities are going to get crushed. And by crushed, I mean down 30% to 50%, until something breaks in the credit markets and the Fed turns back on the money printer," BitMEX's Hayes said in a blog post called "Five Ducking Digits"published Friday.
"If I believe this with every fibre of my being, then I must also believe ETH can trade down in USD terms by 30% to 50%. Until either the broad risk asset market crashes, or ETH’s short-term correlation begins to fall vs. the Nasdaq100 or S&P 500, I will not sell fiat and buy ETH," Hayes added.
• Dogecoin Spikes 10% as Musk Takes Almost $3B Stake in Twitter
• Coinbase to Hire 1,000 People in India Expansion
• Post-Merge Ether Will Be a Commodity-Linked Bond, Could Rally to $10K, BitMEX Founder Says
• Some 1,400 Ether From Ronin Exploit Is Moved to Tornado Cash
• Europe's CBDC Designers Wrestle With Privacy Issues
• First Mover Asia: DBS Bank's Ditching Retail Crypto Delivers a Small Blow to OSL, Less so to Singapore's Crypto Industry; Cryptos Rise Late Sunday
• Pudgy Penguins NFT Collection Looks to Next Chapter With $2.5M Sale
• DeFi Lender Inverse Finance Exploited for $15.6 Million
• Tezos Deploys Major ‘Tenderbake’ Upgrade
• Now That Q1 Is Over, Is the Bull Market Back?
By Omkar Godbole
The dollar index or DXY has carved a bull flag on the daily chart. A potential breakout would imply a resumption of the rally from May 2021 lows near 90.
A sustained move higher in the dollar may put downward pressure on assets priced in the greenback.
According to Kevin Kelly, co-founder and global head of macro strategy at Delphi Digital, the greenback and bitcoin have a pretty inverse correlation.
"2017 was one of the worst years for the dollar, and that coincided with a huge run in bitcoin,"Kelly saidin an analyst call in March. "We saw bitcoin run up in early 2021. That was on the back of the dollar weakness."
Today’s newsletter was edited by Omkar Godbole and produced by Bradley Keoun and Stephen Alpher. || NZD/USD: Testing Important Fibonacci Support at .6722: The New Zealand Dollar is down sharply on Monday as investors took advantage of thin trading conditions due to an extended Easter bank holiday. But the biggest influence on the currency was the stronger U.S. Dollar. In other news, traders showed little response to mixed-to-positive economic news out of China. Traders are also expressing some concern over the extended COVID-related lockdown in China. At 08:27 GMT, the NZD/USD is trading .6735, down 0.0025 or -0.36%. US Dollar Boosted by Surge in Treasury Yields The U.S. Dollar is moving higher against its New Zealand counterpart amid another surge in the benchmark 10-year U.S. Treasury yield that rose Monday to a level not seen in more than three years, as traders continued to assess rising inflation . The yield on the 10-year Treasury note rose 5 basis points to 2.8662%, a level last seen in late 2018. The yield on the 30-year Treasury bond jumped 2 basis points to 2.9424%. NZD Traders Show Little Reaction to China Economic News While Eyeing COVID Shutdowns New Zealand Dollar traders showed little reaction to economic reports from China since the data is considered stale. Meanwhile, the focus is on the harsh COVID-related lockdowns in China that could have an impact of future economic data. This could hurt the New Zealand economy since they are major trading partners. Daily NZD/USD Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. The downtrend was reaffirmed earlier in the session when sellers took out the main bottom at .6729. A trade through .6902 will change the main trend to up. The NZD/USD is currently testing the lower end of the retracement zone at .6782 to .6722. Daily Swing Chart Technical Forecast The direction of the NZD/USD into the close on Monday is likely to be determined by trader reaction to .6760. Bearish Scenario A sustained move under .6760 will indicate the presence of sellers. The first major support is the Fibonacci level at .6722. Taking out this level could trigger an acceleration to the downside with the February 24 main bottom at .6631 the next major target. Story continues Bullish Scenario A sustained move over .6760 will signal the return of buyers. This could lead to a test of the 50% level at .6782. Overtaking this level will indicate the buying is getting stronger. This could trigger an acceleration to the upside into another 50% level at .6833. Side Notes Due to the prolonged move down in terms of price and time, a close over .6760 will form a potentially bullish closing price reversal bottom. If confirmed, this could lead to a 2 to 3 day counter-trend rally. This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Remains Under Pressure As Treasury Yields Move To New Highs EUR/USD Tries To Settle Below The Support At 1.0780 Dubai Leads The Way as Middle East Becomes Crypto Hotbed Sellers Lock and Load Ahead of Netflix Report June Gold Strengthens Over $2009.90, Weakens Under $1987.60 A Matter Of When Not If For Spot Bitcoin ETF – Grayscale CEO || Another Bitcoin Core Update Could Roll Out in April: • Bitcoin Core might see its next major release around April as the first RC version (v23) is released on Github.
• Bitcoin Core is the BTC source code’s reference implementation, and all other implementations look towards it for guidance.
• The update could improve transaction privacy and allow recurring payments without a third party.
Bitcoinhas undergone many upgrades and changes since it was launched in 2009. The Taproot upgrade was the most recently implemented and significant upgrade on its network in the past four years. Now, yet again, there are speculations that Bitcoin Core might see its next major release around April as the first RC version (v23) is released on Github.
Details surrounding the upcoming major release remain scarce for now, aside from the Github announcement. Prominent crypto-journalist Colin Wu recently pointed out that Bitcoin Core might see its next major release around April. Some users onTwitterbelieved that the upgrade would ‘mainly improve transaction privacy and allow recurring payments without a third party.’
Since Bitcoin Core is the Bitcoin source code’s reference implementation, all other implementations look to Core for guidance. In September 2021, Bitcoin Core 22.0 replaced version 0.21.0, marking the release of the 22nd version of the update. Bitcoin Core 22.0 was the first major release to support the Taproot protocol upgrade, launched in November 2021. Taproot was proposed in 2018 by Gregory Maxwell, then-CTO at Blockstream Bitcoin development studio.
The Taproot upgrade batches multiple signatures and transactions together, making it simpler and faster to verify transactions on the BTC network. While the BTC network rarely undergoes drastic changes, it shows that the network is still evolving, even if progress is steady.
With the speculations around a new BTC update scheduled for the next month, if the same happens, a decent price rebound could be expected by traders. However, at press time, BTC traded at $40,182, noting a 5.08% daily drop in price.
Arecent articlenoted how Bitcoin’s mining difficulty saw its first negative adjustment of -1.49% this year as the price consolidated. Nonetheless, the top coin’s recent short-term pullback saw a return of retail investors to the BTC landscape. The same could aid price pumps in the short term or mid-short term.
For now, however, with the recent rally cooling off, the larger market also saw a pullback as the total crypto market cap fell under the $1.8 trillion mark.
Thisarticlewas originally posted on FX Empire
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• USD/CAD Dips as the Loonie Breaks Out || 7 Recession-Proof Stocks for Nervous Investors to Buy in 2022: There’s a lot of ways to go about picking recession-proof stocks. Certain industries such as consumer staples, utilities, and health care tend to fare well even during economic downturns.
Other analysts might point to certain statistics, such as high profit margins, low variation of earnings, or a net cash position on a company’s balance sheet.
Those all have their merits in terms of determining a company’s quality and safety. However, for this list, I’ll be usingdividend aristocratsas the primary filter. A dividend aristocrat is a company that has increased its dividend payout each and every year for at least the past 25 years.
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As of this year, that means that any current dividend aristocrat has increased their dividend annually without fail dating back to 1987. Since then, companies have endured the crash of 1987, the fall of the Soviet Union, the 1990s dot-com bubble, the 9/11 attacks, the 2008 financial crisis and Covid-19. Any company that has run that gauntlet and come out with a steadily increasing stream of earnings and dividends can withstand any mere recession that comes along.
With that in mind, here are seven dividend aristocrats that make for high-quality recession-proof stocks in 2022:
• Aflac(NYSE:AFL)
• 3M Company(NYSE:MMM)
• Brown-Forman(NYSE:BF.A, NYSE:BF.B)
• Colgate-Palmolive(NYSE:CL)
• Hormel Foods(NYSE:HRL)
• Walmart(NYSE:WMT)
• Kimberly-Clark(NYSE:KMB)
Source: Ken Wolter / Shutterstock.com
Interest rates are going up. The Federal Reserve hiked its key benchmark interest rate on Wednesday, marking the first rate increase since 2018. The bank signaled that this would hardly be a one-off, either. Rather, the market is currently pricing in roughly eight hikes over the next 12 to 24 months.
This should be pure gravy for an insurer like Aflac. After all, the business model is to collect premiums from customers and invest them. A large part of an insurers’ investments are typically in fixed income securities. These have not been particularly fruitful in recent years with interest rates near zero.
With a Fed funds rate closer to the 2% to 3% range, however, interest rates would lift across the board, allowing Aflac to earn a much higher yield on the income portion of its investment portfolio.
Even as things stand today, with interest rates still at a low level, Aflac stock is trading at just 10x earnings. With the upcoming rise in returns on fixed income products, Aflac’s profits could jump considerably.
AFL stock also offers a reasonable 2.5% dividend yield for its shareholders.
Source: JPstock / Shutterstock.com
Industrial conglomerate 3M is most known for its Post-it notes and other adhesive products. However, it’s far more than that.
The company is a big player in the auto parts market, it makes workplace safety products, and it offers a diverse line of goods in the health care industry, among other endeavors. This makes 3M one of the most all-encompassing ways to profit from the American industrial sector.
MMM stock has sold off lately around some legacy legal issues. Once those are cleared up, however, look for MMM stock to stage a swift recovery. In the meantime, shares are trading for just 14x forward earnings and offers a dividend yield of greater than 4%.
Those are strong figures for a company that has hiked its dividend for an incredible 63 years in a row. Out of the American industrial companies, it’s hard to top 3M for consistent growth and income.
Source: monticello / Shutterstock.com
Brown-Forman is one of the largest American spirits companies. It is primarily known for its Jack Daniels whiskey. It also has a popular franchise in the rapidly-growing field that is tequila.
Alcohol tends to do well during recessions for obvious reasons; people may actually drink more during hard times, in any case, demand doesn’t slip too much. The company is also the best in breed of the spirits companies as it routinely earns the highest profit margins and returns on its investments.
Brown-Forman stock always tends to look expensive on an earnings or free cash flow basis. However, it’s worth the premium, given its impeccable quality and safety. And, as things stand now, shares are near 52-week lows, offering a better value than usual for this rock solid defensive play.
Finally, it’s worth noting that there are two share classes of BF stock. The B shares are more widely traded, and are the ones commonly owned by exchange-traded funds. However, the A shares are cheaper while paying out the same dividend as the B shares.
In addition to that, the A shares have voting rights, whereas the B class does not. Thus, the A shares are superior in all ways except trading liquidity, and thus are the preferred option for long-term holders.
Source: monticello / Shutterstock.com
Toothpaste and cleaning products giant Colgate-Palmolive is another reliable consumers staples company. Regardless of what happens with the economy, people need to brush their teeth and clean their homes, after all.
Colgate shares moved up to new all-time highs during the pandemic. That was understandable, as demand temporarily surged. Now, however, things have moved back to normal. Meanwhile, inflation pressures are hitting the bottom line.
CL stock has backed off 15% from the highs given these developments. However, the business should be back to normal in 2023. Analysts see earnings recovering and CL stock is trading at just 20x those projected earnings. That’s not bad at all for a company that makes indispensable products such as toothpaste.
Source: calimedia / Shutterstock.com
Hormel Foods is one of the nation’s leading food companies. It specializes in proteins. Hormel has built a wide array of protein-focused brands. It is most famous for its Spam canned meat offering, however that is actually only a small portion of its overall revenues. Hormel is also a leader in bacon, pepperoni, deli meats and other such foods.
In addition, it has taken on a wide variety of non-meat products to appeal to younger consumers. These include guacamole, Mexican salsas, Justin’s nut butters, plant-based meat offerings, and most recently, the acquisition of the Planters nut and snack business.
Hormel has exceeded most of its packaged foods peers in terms of earnings growth and stock performance in recent years. This is largely because Hormel focuses on owning its categories rather than being one of many brands selling a commodity good.
Hormel would rather sell the No. 1 guacamole, canned chili or organic deli meat rather than be one of many makers of a more competitive product like cereal or chips. Hormel’s niche-dominating strategy has led to higher profit margins and has resisted the encroachment of store-brand options.
Hormel is projected to set a new record for earnings this year, and the stock price appears set to follow as the company has overcome the current inflationary wave that has crippled so many of its food industry peers.
Source: Jonathan Weiss / Shutterstock.com
Walmart was one of the very few large-cap blue-chip companies that went up during the financial crisis. That’s right, if investors bought WMT stock at the market peak in 2007, they actually made a small profit over the next two years while the rest of the stock market collapsed.
What made Walmart shares a lighthouse during the storm? Simply put, when the economy stumbles, people have to trade down. Instead of going to upscale stores, they shop for value. And few retailers offer more value than Walmart and Sam’s Club.
Meanwhile, Walmart is showing life in the e-commerce game. Back around 2016, WMT stock fell to historically low valuations as investors feared thatAmazon(NASDAQ:AMZN) would leave it in the dust. Since then, however, Walmart has fought off Amazon’s grocery store push, and the pandemic gave Walmart the opportunity to show off its improved e-commerce and omnichannel capabilities.
Long story short, Walmart is still the king of delivering everyday low prices, and that’s a feature that never goes out of style during hard times. That’s what makes it one of our recession-proof stocks.
Source: Trong Nguyen / Shutterstock.com
Toilet paper and cleaning products company Kimberly-Clark has had an up and down couple of years. Like Colgate, Kimberly-Clark excelled during the pandemic as toilet paper was briefly a coveted product.
However, that surge in buying activity led to a natural slump the next year as consumers were already stocked up. Throw in the supply chain headaches and a surge in the price of wood pulp, and Kimberly-Clark wasn’t able to keep 2020’s momentum going for long.
The current downturn in earnings and the stock price should lift over the next year, however. At the end of the day, Kimberly-Clark sells absolutely essential products, and the supply chain and inflation issues will be ironed out in due time. Meanwhile, the company is down to 17 times next year’s earnings while offering a nearly 4% dividend yield. That’s a standout offer from this long-running dividend aristocrat.
On the date of publication, Ian Bezek held a long position in HRL, BF.A and MMM stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Recession-Proof Stocks for Nervous Investors to Buy in 2022appeared first onInvestorPlace. || 4 Top Stock Trades for Friday: F, PFE, WMT, RTX: The bulls showed back up to fight on Thursday after stocks initially rolled over in the morning session. With that in mind, let’s look at a few top stock trades as we finish out the week. Top Stock Trades for Tomorrow No. 1: Ford (F) Weekly chart of Ford Click to Enlarge Source: Chart courtesy of TrendSpider Ford (NYSE: F ) was one of the best-performing auto stocks for a bit of time. Now, it’s fallen by the wayside. And this week has not been pretty for Ford, either. After holding the 50-week moving average through this year’s correction thus far, it failed this week. The stock is now down into the 50% retracement of the full range — from the Covid-19 low to the recent high. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Safe Stocks to Buy to Guard Against a Recession If Ford bounces, look to see if it can climb back to the 50-week moving average. Keep in mind this measure may be resistance. If shares continue lower, the 61.8% retracement and $12.50 support level could be on deck. Top Stock Trades for Tomorrow No. 2: Pfizer (PFE) Top stock trades for PFE Click to Enlarge Source: Chart courtesy of TrendSpider Pfizer (NYSE: PFE ) has been trading well over the past few days, as longs can attest. With the rally, it was able to reclaim its 10-week and 21-week moving averages. Now it’s sitting in an interesting place, though. Pfizer is sitting at last month’s high of $55.30 with the 61.8% retracement less than 20 cents higher. If we can get a rotation to the upside — and this is a big “if” — then more upside could be in play. Specifically, I’d be looking at $58.50 as my next upside target, then $61 to $62. If the stock pulls back, that’s OK. But I want to see it hold $53.50 in that case. Top Stock Trades for Tomorrow No. 3: Walmart (WMT) Top stock trades for WMT Click to Enlarge Source: Chart courtesy of TrendSpider Walmart (NYSE: WMT ) has been an absolute beast lately. Now up in 10 out of its past 11 sessions, it’s clearly in breakout mode. So, what would I like from here? I would love to see Walmart stock dip back into the $152s and time up with a test of the 10-day moving average. That would give dip-buyers a reasonable risk/reward to get long. Story continues If that sets up and holds as support, this week’s high becomes the first upside target near $157.50. Above that could open the door to the $165 zone. 7 Virtual Reality Stocks Bringing Web 3.0 to Life However, if Walmart loses $150, bulls have to look for a possible test down to the 21-day moving average. Top Trades for Tomorrow No. 4: Raytheon (RTX) Top stock trades for RTX Click to Enlarge Source: Chart courtesy of TrendSpider Defense stocks have been trading well lately. And while Raytheon (NYSE: RTX ) is lagging some of its peers in terms of rotation, it’s still looking OK. With a nice little falling wedge pattern in play, shares are breaking to the upside and reclaiming the 10-day and 21-day moving averages in the process. I would love to see a daily-up rotation tomorrow for a potential long trigger, particularly if it can clear and hold above the 61.8% retracement. That would put $102.50 to $103 in play, then potentially $106. Below the 21-day and this one loses my interest. On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . 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 4 Top Stock Trades for Friday: F, PFE, WMT, RTX appeared first on InvestorPlace . || Limiting Proof-of-Work Crypto Back on the Table as EU Parliament Prepares Virtual Currencies Vote: The latest draft of the European Union's (EU) proposed legislative framework for governing virtual currencies, Markets in Crypto Assets (MiCA), still contains a provision that could limit the use of proof-of-work cryptocurrencies. Proof-of-work is the energy-intensive consensus mechanism that underlies popular cryptocurrencies like bitcoin (BTC) and ether (ETH). The computing process has come under heavy scrutiny from lawmakers in the EU over energy concerns. A previous draft of the MiCA framework contained a strongly worded provision that proposed a prohibition of crypto services that rely on environmentally unsustainable consensus mechanisms starting in January 2025. But the provision was later scrapped following industry backlash. The EU parliamentarian in charge of the MiCA legislative framework, Stefan Berger, said at the time that the paragraph in question had been removed , but that a final decision had not yet been made. One version of the new draft, reviewed by CoinDesk, has a similar provision though significantly toned down from the original. It says that crypto assets "shall be subject to minimum environmental sustainability standards with respect to their consensus mechanism used for validating transactions, before being issued, offered or admitted to trading in the Union." If a proof-of-work consensus mechanism is operating on a small scale, it is exempt from having to meet sustainability standards, according to the provision. What qualifies as a small-scale operation has yet to be determined. Read more: Crypto Advocates Push Back on Sweden’s Call for EU Mining Ban It also says that energy-intensive crypto assets that are already in use in the EU before the legislation comes into effect, will have to "set up and maintain a phased rollout plan to ensure compliance with such requirements" as specified in another part of the framework. Another version of the measure, also seen by CoinDesk, would soften the language even further. However, it's believed the stronger version has a lot of support among parliamentarians. Story continues Although there are plans to move Ethereum from proof-of-work to a less energy-consuming consensus mechanism called proof-of-stake, it is unclear how bitcoin, the largest global cryptocurrency by volume traded, could transition from proof-of-work. So while there's been a huge push as of late to use renewable energy in bitcoin mining, the industry is still very much dependent on traditional energy sources, thus making the cryptocurrency potentially vulnerable under the stronger proposal. The crypto community has been swift to react, with some calling on citizens in the EU to contact their parliamentarians to oppose the measure. Ledger, a crypto hardware wallet provider, issued a statement saying: Individuals and organizations should be free to choose the technology most appropriate to their needs. Policymakers should neither impose nor discriminate in favor of a particular technology. This is deeply concerning and would have serious consequences for Europe. Pierre Person , a legislator in Paris and member of the Law Commission, condemned the newly added language in an extensive Twitter thread . In it, he addressed the impact that such regulation would have on European competitiveness in the growing crypto ecosystem. (9/9) Once again, we are going against the History. Once again, we are leaving opportunities to others while boasting of having a good regulation. If this text passes as it stands, we will pay the price in terms of our competitiveness and the interests of European citizens. — Pierre PERSON (@Pierr_Person) March 11, 2022 The EU parliament is set to vote on the latest MiCA draft on March 14. UPDATE (March 3, 16:13 UTC): Adds information about alternative version. UPDATE (March 3, 18:23 UTC): Adds statements from Ledger and Pierre Person. || British Pound Reaches the 50 Day EMA Against Yen: The British pound has rallied significantly during the trading session on Tuesday to reach the 50 Day EMA. At this point, the market will have to pay close attention to the area from here to the ¥155 level, an area that has been important more than once. If we can break above the ¥155 level, then it is possible that we could go looking towards the ¥157.50 level. GBP/JPY Video 16.03.22 We are getting a bit extended, so do not be surprised at all to see this market turn back around. Keep in mind that the pair is highly sensitive to risk appetite around the world, so if things start to get ugly again, it is very likely that the Japanese yen could attract a certain amount of attention. As things stand right now, this is a major move to the upside because of the interest rate differential, but a flight to safety could change a lot of things. Ultimately, I think we are in a huge consolidation area, and we are getting rather close to major resistance, so I would look for short-term pullbacks. At this point, the market is likely to go looking towards the ¥152.50 level, which is also where the 200 Day EMA sits. That attracts a certain amount of attention, and therefore traders will continue to look at this as a market that is highly volatile, so position sizing is going to be crucial in order to protect your account due to the massive amounts of volatility. 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: Bitcoin and ETH Remain Range Bound, SOL Reaches Key Juncture British Pound Bounces From Large Round Figure Euro Rallies Slightly on Tuesday Trader Reaction to 4228.25 Sets E-mini S&P Tone into Close Crude Oil Markets Test 50 Day EMA Natural Gas Markets Pull Back to Reach 50 Day EMA || US seizes $34 million of crypto from the dark web: In what the DOJ calls one of the largest cryptocurrency civil forfeiture filings in US history, the Southern District of Florida has successfully seized around $34 million worth of coins and tokens from a seller on the dark web. According to a recent release , the illicit crypto was seized from a South Florida resident who used an online alias to sell more than 100,000 illicit items across marketplaces on the dark web. The bulk of the sales is said to be hacked account info from a number of major services including HBO, Netflix, Uber and others. Prosecutors from the Southern District of Florida say the resident used TOR (The Onion Router) to access the dark web, before using a series of tumblers to convert one cryptocurrency to another in order to hide its source. This series of actions is often called chain hopping and is considered a form of money laundering, which obviously a big no-no at both the federal and state levels. Eventually, proceeds from the illicit sales were deposited in random increments at random times in designated crypto wallets, which were later recovered by law enforcement. Between May 16th, 2017 and June 19th, 2017, authorities seized approximately 919.3 Ethereum, 643 Bitcoins, 640 Bitcoin Gold, 640 Bitcoin Cash and 640 Bitcoin SV The DOJ says the civil forfeiture filing comes as a result of Operation TORnado, which is a joint investigation by the Organized Crime Drug Enforcement Task Forces (OCDETF) across multiple federal, state and local agencies. However, while that $34 million sum (which was worth as much as $47 million at one point based on court docs) is certainly a lot, given the growing popularity of crypto, it almost certainly won't be one of the largest seizures for long.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 39241.12, 39773.83, 38609.82, 37714.88, 38469.09, 38529.33, 37750.45, 39698.37, 36575.14, 36040.92
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Cryptocurrencies' market cap hits record $200 billion as bitcoin soars: By Jemima Kelly
LONDON (Reuters) - The aggregate value of all cryptocurrencies hit a record high of over $200 billion on Wednesday, according to industry website Coinmarketcap, putting their reported market value at more than that of U.S. banking giant Citigroup (C.N).
The new record came as the biggest and best-known cryptocurrency, bitcoin, hit a record high of $7,500 (BTC=BTSP) on the Luxembourg-based Bitstamp exchange, after a more than tenfold increase in value over the past 12 months.
That took its own "market cap" - its price multiplied by the number of coins that have been released into circulation - to a record high of more than $120 billion.
The second-biggest cryptocurrency, ether - sometimes known as "Ethereum" after the project behind it - has a market cap of just below $30 billion, with another 1000 or so rival digital currencies making up the rest of the $200 billion.
If the cryptocurrency market were a company, its valuation would put it in the top 25 firms on the S&P 500 (.SPX) stock index.
The latest surge in bitcoin was driven by news this week that CME Group (CME.O), the world’s largest derivative exchange operator, would launch bitcoin futures in the fourth quarter of the year, as well as speculation that Amazon could be set to accept the digital currency.
Many are concerned that the market represents a bubble, with the latest warning coming from the head of Credit Suisse on Thursday.
(Reporting by Jemima Kelly; Editing by Saikat Chatterjee) || Bitcoin is soaring because a hard fork has been averted: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. Picture taken October 26, 2017. Bitcoin hit a high of $7,879 today (Nov. 8), a new record high, minutes after one faction of the community that had been pushing for a hard fork, which would have doubled its transaction capacity, announced that it would abandon its effort. 200 universities just launched 600 free online courses. Heres the full list. The chief executives of a number of prominent bitcoin companies, including Xapo, Bitmain, and Blockchain.info, signed off on a letter today saying that the effort to fork bitcoin, called Segwit2x, would be called off because it would divide the community. The letter was posted to the Segwit2x mailing list. Continuing on the current path could divide the community and be a setback to Bitcoins growth. This was never the goal of Segwit2x, the letter, signed by six CEOs, said. The bitcoin world has been riven by infighting over how to increase its transaction capacity, or how to scale the cryptocurrency. One faction envisions bitcoin acting as a decentralized payments platform, allowing people to pay for their daily coffee, for example, with bitcoin. But because bitcoins transaction capacity is so smallroughly seven transactions per secondthe technology cant be used for that without charging increasingly higher transaction fees. The opposing camp views bitcoin as a type of digital gold, meant for storing in a vault rather than used to pay for coffee. Bitcoin, which was trading as low as $7,078 today, shot up to $7,879 after the letter was published. The Segwit2x proposal would have doubled bitcoins transaction capacity, which most bitcoin users believe is necessary. The proposal was contentious because of the way the changes would be imposed, which would have changed the block size, a cap on bitcoins transaction rate set by its creator, Satoshi Nakamoto. Opponents to Segwit2x argued that this change would alter bitcoins essential character too greatly, and place too much decision-making power in the hands of miners and heads of big companies in the industry, because the protocol would have been altered at their say-so. Story continues Bitcoin has already forked twice this year, creating the bitcoin cash and bitcoin gold cryptocurrencies. Neither has threatened the dominance of the original chain because they have not attracted enough investors. But the Segwit2x fork was seen as a credible threat to the original bitcoin chain because of the amount of industry support behind it. The abandonment of the Segwit2x fork is a major victory for proponents of bitcoin as a kind of digital gold by maintaining the status quo. But it risks limiting the cryptocurrencys usefulness as a payment mechanism, as the number of transactions rise and the network struggles to process them in a timely and inexpensive manner. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: An ancient philosophers advice for living a fulfilled life, even in the darkest times In Beijing, Trump should get acquainted with Xi Jinpings Steve Bannon || Top 5 Things That Moved Markets This Past Week: Investing.com – Take a peek at the top 5 things that rocked U.S. markets this week.
Flynn, Senate Tax Bill Rocked US Markets
Investors had to contend with a wild ride in US stock markets this week as signs of progress on tax reform were offset by reports suggesting that Michael Flynn was prepared to testify against President Donald Trump as part of the investigation into Russian involvement in the election.
Flynn is prepared to testify that President Donald Trump directed him to make contact with Russians when he was a presidential candidate, ABC News reported.
The dow jones fell as much as 350 points on Friday but recovered to close roughly 40 points lower as focused shifted to tax reform after Senator Mitch McConnel said Republicans had the 50 votes they need to pass the tax bill.
Bitcoin Hit $11,000
Wild swings in Bitcoin continued as the popular digital currency soared to $11,427.2 for the first time in its nine-year history on Wednesday before profit taking set it, forcing the digital currency to fall below $9,000.
The drop in bitcoin was short-lived, however, as it recovered amid growing expectations that Chicago Mercantile Exchange and the CBOE Futures Exchange will be the first traditional exchanges to enter the cryptocurrency market.
"We are pleased to bring Bitcoin futures to market”, Terry Duffy, CME Group Chairman and Chief Executive Officer on Friday. Bitcoin futures will be available to trade on Dec. 18.
Sterling Soared to 2-Month Highs
Sterling rose to two-month highs as sentiment on brexit turned positive following reports this week suggesting British and EU negotiators have reached a deal over the so-called Brexit divorce bill.
If a settlement on the Brexit divorce bill is agreed, it paves the way for UK-EU discussions on an interim trade deal, easing the risk of “hard Brexit” – the UK exiting the EU without a trade deal.
GBP/USD came under pressure on Friday but remained close to two-month highs.
OPEC, Russia Extended Oil Cuts Through 2018
OPEC and some non-OPEC producers who met on Thursday in Vienna, Austria, said they would continue to cut supply by 1.8 million barrels per day (bpd) until the end of 2018, raising expectations for a continued drawdown of inventories as rebalancing in markets gets underway.
The announcement of a nine-month extension had a muted impact on oil prices as the extension was said to be mostly priced in, but reports that both Nigeria and Libya decided to cap production added a positive slant on the outcome of the meeting.
Crude futures for January delivery rose 1.7% to settle at $58.36 a barrel.
Gold Prices Slipped to Second-Straight Weekly Loss
A rally in gold prices on Friday on reports suggesting Michael Flynn was “prepared to testify” against President Donald Trump as part of an investigation into Russia’s involved in the presidential election failed to offset losses earlier in the week.
The losses in gold earlier this week came amid signs that US inflation is starting to gather pace lifted the dollar higher, reducing demand for the precious metal.
The core price consumer expenditure (PCE) index – the Fed’s preferred measure of inflation –rose 1.4%in October year-on-year, compared to a 1.3% rise in the previous month, while September inflation was revised upward to 1.4% from 1.3%.
The upbeat inflation report, fuelled expectations that the Federal Reserve would adopt a more aggressive stance on monetary policy, lifting yields and the dollar to session highs, which pressured gold prices to a nearly two-week low.
“We now see four rate hikes next year instead of three, followed by three hikes in 2019 instead of four,” said Deutsche Bank.
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Top 5 Things That Moved Markets This Past Week
Canada stocks lower at close of trade; S&P/TSX Composite down 0.15% || An app for buying and selling bitcoin has rocketed to the top of the iPhone App Store charts (AAPL): Brian Armstrong Coinbase Anthony Harvey/Getty Images for TechCrunch The price of bitcoin is soaring. Coinbase, one of the services that makes it easy to buy and sell bitcoin, is soaring too it's now the no. 2 app on Apple's iPhone App Store. Bitcoin has had a volatile ride over the past week, with prices for a single coin skyrocketing to as much as $19,500 per coin at one point. The cryptocurrency's wild ride is also boosting apps and services that enable people to buy and sell bitcoins. Coinbase, one of the most user-friendly Bitcoin services, shot up to the top spot on Apple's App Store's most-downloaded free app chart on Thursday. But like Bitcoin's price, the App Store charts can be volatile, and it dropped to the no. 2 spot on Friday. Coinbase was also a trending download, according to the App Store search page. One estimate from app analytics firm Sensor Tower looking at both Apple's app store as well as Google's suggests that new users installed the Coinbase app more than 575,000 times in the first week of December. That's a 225% rise over the first week in November, where it was only installed 177,000 times, according to Randy Nelson, head of mobile insights at Sensor Tower. That's a meteoric rise for an app that was the no. 216 free app in the United States on Apple's store only a month ago, according to App Annie data. The influx of new users may be one reason that Coinbase has had trouble keeping its service working properly over the past few days it could simply be deluged by new users. Coinbase said users had trouble logging in because of record-high traffic. After all, bitcoin's rapidly spiking price is causing a bit of a mania, with lots of first-time investors seeing the large price swings and seeing a chance to play the cryptocurrency market. Here's our guide to how to buy Bitcoin on Coinbase . CoinBase #2 iTunes NOW WATCH: Amazon has an oddly efficient way of storing stuff in its warehouses See Also: The 20 most popular iPhone apps of 2017 The amount of money flowing through Venmo has surged at least before the launch of Apple's rival service Analysts expect Apple will launch a plus-sized iPhone X in 2018 || Bitcoin is sliding after bitcoin gold goes live: MI
• Bitcoinis trading down 4.5% Tuesday following a split in the cryptocurrency's blockchain network.
• Bitcoin gold, the new digital coin formed by the split Tuesday morning, follows the bitcoin-bitcoin cash fork in August.
• The project website for bitcoin gold is down following a DDoS attack, according to cryptocurrency watcher CoinDesk.
• The bitcoin community is split over whether forks are good or bad for bitcoin.
Bitcoin, the red-hot digital currency up more than 400% this year, was trading down 4.42% Tuesday morning after the blockchain network underpinning the coin split again.
As reported by cryptocurrency watcher CoinDesk,bitcoin gold officially split from the bitcoin networkTuesdaymorning. The new cryptocurrency is a clone of the original bitcoin blockchain, but it will play by different rules than the original digital currency.
"Instead of scaling bitcoin to support more users,bitcoin goldtweaks bitcoin in an effort to 'make bitcoin decentralized again,'" CoinDesk reported. "This, proponents argue, will make the network, designed to offer an egalitarian way to send payments digitally around the globe, more accessible to users."
Bitcoin cash separated from bitcoinearlier this year following mounting disagreements amongst the coin's power brokers over how to scale the cryptocurrency. Since bitcoin is open-source, folks can freely update its underpinning software.
Twenty exchanges will back the new cryptocurrency, meaning folks who own bitcoin on certain exchanges will now hold one bitcoin gold for every bitcoin. Bitcoin owners should not expect, however, to see the value of their holdings double.
Separately, it appears bitcoin gold's website is down following a DDoS attack, a type of cybersecurity attack. Here's a tweet from the cryptocurrency's developers:
Tweet Embed:https://twitter.com/mims/statuses/922742024306151424?ref_src=twsrc%5EtfwMassive DDoS attack on our cloud site. 10M requests per minute. We are working with the providers to ban all the IPs. We will be up soon!
CoinDeskfirst reported the news.
The cryptocurrency community appears divided over whether splits are good for the future of bitcoin.
Bob Summerwill, a chief blockchain developer at Sweetbridge, a cryptocurrency liquidity provider, said in a note emailed to Business Insider that there is no such thing as a 'bad fork.'
"Splits happen periodically in all open-source communities," he wrote. "Having everyone collaborating in a single project is ideal, but sometimes there are genuine differences of opinion, and network effects are not enough to keep everybody together, so a group secedes."
Others are less bullish on splits. For instance, Sol Lederer, a blockchain director at LOOMIA, said he is worried about trivial disagreements disrupting the upward march of bitcoin.
"What's deeply troublesome is that these spinoffs sprung from a relatively minor squabble in the bitcoin community on how to handle the block size limit," Lederer wrote. "Instead of coming to agreement, the community, developers, and code are fracturing into different groups."
Another fork is possibly on the horizon. The second part of SegWit2x, which would increase the size of blocks that underpin bitcoin's network, is set to go into effect next month and not everyone is on board with the proposed change.
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SEE ALSO: || A very bullish open for bitcoin futures suggests that the price can go even higher: Bitcoin futures debuted in Chicago last night, which could make it easier for institutional investors to embrace the digital asset. It was a widely watched event, and the website of the company launching the derivative, Cboe Holdings, was overwhelmed and inaccessible for a time. Even infamous rogue trader Nick Leeson was watching: Batteries cant solve the worlds biggest energy-storage problem. One startup has a solution. How much can I lose in the first hour of trading? https://t.co/mUWGB0sYgN Nick Leeson (@TheNickLeeson) December 10, 2017 Former Facebook executive has sworn off social media because he doesnt want to be programmed Bitcoin futureswhich allow traders to speculate on what an assets price will be at some later datesurged more than 20% from their launch price, to well over $18,000 for the January contract. At the time of writing, the January contract was trading for around $17,700. While traffic to the Cboe website was heavy, the company said its trading systems were unaffected and that the launch was orderly. Toby Allen, a partner at Akuna Capital , called it a very bullish open. Two circuit breakers were triggered and more contracts changed hands than expected for a brand new product, said Allen, whose trading firm was posting bids and offers for the bitcoin futures. Circuit breakers are meant to slow or pause trading when price movements are excessive. The trading so far suggests that futures traders expect bitcoins wild rally to continuealthough trading for February and March settlement is thin, prices are above $19,000. Earlier this month, Edward Tilly, CEO of Cboe, told Quartz that some of the early users of bitcoin futures are likely to be sophisticated individual traders and cryptocurrency dealers who until now couldnt effectively hedge their positions. Others have suggested that bitcoin miners who incur massive electricity bills could use futures to hedge their costs. Story continues Cboes bitcoin futures launch is a first step in bringing bitcoin into the financial mainstream, but it will take time to know whether its contracts catch on. And the exchange will soon have to compete with a rival contract from CME Group. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: AI is now so complex its creators cant trust why it makes decisions The world is relying on a flawed psychological test to fight racism || FOREX-Dollar rises after strong U.S. services, manufacturing data: (Updates with U.S. trading; changes dateline; previous LONDON)
* Dollar nears highest since July
* ISM non-manufacturing, factory orders push dollar higher
* Bitcoin hits all-time high of $7,500
By Dion Rabouin
NEW YORK, Nov 3 (Reuters) - The dollar rose broadly on Friday after the release of U.S. factory orders and services sector data that beat estimates, reversing an earlier slide after an underwhelming October jobs report.
The euro turned negative against the dollar, falling to its lowest level of the day after the U.S. factory orders and ISM non-manufacturing PMI data, while the dollar turned positive against the Japanese yen, erasing earlier losses.
The Institute for Supply Management's non-manufacturing purchasing managers' index rose to its highest level since 2005. New orders for U.S.-made goods rose for the second straight month in September and orders for core capital goods surpassed expectations.
The dollar index, which measures the greenback against six rival currencies, rose to its highest since Oct. 27, closing in on a nearly four-month peak.
The dollar had earlier fallen to its lows of the day after the release of October U.S. non-farm payrolls, which came in below expectations.
The jobs report showed its largest gain since July 2016, but missed economists' expectations for an increase of 310,000 jobs, following a particularly weak reading in September.
Analysts said the report lacked the numbers to increase long-term inflation expectations.
"From a dollar perspective the December hike is a done deal, but the Fed is planning to hike three times next year and we didn’t get a hawkish shift in terms of a new Fed chair," said Vassili Serebriakov, FX Strategist at Credit Agricole. "So with the kind of inflation numbers we’re getting now, three hikes is starting to look optimistic."
Higher U.S. overnight interest rates, as set by the Fed, would make the dollar more attractive for investors to hold, driving up its value.
The move higher put the dollar index on course to post its third straight weekly increase, adding to its largest weekly percentage gain of the year last week. October was the dollar's best monthly performance since February.
Digital currency bitcoin took another leap higher on Thursday, rocketing above $7,000 for the first time after a more than tenfold increase in value over the past year.
It hit as high as $7,500 on the Luxembourg-based Bitstamp exchange on Thursday.
“People should not be surprised by this move, they should try to understand it before dismissing it," said Rahul Sood, CEO of Unikrn, a U.S. sports betting digital platform. "The fact is there is a finite amount of Bitcoin in the world." (Reporting by Dion Rabouin; Additional reporting by Gertrude Chavez; Editing by Dan Grebler) || Google’s year in search finds people ready to take action: It's been a heck of a year. And as 2017 draws to a close, a bunch of web giants are on hand to remind us of what we got up to on their services.Twitterhad us raging,Facebooksaw us praying for victims of tragedies, and now Google (the biggest of the three) is sharing itsyear in search. The top spot in the US and worldwide was reserved for Hurricane Irma. The same went for Google news trends in the US, which were dominated by natural disasters, including Hurricane Harvey, Hurricane Jose, and Hurricane Maria, with the looming threat of North Korea and the tragic mass shooting in Las Vegas making the top ten as well.
Although, it's difficult to chalk 2017 up as anything other than a lousy year, we can find some solace in the well-meaning "how" queries sent Google's way. Aside from an increase in political mobilization (as evidenced in the popularity of "how to make a protest sign?"), we were asking "how to help?" more than ever. Spurred by natural disasters (like the California wildfires), people also looked for ways to help out within local communities by asking how to become firefighters, paramedics, social workers, and activists. "In these moments and others, our collective humanity shined," remarked Google.
The company itself marked the year by fully embracinghardware, but (judging by its trends) thePixel 2wasn't the handset search users were anticipating the most. That honor went to Apple'siPhone 8andiPhone X, which came in at second and third place respectively on global search results. Staying on the tech side of things,Bitcoinwas also in the mix, as people kept pace with its volatile price surges (while hopefully refraining from splashing theirsavingson the digital currency).
When it came to celebs, the news cycle had us furiously looking up Matt Lauer and other men on the end of sexual misconduct allegations. Harvey Weinstein, on the other hand, whose outing at the hands of aNew York Timesexpose opened the sexual harassment floodgates, wound up at number three.Kevin Spaceyand Bill O' Reilly also made the cut. Meanwhile, soon-to-be princess Meghan Markle landed in second place and Gal Gadot just cracked the top ten.
Elsewhere, in a grab bag of top US and global searches, we commemorated rock legends Tom Petty and Chester Bennington, gawked atMayweather vs McGregor, binged Netflix's13 Reasons Why, sought out thesolar eclipse, and googled fidget spinners (bet you're not doing that anymore). || Armed robbers steal $1.8 million worth of cryptocurrency: The Manhattan District Attorney haschargeda man with robbery and kidnapping after he swiped a digital wallet containing a fortune in ethereum cryptocurrency. Louis Meza and an associate allegedly held up the victim at gunpoint after luring him into a vehicle, then stole his keys, wallet and cellphone. Meza used the keys to enter the victim's apartment and make off with his digital wallet. Shortly afterwards, he transferred $1.8 million in "ether" cryptocurrency to his own wallet.
According to the DA's press release, Meza knew the victim and knew he had a large amount of ethereum. After meeting the victim on the evening of November 4th, "Meza insisted on ordering a car service for the victim, who entered a minivan after parting ways with Meza," the DA stated. The perpetrator was also charged with computer tampering, criminal possession of stolen property, and computer trespass.
The DA notes that the crime is a vivid illustration that hacking isn't the only way crooks can get their hands on your Bitcoins and other crypto-cash. "This case demonstrates the increasingly common intersection between cyber and violent crime," said NY County District Attorney Cyrus Vance. "We can expect this type of crime to become increasingly common as cryptocurrency values surge upward." || Bitcoin's value rose $10 billion in just 12 hours after a dramatic weekend sell-off: Bitcoin (Exchange: BTC=) rallied more than 11 percent in just over half a day on Monday, following a dramatic plunge in the cryptocurrency over the weekend. The digital currency started trading at $5,857.32 on Monday and rose nearly 15.6 percent to a session high of $6,770.37, according to data from industry website CoinDesk. Bitcoin last traded around 11.3 percent higher near $6,520.Bitcoin's market capitalization, or the total value of all the virtual coins in circulation, rose over $10 billion in the same time period, according to industry website Coinmarketcap.com.Bitcoin one-week performanceSource: CoinDesk Just last week, bitcoin hit a record high of $7,879.06 that was attributed to factors including CME Group (NASDAQ: CME) announcing plans to offer bitcoin futures contracts , and some favorable regulation in countries like Japan, which has legalized bitcoin as a method of payment. The bitcoin network was also due to undergo an upgrade called SegWit2x, which was initially planned for November 16. Its aim was to increase the transactions speed of the bitcoin network. But support for the upgrade has waned causing developers to call off its planned implementation . This appeared to be the catalyst for the sell-off that began Friday . Earlier this year, bitcoin's underlying blockchain technology split in a process known as a "hard fork." This happened twice, causing the creation of two new cryptocurrencies : bitcoin cash and bitcoin gold. Bitcoin cash saw a huge spike as bitcoin sold off with many investors betting that this could be a viable alternative. Bitcoin cash, however, also lost about half its value, plunging from an all-time high of $2,477.65 on Sunday to $1,277.29 on Monday, according to Coinmarketcap.com.WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters Bitcoin (Exchange: BTC=) rallied more than 11 percent in just over half a day on Monday, following a dramatic plunge in the cryptocurrency over the weekend. The digital currency started trading at $5,857.32 on Monday and rose nearly 15.6 percent to a session high of $6,770.37, according to data from industry website CoinDesk. Bitcoin last traded around 11.3 percent higher near $6,520 . Bitcoin's market capitalization, or the total value of all the virtual coins in circulation, rose over $10 billion in the same time period, according to industry website Coinmarketcap.com. Bitcoin one-week performance Source: CoinDesk Just last week, bitcoin hit a record high of $7,879.06 that was attributed to factors including CME Group (NASDAQ: CME) announcing plans to offer bitcoin futures contracts , and some favorable regulation in countries like Japan, which has legalized bitcoin as a method of payment. The bitcoin network was also due to undergo an upgrade called SegWit2x, which was initially planned for November 16. Its aim was to increase the transactions speed of the bitcoin network. But support for the upgrade has waned causing developers to call off its planned implementation . This appeared to be the catalyst for the sell-off that began Friday . Earlier this year, bitcoin's underlying blockchain technology split in a process known as a "hard fork." This happened twice, causing the creation of two new cryptocurrencies : bitcoin cash and bitcoin gold. Bitcoin cash saw a huge spike as bitcoin sold off with many investors betting that this could be a viable alternative. Bitcoin cash, however, also lost about half its value, plunging from an all-time high of $2,477.65 on Sunday to $1,277.29 on Monday, according to Coinmarketcap.com. WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it mattersMore From CNBC
• European politicians ‘need to be courageous’ to catch up with China on tech, investor says
• Regulating A.I. is a 'silly idea,' VMWare CEO says
• Reddit CEO says there is ‘misbehavior’ on website, but only among a ‘minority’ of users
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $4,590.30 (120.04 %). BUY B1.46 @ $5,000.00 (#VirCurex). SELL @ $5,794.40 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || Tiffany Haddishちゃんが || Bitcoin: Correction is possible. - $BTCUSD chart http://www.tradingview.com/chart/BTCUSD/GaS6aRvU-Bitcoin-Correction-is-possible/ … || I liked a @YouTube video http://youtu.be/Kk-KxCpiF0k?a Bitcoin to $1million?? My New Crypto Show: Episode 2 || Australian Craig Wright said to be #bitcoin inventor: BBC #Bitcoin http://dlvr.it/Q52XJX pic.twitter.com/I6dvpPBN4N || bitcoin priceってゆうか、 || bitcoin priceってゆうか、 || $4,889.00 BITMAIN ANTMINER S9 BITCOIN (BTC) SHA-256 13.5Th/s & APW3++ 1600W PSU IN HAnd #Cryptocurrency #Mining http://bit.ly/2nUznBL pic.twitter.com/iUwuIPSVkg || I added a video to a @YouTube playlist http://youtu.be/t3hJsFpPmXs?a Lecture 3 — Mechanics of Bitcoin || Bitcoin is 4 suckers
|
Trend: down || Prices: 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-07-03]
BTC Price: 11961.27, BTC RSI: 61.88
Gold Price: 1417.70, Gold RSI: 71.82
Oil Price: 57.34, Oil RSI: 51.48
[Random Sample of News (last 60 days)]
Bitfinex: NYAGs Order Is Hurting Our Customers and the Crypto Market: Bitfinexs customers might suffer if it cant access a line of credit from stablecoin issuer Tether, the exchanges attorneys argued Sunday. In a new filing, attorneys Jason Weinstein and Charles Michael of Steptoe and Johnson, and David Miller and Zoe Phillips of Morgan, Lewis and Bockius, outlined a number of arguments for why a preliminary injunction secured by the New York Attorney General at the end of April should be canceled or modified . Among them, the lawyers claimed the injunction would harm the startups customers, and in turn the market as a whole. They wrote: Bitfinexs Bitcoin Price Excluded from CoinMarketCap Average Calculation The balance of equities strongly favors Bitfinex and Tether, because a preliminary injunction would not protect anyone but would instead cause great disruption to Bitfinex and Tether ultimately to the detriment of market participants on whose behalf the Attorney General purports to be acting. Since the injunctions filing, Bitfinexs customers have withdrawn 30,000 bitcoin and 1 million ether at least, indicating that it had a significant impact on the exchange, the filing said. Already, the market capitalization of dozens of cryptocurrencies lost $10 billion within an hour after the order came out on April 24. The impact on USDT, the dollar-pegged cryptocurrency issued by Tether, has been much smaller, as Tethers still trade at par to this day, despite this proceeding, the filing states. Stepping back, the preliminary injunction, filed under a New York state law called the Martin Act, requires Bitfinex and Tether to turn over every document pertaining to a $625 million transfer and a subsequent $900 million line of credit Tether extended to Bitfinex after the latter lost access to $850 million held by its payment processor, Crypto Capital. Banking, Bitfinex and the Hidden Irony of Cryptos Newest Controversy The injunction also prevents Bitfinex from further drawing on the line of credit from Tether (prior to the injunction, the exchange had drawn down $700 million). Story continues Stuart Hoegner, general counsel to both Bitfinex and Tether which share key personnel and ownership wrote in a filing last week that the agreements were made to protect the broader cryptocurrency ecosystem, as Tether, and holders of tether, have a keen interest in ensuring that one of the dominant trading platforms of tethers has sufficient liquidity for normal operations. For its part, the NYAGs office says that the preliminary injunction doesnt prevent Bitfinex or Tether from conducting operations, and it needs greater clarity around the core issues in this case, referring to allegations that Bitfinex and Tether misled clients. The first public hearing in the case will take place this afternoon in Manhattan. Other useful purpose The preliminary injunction is also broader than the NYAG lets on, the companies attorneys claimed. While the NYAGs initial response said its injunction was narrow in scope and only prevented Bitfinex and Tether from tapping the latters reserves, Tethers attorneys say this has a far-reaching impact. For one thing, Bitfinex needs the liquidity for normal operations,' the filing claims. The exchange previously indicated that it was using Tethers funds to process its own customers withdrawals. Perhaps more notably, the filing indicated that Tethers reserves might be allocated to other uses, saying: This means that Tether must hold its $2.1 billion cash (and equivalent) reserves as is, without deploying those funds for any investment or other useful purpose, for the indefinite future. It is unclear what other purposes Tethers reserves might be used for. A spokesperson for the company did not immediately respond to a request for clarification. The filing also states that the Attorney General is attempting to dictate how two private companies may deal with one another, and deploy their funds, though as has been pointed out in the past, the same individual Giancarlo Devasini, who is Bitfinexs CFO and a director at Tether signed both companies agreements. No fraud Bitfinex and Tethers attorneys also argue that the NYAGs office does not have legal standing, as no fraud occurred. The Attorney General faults Bitfinex and Tether for (i) having failed to disclose the loss of over $850 million in connection with the Crypto Capital deposits, and of (ii) engaging in an undisclosed, conflicted transaction that their customers would find material,' the filing says, adding: Neither of these amounts to fraud. Moreover, Bitfinex and Tethers attorneys claim that the Martin Act only covers fraudulent conduct as it relates to securities or commodities, but the NYAGs office has not proven that tethers qualify as either. Rather than meaningfully addressing this basic problem of the Attorney Generals jurisdiction, the Attorney General states in a footnote that this is a fact-intensive question better left until another day, citing no evidence to support how tethers fall within the Martin Act, the filing says. Scott Andersen , a securities attorney who previously worked for the NYAGs office, told CoinDesk that what the [NYAG]s office wants to establish is that there are New Yorkers who could be hurt by [the startups actions.] New York wants to show that New York has a very real interest to protect New Yorkers, [and] unless the respondents can prove that New York doesnt have jurisdiction, they have to produce the records, he said. Read the full response below: 450545 2019 in the Matter of the I v in the Matter of the I MEMORANDUM of LAW I 62 by CoinDesk on Scribd Image via Shutterstock Related Stories Bitfinex Shareholder Starts Pre-orders for Exchange Tokens Public Sales Beware the Fake Bitfinex White Papers Appearing Online || The Crypto Daily – Are the Bulls about to Hit Back?: After some impressive gains last week, it’s been a bearish start to the week. With the exception of Binance, which managed to close out in the green on Monday, its been red across the board. While some of the reversal can be attributed to the latest SEC delay on pending Bitcoin ETF applications, profit taking is likely to have had more of an impact at the start of the week. Interestingly, market sensitivity to the pending SEC decision on the Bitcoin ETF applications has significantly diminished. The news wires and regulators, in general, have been more crypto friendly of late. Coupled with increased adoption, sentiment across the broader market has certainly improved since last year. This can be evidenced by a material increase in 24-hour volumes in recent months. 24-hour trading volumes have risen from $12bn levels back at the start of the year to $80bn levels this morning. An upward trend across the broader market has led to volumes easing back from a current year high $103.09bn hit on 16 th May. Supported by sidelined investors returning to the fold, the total crypto market cap has also seen a sizeable increase. Sitting shy of a current year high $262.11bn, a current total market cap of $244bn sits well above the start of a year $125.71bn. At the turn of the year, the need for the SEC to approve the pending Bitcoin ETFs was far greater than at present. Optimism over an eventual approval of at least a handful will continue to provide support to Bitcoin and the broader market, however. The prospects of a material inflow of institutional money would certainly be positive. An issue, however, could be the impact on inflows should Bitcoin have already broken through $10,000 levels. This Morning, Following the bearish start to the week, the majors are back in the red this morning. At the time of writing, leading the way down was Binance Coin, down by 3.78%. The early losses came off the back of a trend-bucking gain on Monday and a new swing hi $32.99 struck on Sunday. Story continues For the rest of the pack, while it has been a bearish morning, the majors have come off early lows. A bottoming out would be supportive of a possible recovery later in the day. For the Day Ahead, It’ll be all eyes on Bitcoin. A move back through to $8,000 levels later in the morning could signal a market rebound. The bulls could take the reins should the broader market see the losses ease going into the afternoon. As crypto volatility has picked up, the swings have certainly increased. The increased vol has given investors a greater incentive to jump back in on the rise. It may not be quite ready for the SEC, but the Bitcoin bulls will be looking for an entry price. An afternoon rally could be on the cards for the broader market if Bitcoin recovers to $8,000. Get Into Cryptocurrency Trading Today This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Fundamental Daily Forecast – Prices Retreat as Output Concerns Fade RBA Rate Cut Talk Pins Back the Aussie Dollar as Trade Remains in Focus NZD/USD Forex Technical Analysis – May 21, 2019 Forecast AUD/USD Forex Technical Analysis – May 21, 2019 Forecast Three Great Trading Setups. EURUSD, USDCHF and Gold Oil, Hot Stocks, and Currencies – Part III || Trading app Robinhood preps major funding round: Stock and crypto trading app Robinhood is looking to raise at least $200 million in a new funding round, Bloomberg reports. This would value the company at between $7 billion and $8 billion. The cash infusion is coming from existing investors, people familiar with the deal told Bloomberg. The funding talks are ongoing, but the companys valuation could climb to as much as $10 billion in a subsequent round. What is Robinhood? Lets start with the basics. Robinhood began as a trading app for Android and iOS in 2015 and now has a desktop version available. It allows traders to enter the stock market commission-free (so now you can see where the name comes in). Its founders say: We believe that the financial system should work for the rest of us, not just the wealthy. The app has been attracting Millennials since its inception, and its hardly surprising. Of all Millennial retail traders worldwide, some 72% of them describe themselves as self-directed. This means that they are confident in using trading tools and apps without going through a traditional broker. Trading on the app is free, but the bare-bones interface means that traders may need to complement it with other tools as well. A recent NerdWallet review gives the Robinhood app an impressive 4.5 out of 5 stars. However, they also stamp a disclaimer on top of the article reminding readers that Robinhood is a NerdWallet partner. Robinhood has been dealt a few blows recently too when it was discovered to be selling its customers data for millions of dollars to Wall Street trading firms. Somewhat ironic when you consider the messaging of the company about taking back power from traditional investment firms. Data scandals aside, the venture still boasts over four million users in the US, which means it must be doing something right. What is Robinhood Crypto? In January 2018, Robinhood announced that it would be making Robinhood Crypto available for its users in selected states. Just like the flagship app, this also offers commission-free trading. Story continues Starting out slowly, it was originally available in only a handful of states, including its native California, offering just Bitcoin (BTC) and Ethereum (ETH). However, the app has been gradually expanding support for other cryptos. Robinhood Crypto has now added Bitcoin Cash (BTC), Bitcoin SV (BSV), Ethereum Classic (ETC), Dogecoin (DOGE), and Litecoin (LTC). It is also now available in over 30 states. Already catering to a millennial base, Robinhood Crypto made perfect sense for its customers and had one million users sign up in the days following its launch announcement. Whats good about Robinhood Crypto? The main advantage is obvious commission-free trading. It doesnt get much better than free, after all. This is particularly appealing for low-volume, high-frequency traders, who often see a dent in profits from commissions elsewhere. Users also sing the praises of its simple interface and usability. Targeting such a mobile-heavy demographic, cryptocurrency trading straight from a smartphone reduces a lot of the steps and hassle of regular exchanges. The sign-up process (provided that you live in the right state) is simple and quick and you can verify your account in a matter of minutes, initiating a bank transfer in under an hour. Instant verification with many major banks also means users are spared from making micro-deposits. And if you want to make trades of less than $1,000, the process is almost instant. Larger transactions, however, can take several business days. Where does Robinhood Crypto fall short? Limited geographical reach aside, there are some major limitations to Robinhood Crypto that prevent it from being a threat to an exchange like Coinbase, for the time being at least. First of all, there is no way of withdrawing the crypto that the Robinhood app holds for you. Or, to put that another way, you can only sell crypto for fiat, not for other cryptos. Moreover, you cant use your Robinhood Crypto wallet to deposit any existing coins you may have. The app is also distinctly lacking when it comes to customer support. There is no one at the end of a phone to call when things go wrong and support can be slow, by email only. Is Robinhood Crypto hitting the target? The answer to that question is largely based on where you live and what your stance on double standards and data abuse is. Currently, theres just one major competitor in its app-only, commission-free crypto trading corner in the shape of Circle Invest . But backed by Goldman Sachs, its a pretty big one. While Robinhood Crypto is racing to add more states to its app, Circle Invest launched in March 2018 and is already available in 47 states. Only Minnesota, Wyoming, and Hawaii are out of their reach at the moment. Circle Invest also offers a wider range of cryptos. Add Zcash (ZEC), EOS (EOS), Monero (XMR), Stellar (XLM), Qtum (QTUM), 0X (ZRX), and Basic Attention Token (BAT) to the list. Wrapping it up Data scandals aside, Robinhood Crypto is a solid, safe bet for US crypto traders who want to trade commission free. Its a great chance for newer traders to get their feet wet in crypto in a safe way, and who arent looking for a large variety of cryptocurrency options. Thanks to its market experience in the traditional investment arena, its also a good choice for self-directed Millennial crypto investors who want to diversify their investment portfolios. The post Trading app Robinhood preps major funding round appeared first on Coin Rivet . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 28/05/19: Bitcoin Cash ABC gained 1.0% on Monday. Following on from a 6.73% rally from Sunday, Bitcoin Cash ABC ended the day at $439.61.
Another choppy day saw Bitcoin Cash ABC rise from a morning low $427 to a high $448.05 before easing back.
Bitcoin Cash ABC steered clear of the major support and resistance levels through the morning.
An early afternoon rally saw Bitcoin Cash ABC move to an intraday high and new swing hi $458 before hitting reverse.
Bitcoin Cash ABC broke through the first major resistance level at $449.90 before sliding to an intraday low $420.67.
Holding well above the first major support level at $400.38, Bitcoin Cash ABC found support late on to move back into positive territory.
At the time of writing, Bitcoin Cash ABC was up by 0.29% to $440.88. A mixed start to the day saw Bitcoin Cash ABC fall to a morning low $434.78 before recovering to a high $443.76.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a hold onto $440 levels would support a move back through to $450 levels later in the day.
Support from the broader market would give Bitcoin Cash ABC a run at Monday’s high $458 and first major resistance level at $458.18.
Barring a broad-based crypto rally, Bitcoin Cash ABC would likely be pinned back by the first major resistance level on the day.
Failure to hold onto $440 levels could see Bitcoin Cash ABC slide through the morning low $434.78 to sub-$430 levels.
Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC would likely steer clear of the first major support level at $420.85.
Litecoin rose by 3.54% on Monday. Following on from a 9.16% rally from Sunday, Litecoin ended the day at $116.50.
Bullish through the morning, Litecoin rallied from a morning low $111.15 to an early afternoon intraday high $122 before easing back.
The rally saw Litecoin break through the first major resistance level at $118.37 and 62% FIB of $121 before sliding to an intraday low $110.58.
While falling back through the 62% FIB of $121, Litecoin steered clear of the major support levels on the day.
At the time of writing, Litecoin was down by 0.58% to $115.82. Litecoin hit a morning low $114.86 and strike a morning high $118.21 within the first hour.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $116.40 levels would support another run at $120 levels later in the day.
Litecoin would need support from the broader markets, however, to take a run at Monday’s high $122 and the first major resistance level at $122.14.
Failure to move back through to $116.40 levels could see Litecoin fall deeper into the red before any recovery.
A pullback through the morning low to $113 levels would bring the first major support level at $110.72 into play.
Barring a broad-based crypto sell-off, Litecoin will likely steer well clear of the second major support level at $104.94.
Ripple’s XRP gained 6.46% on Monday. Following on from a 6.66% rise on Sunday, Ripple’s XRP ended the day at $0.43583.
A relatively range-bound morning saw Ripple’s XRP hover at around the 23.6% FIB of $0.4164. An early afternoon rally saw Ripple’s XRP hit an intraday high $0.44889.
The brief visit to $0.44 levels saw Ripple’s XRP break through the first major resistance level at $0.4264 and second major resistance level at $0.4435 before hitting reverse.
Ripple’s XRP managed to recover from a pullback to $0.41 levels to end the day at $0.43 levels.
At the time of writing, Ripple’s XRP was down by 0.61% to $0.43316. Tracking the broader market, Ripple’s XRP hit a morning high $0.44142 and low $0.42780 within the first hour.
In spite of a choppy start to the day, Ripple’s XRP left the major support and resistance levels untested.
For the day ahead, a hold above $0.4310 levels would support a recovery later in the day. A move back through to $0.44142 would give Ripple’s XRP a run at the first major resistance level at $0.4537.
Barring a broad-based crypto rebound, however, Ripple’s XRP will likely struggle to break out from the morning high.
Failure to hold above $0.4310 levels could see Ripple’s XRP struggle through the day. A fall back through the morning low $0.42780 would bring $0.41 levels into play before any recovery.
The 23.6% FIB of $0.4164 and first major support level at $0.4132 would likely limit the downside on the day. In the event of an extended sell-off, expect a return to $0.40 levels before any recovery.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Crude Oil Price Forecast – Oil markets choppy to kick off week || Brenna Sparks on cryptocurrencies, criticism, and her future: After rising to prominence in the cryptocurrency scene in 2017 and 2018, Brenna Sparks is now one of the most influential people in the industry. With a wide audience spanning different markets, the adult movie star is striving to promote self-sovereignty through the decentralisation that cryptocurrencies can encourage. Coin Rivet recently had the chance to chat with Brenna about her role with SpankChain, her controversial pick as an influencer, and her views on cryptocurrencies in general. Youre an advisor for SpankChain, what are its goals? The goal is to create a dedicated ecosystem for the adult industry, free from censorship and free from discrimination. Can you explain why you believe SpankChain is an important project? For those not in the know, can you explain the issues currently within the adult industry and how projects like SpankChain can help? Right now, there is a lot of discrimination against adult workers, and its only getting worse with the policies that are being pushed at the government level. The banks do not care about you. The government doesnt care about you. Youre essentially on your own. Whenever such tyrannical behaviour makes an appearance, the only way to defeat it is with technology, and that technology to defeat it is what SpankChain is focused on building. Were not interested in sitting around waiting for people to make up their minds, nor are we interested in wasting our time picketing. The ones that understand this are out there, building a new path that goes around the current mess, and it isnt only limited to the adult industry. Have you noticed other industry workers getting involved or has the uptake been slow? The industry is very quick to recognise the importance of cryptocurrencies. Its not difficult for them to see the solution, unlike the average citizen. What was the first cryptocurrency you bought? You were a fan of the Silk Road if rumours are to be believed. Bitcoin was the very first cryptocurrency. And I was a fan of the Silk Road . It was very useful for people who didnt have a dedicated weed dealer. Story continues Has getting involved in cryptocurrencies changed your outlook politically or economically? Very much. Ive become a lot more libertarian. As far as economics goes, I follow the Chicago school of thought. What does your involvement in cryptocurrencies look like? Do you trade and code or buy and hold? I trade here and there. I dont waste my efforts on technical analysis and prefer to focus on fundamentals. I hate owning a lot of coins and prefer to put my money towards coins I really believe in. Of course, I will gamble a bit here and there for fun. brenna sparks 2 Youve recently started coding, did this interest arise from cryptocurrencies? Is this something youre looking to get into after your porn career is over? I think getting into crypto has got me close with many developers and has definitely sparked some real interest. Its too soon to tell if I will do it long term, but so far Im really enjoying it and learning about concepts I have never ever thought about before, as well as concepts that used to confuse me. The feeling of getting smarter seems to be enough motivation. Ive always liked the idea of being a nerd, so its likely I will be a giant nerd of something one day
maybe coding, or maybe something else. A nerd nonetheless. What other industries do you anticipate cryptocurrencies will disrupt other than the adult industry? I know this sounds a bit crude, but everything. We are talking about currency here, and there isnt much stuff in this world that money doesnt intersect in one way or another. Even the very nature of governance is changing with the advent of cryptocurrencies. Real estate, retirement, insurance, health care, company funding, employment, banking, diplomacy, war, you name it its all being re-evaluated. Nothing will remain the same. Were truly experiencing something that has never existed in the world before, something that effects every human on the planet. Youve mentioned before that you fancy being a venture capitalist one day. Will cryptocurrencies help achieve these goals? And if so, what kind of industries would you like to invest in? It was something that I played with, but if crypto gets to where I believe it will, I actually think VCs will become obsolete. Why on Earth would anyone want to give up portions of their company in exchange for money when they can fund it without giving up any percentage? One very special thing that nobody seems to talk about is just how much collective support companies get in this space. I believe the future of companies will be very cult-like, where they have large followings that will assist in funding and any other additional support. The role of VCs will be a lot less noticeable than it is today. This is just my guess. As for the industries Im interested in, Im most interested in the gaming industry. I think that space will have a huge positive impact and is still full of opportunity. A couple of projects that Im watching closely right now are Enjin, Decentraland, and Theta. I also have some interest in VR, AI, and fog computing. Has there been a particular highlight that has stood out since entering the world of cryptocurrencies? The amount of money you can make (and lose) in this space never seems to have an end. A person has never experienced an emotional roller coaster until theyve sat in this industry for at least two years. CoinDesk nominated you as one of the most influential people in the industry for 2018. What was your reaction to that? How did you deal with the criticism that came your way from the nomination? I was surprised and humbled. I really dont think I deserve it, but hey! I dont get to decide this. Im very blessed for it, and it has brought me nothing but opportunities since. The criticisms were expected. It went a bit overboard when people began mobbing me and actually changed some deep philosophical views I had on free speech. After experiencing mobbing, my belief in free speech was damaged pretty badly, and there is very little holding it up today. Now, I find it difficult to justify. Its not okay to group up and hurt people in the name of free speech. That was a very big change on me for sure, and it didnt come from reading a book or anything, but simply from experiencing the hurtful actions of strangers. What does the rest of 2019 and 2020 hold for Brenna Sparks? Networking! These next two years are all about networking for me. I want to develop great friendships and partnerships. Ive gotten my recognition, and now I want to push it to the next level and start working with others. The post Brenna Sparks on cryptocurrencies, criticism, and her future appeared first on Coin Rivet . || GLOBAL MARKETS-Stocks, yuan fall as Sino-U.S.trade war deepens; China retaliation eyed: * US prepares to raise tariffs on all remaining imports from China
* China defiant, Trump-Xi talks seen likely at G20 summit in June
* Yuan at 4-month lows; Bitcoin jumps to 9-month highs
* Asian stock markets:https://tmsnrt.rs/2zpUAr4
* European stocks set to open mixed
By Tomo Uetake and Wayne Cole
SYDNEY, May 13 (Reuters) - U.S. stock futures and Asian shares fell on Monday on growing anxiety over whether the United States and China will be able to salvage a trade deal, after Washington sharply hiked tariffs and Beijing vowed to retaliate.
The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit" that harmed its interests.
Investors are bracing for threatened "counter-measures" from China in retaliation for Washington's tariff increase on Friday on $200 billion worth of Chinese goods. The move followed accusations by U.S. President Donald Trump that Beijing "broke the deal" by reneging on earlier commitments.
U.S. stock futures, the S&P 500 e-minis, shed 1.1%.
In early European trade, FTSE futures stood almost flat at 7,173, German DAX futures were down 0.1 percent at 12,069.5 and France's CAC 40 futures were up 0.2 percent at 5,332.5.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.7%, nearing its two-month low marked on Thursday.
Chinese shares tumbled, with the benchmark Shanghai Composite and the blue-chip CSI 300 shedding 1.3% and 1.8%, respectively, while Hong Kong's financial markets were closed for a holiday.
Japan's Nikkei average sunk as much as 1.0% to hit its lowest level since March 28, before it closed down 0.7%.
U.S. benchmark 10-year Treasury note yields inched down to 2.439%, partly as a safe haven but also on speculation that the escalating trade war would put more pressure on global growth and thus keep major central banks accommodative.
"We not expect China to sell U.S. Treasuries," ING said. This is a tool China will save as a last resort, and it may not even be used in the unlikely event of a breakdown in trade negotiations."
White House economic adviser Larry Kudlow told a Fox News program that China needs to agree to "very strong" enforcement provisions for an eventual deal and said the sticking point was Beijing's reluctance to put into law changes that had been agreed upon.
Kudlow said the U.S. tariffs would remain in place while negotiations continue and there is a "strong possibility" that Trump will meet Chinese President Xi Jinping at a G20 summit in Japan in late June.
"Our base case remains that a trade deal between the United States and China is likely. But news flow today suggests this could take more time and is unlikely to be concluded until late June," said John Woods, Hong Kong-based chief investment officer of APAC at Credit Suisse AG.
Others were more pessimistic, noting Washington said it was preparing to raise tariffs on all remaining imports from China, worth approximately $300 billion.
"Our base case is for limited progress and Chinese retaliation. We see a significant risk for all Chinese imports to be subject to tariffs over the next month or so," said Michael Hanson, head of global macro strategy at TD Securities.
"The market reaction will ultimately depend on whether China and the U.S. continue to negotiate, whether the remaining $325 billion of U.S. imports from China also get tariffed, how China retaliates, and what happens to the (section) 232 auto tariffs."
Under that scenario, the renminbi was likely to fall between 5%-6% against the U.S. dollar in the coming three months, said Hanson, as a shock absorber to the economic impact of heavier tariffs.
The offshore Chinese yuan fell to its lowest levels in more than four months at 6.88 to the dollar. It last stood down 0.6% at 6.86 per dollar.
Major currencies were relatively calm, with the safe-haven yen still supported but not aggressively so. The dollar was holding at 109.74 yen, down 0.2% on the day and just above a 14-week trough of 109.46.
The euro was steady at $1.1234, while the dollar was little changed against a basket of currencies at 97.312.
"If there is a lack of progress (in the U.S.-China talks) over the coming weeks, Asian currencies will come under further pressure," noted Khoon Goh, head of Asia research at ANZ Research, while adding that his team does not expect the yuan will break the psychological 7 perdollar level.
"While we hope for the best, our baseline case is now for the United States and China to fail to reach a deal, meaning tariffs will get raised on the remainder of Chinese exports to the United States."
In commodity markets, oil prices rose but remained a relatively tight range, with the U.S. crude futures were last up 0.1% at $61.73 a barrel, while Brent crude futures gained 0.5 percent at $71.00.
On the other hand, digital currencies maintained most of their big gains made over the weekend.
Bitcoin jumped more than 10 percent on Saturday and marked its nine-month high of $7,585.00 on Sunday before paring the gains. It last quoted at $7063.52, up 1.2% on the day.
(Reporting by Tomo Uetake and Wayne Cole; Editing by Kim Coghill) || John McAfee Bashes Bitcoin and Ethereum but Touts ‘Adorable’ Dogecoin: ByCCN:John McAfeeis famous for predicting that the bitcoin price will hit $1,000,000 at some point or he’ll eat his own appendage. What you might not know is that he dislikes Ethereum and doesn’t even care that much for BTC, either. Yes, the reason is as silly as you might have hoped. Meanwhile, similar to Tesla CEOElon Musk, McAfee has a soft spot for meme-fueled cryptocurrencyDogecoin.
He’s got a point. Ethereum is a mouthful. His methodology also brings bitcoin into his crosshairs, and it turns out despite his bullish attitude for the price, McAfee has always been a Doge man.
If we analyze this extremely complex methodology, certain truths arise. Buterin is certainly a slender man and as it turns out on occasion fits the profile of dressing oddly.
I’m not sure we need much more proof than that photo to understand John McAfee’s concerns. It is refreshing to see the tech provocateur giving us some meaningful insight like this. After theSatoshi Nakamotostoryline fizzled out, things had been a little dull on planet McAfee.
Read the full story on CCN.com. || How the Deficit Will Reach $40 Trillion: This article was originally published on ETFTrends.com. By Harry Dent via Iris.xyz Smart people are worried about our deficit. They should be. Never mind the chaos around the world (like mass shootings, terrorist bombings, Armageddon marches, etc. ad infinitum), it was recently reported that Christine Lagarde, the managing director of the IMF, is “doubly concerned” about the level of global debt. She was speaking at the Milken Institute Global Conference last week, where she explained why excessive debt is going to become a serious problem for developed and developing countries alike . In case you’re wondering – I had to look it up – the Milken Institute is a research driven, non-partisan think tank that develops policy initiatives aimed at increasing economic growth to improve the standard of living for people across the globe. I assure you. The levels of global and U.S. debt are way beyond concerning. They’re also way beyond being repayable. Doubling down… Did you know that our very own Federal debt has been doubling about every two administrations, or every eight years? It went from about $5 trillion to $10 trillion under President Bush’s two terms… from $10 trillion to $20 trillion under President Obama… At this rate, the $20 trillion debt that Trump walked into when inaugurated in early 2017 could be close to $40 trillion in early 2025, when his second term is up (if he survives in the White House through the crash of a lifetime, that is). We’re well on the way too. Our Federal debt is already up $1.5 trillion in the last two years, and these are supposed to be the “good times.” When the shit hits the fan early in 2020, that number is going to explode into the stratosphere. That’s what happens to deficits during bad times. They increased 122% (more than double), in the aftermath of 2008. 2020 will be infinitely worse, so debt growth will respond accordingly. This first chart gives us an idea of what this looks like… Look at how much more the total deficit was from the operating deficit in 2008. The total Federal deficit was 122% more than the operating budget deficit that year. That’s what happens when you suddenly get a deep recession. Now imagine what that number could look like when a depression like the early 1930s sets in. That’s what I expect we’ll see at the end of this Dark Window. Story continues Click here to read more on Iris. 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 Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF? So Many Retirement Idiots Columbia Threadneedle Makes Changes to its ETF Line Up Walmart Looks Into Expanding Home Office To Attract Talent President Trump Weighs Whether Or Not To Go To War With Iran READ MORE AT ETFTRENDS.COM > || The number of worldwide crypto ATMs breaks 5,000: In yet another positive sign forbitcoin, the number ofcryptocurrencyATMs available across the planet has just hit a significant milestone.
There are now more than5,000crypto ATMs across 76 countries, according to the latest figures fromCoinATMRadar.
In the last two months, more than 6 new crypto ATMs have been installed each day around the world. The U.S., of course, makes up a significant share with 3,170 bitcoin ATMs, with the vast majority located in the New York and Los Angeles areas.
Elsewhere, Canada has 680, Austria has 263, and the U.K. ranks fourth with 244. And while some nations might only have a single crypto ATM within its borders, such as Albania, Aruba, Kenya, the Philippines, and Zimbabwe to name a few, the fact that they have one at all demonstrates the demand and growth of the market.
Ian Freeman, co-founder of the Bitcoin Embassy New Hampshire and host of the radio show Free Talk Live, sees these machines as one of the easiest and most convenient ways for people toget into cryptofor the first time.
“Sure, people can sign up for an exchange and send a wire transfer and get a better price, but the know-your-customer requirements are a burden and the process to get started is long and frustrating,” said Freeman. “Crypto vending machines [a term used in Keene rather than ATMs] make it simple.”
Keene, New Hampshire, where Freeman resides, currently hosts a trio of crypto ATMs, the same number as currently installed in Tokyo—a city with a population of 9.3 million, compared to Keene’s 23,000.
The recent increase in crypto ATMs also reflects the larger trend inpayments increasingly turning to digital, and the focus in this industry turning away from cash towards mobile, said Kurt Looyens, CEO of the Gibraltar Blockchain Exchange.
Looyens believes, however, that more needs to be done in order for these machines to remain attractive to consumers.
“The current economy in some countries may facilitate the need for cash-backed facilities like bitcoin ATMs, but in the digital future, these devices will have to drastically reduce fees and offer equitable conversion rates in order to compete,” he said.
In the meantime, though, the pace at which these machines are being installed worldwide doesn’t appear to be slowing down. And with new crypto enthusiasts looking for ways to enter the market, the timing couldn’t be better. || Craig Wright's Bitcoin SV is a 'Total Ghost Town': Analyst: Citing data that demonstrates that over 86% of allBitcoin SVvolume originated from just 100 transactions, analyst Kevin Rooke told Twitter that Craig Wright's petcryptoproject is a “total ghost town.”
Indeed, the stated purpose of the Bitcoin SV fork is tohave the capacity for millions of transactions, making the base layer of the cryptocurrency to be competitive with the likes of Visa or Mastercard. This the reason Bitcoin SV developers want blocks that arepotentially gigabytes in sizeand argue that big data centers should be able to handle the traffic.
While it may be true that big data centers can handle the transaction volume, people immediately become concerned about the centralization that comes with such a barrier to entry.
Inevitably, it requires a lot of money to run a mining outfit that has to handle potentially thousands of gigabytes per week. You then have to serve them out, which requires even more bandwidth. Nevermind getting synced up with the network in the first place.
Read the full story on CCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
@ceredigionman @NASA Binance experts say that BTC is alive again . I found premium group with market predictions . And it is free for one week !
Look --> https://t.co/sSBjUoDAMu
⭕ 223834917 || #tiproom #tiproomgames #cryptocurrency || @l3l2ucelee @preadyplayerone Yes, XRP uses a different DLT technology.
The XRP ledger doesn’t just string together measly blocks like BTC or LTC. It’s better than that.
XRP strings together entire ledgers, every 4 seconds.
And just like a blockchain these ledger connections use cryptography and hashes. || Bitcoin:$11256.509107
Ethereum:$309.522304184
Bitcoin Cash:$467.880885636
Litecoin:$132.138366258
XRP:$0.461134782
IOTA:$0.4449434079 || May-2019 Will be Significant for Bitcoin, Record BTC Volumes Traded on May-12 https://t.co/gg3tF2OcCp #bitcoin #crypto #blockchain #btc #news https://t.co/IQxjPunJX5 #eth #ltc #xrp || Hyperwave – Bitcoin Bottom? Gold Top? S&P Rally? − 稼げる投資系口コミ情報サイト【Trade Center】 https://t.co/bEdeWFh1Ef || Win 10 #BTC every 10 minutes through a special script
Link : https://t.co/e7UwLXs0y2
.
.
Buy 🔥🔥🔥: https://t.co/3ECIj7KmTU
@LazanaYeet @KotarbaBenjamin @Maheshchikhale9 @BobLosn @KarimMariko4 @MozesSzabo
PJG || Senior Email #Developer - Phoenix Technology Partners, LLC - [ ➡ https://t.co/jAVMgO3JJq ] #AI #AiJobs #ArtificialIntelligence #jobs #Hiring #Careers #Cryptocurrency #Blockchain #BTC #BitCoin #ETH #crypto https://t.co/k7QKTlFswF || @GabrielOmene Eu deveria ter comprado Bitcoin em 2012 viu... Se fuder essa moeda aqui... || RIDING A 50X WAVE BITCHES! #BITCOIN $BTC
|
Trend: up || Prices: 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-07-07]
BTC Price: 9252.28, BTC RSI: 49.19
Gold Price: 1804.20, Gold RSI: 65.97
Oil Price: 40.62, Oil RSI: 62.40
[Random Sample of News (last 60 days)]
Replay Available: Off the Chain Capital Hosts “Turbulent Times: Why Add Bitcoin to Your Portfolio Now”: IPO Edge,in partnership withOff the Chain Capital, LLC,a digital currency & blockchain asset investment manager andThe Palm Beach Hedge Fund Association, a Florida trade association for financial professionals, hosted a Webinar and audience Q&A on Tuesday, May 26 at 4pm EST –Turbulent Times: Why Add Bitcoin to Your Portfolio Now.
To watch a replay of the Webinar, pleaseCLICK HERE
The Webinar featured 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 discussed:
• 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
• The best ways to add bitcoin to a portfolio
• How to keep bitcoin investments secure
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.
Note: This Webinar is intended for informational purposes only and not to solicit any specific investment.
IPO Edge Contact:
John Jannarone, Editor-in-Chief
[email protected]
www.IPO-Edge.com
[email protected]
Twitter:@IPOEdge
Instagram:@IPOEdge || Novogratz: Galaxy Digital Will ‘Suck’ if Bitcoin Fails to Become an Institutional Asset: With Galaxy Digital now working on an educational course for financial advisers, founder Mike Novogratz told CoinDesk he hopes it will help finally kick-start the institutional use of bitcoin, and turn around the asset manager’s fortunes.
Novogratz, a Wall Street veteran, loves a compelling narrative. “Bitcoinspecifically is a story about adoption,” he said a few minutes into our call. “And the next big group that’s going to adopt bitcoin as a store of value, as a digital gold, are the financial advisers.”
Earlier this week, Galaxy Digitalannouncedit had partnered with the educational arm of CAIS, a financial product platform that specializes in connecting institutional investors – financial advisers, hedge funds, private equity – to alternative investments and products.
Related:Binance Launching Crypto Exchange in the UK
The tie-up will see Galaxy provide educational content about crypto to wealth managers and financial advisors. Although the course will offer material on the broader digital asset space, as well as on the emerging market infrastructure, it will revolve around bitcoin.
It’s a “really sweet partnership,” Novogratz said. Galaxy can make bitcoin’s investment case directly to the strata of society that controls most of the country’s wealth. “CAIS is spectacularly situated to help us educate them and then connect with them to sell our products.”
See also:Galaxy’s Novogratz: XRP Will ‘Underperform Immensely Again This Year’
Indeed, going back to the narrative, Novogratz has long believed institutional involvement was the natural next step for crypto. While it may have started out as a “retail-driven, people’s revolution,” he predicted institutions would always get involved as the asset class grew in size.
Related:Custody Battle Pits Institutional Boomers Against Crypto Upstarts
Novogratz saw a gap. As a crypto merchant bank, Galaxy offers clients asset management and advisory services; it uses its own capital to trade and invest in the space. It would become the bridge, allowing traditional capital to flow into the nascent crypto space.
While Galaxy got off to a flying start, such as ahigh-profile investmentinto Block.one, the bank’s performance over the past two years has been anything but spectacular.
My mom told me money doesn’t grow on trees, and right now it’s growing on trees.
In fact, Galaxy has failed to turn a profit since its launch: it lost awhopping $272.7 millionin its first full year of operation. Itrode the market reboundin the summer of 2019, but stilllost $97 millionin Q4 2019. Losses stemming from the its trading arm have wiped out its other revenue streams. A pear-shaped investment into WAX, a gaming token, for example, lost the firm as much as $47 million
In order to keep itself going, Galaxy has beenforced to shrinkits workforce by 15%. But it may not be out of the woods yet. Thebank warnedearlier this year that the coronavirus outbreak would likely contribute to a further hit to revenue.
Novogratz is confident, however, that institutions can help turn his company’s fortunes around. It has taken longer than expected, he admits, but says he has this “intuition” that there’s “going to be a big [institutional] take up in the next six to 24 months.”
See also:Binance Launching Crypto Exchange in the UK
What makes him so sure? It’s all about the narrative, he said.
“We would not be having this conversation if, you know, [the U.S.] budget deficit was going from 4% to 2% and everything looked hunky-dory,” he said. “In one week after the coronavirus crisis started, the [Federal Reserve] did more QE than it did in the entire 2008-2009 episode.”
“My mom told me money doesn’t grow on trees, and right now it’s growing on trees,” he said.
Novogratz belongs to the school of thought that sees bitcoin ultimately becoming the digital equivalent to gold: a store of value, uncorrelated to the traditional markets. As such, this darkening macro backdrop is “fantastic” for the story of bitcoin.
The smart money is buying bitcoin as a macro hedge, Novogratz said. Paul Tudor Jones, he says, is a perfect example of a well-known figure from the traditional space, who has seen the narrative and hasbegun allocating bitcointo his fund. And that could open the flood gates for other institutions.
Indeed, it does feel like institutional investors are getting more interested in bitcoin. Last Month,Fidelity foundthat 80% of those surveyed found the asset class appealing. The likes of Coinbase, Gemini and BitGo areracing to launchprime brokerages for an institutional crowd.
“The drumbeat from the financial advisory committee on wanting to learn more about bitcoin and blockchain has been increasing,” said Matt Brown, founder and CEO of CAIS.
See also:Bakkt, Galaxy Digital to Offer Bitcoin Trading, Custody Solution for Institutions
Which brings us back to why Galaxy is getting involved in CAIS. Novogratz said most of the content they plan to use had already been developed over the past three years. It had been collecting dust till last week. When they had tried to publish it before, institutions simply weren’t interested.
Novogratz says now is the perfect opportunity to use his course to proselytize about bitcoin and drive home the narrative that bitcoin is the new gold. “This education piece is selling the story,” getting institutional investors comfortable with the asset so they’ll potentially encourage other institutions to do the same, he said.
Crucially, it will also provide Galaxy with the opportunity to connect with thousands of financial advisors who, between them, control more than a trillion dollars in wealth.
Looking back, Novogratz realizes Galaxy Digital, as a bridge for institutions into crypto, came too early. “Quite frankly,” he said, “the consumer business was the easier play.” Even now, businesses such as exchanges, wallets, and platform providers, which cater for a retail audience, are, in his mind, still performing best in crypto.
But by talking to investors about the “bitcoin story,” Novogratz wants to be a key part of a sea change. His partnership with CAIS, he said, could be the “first big leg of more traditional capital coming into the space.”
“It’s taken longer to get there than I thought it would, but it feels like we’re finally through the starting line and starting to gain some pace.”
See also:Custody Battle Pits Institutional Boomers Against Crypto Upstarts
But, CoinDesk asked, what happens if bitcoin doesn’t become this great institutional asset? If, after educating financial firms about crypto for a whole year, few roll their sleeves up and get involved?
“If very few hedge funds get into the space, then my company’s going to suck,” Novogratz said. Galaxy can keep investing in businesses and trading crypto, “but the real core of what we’re trying to is build this connectivity to institutions. If they don’t come, you know, we’re a little shit out of luck.”
• Novogratz: Galaxy Digital Will ‘Suck’ if Bitcoin Fails to Become an Institutional Asset
• Novogratz: Galaxy Digital Will ‘Suck’ if Bitcoin Fails to Become an Institutional Asset || The Blockchain Investment Institution Everestco Issues EHG Ventures Fund I Based on the Crypto currency Partially Funded Investment Strategy: NEW YORK, NY / ACCESSWIRE / May 21, 2020 /The blockchain investment institution Everestco has issued EHG Ventures Fund I based on the crypto currency partially funded investment strategy. The fund focuses on capturing market beta coefficient to ensure stable returns in both booming and depressed market conditions. The new fund is expected to reach US $40 million, 80% of which have been subscribed, which is used to implement the full-time strategy of investment tools such as Bitcoin, Ethereum and other mainstream currencies for fixed income and quantitative trading. Everestco said that the fund's main focus is to use a variety of data points, including big data, artificial intelligence and artificial data analysis, to understand and forecast the macro market cycle and allocate assets accordingly.
Everestco is headquartered in the 11/F Crawford House, 70 Queen's Road Central, Central, Hong Kong.Everestco is a comprehensive financial service organization. Its services include precious metal trading, crypto currency trading, financial consulting, entertainment and cultural undertakings and charity services.
In addition to continuing to focus on the cultivation of employees, the development of talents and the pursuit of pragmatic innovation, the maintenance of business ability is also not to be ignored. In this generation, the impact of business on the environment and society is often taken into account when the public comments on the business. At the same time, the group is also committed to investing in new businesses that will contribute to the environmental revolution in the future. We have made preliminary development in relevant fields. Of course, all of these depend on the dedication and professional ability of Everestco employees, so that the group can face the future positively and optimistically.
In order to further improve the service quality for individual customers, enterprises and institutional customers, we have strengthened the optimization of financial services, and provided professional advisory and discretionary portfolio services to customers. In the future, we will strive to develop more innovative products and implement the commitment of providing excellent services. In the face of the emerging challenges in the market, we will strive to improve our business expertise. In the future, we will, as always, continue to strive to maintain a friendly partnership with customers and wholeheartedly provide quality services.
Media Contact
Jia He
[email protected]
Phone:800-86504646
SOURCE:Everestco
View source version on accesswire.com:https://www.accesswire.com/590868/The-Blockchain-Investment-Institution-Everestco-Issues-EHG-Ventures-Fund-I-Based-on-the-Crypto-currency-Partially-Funded-Investment-Strategy || The Crypto Daily – Movers and Shakers -30/05/20: Bitcoin fell by 1.68% on Friday. Partially reversing a 4.11% rally from Thursday, Bitcoin ended the day at $9,426.1.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $9,618.8 before hitting reverse.
Falling short of the first major resistance level at $9,773.67, Bitcoin fell to a mid-afternoon intraday low $9,352.0.
Steering clear of the first major support level at $9,261.57, Bitcoin recovered to $9,400 levels to limit the loss.
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 the 62% FIB of $10,034 to form a near-term bullish trend.
Across the rest of the majors, it was a mixed day for the majors on Friday.
Ethereum and Tezos bucked the trend on the day, with gains of 0.10% and 1.32% respectively.
It was a bearish day for the rest of the pack, however.
Stellar’s Lumen and Monero’s XMR fell by 2.20% and by 1.96% respectively to lead the way down.
Bitcoin Cash SV (-1.28%), Ripple’s XRP (-1.57%), and Tron’s TRX (-1.08%) weren’t far behind.
Binance Coin (-0.53%), Bitcoin Cash ABC (-0.84%), Cardano’s ADA (-0.52%), EOS (-0.02%), and Litecoin (-0.63%) saw relatively modest losses.
In the current week, the crypto total market cap fell to an early Monday low $238.04bn before rising to an early Friday high $263.53bn. At the time of writing, the total market cap stood at $258.16bn.
Bitcoin’s dominance fell to a Monday low 66.38% before Thursday 69.54% spike. At the time of writing, Bitcoin’s dominance stood at 66.99%.
At the time of writing, Bitcoin was down by 0.44% to $9,384.6. A bearish start to the day saw Bitcoin fall from an early morning high $9,430.3 to a low $9,366.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Tron’s TRX bucked the trend at the time of writing, with a 0.09% gain.
It was a bearish start to the day for the rest of the pack, however, which joined Bitcoin in the red.
Tezos led the way early on, with a 0.99% loss.
Bitcoin would need to move through to $9,470 levels to bring the first major resistance level at $9,579.27 into play.
Support from the broader market would be needed, however, for Bitcoin to break back through to $9,500 levels.
Barring a broad-based crypto rebound, resistance at $9,500 would likely leave Bitcoin short of the first major resistance level.
In the event of another extended crypto rally, the second major resistance level at $9,732.43 would likely come into play.
Failure to move through to $9,470 levels could see Bitcoin fall deeper into the red.
A fall back through the morning low $9,366.0 would bring the first major support level at $9,312.47 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major support level at $9,198.83.
Thisarticlewas originally posted on FX Empire
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• European Equities: A Month in Review – May 2020 || Deribit prepares for historic $1 billion options expiry next week: Next week will be historic for the fast-growing cryptocurrency derivatives market with a record $1 billion worth of bitcoin and ethereum options expiring on Deribit. In options trading, traders can make bets on contracts that expire in different months. Bitcoin options expiring in June make up the biggest portion of Deribit's open interest with 69% of such contracts set to expire during the course of the month, according to data pulled from Skew on Tuesday. On June 26, more than 70,000 contracts will expire. More than 290,000 ethereum options are set to expire on the same day. Such a large expiry event could result in outsized market volatility as traders unwind their positions. Many other traders, however, will likely just roll their contracts to the next month. Ahead of next week, Deribit has raised the BTC margin requirement for certain clients. Such a move could reduce risk by making it more expensive for traders to roll over. "It's smart to raise margin requirements," an industry insider said. "Deribit is reducing risk but it will force some people out of the market." Deribit will keep an eye on the market's volatility and could adjust margin requirements depending on what happens, a representative of the firm told The Block. Anand Gomes, CEO of trading messaging platform Paradigm, said its unclear if there will be significant volatility, but said there will likely be a lot of options trading ahead of June 26. Source: Skew, The Block The options market for cryptocurrencies has been on a tear since markets bottomed in March. Total open interest — the number of contracts outstanding — in Deribit's bitcoin options market hit $1.2 billion during Thursday's trade, while the total open interest for the market stands close to $2 billion, according to Skew . Deribit commands a 70% marketshare, in terms of notional open interest. Source: Skew, The Block In a sense, the cryptocurrency market is following the lead of traditional markets. As Financial Times' journalist Robin Wigglesworth noted in a tweet , a large number of options in equities are expiring Friday. Story continues According to Goldman Sachs, June 19 is the third largest non-December expiration of SPY options on record. Source: Robin Wigglesworth © 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. || Crypto Long & Short: What Changed My Mind About Bitcoin Narratives: One of the things I most enjoy about working in the crypto sector (apart from my awesome colleagues and the constant flow of fascinating change) is the level of debate. I’m not being sarcastic. There are many takes I strongly disagree with, but when they are put forward by people with rational and inquisitive minds (which can be most of the time, depending on your Twitter filters), the engagement invariably ends up enriching my own opinion. And, sometimes, bouncing someone else’s conviction off yours opens your eyes to nuances you hadn’t seen. Who knows? Entertaining conflicting points might actually change minds. Now, when you take two intelligent opinions that you don’t agree with, throw them together with yours and stir them up a bit, magic can do its uncomfortable thing. That happened to me this week. Related: Liquidity on Bitcoin Perpetuals Exchange FTX Catches Up to Industry Leader BitMEX You’re reading Crypto Long & Short , a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view. You can subscribe here . Many of you will already have seen Bloomberg commentator Joe Weisenthal’s list of six reasons why bitcoin has not had a great year. To recap, they were a lack of new highs, its new correlation with the S&P 500, disappointingly resilient fiat currencies and inflation levels, and a new competitor for the volatility trade in the form of stocks. Of course, there were many reactions. One of the best responses I’ve seen was from Nathaniel Whittemore, who stressed the progress made in institutional uptake, growth in emerging market demand and bitcoin’s endurance. Another was from Messari’s Ryan Selkis, who objected to Joe’s interpretation of bitcoin narratives and timeframes. I expand on some of my objections further down. Story continues A different angle The other analysis I disagreed with this week was from JPMorgan, although their take was almost the opposite of Joe’s. Related: Bitcoin News Roundup for June 22, 2020 A report shared with the investment bank’s clients and seen by CoinDesk boldly stated bitcoin has had a good year so far, highlighting that, even through the market turmoil in March, the cryptocurrency only briefly dipped below its cost of production. It also points out that liquidity in bitcoin markets was more resilient than in other more traditional markets. The analysis concludes that this points to a long and happy life for bitcoin, but more as a vehicle of speculation than as a store of value. So, here we have Joe hinting bitcoin has had a disappointing first half because it didn’t have spectacular price moves relative to other asset groups, and JPMorgan inferring it’s had an unexpectedly good first half for the same reason. In my opinion, they are both missing the point. But my disagreement with them changed my mind about something. Common factors Both JPMorgan and Joe seem to assume there is a clear narrative around bitcoin’s value. JPMorgan equates bitcoin’s intrinsic value with its mining costs, although this is difficult to reliably calculate and reflects only a small part of the ecosystem. What’s more, mining costs could come down in line with lower energy prices, which does not mean bitcoin’s intrinsic value will come down if we rely on the “what an asset is worth” definition of the term. The analysts also infer that bitcoin’s current correlation with the S&P 500 represents the breakdown of its store of value potential, which overlooks the nature of backward-looking short-term calculations. Joe understands bitcoin’s fundamental value is hard to quantify, and focuses on price as the principal metric that both shapes and is shaped by narratives. He assumes we have been waiting for specific triggers to drive up the price, that they have not materialized and therefore our narratives are wrong and bitcoin is not doing well. Both Joe and JPMorgan seem to believe the overriding narrative for bitcoin today is that of speculative asset. This is a valid viewpoint, but not one that I share – for me, bitcoin is a technology play that will change the meaning of markets. I also don’t buy into Joe’s focus on price, and his assumption the market as a whole expects sharp movements based on certain catalysts. And I’m not convinced by JPMorgan’s conclusion that recent price action points to bitcoin’s continued use as a speculative asset – this week CoinDesk reported more than 60% of bitcoin held in wallets has not moved in over a year. Thinking about why I disagreed, however, made me realize something I have been overlooking. I have always regarded bitcoin’s lack of a clear narrative as a strength. I was wrong – it is both a strength and a weakness. The plus and the minus It’s a strength in that the story is still unfolding. Bitcoin’s main use case is yet to be determined. Many see it as a store of value, in that it has no explicit economic drivers other than a limited supply. Others see it as a speculative asset that swings on sentiment and whose volatility can be harnessed to produce higher returns. For part of the world, it is a stable currency. For some, a venture investment. In other words, bitcoin is not a one-trick pony – the demand growth from any one of its many narratives could be enough to push up its value. Having many threads to pull on is also a weakness, however, because investors like clear narratives. Professional managers generally need to justify their allocation decisions, and bitcoin’s story is confusing. Even Paul Tudor Jones expressed skepticism at the success of his preferred narrative, that of digital gold, but invested anyway based on probabilities and price. Bitcoin’s lack of a clear value and a diluted understanding of its fundamentals lead many smart people such as Joe to focus on price performance as a barometer for success. It’s there, easy to watch, easy to track. And in a markets-centric world, that’s good enough for some. Value, on the other hand, depends partly on fundamentals, which in the case of cryptocurrencies are still poorly understood. It also depends on sentiment, which is the result of stories and expectations, not just of cryptocurrencies but also of environments and influencing factors. You think bitcoin has confusing narratives? Let’s talk about tech stocks, oil, the dollar, take your pick. So while I still believe rapidly evolving narratives around bitcoin are an opportunity, and that the fundamental value drivers of the cryptocurrency will become better understood with time and patience, I also accept now that a lack of clarity around what those are makes the price an understandable value proxy for many. The formula However, recent market trends have shown us price is increasingly disassociated from value, not just in cryptocurrencies. In today’s stock, bond and even currency markets, price is often totally out of whack with the underlying potential. It doesn’t mean that price is not important; it just means that it’s not something that should be taken as a proxy for value – or for success – as we look forward. As an industry, we need to work on honing our understanding of the many narratives, and how they can influence value. We all need to learn to ask deeper questions, to entertain conflicting ideas and to accept that we just don’t know what the winning story – if there is one – will be. We’re getting better at metrics, a broader range of people are participating and our collective understanding is moving forward every day. But stories evolve, as they must to survive. We need to work on giving the stories scrutiny, as well as a broader vocabulary and set of tools that can enhance their telling. Anyone know what’s going on yet? Talk about conflicting signals: Stocks seem to be pricing in a booming economy, bonds are forecasting a protracted downturn in spite of heavy government and central bank buying, and currencies are all over the place. Given the momentum, investors seem to be accepting this conflict – the worry is that it becomes the new normal. Signs of a COVID-19 resurgence, though, are causing some jitters – but even so, the reality of the economic damage does not seem to have sunk in, in spite of even the Chairman of the Federal Reserve warning of hardship ahead. Bitcoin has had a lackluster month so far, underperforming most other asset groups while maintaining its newfound correlation with the S&P 500. Chain links WisdomTree Trust has filed for an ETF that may invest up to 5% of its net assets in the Chicago Mercantile Exchange’s (CME) bitcoin futures contracts. If approved, the rest of the fund would be invested in traditional commodities. TAKEAWAY: Early last year Reality Shares filed an exchange-traded fund proposal that included a partial investment in bitcoin futures, but the application was withdrawn at the SEC’s request. It’s possible the market and regulatory sentiment have evolved over the past 16 months such that this filing will meet a different fate – to start, there are differentiating technicalities between this filing and last year’s, and the bitcoin futures market has grown considerably. But we shouldn’t hold our breath. If it does get approved, it will not have the same market impact as a straightforward bitcoin ETF, given the fund’s limited exposure and focus on the futures markets. Asset manager Wilshire Phoenix has filed to launch a bitcoin investment trust. TAKEAWAY: Like the Grayscale* bitcoin trust, if approved this will list on an OTC market and have fixed redemptions. Grayscale’s GBTC bitcoin trust is often criticized for the high premium retail investors have to pay to buy shares on the secondary market. If approved, this trust could add competition and reduce the premiums. Or, in the absence of a bitcoin ETF, demand could grow such that we’ll have two sets of high premiums. (*Grayscale is owned by DCG, the parent of CoinDesk.) Mason Privatbank Liechtenstein AG has become the latest private bank to offer digital asset custody through a partnership with Hong Kong-based Hex Trust. TAKEAWAY: News about European private banks offering crypto services seems to be gracing our headlines more frequently these days. These banks tend to be small by U.S. standards, but they focus on institutional clients and high-net-worth individuals, so their potential reach when it comes to crypto services is significant. And the range of services they are offering is similar to full prime brokerage, with trading, custody, lending and banking services rolled into one. We will most likely see more announcements like this in the remainder of the year, each of which provide new onramps to satisfy the growing interest they expect to see. After two years of development, Komainu – a joint venture between Nomura Holdings, CoinShares and Ledger – has launched to offer crypto asset custody to institutional investors. TAKEAWAY: The entity is based in the U.K.’s Jersey Channel Islands, and will provide custody, compliance and insurance services. The pedigree of the partners is interesting: Nomura is one of Japan’s largest investment banks (yes, a legacy bank investing in crypto custody!), and Ledger is one of the sector’s original custodians. CoinShares is one of the sector’s longest-running asset managers (as well as manager of a handful of listed crypto funds), and now also provides trading services, index management and tokenized assets. With the addition of custody, could CoinShares be angling to break into the crypto prime brokerage business? Codefi, backed by Ethereum development group ConsenSys, is working on an Eth 2.0 staking API, which aims to help large exchanges, wallet providers, custodians and funds earn income from a portion of their crypto asset holdings. TAKEAWAY: As the launch of the transition to Ethereum’s new blockchain nears*, interest in staking seems to be growing. This could pick up steam as demand is fueled by the record-low yields on other traditional asset groups, and as service providers become more robust and user-friendly. (*TEASER: We will soon be publishing a report on what this transition means for Ethereum and for investors.) Chinese bitcoin miner manufacturer Ebang estimates it incurred a net loss of $2.5 million on a revenue of $6.4 million for Q1 2020. This disclosure was posted this week in an update to the firm’s IPO prospectus filed with the SEC. TAKEAWAY: A Chinese loss-making company trying to raise shares in a U.S. listing? In these crazy markets, it could do very well. However, the listing may be denied due to a lack of inspected audits – or for a lack of revenue, or a number of other reasons. (For a detailed breakdown of the Ebang filing, see our report “Ebang IPO: Dude, where’s my revenue?” ) According to data from crypto analytics firm Glassnode, over 60% of all bitcoins have not moved in at least a year. TAKEAWAY: Contrary to some analyses (see THE BRIEFING above), this indicates that the buy-and-hold strategy is gaining ground. True, a chunk of these coins may be in wallets with lost keys, but the overall trend indicates that holders are still holding. The number of bitcoin that hasn’t moved in 2-3 years grew by over 25%. Jeff Dorman of Arca Funds compares the crypto asset universe to the bond market, arguing that the two asset groups have much in common in terms of investor specialization and arcane math. TAKEAWAY: Great insight into how valuation models are still evolving, and have a way to go still. The Financial Services Commission of Mauritius has created a regulatory regime for a full-fledged security token ecosystem. TAKEAWAY: This is interesting given that the island state was one of the early sovereign nations to embrace the potential of becoming a blockchain hub, and is pretty far along in setting up legal frameworks for a wide range of crypto-related businesses. Combine that with its status as a tax haven that has attracted a growing base of high-net-worth individuals, and the imminent likely blacklisting by Europe as a “high-risk third country,” and you can start to catch a glimpse of where fully functioning crypto financial system could flex its resilience, even if it’s at a small scale. Worth watching. Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold to over $370 million, making it the second largest bitcoin options market in the industry, behind Deribit. TAKEAWAY: Open interest for Deribit has also reached all-time highs, almost double the 2019 high reached almost exactly a year ago. This growth indicates a solid maturation of the crypto markets overall, and could unleash increasingly aggressive trading strategies as risk-takers feel more comfortable with the hedging tools available. Podcasts worth listening to: Bitcoin Is More Than an Inflation Hedge – The Breakdown, Nathaniel Whittemore Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin – The Breakdown, Nathaniel Whittemore From Moral Hazard to Business as Usual, Feat. Jesse Felder – The Breakdown, Nathaniel Whittemore Lord Mervyn King On The Wrong Use Of Monetary Policy In A Radically Uncertain World – Macro Hive, Bilal Hafeez ‘Stonks,’ the Rise of Retail Bros, & Powell’s Money Printer | Tony Greer – Hidden Forces, Demetri Kofinas Related Stories Crypto Long & Short: What Changed My Mind About Bitcoin Narratives Crypto Long & Short: What Changed My Mind About Bitcoin Narratives || Bitcoin – Testing the High 9K?: Price has tested near the range low and established a price point at 8830. This stopped us from a recent swing trade idea that we shared around the 9625 area. As most novice traders will consider a stop out a negative event, we actually look upon it very positively. Why? Stops SAVE money in the long run.
What ifBitcoinwent to 8K on some news? I can’t tell you how many times a stop loss order has saved us tons of money. If you get frustrated by a stop, that is a sign that you have not been in this game very long. Another thing that makes the stop easier for us to manage is we only had 1% of our capital at risk. Often traders misunderstand sizing and take positions that are proportionally too large for their account, making a stop out much more painful financially AND emotionally.
On Monday, our criteria for a new swing trade long was met and it became active upon the break of the 9225 level. Since then, it has been somewhat noisy, but this is in line with the character of a consolidation. What makes this position compelling is the fact that price found support off the 8830 area and did not even come close to the 8500 inflection point (sign of strength). Secondly, the reward/risk is much better since the position was taken closer to the range low rather than the middle of the range.
Testing the high 9Ks or low 10K area is reasonable and our initial target is strategically placed with this in mind (we use 3 targets). CanBitcoinstill fail? Sure, but a lack of momentum should NOT be confused with the nature of the broader trend which is BULLISH. In order to change our outlook, price needs to first compromise the 8500 support. Until then, we will continue to focus on managing risk and placing greater weight on buy signals, especially if they appear near key levels.
Thisarticlewas originally posted on FX Empire
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• Forex Technical Analysis & Forecast for July 2, 2020 || Decentralization and What Section 230 Really Means for Freedom of Speech: Bitcoin underwent a protocol update to make the network more resilient to state attacks, while researchers separately found Ethereum may be losing its anonymity. Elsewhere, “Crypto Mom” Hester Pierce has been tapped for a second term at the SEC, and an ex-Yang advisor is making crypto a cornerstone to his House campaign. 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 Ethereum The most popular way to use bitcoin off-chain is on Ethereum, data suggests. Ethereum projects including WBTC and imBTC hold 70% more bitcoins than Bitcoin-native scaling solutions Lightning or Liquid. Separately, researchers have found that governments and private entities can strip away anonymity from Ethereum, and users are making it easier for them by revealing links between deposits and withdrawals. This could also “impact the anonymity of other users, since if a deposit can be linked to a withdraw, it will no longer belong to the anonymity set,” the authors write. Bitcoin The 20th iteration of Bitcoin Core, the open source software powering the Bitcoin blockchain, was released Wednesday. Included in the update is an experimental software called “Asmap” to protect against a theoretical “Erebus” attack, which allows nation states and/or large internet providers such as AWS to spy, double-spend or censor bitcoin transactions. Meanwhile, HDR Global Trading Limited, BitMEX’s parent company, has awarded its second grant to a Bitcoin Core contributor. ( The Block ) Mining The Bitcoin blockchain adjusted its mining difficulty downwards, dropping 9.29%, to reach the lowest level since January. This is the eighth-largest negative difficulty adjustment in Bitcoin’s history and the eighth instance of two or more consecutive negative adjustments. Elsewhere, mining firm Argo reported a 34% dip in May mining margins, possibly as a result of the bitcoin halving event. Last but certainly not least, Micree Zhan Ketuan, the ousted Bitmain co-founder, sent a letter calling for employees to return to the office to join him rather than his rival co-founder Wu Jihan. The message offered cash bonuses to loyalists , and said Zhan would complete the company’s long-awaited IPO while pushing its market capitalization to over $50 billion in the coming years. Decrypt reported that Zhan retook the office with a dozen security guards in tow. Story continues Banking Arival Bank is launching in beta Thursday with a 20-person team and offices in Singapore, Puerto Rico and Saint Petersburg, Fla., to provide banking accounts to crypto startups via a sponsor bank. Japanese banking giants Mitsubishi UFJ Financial Group (MUFG), Mizuho Financial Group, and Sumitomo Mitsui Financial Group – institutions that control more than $6.6 trillion in assets between them – will participate in a study group to determine the feasibility of a national digital payments solution. Related: Blockchain Bites: Bitmain’s Shakeup, Bitcoin’s Resilience and Ethereum’s Anonymity Policy and law Hester Peirce, also known as “Crypto Mom,” for her favorable outlook on this emergent asset class, has been tapped for a second term at the SEC. Jonathan Herzog, an ex-Andrew Yang advisor, is running for office on the platform of expanding civil liberties, instituting universal basic income and passing a constructive cryptocurrency framework. Exchanges Bittrex and Poloniex have been named defendants in a class-action lawsuit against USDT creators Tether and Bitfinex. ( CoinTelegraph ) Use cases The Offshore Operators Committee, a nonprofit focused on offshore energy, has found a blockchain management system reduces costs and time for transporting wastewater. Luxury asset firm Idoneus used its native token to purchase a Picasso painting. ( Decrypt ) Opinion The Neil Ferguson Affair Shows the Limits of Science During COVID-19 Nic Carter, CoinDesk columnist and partner at Castle Island Ventures, tackles the narrative drama around a U.K. epidemiologist who predicted 250,000 deaths in Britain and influenced lockdown policy in the U.K. and abroad. “The depth of the outrage [which followed] reveals just how scandalized the public can become when trusted institutions are revealed to be less reliable than expected,” Carter writes. The Last Last Word on Bitcoin’s (Horrifying) Energy Consumption Michael Reece Purson responds to Nic Carter’s op-ed, “The Last Word on Bitcoin’s Energy Consumption.” Challenging Carter point by point, Purson apparently made his first factual error when saying the VC has “‘analyst’ in your job description.” Market intel Bitcoin Doth Protest too Much? Wall Street traders appear to be looking past the protests roiling across the nation, focusing instead on prospects for an improving economy as states reopen and business activity picks up. The dollar weakened Wednesday against the euro and British pound, seen as a sign that investors in traditional markets are ramping up, not ratcheting back, risk-taking. The bitcoin market, too, has barely reacted to the news. Prices nudged 0.4% higher on Wednesday to about $9,600, leaving the cryptocurrency squarely within the range where it has traded since late April, between $8,500 and $10,200. Bloomberg Is Bullish A Bloomberg analyst thinks bitcoin will hit $20,000 this year, after comparing the price action seen over the last 2.5 years to the patterns over the 2.5 years following the leading cryptocurrency’s rise to record highs in December 2013, when bitcoin printed a lifetime high of $1,100 before crashing. CoinDesk Research CoinDesk Research: May 2020 Review Bitcoin’s returns continue to outpace stocks, bonds and gold, and so does its volatility. Spot exchange volumes probed historic highs in May and bitcoin options markets passed a milestone and didn’t look back. Outperforming crypto assets a couple of use-specific crypto tokens that topped crypto returns for the month. Download the full report here. The Breakdown 5 Numbers That Tell the Story of Markets Right Now In this episode of The Breakdown, NLW tries to make sense of today’s economy by looking at the growth of the S&P 500, unemployment statistics and growing global debt. Who Won #CryptoTwitter? Related Stories Blockchain Bites: Poolin Lending, Square Crypto’s Grant and a Senate Candidate Who Holds Bitcoin First Mover: BSV Doubles in 2020 as Bitcoin Offshoot Wins Devotees || To His Own Surprise, Crypto Volume Pumper’s Business Is Still Thriving: Eleven months ago, Alexey Andryunin was sure his business was not long for this world.
A 22-year-old math student from Moscow, Andryunin built a business inflating trade volumes in little-known crypto tokens issued during the 2017 initial coin offering (ICO) craze. In ahead-turning interviewCoinDesk published last July, Andryunin candidly described the underworld of micro-cap tokens and exchanges surviving on artificial volumes ginned up by paid “market makers” (atraditional finance termused loosely in this context.)
At the time, Andryunin thought his business was heading to a decline: ICOs were moribund, the token market was shrinking and anew wave of regulatory attentionwas about to scour the shadier corners of the crypto space.
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He now says he was mistaken. Business is growing again as token promoters pay him to pump their projects so they’ll be accepted on crypto exchanges. It doesn’t hurt that the COVID-19 pandemic has led to a rise in investors looking for the next crypto opportunity.
“We were about to switch to big data analysis, but we didn’t have a moment to start there [because] the crypto market suddenly turned around to us,” he told CoinDesk recently.
In addition to inflating volumes, his firm is providing all kinds of services to token projects. It will code apps when the founders of the projects have nothing but an idea, Andryunin said – for a price.
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Previously a two-man shop, Andryunin’s firm, Gotbit, now has a team of seven and a seemingly endless pool of readily available freelancers from the body of math students at Moscow State University, where Andryunin himself is a junior.
He found the CEO life incompatible with his college schedule, though, so he’s thinking of dropping school after this semester. “[Studying] fundamental mathematics and leading a business do not come together well.”
Andryunin’s newfound career shows that long after the ICO craze ended, there are dozens of outfits still raising funds via token sales – and the pandemic has made business lucrative once again for issuers and middlemen.
While the dollar amounts are far smaller than during the go-go days, the token market is active. In just the last 30 days, over 60 new tokenshave been listed on CoinMarketCap, the popular website recentlyacquired by Binance.
The world of penny tokens and obscure exchanges is still appealing, Andryunin says. In his estimate, each month the market for promoting new tokens generates about 1,000BTC(roughly $9 million at recent prices) in fees for companies like his.
Sergey Khitrov, founder of Listing.Help, which serves as an intermediary between token projects trying to get listed and exchanges, said demand for such services soared this spring.
“In the times of pandemic, many businesses took a hit, and the companies shifted to making crypto projects, which increased the demand for listings,” Khitrov said. In addition, during the spring many exchanges lowered their listing fees, which also stimulated demand.
About 95% of the tokens created through ICOs are now dead, he estimated, with their value up to 70 times smaller than at their peak in 2017. Nevertheless, some people still want to play the token game.
See also:Coinbase Open Sources Technical Standard to Streamline Token Listings
At Binance, the world’s largest crypto trading venue, the flow of new listings for the initial exchange offering (IEO) platform, Binance Launchpad, “has slowed down considerably since 2019 due to the market trend,” said a spokesperson, Leah Li.
However, the platform, which is now offering new tokens in two formats, a traditional IEO and a lottery, “remains very popular among Binance users,” with up to 22,000 users taking part in a single IEO, Li said.
One reason: As the COVID-19 crisis hit traditional, offline businesses hard, investors turned their attention to the online sphere.
“People with money who used to invest in offline businesses, they are now investing in digital ones,” said Nikita Brudnov, CEO of B&R Group, which is also in the token-listing business and subcontracts some services from Andryunin’s firm – including, Brudnov said, the trading volume bots.
It’s mostly a path that gaming, entertainment and financial firms take, Brudnov added. The online realm saw a surge in demand, too: When people are stuck at home during a pandemic, they try their hand at day trading more often.
“A lot of people have been flocking to crypto recently, and when bitcoin crashed many bought in,” Brudnov said, referring to thesteep price decline in mid-March.
However, the point of using tokens for fundraising by established businesses is not entirely clear to Brudnov or Andryunin, even though both cater to such clients.
“I’m asking them: Why do you need crypto here? And they don’t even know it themselves. They got into that in 2017 and still keep doing the same,” Andryunin said. “Some of those projects are made by people who have already [done] something successful in crypto and that’s the only way they know.”
It’s also an easier (although not completely welcomed by regulators) way of fundraising, he added.
Initial public offerings are “a difficult thing to do. You need to have a strong project, notable market cap, long-time growth. And to issue a token, you need one bitcoin, five lines of code and a token on Ethereum,” Andryunin said.
However, Gotbit has become more selective when it comes to new clients, trying to choose those with sound business models, not just “grab a quick buck and run,” Andryunin said. “For example, one of our clients is a sports game startup with a token. For such clients, we agree to make discounts and even take their tokens as a payment.”
A lot of people have been flocking to crypto recently, and when bitcoin crashed many bought in.
The firm now boasts over 80 customers, including 34 token issuers, and five exchanges in the pipeline.
They come from Asia, traditionally active on the crypto scene, the Middle East and European countries including Switzerland, France, Belgium and the Netherlands, Andryunin said.
Andryunin’s clients have evolved with time, he said: Startups selling tokens switched from public sales to private investments by funds, friends and family. Brudnov said after ICOs died out their later incarnation, IEOs, turned out to be of little use unless the tokens could be listed on top exchanges.
“We have some clients who did IEOs and they raised nothing. Like, $1,000,” Brudnov said.
However, that’s not true for IEOs at leading exchanges by volume like Binance, KuCoin or Huobi, Brudnov said.
According to Andryunin, Gotbit has a strategy that allows a token to be listed on these exchanges within six months.
The strategy works by first listing the tokens on a few small exchanges, some marketing and community development work and then pumping up the volume.
For IEOs conducted on auxiliary platforms of large exchanges, such as Binance’s Launchpad, it’s common to let the community vote and select new tokens for listings.
See also:Crypto Exchanges Must Stop Acting Like Casinos in Wake of Robinhood Suicide: bitFlyer Exec
If the voting goes well and the tokens get listed, the project’s bad times are over, Andryunin said. “The client gets endless liquidity, many users, the funds start coming to them willing to invest.” (He stresses that his bot-driven volume inflation is limited to smaller exchanges, not the big-name venues.)
Further, after a listing on a major exchange like Binance, a number of other smaller exchanges list these tokens immediately, to piggyback on the fresh wave of traders’ interest.
Sixteen Gotbit token projects were accepted by community voting and four were listed on one of those exchanges’ IEO platforms, Andryunin said.
To get the token on its way to CoinMarketCap and bigger exchanges, the manipulation is done in short “sprints” at the very beginning “so that the project doesn’t hang there with no market,” Andryunin said. “It’s a very negative thing.”
But Gotbit “really pumps the volume into the market” in the last few months before a big exchange’s IEO community voting takes place, so traders don’t lose interest right before the final battle, Andryunin said.
Such tokens are not volatile enough to attract traders on their own, he said, and there are no sophisticated speculation tools that would allow profiting from even small price moves, as there are for bitcoin.
Six months of work can cost a GotBit client $60,000 to $100,000, depending on how much effort a token requires to get listed. Some require artificial volume support even after the listing, he adds. Some exchanges require that a token have a minimum trading volume, or it gets delisted – and the natural interest in such tokens on the traders’ side is often far from the required level.
Binance is always in contact with new projects’ founders and “extensively check[s] the information/metrics provided to ensure accuracy and authenticity,” spokesperson Leah Li told CoinDesk. To select projects for community vote, Binance looks for things like “a proven team, useful product, and large user base.”
“The team’s commitment to its project is a key indicator, as well as the level and quality of development activity. We review each project diligently to ensure that it meets the high level of standard we expect,” she added.
As for existing trading volume, it’s only ”one of the many factors” to consider, Li said, adding: “It’s usually quite obvious to determine how real the volume is by just looking at which exchange it is.”
An even bigger market now is not tokens, but exchanges, Andryunin says, especially the ones trading futures contracts.
See also:Number of Institutions Buying Crypto Futures Doubled in 2020: Fidelity Report
In March, Gotbit started providing liquidity to such exchanges, mostly by copying the order books at bigger exchanges, like Binance.
For example, to close a sell order on a smaller exchange, Gotbit opens a buy order on a larger one.
“On the futures exchanges, you can really make a lot of money; many people come there thinking they are great traders and buy bitcoin with 100 times leverage. They are creating this inefficiency in the market and inevitably hit our orders, so we’re making money,” Andryunin says.
A year after planning to close his “market making” shop, Andryunin is planning for growth.
The ultimate goal is to become a serious, legit market maker for a major exchange like Binance or Huobi, he said. It requires serious investment, though.
“You need to support 40-50 trading pairs, locking at least $50,000 for each, so you need to keep about $20 million frozen – but this money is gaining a profit around 10-15 percent a month,” Andryunin said. “We can’t afford it yet, but one day, we’ll come to it.”
• To His Own Surprise, Crypto Volume Pumper’s Business Is Still Thriving
• To His Own Surprise, Crypto Volume Pumper’s Business Is Still Thriving || Bitcoin Miner Hut 8 Closes Better-Than-Expected Equity Round at $8.3M: Miner Hut 8 said last week it had raised a total of $8.3 million from selling a 6% equity stake to investors, approximately $800,000 more than the original $7.5 million funding target. The Toronto-listed mining company says the funding will keep it competitive as smaller entities with older equipment feel the pinch from last months halving. Were proud to close the first prospectus offering by a cryptocurrency mining company in Canada and further improve Hut 8s lead as one of the largest public bitcoin miners, said Jimmy Vaiopoulos, Hut 8s interim CEO, in a statement. Related: Market Wrap: Bitcoin Traders Expect Big Move as Volatility Plummets Overall, investors purchased a total of 5.7 million units in Hut 8, at $1.45 apiece. Each unit contains one common share in Alberta-based Hut 8, as well as the option to purchase another share in the next 18 months at $1.85. The funding will be invested in new equipment. Ryleigh Ebron, an external spokesperson for Hut 8, said the company be able to increase mining capacity by more than a fifth to 1,150 petahash (PH/s). Once installed, the company could comprise just under 1% of the total hash rate for the bitcoin blockchain, currently around 115,200 PH/s according to Blockchain.com. This financing is expected to strengthen Hut 8s cash flows and balance sheet, Ebron added. See also: Chinese Bitcoin Miner Producer Ebang Is Launching an Offshore Exchange Related: Chinese Bitcoin Miner Producer Ebang Is Launching an Offshore Exchange Hut 8s finances have been the subject of much discussion. It saw a $116.6 million loss just in Q4 2019. As a report from CoinDesk Research highlighted earlier this year, the company made a wafer-thin gain of just over $2 million in 2019. The stock price says it all : In April 2018, Hut 8 traded at CAD $4.50 (~$3.28) but has since spiraled downwards, hitting a low of CAD $0.59 ($0.43) by mid-March this year. At the time of writing, shares were at CAD $0.98 (~$0.72). Story continues Hut 8 has attributed this poor performance to a deleterious agreement that obliged them to only buy mining equipment from manufacturer Bitfury, its single biggest investor. That prevented it from accessing the faster miners coming from Bitfurys rivals, leaving it with rapidly aging equipment. Over time, that meant it made up less of the total hashrate and won far fewer blocks, which hit revenue. In January, Hut 8 amended the agreement so it could buy mining equipment elsewhere. Interestingly, Hut 8 said it will use all the new funding to buy mining equipment from Bitfurys rival, MicroBT. Most of the new rigs will arrive between July and November. See also: Argo Buys $500K Worth of Zcash Miners as Bitcoin Revenue Shrivels Hut 8 hopes the halving will make it harder for some of their competitors, the ones operating with older equipment, to stay in the game, said Ebron. The halving is arguably better for miners who can get access to the latest generation of bitcoin mining equipment as they are far more profitable and will benefit from the drop in network difficulty as older equipment continues to be turned offline, Ebron said. Ebron also pointed out the miner is in a particularly advantageous position because lower electricity rates in Alberta mean Hut 8 can better weather fluctuations in the volatile bitcoin price. Hut 8 listed on the Toronto Securities Exchange in October 2019. The exchange has already approved the listing of newly sold shares, subject to the mining company meeting listing conditions, which include having more than CAD $7.5 million (~$5.5 million) in net tangible assets, such as new mining equipment. Related Stories Bitcoin Miner Hut 8 Closes Better-Than-Expected Equity Round at $8.3M Bitcoin Miner Hut 8 Closes Better-Than-Expected Equity Round at $8.3M
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39
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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 (BTC) Rejected Just Short of $56,000 Level: The Bitcoin (BTC) price saw a strong recovery after bouncing from support on April 26.
However, BTC was rejected by a short-term resistance level just shy of $56,000.
BTC has resumed the bounce from April 26. The bounce began at a confluence of Fib support levels between $46,900-$47,725. The area is created by the 0.5 long-term Fib (orange) and 0.786 short-term Fib (black).
So far, it has reached a local high of $55,738.
An interesting development is the bullish reversal signal in theMACD.
Despite this, the RSI and Stochastic oscillator are still bearish.
The shorter-term chart is showing weakness.
Firstly, the price was rejected as soon as it reached the 0.5 Fib retracement resistance at $55,565 (black).
Furthermore, both the RSI and MACD have generated considerable bearish divergences.
If the price corrects, the three closest support levels are found at $52,381, $51,349, and $50,317. These are created by the 0.382, 0.5, and 0.618 Fib support levels. The 0.5 Fib is also a horizontal support area, making it very likely to act as the bottom.
TheBitcoin Dominance Rate (BTCD)is also showing signs of a reversal. Both the MACD and RSI are moving upwards, and the latter has generated a bullish divergence.
A breakout above the current descending resistance line could cause a significant upward movement.
A look at the relationship between BTCD (green) and BTC (orange) does not show a clear relationship. However, sharp BTC price movements have caused a movement in the opposite direction for BTCD (highlighted in red).
This is also evident by the correlation coefficient, which is now negative (red).
Therefore, a retracement could cause the aforementioned increase in BTCD.
BTC is expected to continue retracing towards one of the Fib retracement support levels. This could cause an uptick in the BTCD.
For BeInCrypto’s previousbitcoin(BTC) analysis,click here. || GBP/USD Daily Forecast U.S. Dollar Tries To Gain More Ground As Treasury Yields Rise: GBP/USD Video 30.03.21. U.S. Dollar Attempts To Gain More Upside Momentum GBP/USD has recently made an attempt to settle above the resistance at 1.3780 but failed to develop sufficient upside momentum while the U.S. dollar remained flat against a broad basket of currencies. The U.S. Dollar Index is currently trying to get to the test of the resistance level at 93. If the U.S. Dollar Index manages to settle above this level, it will move towards the next resistance at 93.20 which will be bearish for GBP/USD. Today, foreign exchange market traders will focus on CB Consumer Confidence report from the U.S. Analysts expect that Consumer Confidence increased from 91.3 in February to 96.9 in March. Traders will also monitor the developments in the U.S. government bond markets. The yield of 10-year Treasuries managed to climb back to multi-month highs near 1.75% which is bullish for the U.S. dollar. If Treasury yields settle above recent highs, they will gain additional upside momentum. Technical Analysis GBP/USD declined below the support at 1.3780 and is slowly moving towards the next support level which is located at 1.3745. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge. In case GBP/USD declines below the support level at 1.3745, it will head towards the next support at 1.3710. A move below the support at 1.3710 will open the way to the test of the support at 1.3665. The previous pullback was stopped near this support level, so Id expect increased interest from traders if GBP/USD gets closer to 1.3665. On the upside, the nearest resistance level is located at 1.3780. In case GBP/USD gets above this level, it will head towards the resistance at 1.3800. A successful test of the resistance at 1.3800 will push GBP/USD towards the next resistance at the 50 EMA at 1.3820. A move above the 50 EMA will open the way to the test of the resistance at the 20 EMA at 1.3830. 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: Former SEC Chairman Advises Bitcoin-Oriented Hedge Fund on Crypto European Equities: German Inflation, U.S Consumer Confidence, and COVID-19 in Focus Lululemon Athleticas Q4 Earnings to Grow Nearly 9%, Revenue About 19% Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis March 30th, 2021 Why Shares Of Credit Suisse Are Down By 11% Today? EOS, Stellars Lumen, and Trons TRX Daily Analysis March 30th, 2021 View comments || Bitcoin hits record before landmark Coinbase listing on Nasdaq: LONDON (Reuters) - Bitcoin hit a record of $62,741 on Tuesday, extending its 2021 rally to new heights a day before the listing of Coinbase shares in the United States. The largest U.S. cryptocurrency exchange's listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates. Bitcoin is the world's biggest cryptocurrency, with growing mainstream acceptance as an investment and a means of payment. It rose as much as 5% on Tuesday. Smaller rival Ethereum also reached a record high of $2,205. The overall cryptocurrency market capitalization hit an all-time peak of $2 trillion earlier this month, according to data and market trackers CoinGecko and Blockfolio. Major firms including BNY Mellon, Mastercard Inc and Tesla Inc are among those to have embraced or invested in cryptocurrencies. Bitcoin topped $60,000 early last month, fuelled by Tesla's move to buy $1.5 billion of the digital currency for its balance sheet. For the past two weeks, it had traded in a tight range. "When bitcoin markets create new highs, the price often range-trades and we witness a round of profit-taking," said James Butterfill of digital asset manager CoinShares. "During this most recent period, have witnessed a similar profit-taking round, which now looks to have run its course." Simon Peters, analyst at multi-asset investment platform eToro said "demand is flooding the market from institutions just as large amounts of bitcoin and ethereum are increasingly being taken offline and holders are transferring them to their own wallets." "There is only one outcome from that, and investors should expect higher highs and higher lows throughout the year," he added. The multifold rise in cryptocurrencies is also driven by investors seeking high-yielding assets amid low interest rates. However, the meteoric rise of bitcoin, which traded at a few hundred dollars only five years earlier, has led major investment banks to warn of a speculative bubble. Story continues Several fund managers surveyed by BofA and Deutsche Bank have said Bitcoin was in "bubble" territory and expect it to pull back sharply. At 1044 GMT on Tuesday, bitcoin was at $62,505.27, up around 4.5% on the day. (Reporting by Thyagaraju Adinarayan and Tom Wilson; editing by Larry King and Bernadette Baum) || Bitcoin ad suggesting pensions should be invested in cryptocurrency banned: EMBARGOED TO 0001 WEDNESDAY MARCH 17 Undated handout photo issued by the Advertising Standards Authority of an ad for for Bitcoin exchange Coinfloor which has been banned for irresponsibly suggesting that buying the cryptocurrency is a secure way to invest savings. Issue date: Wednesday March 17, 2021. PA Photo. See PA story CONSUMER Coinfloor. Photo credit should read: Advertising Standards Authority/PA Wire NOTE TO EDITORS: This handout photo may only be used in for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder. - PA An advert for Bitcoin claiming there is no point keeping money in the bank has been banned by the advertising watchdog after suggesting pensions should be invested in cryptocurrency. The Advertising Standards Authority (ASA) ruled that Coinfloors advert, which appeared in a regional newspaper, was misleading and irresponsible for failing to make clear the risks of investing in what it called digital gold. The advert featured an image of a woman with a caption hailing the savings power of Bitcoin, a type of digital currency. The price of Bitcoin has soared in recent months to nearly £40,000 at the time of writing, but is highly volatile and would not normally be considered an appropriate holding for a pension portfolio. The advert read: When [name] turned 60, she received part of her pension from a previous job and decided to research the market for the best way of investing it. It then quoted the woman: I come from a generation of savers, not spenders [
] Today, there is no point keeping it in the bank the interest rates are insulting [
] That is why when I received my pension, I put a third of it into gold, a third of it into silver, and the remainder into Bitcoin. Coinfloor said that the views expressed were those of the individual and did not represent those of the company. It said the personal testimony was intentionally separated from details of the companys offering in a different colour box. It said it included a disclaimer stating that cryptocurrencies involved significant risk. It further added that there was no suggestion in the advert that the actions taken by the customer were a wise or secure investment. However, the ASA ruled that the disclaimer was insufficient and said the advert should not appear again in its current form. Susannah Streeter, an analyst at Hargreaves Lansdown, an investment broker, said there was growing concern among regulators about the increased speculation surrounding cryptocurrencies. She said despite its recent surge, the volatility of Bitcoin made it very hard to determine the right time to buy or sell. In 2019, a report by the Financial Conduct Authority warned that some Bitcoin buyers were behaving like problem gamblers, becoming delusional and obsessed with their investments. || Bitcoin hit a $1 trillion market cap faster than Apple, Amazon and Google: Bitcoin reached the $1trn milestone in 12 years, while it took Aple 42 years and Amazon 24. Photo: Getty Images (Kanawat Thongrod / EyeEm via Getty Images) Bitcoin ( BTC-USD ), which recently hit an all-time high above $64,000 (£46,484), is once again worth over $1tn. The cryptocurrency has reached the milestone much faster than other tech giants including Apple ( AAPL ), Amazon ( AMZN ) and Google ( GOOGL ). A report compiled by CryptocParrot, a cryptocurrency trading simulator, found that bitcoin reached $1tn twice as fast as Amazon and more than three times faster than Amazon. Chart: CryptoParrot Bitcoin took just 12 years to hit the $1trn mark, according to CryptoParrot. Apple needed 42 years to hit the milestone, meaning bitcoin got there 3.5 times faster than the iPhone maker. Amazon took 24 years, double the time it took bitcoin. Google got there in 21 years and Microsoft ( MSFT ) took almost half a century. Many market watchers bristle at comparisons between bitcoin's value and private company market caps. Tech companies like Google are, after all, limited stock businesses, whereas bitcoin is a decentralized financial network. However, both depend on technological adoption for their value. Market capitalisation the value of all bitcoin in circulation is a good yardstick for measuring the asset's spectacular rise. Watch: What is bitcoin? READ MORE: Bitcoin hits another record above $64,000 ahead of Coinbase IPO "Although the technology stocks have soared from last year, none has been able to outperform bitcoin," CryptoParrot said in its report. "If bitcoin sustains the growth coupled with increased institutional adoption that will lower volatility, the market cap might surpass some mainstream assets. The achievement is possible considering the bitcoin market cap has exceeded other formidable players like Tesla," Bitcoin has outperformed even parabolic stocks like Tesla over the last year. Photo: Yahoo Finance UK (Yahoo Finance UK) The market value of all bitcoin in circulation hit $1trn for the first time earlier this year, according to data website CoinMarketCap. In December, bitcoin passed Visa ( V ) to become the world's largest financial network. Cryptocurrency prices have been fuelled by growing acceptance from mainstream investors and companies over the last 12 months, including Tesla ( TSLA ) and Mastercard ( MA ). Story continues The most recent price rally came in anticipation of cryptocurrency exchange Coinbase's hotly tipped US stock market listing. Watch: What are the risks of investing in cryptocurrency? || Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M: Hong Kong-listed software firm Meitu has announced new crypto currency investments, having already splurged $39.9 million on bitcoin and ether earlier this month . The company said Wednesday it has, through its subsidiary Miracle Vision, bought another 16,000 ETH valued at around $28.4 million and 386.086 BTC valued at approximately $21.6 million. All told, the company now has $50.4 million in ether and $39.5 million in bitcoin, bringing its combined crypto holdings to the equivalent of a little over $90 million. Meitu said the crypto assets had been bought for cash on the open market in transactions completed Wednesday. The bitcoin and ether are being held in secure custody with “renowned” cryptocurrency trading platforms, the firm said. The purchases were made under the terms of a board-approved investment plan that allows the company to invest in up to $100 million in cryptocurrencies. Cayman Islands-incorporated Meitu is a provider of image and video processing software. See also: Grayscale Offers New Trusts to Invest in 5 More Cryptos Including Filecoin, Chainlink Related Stories Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M || US Officials Arrest Alleged Operator of $336M Bitcoin Mixing Service: Bitcoin was up Tuesday despite lower-than-average spot volumes. Meanwhile, ether’s price hits record high and the cyrpto’s dominance is back at February levels.
• Bitcoin(BTC) trading around $54,840 as of 21:00 UTC (4 p.m. ET). Gaining 1.4% over the previous 24 hours.
• Bitcoin’s 24-hour range: $52,722-$55,261 (CoinDesk 20)
• BTC near the 10-hour and well above the 50-hour moving average on the hourly chart, a bullish signal for market technicians.
The price of bitcoin climbed as high as $55,261 around 17:00 GMT (12 PM ET) before settling to $54,840 as of press time.
It’s possible the world’s largest cryptocurrency by market capitalization could be headed higher.
Related:US Officials Arrest Alleged Operator of $336M Bitcoin Mixing Service
“A test of the $56,000 mark will soon follow, then will most likely roll back,” said Constantine Kogan, a partner at investment firm Wave Financial.
According to CoinDesk 20 data, bitcoin was last at $56,000 on April 20, when it declined from the all-time high price of $64,829 reached April 14.
The rise this week comes after bitcoin’s price went as low as $47,272 on Sunday.
Stefan Coolican, chief financial officer for investment firm Ether Capital, says dumps and recoveries are just part of the crypto market. “I think the weekend sell-off was overdone, personally, so a bounce back makes sense,” Coolican said.
Related:Square Adds Bitcoin Policy Lead From US Chamber of Commerce
Spot bitcoin exchange volumes for Tuesday were around $2.6 billion as of press time, compared with the past three months’ average of $5.1 billion of BTC changing hands daily.
It’s possible larger players are the ones in the market this week, with retail and new investors remaining cautious because of crypto’s notorious gyration. This caused lower volumes Tuesday.
“Bitcoin is an information-asymmetry environment,” Wave’s Kogan said. “A small number in the community are aware of impending price changes, and only a small number of global venues are able to manage these large trades.”
Despite the volume doldrums, a positive news cycle is affecting bitcoin’s price, Kogan said.
“JPMorgan is preparing to launch anactively managed bitcoin fundfor high-net-worth clients,” Kogan said. “Teslaannounced the saleof part of [its] bitcoins and profit taking, which is also positive. This helps the bullish trend. ”
Read More:Bitcoin Options Market Eyes $4.2B in Expiries on Friday
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Tuesday, trading around $2,631 and climbing 5.2% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Ether rose Tuesday to a record high price near $2,700 after a powerful three-day rally.
The price of ether, the native cryptocurrency of the Ethereum blockchain, climbed as high as $2,683.30 around 16:00 UTC (12 p.m. ET), based on CoinDesk data.
The new high came after three straight daily gains totaling 19%. The move extended the cryptocurrency’s stunning rally this year. Ether’s price has tripled thus far in 2021, in part thanks to trader enthusiasm over growth indecentralized finance(DeFi) and non-fungible tokens, both of which use the Ethereum blockchain. Bitcoin (BTC), by comparison, is up 89% this year.
“Ether has picked up its head and looks poised for a few more days of outperformance,” said Katie Stockton, a technical analyst for the consulting firm Fairlead Strategies.
Technical progress on Ethereum may be enticing investors to buy, said Ether Capital’s Coolican.
“It’s just more people understanding the value [proposition] of Ethereum and the token accrual model with proof-of-stake and EIP 1559,” Coolican told CoinDesk. Proof-of-stake is the more efficient form of consensus for cryptocurrency networks to which Ethereum is upgrading, and EIP 1559 is a development proposal expected to reduce fees on the network.
Read More:Bitmain to Release Antminer E9 ASIC for Ethereum Mining
On a day when all major assets on the CoinDesk 20 were up, the meme-centric cryptocurrencydogecoin(DOGE) was struggling to stay in the green.
Wave Financial’s Kogan says interest in DOGEwaxes and wanesat its own rhythm.“They are good in memes creation, I give them that. But I’m very skeptical about this Doge mania,” he told CoinDesk. “It may end up badly, with retail investors losing a lot of money. Or, better to say, when it will happen.”
Digital assets on theCoinDesk 20are all green Tuesday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• nucypher(NU) + 23.7%
• yearn finance(YFI) + 8.7%
• uniswap(UNI) + 8.3%
Equities:
• Asia’s Nikkei 225 index closed in the red 0.46% asexpectations from traders on corporate earnings fell flat.
• Europe’s FTSE 100 ended the day slipping 0.26%, withinvestors exhibiting some anxiety ahead of the U.S. Federal Reserve’s two-day meeting that started Tuesday.
• The U.S. S&P 500 index was flat, in the red just 0.02%, astraders took a wait-and-see approach ahead of major earnings reports coming after Tuesday’s close.
Read More:Elon Musk’s Tesla Sold Bitcoin in Q1 for Proceeds of $272M
Commodities:
• Oil was up 2%. Price per barrel of West Texas Intermediate crude: $63.19.
• Gold was in the red 0.27% and at $1,776 as of press time.
• Silver is gaining, up 0.33% and changing hands at $26.27.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed Tuesday to 1.623 and in the green 3.51%.
• Turkish Government Plans Central Custodian Bank to Manage Crypto Risk: Report
• Polygon’s Ethereum Scaling Project Is Never Complete: Sandeep Nailwal || ACCOINTING.COM has an Aggressive Growth Agenda to Meet the Needs of its Crypto Trading Customers: The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
ACCOINTING.com, an innovative crypto tax and portfolio tracking platform, is making a big move in consolidating its entire company infrastructure by giving its users new opportunities to leverage its entire ecosystem efficiently.
ACCOINTING.com, which launched a free crypto tax solution last year, allowing its users to track Bitcoin and over 7,500 cryptocurrencies via mobile devices and desktop, is working to provide clear guidance inside of the platform. The goal is to leverage its ecosystem from its crypto tracker application to the crypto tax platform. The move will streamline the access users have to gain the benefits of the entire ACCOINTING.com life cycle of products and boost knowledge for crypto traders by giving them a unique platform for their complex transactions.
The move comes as the crypto space demands faster and more agile methods to collaborate and generate new features. In response, ACCOINTING.com has shifted its business model to cross-functional teams to generate faster and more efficient customer solutions. According to the company, this will allow faster deployment and even more immediate feedback.
To provide these new platforms, ACCOINTING.com has aggressively expanded its sales and development team, gaining experienced employees to enhance its importers, improve overall UX/UI, and generate additional innovative content to offer its users. The new content will far exceed what has been offered in the past, with the initial reputation being as simply a crypto tax and portfolio tracking tool.
In making these moves, ACCOINTING.com believes it continues to build increased responsiveness as a key differentiator from its competitors in the space. The company is telling its customers that it provides extremely accurate accounting software to help build customer loyalty, whether it be in their use of ACCOINTING.com’s tax reports or working with the company’s customer service team.
The company has also recently created the ACCOINTING.com Crypto Tax Advisor Network (ACTAN) for crypto tax experts from around the world, beginning with the United States, the United Kingdom, Germany, Austria and Switzerland, to provide expertise to a community of its more than 85,000 users.
ACCOINTING.com is currently pointing at Q3 2021 to roll out its new tools and consolidated products, with an end goal of being the source of a single solution for crypto traders and their portfolios.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin falls 7.7% to $55,408: (Reuters) - Bitcoin, the world's biggest and best-known cryptocurrency, dropped 7.7% to $55,408.08 on Sunday, losing $4,624.21 from its previous close. Ether, the coin linked to the ethereum blockchain network, fell 6.53 % to $2,165.91 on Sunday, losing $151.2 from its previous close. (Reporting by Aakriti Bhalla in Bengaluru; Editing by Ana Nicolaci da Costa) || Bitfarms Partners with Foundry to Expand Bitcoin Mining Fleet and Join Foundry USA Pool, Instantly Boosts Operating Hashrate By 15%: Bitfarms leverages Foundry’s suite of offerings to purchase and finance the latest generation of Bitcoin mining machines that commenced operations on April 23, 2021.
ROCHESTER, N.Y., April 23, 2021 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (“Bitfarms”) (TSXV:BITF / OTC:BFARF), and Foundry Digital LLC (“Foundry"), a wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking, jointly announce Bitfarms’ purchase of 2,465 Whatsminer M30S Bitcoin mining machines through Foundry’s services, among other updates.
FoundryPartnership
Of the 2,465 machines, the first 1,465 were previously installed in Bitfarms’ Sherbrooke facility in Q3 2020 for hosting. With the purchase of these machines, Bitfarms has ended its last hosting agreement and returned 100% of installed power capacity for its own Bitcoin production. Collectively, these machines have increased Bitfarms’ operating hashrate by 133 PH/s.
The global chip shortage and Bitcoin’s rising price continue to squeeze the supply of Bitcoin mining machines. Standard lead times for orders of latest generation machines currently range from 8 - 12 months and require down payments of 50-100% of the purchase price.
In light of this, Foundry, the market leader for mining equipment financing in North America, has formed strategic partnerships with the world’s leading Bitcoin mining manufacturing companies to secure earlier access to machines for its clients. Foundry has already helped to procure nearly half of the Bitcoin mining machines installed in North America in 2020.
The purchase and financing of the first 1,465 machines through Foundry’s financing services enabled Bitfarms to immediately increase its operating hashrate by 11% with only a 10% down payment of approximately US$1 million. With current hardware prices being at record highs, financing has become a crucial component for Bitfarms to grow its operating hashrate with minimal cash outflows. With prevailing economics, Bitfarms expects to recover its initial deposit in under a month, and this equipment is expected to generate positive cash flows for another 3 to 5 years.
Under similar terms, Bitfarms will obtain financing to purchase an additional 1,000 Whatsminer M30S machines. These machines will produce 90 PH/s and are scheduled to be delivered in three shipments of 300-400 units in September, October and November. In addition, Foundry commits to providing Bitfarms with a US$10 million equipment financing credit facility in early 2022 to help finance the acquisition of new machines.
Bitfarms is also pleased to join the Foundry USA Pool. This marks the first time Bitfarms has used a North America based pool. In addition to providing the same amount of revenue for Bitfarms via a full-pay-per-share (FPPS) model, the pool also has a number of powerful management, auditing and reporting capabilities which will give Bitfarms greater insight and control over its most precious asset, its hashrate.
“We are excited to partner with an industry-leading provider of equipment financing to secure timely and reliable access to the latest generation of Bitcoin mining machines, and to continue to grow our business,” said Emiliano Grodzki, CEO of Bitfarms.
“We are pleased to provide Bitfarms, which is a leading Bitcoin mining company in North America, with equipment financing and a mining pool that has been designed to help publicly traded companies such as Bitfarms scale their operations locally and in a fully compliant manner,” said Mike Colyer, CEO of Foundry.Miner Rehabilitation Update
On April 16th, Bitfarms announced the start of a ‘miner rehabilitation program’ for 80 PH/s of older and mid-generation Bitcoin mining machines. Bitfarms is pleased to announce that over half of those machines have now been repaired, restoring over 40 PH/s and increasing Bitfarms’ installed operating hashrate to 1.38 EH/s — the largest currently reported in North America by a public company.
About Foundry
A subsidiary of DCG, Foundry is a financing and advisory company focused on digital asset mining and staking. With the mission of empowering decentralized infrastructure for a digital world, Foundry provides North American digital asset mining businesses with capital and intelligence. Foundry is based in Rochester, NY. For more information, please visitfoundrydigital.com.
About Bitfarms
Bitfarms was founded in 2017 and is a Bitcoin mining company. It runs vertically integrated mining operations with onsite technical repair, data analytics and engineers to deliver high performance and uptime of operations.
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. Bitfarms is currently listed as a Rising Star by the TSX-V and is in the process of seeking a second listing which would be on the Nasdaq.
Bitfarms has a diversified production platform with five industrial scale facilities located in Québec. Each facility is 100% powered with environmentally friendly hydro power and secured with long-term power contracts. Bitfarms is currently the only publicly traded pure-play mining company audited by a Big Four audit firm.
To learn more about Bitfarms’ events, developments and online communities:
Website:www.bitfarms.comhttps://www.facebook.com/bitfarms/https://twitter.com/Bitfarms_iohttps://www.instagram.com/bitfarms/https://www.linkedin.com/company/bitfarms/
Defined Terms
EH/s: Exahash per second.PH/s: Petahash per second.w/TH: Watt per Terahash.
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) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company is 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 resulting significant negative impact on the Company’s operations, the construction and operation of expanded blockchain infrastructure as currently planned, and the regulatory environment of 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 reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors that could impact future results of the business of Bitfarms include, but are not limited to: the construction and operation of blockchain infrastructure may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions, the ability to complete current and future financings, any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings onwww.SEDAR.comincluding the annual information form for the year ended December 31, 2020, filed on April 7, 2021. The Company has also assumed that no significant events occur outside of Bitfarms’ normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Contacts
Investor Relations:
CORE IR+1 516 222 [email protected]
Media Contacts:
FoundryBlocksBridge ConsultingNishant Sharma, Founder and [email protected]
Bitfarms
US Media:Core IRJules Abraham, Director of Public [email protected] GlobalMia Grodsky, Account [email protected]
Québec Media:Ryan Affaires publiquesMarc Duchesne, Directeur / [email protected]
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bayside Corp. Announces the Launch of Vault 51 in Singapore: DALLAS, TX--(Marketwired - Mar 2, 2015) - Bayside Corp. (OTC PINK:BYSD) today announced through its subsidiary company Bitcoinz USA, the official launch of Vault 51, a secure offline storage for Bitcoin in Singapore. Additionally, Bitcoin is also available for sale to consumers in Singapore through the Vault 51 website. The launch is part of the initial steps in the company's Vault 51 international expansion plan in Asia.
Currently, Asia represents 60% of the world population and 20% of the world economy."The launch in Singapore represents an exponential amount of potential for Vault 51's first stop in Asia. In the long run Asia offers many intriguing possibilities as we continue to see the number of merchant adoption grow in that region."-Gordon Johnson, CEO Bayside Corp.
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
BaysideBayside 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 || Discussion On Marijuana Reclassification Back On The Table: The U.S. government’s classification of marijuana as a Schedule I drug has been up for debate for nearly a decade as more and more U.S. states begin to legalize marijuana use for medical purposes.
While studies regarding the drug’s effects on the body are extremely limited, doctors and scientists alike claim that initial research is promising for certain conditions.
Now, a legal dispute in California is bringing the divide in Washington, D.C. into the spotlight and could expedite discussions about reclassification.
Schedule I Classification: ‘Unconstitutional’
Nine men who’ve been accused of illegally growing marijuana on private and federal land are arguing that their charges should be dropped because the drug has been improperly classified by the federal government.
Defense attorneys for the men, who are fighting a penalty of life in prison and a $10 million fine, say the fact that so many states have legalized the drug for medical use makes the government’s Schedule I listing unconstitutional.
Judge Kimberly J. Muller, who is overseeing the proceedings, said she was taking the defense’s argument very seriously and promised to deliver a ruling within 30 days.
Related Link:Is The U.S. Prepared To Legalize Marijuana?
Questions Raised At Federal Level
The California case underscores the growing need for uniform drug policies across the nation.
President Obama has said that the federal government will not interfere with states’ decisions to legalize marijuana and that the Schedule I classification will be evaluated in the future.
The president also expressed concern over the steep penalties assigned to people facing drug charges, but the deep divide in Washington over whether or not marijuana should be made legal has kept policymakers from making any changes at the federal level.
See more from Benzinga
• Apple Store To Offer Weed App Once Again
• Top Wall Street Executives To Gather At White House Cybersecurity Summit
• New York Could Become First City To Accept Bitcoin
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Silk Road Bitcoin Auctions Prove There's Still An Interest In Cryptocurrency: On Thursday March 5, the U.S. Marshals Serviceauctionedoff around $13.9 million worth ofbitcoinsseized 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. || PayStand Launches First Mobile POS App for Credit Card, Check and Bitcoin Payments, Lowering Rates for Merchants: SCOTTS VALLEY, CA--(Marketwired - Mar 26, 2015) -PayStand, a next-generation payment platform, today announced the release of their mobile app in the Apple App Store, making it the first all-in-one mPOS (mobile point of sale) solution in the US to enable credit card, check and Bitcoin payments. Merchants on the PayStand platform can now accept payments on their iPhones at brick-and-mortar locations and out in the field, giving them significantly lower transaction rates than existing POS systems. The PayStand mobile app is a being offered as an extension of its innovative Payments-as-a-Service platform to provide flexible online checkout and payments for a flat monthly subscription instead of a complex fee structure.
"Mobile credit card payments are proliferating at the point of sale, but the fees involved have gotten too expensive for merchants," says PayStand founder and CEO Jeremy Almond. "Why should credit card processors take such a big cut off the top of a business' revenues? By offering alternative payment options like check capture and Bitcoin which are zero-percent, we're taking a big step toward our goal of eliminating merchant transaction fees."
Free card reader and photo check capture
The PayStand mobile app enables credit card payments via a card reader that fits in the audio jack of the iPhone. Merchants can swipe customers' Visa, Mastercard or American Express cards, or offer one of the app's alternative payment methods. To process a check payment, the merchant simply takes a photo of the paper check, directly debiting the consumer's bank account without any trips to the bank. To accept Bitcoin, the app displays a unique QR code which the consumer scans to pay with the funds routed to the merchant's Bitcoin wallet.
"With our mobile app, PayStand is bringing the same ease-of-use, flexibility and cost-savings to retailers at the point of sale as we provide for online merchants," said Jeremy Almond, CEO, PayStand. "We're giving merchants a single dashboard for managing all their payments, and a path to zero transaction fees."
Lower fees through community and choice
PayStand launched almost a year ago with a Payments-as-a-Service business model which for a flat monthly subscription gives merchants all the tools they need to accept credit cards, eChecks and Bitcoin directly on their websites and social media pages. Unlike other payment processors, PayStand does not mark up transaction fees, but rather aims to give subscribers the lowest possible credit card rates and alternative zero-percent payment options. As the PayStand subscriber base grows, the company is negotiating progressively lower credit card rates which are automatically passed on to customers in a process they call "rate sourcing."
PayStand has lowered its credit card rate (currently at 2.49% for Visa/MC/AmEx) four times in the past twelve months, and is planning another drop in Q2 2015. "We leverage the power of community to drive down costs for our merchants," says Almond. "In the past it's been the big banks and credit card processors who have dictated fees, but by empowering merchants to join together, we're starting to turn the tables on the old system."
The free app is currently available on the App Store and the PayStand card reader is shipped on request. Merchants must first create a PayStand account on their website to accept payments with the app.
For more information about PayStand, visitwww.paystand.com.
Images here:https://www.flickr.com/photos/96020427@N07/sets/72157649084142484/
About PayStandPayStand is a next-generation payment solution that empowers merchants to transact anywhere and keep more of their revenues. Their Payments-as-a-Service platform leverages the latest advancements in Internet, mobile and Blockchain technology to dramatically lower merchant costs. PayStand is backed by top-tier Silicon Valley venture capital firms and is a 2014 TiE50 Start Up winner. For more information, visitPayStand.com. || 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 || Is There Room For Another Cryptocurrency?: On Wednesday, the introduction of LEOCoin made waves as many wondered if it would have enough momentum to compete with the most popular cryptocurrency in the world, bitcoin. The digital currency space has several different competitors, called "altcoins," but none have made as much of an impact of the UK's Learning Enterprises Organization's LEOCoin. What's The Big Deal? LEOCoin's unveiling was a game-changer for many cryptocurrency enthusiasts as the company launching the altcoin claims it already has enough support to make it the second largest cryptocurrency in the world after bitcoin. The Learning Enterprise Organization provides executive education services that span a wide range of industries and the firm says its rolodex of customers provided a great springboard for LEOCoin. Set to debut on April 2, LEOCoin is rumored to have 131,176 businesses already on board with using it. Related Link: Is Regulation A Help Or Hindrance To Bitcoin? What's The Difference? LEOCoin co-founder Dan Andersson says his cryptocurrency is based on newer technology than that which powers bitcoin. The advantage to using LEOCoin, Andersson claims, is the currency's ability to facilitate real-time transactions without any commission fees. He expects that bitcoin and LEOCoin will lead the digital currency market together in the coming years. What Does Bitcoin Have To Say? Some bitcoin enthusiasts believe that there are already too many altcoins on the market and say LEOCoin is just adding to the white noise in the cryptocurrency space. However, others believe that LEOCoin's introduction will be beneficial to the digital currency industry as a whole since its introduction could help push mainstream adoption. See more from Benzinga Financial Firms Like LearnVest And Robinhood Looking To Rope In Millennials U.S. Investors Look Abroad For Better Deals Here Come The Net Neutrality Lawsuits... © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Hong Kong lawmakers urge ban on bitcoin as scam victims turn to police: By Michelle Price and Lizzie Ko HONG KONG (Reuters) - Hong Kong lawmakers on Wednesday urged authorities to ban bitcoin as more than 25 people flocked to police headquarters to complain over a scam involving the digital currency that media estimate could have duped investors of up to $387 million. The government should clamp down on bitcoin, said lawmakers Leung Yiu-chung and James To, who accompanied the complainants, among them Nepalese and mainland Chinese, as well as Hong Kong citizens. "The government should not just stand aside," Leung told reporters. "It's simply not enough to just ask people to exercise caution when investing ... it has to ban the circulation of such virtual currency in the market." His comments came in the wake of a statement by the Hong Kong Monetary Authority urging people "to exercise extra caution when considering making transactions or investments with Bitcoin". The company at the centre of the scam, MyCoin, describes itself on its website as a "leading global Bitcoin trading platform and application service provider". Telephone calls to MyCoin in Hong Kong could not be connected on Wednesday. Calls to its China customer service line were not answered. MyCoin promised clients a return of HK$1 million ($128,966) over a 4-month period, based on a HK$400,000 investment that would produce 90 bitcoins on maturity, the South China Morning Post reported on Monday. It claimed to have 3,000 customers investing an average of HK$1 million each, the paper said. Investors said they had been lured to the scheme by real estate brokers, insurance agents, and legal clerks. "Clients seem not to be the young, savvy bitcoin crowd, but older, less savvy investors," said Leonhard Weese, president of the Bitcoin Association of Hong Kong, whose help has been sought by victims. "Many are embarrassed." A police official declined to say how many complaints had been made, but said a statement would be issued. Bitcoins are created through a "mining" process that uses a computer's resources to perform millions of calculations. Story continues Advocates say the virtual currency is revolutionary as it is not controlled by a central bank. But the rising popularity of bitcoin, unregulated in many places including Hong Kong, has stoked concern it can be used as a vehicle to launder money and finance militant groups. A middle-aged woman, who identified herself as Grace, said she had re-mortgaged her apartment to invest HK$ 1.6 million with MyCoin to realise her dream of setting up her own company. "Now I don't even dare tell my husband." she said. ($1=7.7540 Hong Kong dollars) (Additional reporting by Anne Marie Roantree; Editing by Clarence Fernandez) || 'Days Felt Like Years': What Morgan Spurlock Found When He Tried to Survive on Bitcoin for a Week: Morgan Spurlock ate nothing but McDonald’s slop for 30 days straight and didn’t die. Surely he can live on bitcoin alone for a week and survive.
That’s what theSuper Size Medirector and star attempted to do in last night’s installment ofMorgan Spurlock Inside Man, his docu-series on CNN. And, for the most part, he succeeded, give or take a missed meal or a few.
Related:'Super Size Me' Filmmaker Is Producing a New Web Series on Entrepreneurship
“I’m pretty much like everyone else,” the handlebar-moustached host said at the top of the episode, filmed last year when a single bitcoin was still worth around $630. “I’ve heard the news stories of bitcoin, but I really don’t know what it is.” The 44-year-old documentarian is far from alone there.A full three-quarters of Americans still don't know what the world’s first digital currency isand they have zero interest in using it, a recent study found.
Of course, before Spurlock could use bitcoin, he had to get his hands on some first, which he quickly accomplished at the buzzingBitcoin Center NYC, not accidentally “just a stone’s throw from the New York Stock Exchange and Wall Street.” There, in a “sweaty” throng that he described as a “really smart guys’ frat party,” he acquired his first bitcoin using an Android phone and a bitcoin wallet app calledAegis Wallet. (Oddly, the app’s website is nowMIA.)
Spurlock forked over what looked like $630 for one BTC. Man, those were the days. One bitcoin is now worth around $242, perCoinDesk.
Related:Why This Internet Pioneer Believes Bitcoin Has the Power to Break the Cycle of Poverty
Next, with a new “invisible” chunk of virtual cash burning a hole in his pocket, Spurlock sets out to “see what it can do.” But first he explained, aided by cool animations, that bitcoin is “just like any other currency,” except it requires no middle man and is anonymous, “well, sort of.”
But back to spending that fresh, hot BTC...starting with a fresh, hot slice of margherita pizza and a bottle of water. With a scan of his bitcoin wallet QR code on his smartphone screen, Spurlock scored both forms of sustenance from a bitcoin-friendly neighborhood pizzeria. The meal total: $5.27 or .0083 BTC. Success. “It was so easy! Look at that. Pow! I’m the king of bitcoin,” he boasted before digging in. Given itscheesy bitcoin history, pizza was an apropos first purchase.
Related:50 Insane Facts About Bitcoin (Infographic)
Spurlock’s mellow bitcoin odyssey then takes him to a Brooklyn bodega, where he bought $42.72 worth of groceries in the cryptocurrency. The store owner said he clocks about 1,000 bitcoin transactions at his produce shop per month and that he prefers bitcoin payments to credit card payments. Why? Because they’re cheaper, safer and there’s no chargebacks, the shopkeeper said.
Not all shopkeepers are so keen on the virtual money, though. Several Spurlock tried to pay in bitcoin had never heard of it before. He also comes up cold when trying to pay his Time Warner cable bill and several other bills in bitcoin.
Midway through the show, Spurlock gets around to digging into the seedy underbelly of bitcoin and the growing fears of fraud plaguing the controversial currency in the wake of the fall of Mt. Gox and Ross Ulbricht’s recentconviction. To get some answers, he talked with legendary white-hat hacker Dan Kaminsky, Senator Joe Manchin (D-West Virginia), bitcoin booster Andreas Antonopoulos and Chris Tarbell, a former FBI agent who assisted in the takedown of Silk Road. With a reluctant guiding hand from Tarbell, Spurlock scored a “Faux-lex,” a fake Rolex Submariner on the now defunctSilk Road 2.0. The illegal knockoff, “possibly taken from someone’s house earlier today,” Tarbell mused, totaled about .45 BTC (or about $285), express shipping and handling from Hong Kong included.
Related:Bitcoin in 10 Years: 4 Predictions From SecondMarket's Barry Silbert
Spurlock’s journey eventually lands him atCoinminer, a bitcoin mining operation. He traveled to the startup’s Geneva, N.Y. factory, after buying plane tickets to nearby Rochester with BTC on Expedia (and showed his entire bitcoin wallet address to the world in the process). He put together bitcoin mining processors at Coinminer for about a $200 day’s pay, paid out in, yep, bitcoin. By the end of his shift, he knew the basics of bitcoin’s blockchain backbone and his stomach was growling, but his hunger would not be satisfied in Geneva. Highlighting bitcoin’s continued lack of mass adoption, Spurlock wasn’t able to find one restaurant that accepted the nascent crytpocurrency.
Related:U.S. Marshalls to Auction 50,000 Bitcoins From Silk Road
“OK, so maybe I overestimated the popularity of bitcoin just a little bit,” he admitted, “and, in time, some of these restaurants might start accepting bitcoin, but not until it becomes immensely more popular...All I wish is that I could actually, like, eat bitcoin because I’m starving.”
In the end, Spurlock said trying to live off of bitcoin for a few days felt like years. Hey, at least he didn’t gain 25 pounds and nearly blow out his liver like he did inSuper Size Me. Check back with him after the world super sizes bitcoin, which could be a few decades, at least.
Related:16 Startup Trends That Will Be Huge in 2015 || March market madness?; Lumber Liquidators' shellacking; Warren Buffett successor hints: Stocks (^GSPC) were mixed in early trading after some disappointing economic data. U.S. consumer spendingfellfor a second consecutive month in January, falling 0.2% after declining 0.3% in December. Personal Income rose 0.3%. That was less than the 0.4% increase economists were expecting.
Among the stocks the Yahoo Finance team will be watching for you today: Lumber Liquidators (LL). Shares were falling sharply in early trading following a story about the company on CBS's "60 Minutes" last night. The show reported that the retailer's hardwood flooring from China contains levels of cancer-causing formaldehyde that exceeds California safety limits. Lumber Liquidators says its products meet safety standards.
Meantime, shares of NXP Semiconductors (NXPI) are soaring in early trading. The Dutch chipmaker is buying rival Freescale Semiconductors (FSL) for nearly $12 billion. The deal will make NXP the world's biggest supplier of microchips in the auto industry. Freescale Semiconductor shares are also higher on the news.
Get the Latest Market Data and News with the Yahoo Finance App
In more M&A news, we're watching Endo International (ENDP). The healthcare firm based in Dublin is selling its men's and prostate health business to Boston Scientific (BSX) for $1.65 billion.
Sticking in the health field, shares of Johnson and Johnson (JNJ) are gaining. J&J is selling its Cordis heart device unit to Cardinal Health (CAH) for just shy of $2 billion dollars.
And we're following shares of Costco (COST). The biggest warehouse retailer has a new credit card agreement with Citigroup (C) and Visa (V). Costco and American Express (AXP) are ending their long-standing deal next April.
And we're watching Berkshire Hathaway (BRK-A). It's in the spotlight after Warren Buffett said in his annual shareholder letter this weekend that future growth is unlikely to match the gains of the past, due to the company's size. He also mentions plans for a potential successor but didn't name who will take the reins once the 84-year-old steps down.
We have another company that's making a big announcement. Pharmaceutical company Actavis (ACT) is readying for a more than $20 billion dollar bond sale. This deal is set to be the second biggest in corporate bond history, just behind Verizon's (VZ) $49 billion dollar sale in 2013.
In other investing news, Bitcoin Investment Trust, or BIT, is reportedly slated to become the first publicly traded Bitcoin fund. TheWall Street Journalreports BIT has been racing a fund offered by the Winklevoss twins to launch publicly. || Bitcoin Alternative BURST With Unique Hard Drive Capacity Mining Announces Smart Contracts Available Now: New environmentally friendly cryptocurrency BURST, with unprecedented hard drive capacity mining, is pleased to announce the launch of cryptocurrency Smart Contracts with applications including crowdfunding, auctions, automatic cross-chain transactions, DACs (Decentralized Autonomous Corporations), and much more.
Reno, NV / ACCESSWIRE / February 11, 2015 /BURST, the first Proof of Capacity coin using power efficient hard disk drives for mining is pleased to announce the launch of trust-less Smart Contracts. Users can start writing customer ready Smart Contracts using BURST straight from the wallet. Applications of BURST smart contracts include crowdfunding like Kickstarter, auctions, automatic cross-chain transactions, DACs (Decentralized Autonomous Corporations), and much more.
Smart Contracts enable people to agree on a piece of code ahead of time and trustlessly know that if they submit the code to the network, then it will be completed as requested. Smart Contracts also enable many things to be run on the blockchain which would otherwise have to be individually programmed in, or reviewed by, a core developer and to achieve maximum trustlessness, reviewed by all the miners as well. On the other hand, Smart Contract code can be modified to specifically suit the needs of anyone who wants to run it.
Ethereum became lauded for planning to implement Smart Contracts. However, for over a year now there has been planning and no implementation, in fact they still do not estimate release to be ready for another several months. Counterparty, on the other hand, recently announced they would be implementing Smart Contracts, their phrasing seemed to indicate they already had them working. However, it turned out it is not possible, for example, to send or receive Bitcoin using their Smart Contracts.
Following smart contracts are now available on BURST:
Atomic Cross Chain Transactions, which allow for true decentralized trading between cryptocurrencies. For example, tradeBURST with a coin that provides a mixing service for the purposes of privacy, then send it right back to a new BURST account.
Auctions, where users can auction an item or a service off at a certain starting price. Participants send money to this Smart Contract, and if a user sends more than the previous participant, the previous participant's money is automatically refunded.
Crowdfunding, where it is possible, similar to Kickstarter, to support a project by sending funds to an account. If the account receives enough funds by a certain block, then the project funds are released? otherwise the money is returned to the senders.
Dormant Funds Transfer, where it is possible to get an account dormant for a specified period of time, to automatically forward the balance to another account. This could be useful as a Last Will and Testament and/or backup of funds, in case users lose their password.
Burst is planning to add Autonomous Corporations, Self-mixing and Smart Property Smart Contracts in the near future.
BURST has since its launch in August 2014 been offering cutting edge technology to the community and with the release of the Turing-complete Smart Contracts, the hard drive capacity mining cryptocurrency BURST is a true second generation cryptocurrency.
For more information about us, please visithttp://burstcoin.info/
Contact Info:
Name: Jason Crowe, PR & Communications ExecutiveEmail:[email protected]: BurstCoin & ByteEnterprisesAddress: BurstCoin & ByteEnterprises, 9190 Double Diamond Parkway, Reno. NEVADA 89532Phone: +1 (702) 389-5406
SOURCE:BurstCoin & ByteEnterprises
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $115.68 #bitcoin #btc || BTCe Prices
LAST: $220.00
BID: $219.03
ASK: $219.96
VOL: 8933.85 BTC
http://bit.ly/Cryptoticks || LIVE: Profit = $46.36 (8.44 %). BUY B2.48 @ $220.00 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $143.89 #bitcoin #btc || Current price: 272.61€ $BTCEUR $btc #bitcoin 2015-03-15 22:00:04 CET || $224.69 #bitstamp;
$220.00 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || LIVE: Profit = $61.80 (1.66 %). BUY B16.92 @ $218.50 (#BTCe). SELL @ $220.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Current price: 236.5$ $BTCUSD $btc #bitcoin 2015-02-23 00:40:03 EST || 1 #BTC (#Bitcoin) quotes:
$281.00/$281.99 #Bitstamp
$281.00/$281.19 #BTCe
⇢$-0.99/$0.19
$285.75/$285.93 #Coinbase
⇢$3.76/$4.93 || Доброе утро!
Средний курс Биткоин на сегодня: 1.00 BTC = 293.309 USD
Всем отличного начала рабочей недели и прекрасного настроения!
|
Trend: down || Prices: 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
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) View comments || Traders reexamine Nvidia after analyst downgrade: One"Fast Money"trader said he has not lost faith in Nvidia's(NVDA)stock, despite a downgrade from Nomura analystsand a 9 percent tumble on Thursday.
Trader Guy Adami said he likes the graphics chipmaker, because the company is pivoting from gaming to autonomous cars and will become a leader in the space.
Trader Pete Najarian said he prefers Intel(INTC), which he says is a competitor in the artificial intelligence and data center arenas that Nvidia is trying to grow into. He said he would buy Nvidia at $90, a level slightly below the stock's Thursday close of $100.49.
Shares of Nvidia have skyrocketed 218 percent in the last 12 months.
Disclosures:
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
Brian Kelly is long Bitcoin, SLV
Pete Najarian owns calls: AAL, AMJ, AKS, BVN, BZH, C, CCL, CSCO, CHK, CLF COP, CRM, ETP, GE, GDX, GLD, GILD, IBN, INTC, JBLU, HUM, HMY, KORS, KMB, MT, MTW, ORCL, P, PAA, POT, RIO, SVU, SV, UAL, UNP, WFT, WLL, WY, WLC, GLD, UUP, ZIOP LONG: AAPL, BAC, BLL, DLTR, DIS, EBAY, GILD, GM, HAIN, HD, HUM, IBM, INTC, JWN, K, KMI.A, KO, KORS, LUX, MOS, MSFT, MRK, MRVL, RW, RHT. Puts: PJC
Dan Nathan is long XLV March put spread, SPY May put spread, VIX march call spread || Logitech Is Ready To Show It Is Bigger Than Just Computer Mouses: Logitech International SA (USA)(NASDAQ:LOGI) is ready to prove to the world it is more than just a maker of computer mouses.
Moving Beyond The Mouse
According to aBloomberg report, Logitech's stock has quadrupled over the past four years as the company maintained its reputation of providing quality products and accessories for PC and other technologies. But now under the direction of its CEO Bracken Darrell, the company is ready to take itself to thenext level.
Darrell took overLogitechfour years ago, and his goal is to establish the company as a technology company that can tie together TVs, appliances and voice controlled devices.
The executive believes his company is better positioned to win in the growing market over the dominant names in tech likeApple Inc.(NASDAQ:AAPL) andAmazon.com, Inc.(NASDAQ:AMZN). He told Bloomberg that these tech giants don't want to be "in every little puddle around their operating systems," which leaves a void in the market for a company Logitech.
See Also:Logitech Breaks Company Record With Nine iF DESIGN AWARDS in 2017
Logitech's Uphill Battle
Logitech does face an uphill battle, as it devotes less than $150 million annually to fund its research and development. By comparison, Amazon's R&D spend totals $16 billion.
Nevertheless, Darrell wants to leverage the profits Logitech earns from the PC mouse and keyboard business to finance an entry into areas such as voice-controlled devices, video collaboration and augmented-reality games.
Investors may get a sneak peak at the company's plans in April when management hosts a meeting with investors on Tuesday.
Image Credit: By Coolcaesar at the English language Wikipedia, CC BY-SA 3.0, via Wikimedia Commons
See more from Benzinga
• One Of The Top Ranked Financial Advisers Thinks Stocks Can Rise 50% - But Don't Call It A 'Trump Rally'
• For The First Time Ever, One Bitcoin Is More Valuable Than One Ounce Of Gold
• Snap's Unproven Monetization Potential Doesn't Deserve To Trade At A Premium To Facebook
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin makes a big comeback: (A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Bitcoin is making a big comeback. Early selling pushed the cryptocurrency down nearly 4% to $1120 a coin, but buying over the course of the morning has it on session highs, up 3% at $1200 as of 4:22 p.m. ET.
Trade has been volatile over the past couple of sessions amid speculation surrounding the upcoming ETF ruling by the US Securities and Exchange Commission and more regulation out of China.
Bitcoin rallied more than 30% from February 9 to March 3 as traders speculated the SECwill approveat least one of thethree proposed bitcoin-focused exchange-traded fundsby a March 11 deadline. Because that deadline falls on a Saturday, a decision could come on Monday, March 13.
However, bitcoin has come under pressure the last few days.
On Tuesday, the cryptocurrencyplunged $100 in a matter of minutesaftera Bloomberg headline cited a People's Bank of China official as suggesting the recent bitcoin regulation wasn't temporary. It ended up retracing most of those losses before resuming its slide on Wednesday, plunging more than 5% after China's three largest exchanges said they wouldcontinue blocking withdrawalsuntilgranted approval to let them resume by regulators.
Bitcoin is up 25% so far in 2017 after gaining 120% in 2016. It has been thetop performing currencyin each of the last two years.
(Investing.com)
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More From Business Insider
• Bitcoin dives after China's 3 biggest exchanges say they'll keep blocking withdrawals
• Bitcoin plunges sharply and suddenly
• Bitcoin is extending its lead over gold || Flow's Ultimate Football Experience Attracts Top Manchester United Star: MIAMI, FL--(Marketwired - Mar 31, 2017) - When young Jamaican footballers take to the field on April 1 st for the Flow Ultimate Football Experience they'll be joined by Manchester United (Man Utd) Legend and fan favourite, Quinton Fortune who will share words of encouragement and guidance to the youngsters. The tough-tackling midfielder and South African international, earned his place in the hearts of his friends, peers and supporters of Man Utd after a 6-year stint with the club. He's one of several Man Utd Legends who will be present in some of Flow's markets at the skills-based events, leading up to the Flow Ultimate Football Experience Final in Trinidad on May 7 th . During his time at Old Trafford, Fortune displayed an honourable sense of determination and drive, despite being hampered by a string of unfortunate injuries. As part of the club, he earned the Intercontinental Cup (1999) and the FA Community Shield (2003) before moving on to other teams. Like many other former pro footballers, Fortune is not just a player; he's a coach, too. After his retirement in 2010, he spent time training with Man Utd's reserve team while simultaneously working towards his coaching badges, which he received in 2013. Needless to say, Fortune -- who wore number 25 with the Reds -- brings a unique combination of playing experience and coaching acumen to the Jamaican chapter of the Flow Ultimate Football Experience . And not only will the youngsters get expert advice on ways to enhance their performance, they'll also doubtlessly get a fresh boost of energy by simply playing in the presence of one of football's best. Flow and Manchester United's latest region-wide initiative, the Flow Ultimate Football Experience is designed to give youngsters the chance-of-a-lifetime to participate in local talent development football camps across Flow's 15 markets. Two winners from each country will advance to the two-day skills session in T&T to experience one-on-one training with Caribbean Football Union (CFU) and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and compete for the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England to see Man Utd in a Premier League fixture . Story continues Skilled boys and girls between the ages of 13 to 16 can register online at https://discoverflow.co/flowmanutd . Follow Flow Jamaica on Facebook and Twitter @FlowJamaica to track his visit to Jamaica for the Flow Ultimate Football Experience ! " Flow and Manchester United - together we are in a different league ." 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=3125292 || AT&T’s Union Deal Reverses Outsourcing 3,000 Jobs: Amid several more contentious labor negotiations, and its biggest union announced they had settled terms early for a unit that covers 20,000 workers in the south.
The Communications Workers of America and AT&T said they had struck a tentative four-year contract deal for workers in the company’s wired telephone, cable, and Internet business in Arkansas, Kansas, Missouri, Oklahoma and Texas a month before the old contract expired. A key piece of the deal, which still must be approved by the workers, is a promise by AT&T to hire 3,000 people locally for jobs that have been previously outsourced, mostly overseas.
The agreement comes as AT&T is facing tougher talks with the CWA over contracts that have already expired for 21,000 workers in the company’s wireless business and 17,000 workers in the phone, Internet, and cable units in Nevada and California. While negotiations continue in those cases, the workers have been protesting around the country andauthorized a strike, if necessary.
But AT&T has had mostly good relations with its workers in recent years-unlike Communications , which suffereda bitter, seven-week strikelast year.
Friday’s announcement marks another in a long line of successful deals. Since the start of 2015, AT&T has completed 28 straight deals with its unions, covering 123,000 workers. The last strike at the company was in 2012, and just for two days.
Get Data Sheet, Fortune’s technology newsletter.
Under the deal announced on Friday, workers will get wage increases totaling over 11% over the four years and two weeks of paid parental leave for mothers or fathers, AT&T said.
The CWA highlighted that the deal included “affordable” healthcare plans, one of the sticking points in the two more contentious negotiations. But the commitment by AT&T to hire locally for jobs previously outsourced may have been just as important.
Like the Verizon workers who went out on strike, AT&T’s workers have also lately been focused on their employer’s outsourcing of call center jobs outside of the country. The union charges that the carrier has moved 8,000 call center jobs since 2011 to countries including the Dominican Republic, Mexico, and the Philippines.
Halting the offshoring of call center jobs has also been the focus of a growing number of Democratic lawmakers in Congress. They introduced legislation this week, with the backing of the CWA,to discourage call center offshoring, after a plea to President Donald Trump to take such action by executive order was ignored.
AT&T said it committed to hire 3,000 people in the local areas to fill work that is currently mostly performed offshore.
“We worked with the union to bring work opportunities to the region,” a spokesman for the company tellsFortune. “Regarding the type of jobs, we will make those decisions as we work through and evaluate the needs of our business-we will consider all areas of our operations in the Southwest and place them where it makes the most sense.”
See original article on Fortune.com
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• This Amazing Stat Suggests the Trump Bump Will Continue || 'The needle hasn't moved materially': What you need to know on Wall Street right now: (State Street's installation near the Wall Street bull in lower Manhattan.Rachael Levy)
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
State Street Global Advisors, a nearly $2.5 trillion investor, justinstalled a bronze statue of a defiant girl in front of Wall Street's iconic charging bullas part of its new campaign to pressure companies to add more women to their boards.
"There has been a lot of discussion on this topic, but the needle hasn't moved materially," Lori Heinel, the firm's deputy global chief investment officer, told Business Insider after the statue installment, a day ahead of International Women's Day.
In macroeconomic news, President Trumpmight've just gotten the ammo he needs to name China a "currency manipulator,"as he's been promising to do.
In deals,HP Enterprise is buying the flash-storage company Nimble Storagefor $12.50 a share, or about $1 billion.
On Wall Street,shares of Snapchat parent company Snap Inc. tumbled to new lows Tuesday, declining for a second-straight day.
Healthcare stocks were also down Tuesdayafter HouseRepublicans rolled out their new healthcare plan to replace Obamacareon Monday evening.
More on the healthcare bill here:
• The House GOP released their plan to repeal and replace Obamacare, but they didn't say how they'll pay for it
• 'Obamacare 2.0': Conservatives are already revolting against the House GOP's Obamacare plan
• The House GOP plan to repeal and replace Obamacare would effectively defund Planned Parenthood
• 4 GOP senators threw a wrench in the Republican plan to repeal Obamacare before it was even released
• TRUMP: 'Phase 2 & 3' of 'wonderful' healthcare overhaul will come soon
• Top Trump health official puts the administration all in on the House GOP Obamacare plan
• The Republican plan on Obamacare will likely lead to many Americans losing health insurance
Here are the top Wall Street headlines from the past 24 hours.
Stocks are rolling over after a tremendous rally and that's the best thing any bullish investor can wish for right now— The post-election surge in US stocks has lost its steam in March. A big drop might be the best thing that can happen next.
Trump tweets that he's working on a 'new system where there will be competition in the drug industry'—President Donald Trump has big plans for the way we price our drugs.
Bitcoin plunges sharply and suddenly— Bitcoin plunged by more than $100 in a matter of minutes on Tuesday morning.
Gallup's measure of US economic confidence jumps to a record high—Americans' economic optimism surged last week.
Trump may be about to give US automakers their first big win—The US auto industry is happy with Donald Trump.
Russia's inflation plunges to its lowest level in 5 years— Itwas the lowest rate since June 2012.
After interviewing 50 of Wall Street's best investors, Tony Robbins determined 3 investing steps every 20-something must take—Tony Robbins, the performance coach best known for his high-energy seminars, has over the past few years dedicated himself to spreading personal-finance literacy.
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 || This bullish signal has never been wrong — and it’s about to flash for 2017: Critical information for the U.S. trading day
The Dow has nabbed record closes for eight straight sessions — and what about the S&P 500?
The last time that broad index suffered a 1% drop, as detailed in ourstat of the day, it was October and the Cubs still were battling to end their storied World Series drought.
Enough already?
CFRA’s Sam Stovall says he’s looking for a long-overdue “digestion of gains,” though he adds the pause will not likely result in the end of this bull market.
The run will continue, the chief investment strategist writes, thanks in part to improving earnings and inflation staying subdued. In support, he notes one indicator that’s close to getting triggered.
“If you need additional encouragement that a bear market is not just around the corner, history again may offer some more virtual Valium,” says Stovall, who delivers ourcall of the day.
Since 1945, there have been 27 years when the S&P has achieved gains in January and February. The stock index then finished up for the year (on a total-return basis) in every one those years, according to Stovall. That’s going 27 for 27, or batting a thousand.
The average rise in those years was 24%, as shown in his chart below.
CFRA
So that bodes well for 2017 — though the chart’s footnote features that favorite Wall Street caveat: “Past performance is no guarantee of future results.”
Plus, February isn’t over yet, and it’s typically the stock market’s second-worst month of the year. But the S&P is up 3.8% for the month, after rising 1.8% in January.
As Stovall puts it, the first two months can “offer a clue that investors believe that good things still lie ahead.”
Futures for the DowYMH7,-0.05%, S&P 500ESH7,-0.13%and Nasdaq-100NQH7,-0.01%are trading flat to lower, after the DowDJIA,+0.58%, S&PSPX,+0.60%and Nasdaq CompositeCOMP,+0.47%all chalked upall-time closing highs again yesterday.
OilCLJ7,-1.33%is giving backTuesday’s gain. Seethe Market Snapshot columnfor the latest action.
90 straight trading days — That is how long the S&P has gone without closing lower by 1% or more, notes Charlie Bilello, research director at Pension Partners.
The stock gauge ended 1.2% down on Oct. 11 — more than four months ago — and hasn’t clocked out on such a negative note since then.
Bristol-Myers SquibbBMY,+1.13%is gaining premarket following news that billionaire activist investorCarl Icahn has taken a stakein the drug giant.
FacebookFB,-0.15%is reportedlyin talks to stream Major League Baseball games.
First SolarFSLR,-3.30%was among the companies that posted earnings late yesterday. Investors initiallytook a shine to the stock, but now it’s falling.
Names on the earnings docket before the open includedoff-price retailer TJXTJX,+1.01%,Dish NetworkDISH,+1.88%,GPS maker GarminGRMN,+7.83%,cameras company MobileyeMBLY,+3.53%andhome builder Toll BrothersTOL,+7.75%.
TeslaTSLA,+0.94%is among those reporting after the close, as the electric car maker’smarket cap catches up to Ford’sF,-0.24%.
See:Tesla earnings — expect Model 3 updates amid record highs
In political news, federal officials say theTrump administration’s tighter deportation rulesare “not intended to produce mass roundups.” Today, cabinet membersgo to Mexico.
Some Republican lawmakers aresteering clear of town hall events, hoping to avoid anti-Trump protesters. Attendees have held up IDs to provethat they’re real constituents, while thepresident tweetedlate Tuesday that the chaos is “in numerous cases, planned out by liberal activists.”
A report on existing-home sales is due after the opening bell, and Fed Gov. Jerome Powell speaks around halftime.
Minutes from the Fed’s last meeting (when itstood pat) are on tap at 2 p.m. Eastern Time.
ReadMarch, May, or June? Minutes may hold clues on next hike
And see:MarketWatch’s Economic Calendar
“We are probably not going to forecast the next financial crisis, or forecast the next recession. Our models are just not that good.” — Bank of England officialGertjan Vlieghe suggeststhe world’s central bankers have their limits.
See:5 quotes that tell you everything you need to know about forecasting
CoinMarketCap
BitcoinUS:BTCUSDis advancing again this morning, building on yesterday’s jump to its highest level since December 2013.
Call it a Winklerally?
Analysts say the cryptocurrency’s gains come from traders attempting to front-run a regulatory decision on the much-anticipated Winklevoss Bitcoin Trust ETF.
Read all about it:Bitcoin prices touch fresh 3-year high
Later today, NASA is expected to dish on itsbig new find of planets.
An artist plansto entomb himself in a boulder, then sit on eggs until they hatch. He’s French.
Enemies of the people? A newspaper editor gives “a peek behind enemy lines.”
More on that N. Korean assassination: Killers “used nothing but their bare hands.”
Agoalie resignedafter eating a meat pie during a game and sparking#PieGate.
Bavariaplans to ban the full-face veilin schools and other places.
—MrTopStep Grouphttps://mrtopstep.com
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Dont Forget To Subscribe To Our YouTube Channel!Sign Up Here:http://www.youtube.com/mrtopstepgroup || 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'sSLXsteel 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 ETFIEMGhas 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.
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Permalink| © Copyright 2017ETF.com.All rights reserved || 2 Smart Beta ETFs Killing It In Emerging Markets: Smart-beta ETFs don’t always deliver outperformance. Sometimes, however, they do. And spectacularly, too. In the emerging market segment, two fundamental strategies—funds that select and weight securities based on fundamentals—have delivered roughly 70% more returns than plain-vanilla, popular funds in this segment in the past year. The PowerShares FTSE RAFI Emerging Markets Portfolio (PXH) and the Schwab Fundamental Emerging Markets Large Co. Index ETF (FNDE) are each up more than 33% in 12 months. That’s about 14 percentage points more—or roughly 70% more—in returns than the three leading emerging market cap-weighted ETFs in the same period: iShares Core MSCI Emerging Markets ETF (IEMG) is up 19% Vanguard FTSE Emerging Markets ETF (VWO) is up 20% iShares MSCI Emerging Markets ETF (EEM) is up 19% The chart below shows that performance difference: Chart courtesy of Stockcharts.com In terms of an asset base, PXH and FNDE are much smaller than the vanilla giants, which together command more than $100 billion in assets. That often means these funds are less liquid relative to the big three. In all but one case (EEM), these smart-beta funds are also more expensive, with higher expense ratios and often wider trading spreads. Liquidity and costs are important factors for every investor, but particularly for smaller retail investors dealing with smaller trades. Ticker Fund AUM Exp Ratio PXH PowerShares FTSE RAFI Emerging Markets Portfolio $811M 0.49% FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF $1B 0.40% IEMG iShares Core MSCI Emerging Markets ETF $24B 0.14% VWO Vanguard FTSE Emerging Markets ETF $49B 0.14% EEM iShares MSCI Emerging Markets ETF $28B 0.72% Still, these smart-beta funds have delivered a stellar ride in the past year. Fundamental’s Different Tilts PXH and FNDE both hone in on various fundamental metrics to choose and weight securities in the portfolio. In other words, these funds look at companies in terms of relative size rather than market capitalization. Story continues PXH picks stocks based on cash flow, dividends, sales and book value—a classic RAFI fundamental approach. FNDE, too, looks at sales, cash flow and dividends/buybacks in its selection and weighting criteria. This fundamental way of looking at emerging markets, in the end, means two key things: portfolios tend to carry a value tilt, and market price plays no role in the weighting of any given stock. By comparison, market-cap-weighted approaches are all about share price and number of shares outstanding, typically overweighting overpriced stocks and concentrating on hot sectors. Sector Tilts Differ The difference in approaches also translates into portfolios that diverge in sector exposures and country allocations. For example, these five ETFs all show heavy allocation to financials, but these allocations range from 20% to 32% depending on the ETF. The disparity in energy is even more striking. Both fundamental ETFs have about 25% of their portfolios tied to energy, while in the market-cap strategies, energy represents only about 9%. Technology, too, ranges from 8% in PXH to 25% in EEM. Country Allocations Very Different From a country perspective, Brazil leads PXH’s and FNDE’s portfolios, with a 30% and a 19% weighting, respectively. But VWO only allocates 9% to Brazil, and IEMG has Brazil at 7.5%. If you consider that Brazil has been one of the best-performing emerging markets in the past year, it’s easy to see why that performance would have been most felt in the smart-beta funds. The list goes on, and you can see a detailed breakdown of each fund’s sector and country allocations in their respective ETF.com fund pages (just add the ticker at the end of the URL address, such as www.etf.com/PXH ). Smart Beta Not Always Smarter The important thing to remember here is that when it comes to smart-beta ETFs , these funds don’t set out to outperform market-cap-weighted approaches. What they do set out to do is offer investors exposure that’s different from the market, slicing and dicing the equity universe in various ways in an effort to manage some of the inherent biases in market capitalization. In the past 12 months, these two fundamental strategies have left the market-cap giants in the dust. But not that long ago, in 2015 for instance, both PXH’s and FNDE’s value tilt and sector/country differences underperformed IEMG, VWO and EEM. That’s a reminder that smart-beta ETFs aren’t any smarter than market-cap weighting. They are merely alternatives to market cap that sometimes translate into outsized gains, and sometimes into outsized losses. 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
[Random Sample of Social Media Buzz (last 60 days)]
Sberbank CEO: Commercial Blockchains Just Two Years Away #BitcoinNewshttp://www.coindesk.com/sberbank-ceo-blockchains-two-years/ … || New post: Is Bitcoin Forming a New Price Floor at $1,000? http://www.cryptocoins4you.net/2017/02/16/is-bitcoin-forming-a-new-price-floor-at-1000/ … #Bitcoin #free #ltc || Giphy made 2,000 GIFs to help you learn sign language http://engt.co/2lSqNBY pic.twitter.com/BSvQTWrb1q #btc http://cur.lv/14n6mv || 18:00~19:00時点のBitcoin市場はしっかりだったのかな。
20:00はしっかり?
【AIによるコメントです:テスト中(勉強中です)@パターンB】#BitCoin
#AI
#モデリング || Bitcoin Community Alert: How Scammers Monetize Traders’ Fears and Greed http://buff.ly/2l06KQc #bitcoin #scams || GBTC going down while Bitcoin going up: Sign that ETF will be approved. http://ift.tt/2ku0h17 || #Bitcoin last trade
@bitstamp $1038.02
@coinbase $1044.86
Set #crypto #price #alerts at http://AlertCo.in || Bitcoin Investor Roger Ver to Push for OKCoin Liquidation in Court - CoinDesk http://dlvr.it/NPhCz7 #bitcoin #news || $1043.49 at 04:30 UTC [24h Range: $1017.14 - $1046.00 Volume: 8490 BTC] || 08Mar2017 06:00 UTC #Bitcoin #Blockchain status - Last 24h: 157 blocks mined - 2,210,134 BTC output - 328,789 transactions
|
Trend: up || Prices: 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-02-28]
BTC Price: 43193.23, BTC RSI: 58.66
Gold Price: 1899.40, Gold RSI: 61.90
Oil Price: 95.72, Oil RSI: 65.34
[Random Sample of News (last 60 days)]
HIVE Blockchain Announces Webcast Details for Q3 F2022 Results on Tuesday, February 15, 2022: Vancouver, British Columbia--(Newsfile Corp. - February 14, 2022) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the "Company" or "HIVE") announces that management will host a webcast on Tuesday, February 15, 2022, at 8:30 a.m. Eastern Time to discuss the Company's financial results for the three and nine months ended December 31, 2021. Financial data for the quarter will be released prior to the webcast. The Company urges investors to sign up today and participate in the webcast. Frank Holmes, Executive Chairman; Darcy Daubaras, Chief Financial Officer; and Aydin Kilic, President and Chief Operating Officer, will present on the webcast. IMPORTANT - Click here to register for the annual results webcast. HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020. We encourage you to visit HIVE's YouTube channel here to learn more about HIVE. For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com . Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel . Story continues On Behalf of HIVE Blockchain Technologies Ltd. "Frank Holmes" Executive Chairman For further information please contact: Frank Holmes Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113767 || Riot Blockchain One of The Best Ways to Gain Bitcoin Exposure Says Cantor: By Sam Boughedda Investing.com — Riot Blockchain Inc (NASDAQ:RIOT) was started with a buy at Cantor Fitzgerald on Tuesday, resulting in a 3% gain in its share price. Analyst Mike Colonnese — who also put a $45 price target on the stock — explained that RIOT is one of the best ways for investors to gain exposure to Bitcoin without directly owning the digital asset because the company holds most of its Bitcoin on its balance sheet. "Riot Blockchain is one of the largest, vertically integrated cryptocurrency mining companies in North America with 350 MW of developed Bitcoin (BTC) mining capacity and a deployed fleet of nearly 30,000 Bitcoin miners producing an aggregate hash rate of 3 exahash per second (EH/s)," said Colonnese. "This means that RIOT is currently capable of mining ~16-17 Bitcoin per day, on average, which equates to ~$825,000 in daily Bitcoin mining revenue (assuming BTC price of $50,000),"he added. Cantor believes RIOT is in a unique position to continue to gain a share of the Bitcoin mining industry in 2022 and further afield. The company plans to more than double its developed mining capacity to 750 MW by the second quarter and triple its total hash rate to 9 EH/s by the end of this year. Related Articles Riot Blockchain One of The Best Ways to Gain Bitcoin Exposure Says Cantor Disney Named Top Large-Cap Growth Idea At Wells Fargo Biden hails 5G wireless deal averting aviation safety crisis View comments || MicroStrategy Buys Additional $25M Worth of Bitcoin During Market Dip: MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that has taken to accumulating bitcoin, said it bought approximately 660 bitcoins for around $25 million between Dec. 30, 2021, and Jan. 31, 2022. The company paid an average price of $37,865 per bitcoin, it said in a statement . The 660 BTC acquired across the 32-day period equates to an average of 21 a day. That's a markedly lower rate than in December, when the firm bought 1,914 in the 20 days ended Dec. 29 – an average of 96 a day – and that was itself slower than the 1,434 bitcoin it bought in the first nine days of the month. The slowdown may point to MicroStrategy exercising greater caution in its bitcoin acquisitions given the market's recent downturn. The world's largest cryptocurrency by market capitalization hit a record high near $69,000 in November and is now trading around $39,000. Tysons Corner, Va.-based MicroStrategy now holds a total of 125,051 bitcoins, valued at about $4.8 billion at the current bitcoin price of $38,700. Shares of MicroStrategy have fallen around 34% over the last month. CEO Michael Saylor has been insistent that the company has no plans to sell its bitcoin holdings and is invested the long term. Read more : SEC Objects to MicroStrategy’s Accounting Adjustment for Its Bitcoin Holdings UPDATE (Feb. 1, 13:27 UTC) : Corrects dates in the first paragraph to Dec. 30, 2021 and Jan. 31, 2022. UPDATE (Feb. 1, 14:39 UTC): Adds rate of purchases in the second and third bullet points. View comments || Gratus Capital LLC Buys Fidelity Total Bond ETF, Unity Software Inc, Elastic NV, Sells Vanguard ...: Investment companyGratus Capital LLC(Current Portfolio) buys Fidelity Total Bond ETF, Unity Software Inc, Elastic NV, Artisan Partners Asset Management Inc, Uber Technologies Inc, sells Vanguard Short-Term Inflation-Protected Securities, VF Corp, AT&T Inc, Block Inc, 3M Co during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Gratus Capital LLC. As of 2021Q4, Gratus Capital LLC owns 204 stocks with a total value of $1.1 billion. These are the details of the buys and sells.
• New Purchases:FBND, ESTC, APAM, UBER, NCNO, ALLO, INFI, AFL, ROP, VMC, LRCX, SCHP, DVY, TJX, EXPD, COP, AZN, WTRG,
• Added Positions:U, FB, IEFA, MTCH, KO, AMZN, BRK.B, IWF, COST, MINT, JNJ, HD, WMB, GOOGL, NVDA, MSFT, KLAC, SBNY, AVGO, BX, IQV, ABBV, INTU, PING, RTX, MS, RSG, TGT, PFE, LYB, APO, VIRT, SHOP, DTM, PSX, DT, AAPL, PANW, ZS, ETRN, QCOM, COKE, CCI, JPM, DUK, EFX, HAS, ELY, CME, PUBM, DTE, AVLR, IP, LMT, MDT, VZ, VEA, IBM, GPC, ITW, SCHX, SCHG, BAC, AX, SDY, VIG, IVV, XLK, FNDF, DIA, EGP, LLY, GOOG, GSK, INTC, MRK, NBN, NVO,
• Reduced Positions:VTIP, T, MMM, JPST, FNDX, ABT, VOO, MCD, Y, FNDE, FNDA, ZBRA, SO, GGG, GPN, LOW, STIP, MDXG, EMR, ETN, IGRO, IWD, JMST, AON, BMY, CERN, FAST, UPS, TXN, PEP,
• Sold Out:VFC, SQ, AMRN, RAVN, SLVM, PLTR, F, KD,
• Warning! GuruFocus has detected 2 Warning Sign with U. Click here to check it out.
• U 15-Year Financial Data
• The intrinsic value of U
• Peter Lynch Chart of U
For the details of Gratus Capital LLC's stock buys and sells,go tohttps://www.gurufocus.com/guru/gratus+capital+llc/current-portfolio/portfolio
These are the top 5 holdings of Gratus Capital LLC
1. BTC iShares Core MSCI EAFE ETF (IEFA) - 760,654 shares, 5.26% of the total portfolio. Shares added by 7.57%
2. iShares Russell 1000 Growth ETF (IWF) - 153,003 shares, 4.33% of the total portfolio. Shares added by 4.93%
3. iShares Core Dividend Growth ETF (DGRO) - 746,415 shares, 3.84% of the total portfolio. Shares added by 0.56%
4. Invesco Ultra Short Duration ETF (GSY) - 635,275 shares, 2.96% of the total portfolio. Shares added by 0.70%
5. Microsoft Corp (MSFT) - 76,360 shares, 2.38% of the total portfolio. Shares added by 3.45%
New Purchase: Fidelity Total Bond ETF (FBND)
Gratus Capital LLC initiated holding in Fidelity Total Bond ETF. The purchase prices were between $52.57 and $53.35, with an estimated average price of $52.91. The stock is now traded at around $51.880000. The impact to a portfolio due to this purchase was 2.31%. The holding were 469,481 shares as of 2021-12-31.
New Purchase: Elastic NV (ESTC)
Gratus Capital LLC initiated holding in Elastic NV. The purchase prices were between $110.55 and $186.78, with an estimated average price of $150.73. The stock is now traded at around $93.250000. The impact to a portfolio due to this purchase was 0.84%. The holding were 73,811 shares as of 2021-12-31.
New Purchase: Artisan Partners Asset Management Inc (APAM)
Gratus Capital LLC initiated holding in Artisan Partners Asset Management Inc. The purchase prices were between $43.14 and $52.02, with an estimated average price of $47.98. The stock is now traded at around $43.210000. The impact to a portfolio due to this purchase was 0.8%. The holding were 181,025 shares as of 2021-12-31.
New Purchase: Uber Technologies Inc (UBER)
Gratus Capital LLC initiated holding in Uber Technologies Inc. The purchase prices were between $35.73 and $48.36, with an estimated average price of $43.04. The stock is now traded at around $37.400000. The impact to a portfolio due to this purchase was 0.78%. The holding were 200,241 shares as of 2021-12-31.
New Purchase: Ncino Inc (NCNO)
Gratus Capital LLC initiated holding in Ncino Inc. The purchase prices were between $48.39 and $76.76, with an estimated average price of $64.62. The stock is now traded at around $45.830000. The impact to a portfolio due to this purchase was 0.52%. The holding were 101,741 shares as of 2021-12-31.
New Purchase: Allogene Therapeutics Inc (ALLO)
Gratus Capital LLC initiated holding in Allogene Therapeutics Inc. The purchase prices were between $13.13 and $24.38, with an estimated average price of $17.52. The stock is now traded at around $11.450000. The impact to a portfolio due to this purchase was 0.27%. The holding were 191,871 shares as of 2021-12-31.
Added: Unity Software Inc (U)
Gratus Capital LLC added to a holding in Unity Software Inc by 215.76%. The purchase prices were between $119.85 and $201.12, with an estimated average price of $153.56. The stock is now traded at around $105.150000. The impact to a portfolio due to this purchase was 1.62%. The holding were 179,113 shares as of 2021-12-31.
Added: Meta Platforms Inc (FB)
Gratus Capital LLC added to a holding in Meta Platforms Inc by 1673.63%. The purchase prices were between $306.84 and $347.56, with an estimated average price of $332.02. The stock is now traded at around $313.260000. The impact to a portfolio due to this purchase was 0.41%. The holding were 13,923 shares as of 2021-12-31.
Added: Match Group Inc (MTCH)
Gratus Capital LLC added to a holding in Match Group Inc by 85.15%. The purchase prices were between $122.81 and $175.53, with an estimated average price of $144.36. The stock is now traded at around $112.700000. The impact to a portfolio due to this purchase was 0.36%. The holding were 63,335 shares as of 2021-12-31.
Added: Coca-Cola Co (KO)
Gratus Capital LLC added to a holding in Coca-Cola Co by 123.82%. The purchase prices were between $52.3 and $59.21, with an estimated average price of $55.76. The stock is now traded at around $61.010000. The impact to a portfolio due to this purchase was 0.27%. The holding were 88,089 shares as of 2021-12-31.
Added: Amazon.com Inc (AMZN)
Gratus Capital LLC added to a holding in Amazon.com Inc by 59.40%. The purchase prices were between $3189.78 and $3696.06, with an estimated average price of $3427.48. The stock is now traded at around $2991.470000. The impact to a portfolio due to this purchase was 0.25%. The holding were 2,179 shares as of 2021-12-31.
Added: Berkshire Hathaway Inc (BRK.B)
Gratus Capital LLC added to a holding in Berkshire Hathaway Inc by 40.58%. The purchase prices were between $273.64 and $300.17, with an estimated average price of $286.71. The stock is now traded at around $313.020000. The impact to a portfolio due to this purchase was 0.24%. The holding were 30,165 shares as of 2021-12-31.
Sold Out: VF Corp (VFC)
Gratus Capital LLC sold out a holding in VF Corp. The sale prices were between $66.98 and $78.01, with an estimated average price of $73.11.
Sold Out: Block Inc (SQ)
Gratus Capital LLC sold out a holding in Block Inc. The sale prices were between $158.3 and $265.08, with an estimated average price of $215.58.
Sold Out: Amarin Corp PLC (AMRN)
Gratus Capital LLC sold out a holding in Amarin Corp PLC. The sale prices were between $3.24 and $5.18, with an estimated average price of $4.11.
Sold Out: (RAVN)
Gratus Capital LLC sold out a holding in . The sale prices were between $57.58 and $58.08, with an estimated average price of $57.83.
Sold Out: Sylvamo Corp (SLVM)
Gratus Capital LLC sold out a holding in Sylvamo Corp. The sale prices were between $24.8 and $33.1, with an estimated average price of $29.08.
Sold Out: Palantir Technologies Inc (PLTR)
Gratus Capital LLC sold out a holding in Palantir Technologies Inc. The sale prices were between $17.96 and $26.75, with an estimated average price of $21.99.
Here is the complete portfolio of Gratus Capital LLC. Also check out:1. Gratus Capital LLC's Undervalued Stocks2. Gratus Capital LLC's Top Growth Companies, and3. Gratus Capital LLC's High Yield stocks4. Stocks that Gratus Capital LLC keeps buyingThis article first appeared onGuruFocus. || Bitcoin could tumble below $30,000 this year as the crypto bubble pops, Invesco says: • Bitcoin could fall below $30,000 in 2022 as air leaves the crypto bubble, Invesco said in its "improbable but possible" forecasts.
• Invesco strategist Paul Jackson said the marketing around bitcoin reminds him of the run-up to the 1929 crash.
• If bitcoin follows the trend of other manias, then a rocky couple of years lie ahead, he predicted.
Bitcoincould tumble below $30,000 this year as the air comes out of the crypto bubble, according to Invesco's list of "improbable but possible" outcomes for 2022.
"The mass marketing of bitcoin reminds us of the activity of stockbrokers in the run-up to the 1929 crash," Paul Jackson, the US investment company's global head of asset allocation, said in a note Monday.
"We think it is not too much of a stretch to imagine bitcoin falling below $30,000 this year," Jackson said, adding he believes there's at least a 30% chance of it happening.
Bitcoin soared in 2021 from around $33,000 at the start of the year to as high as $69,000 in November, before falling to end the year at roughly $46,000. The world's first and biggest cryptocurrency has since slumped further to trade at around $42,319 as of Monday, according to prices on the Bitstamp exchange.
Jackson said bitcoin could be seen as a financial mania, meaning steep losses could soon be on their way.
Read more:2022 bitcoin price outlook: Here are the price targets set by top analysts from Goldman Sachs, JPMorgan, and other leading Wall Street banks so far this year
"A loss of 45% is experienced in the 12 months after the peak of a typical financial mania," he wrote.
If bitcoin follows that pattern, its price will fall to between $34,000 and $37,000 by October. But Jackson said a steeper drop is possible, and the digital asset could slip below $30,000.
But that scenario is far from certain, the Invesco strategist cautioned. "Last year, we spoke of bitcoin falling below $10,000, but instead it reached a peak of around $68,000," he noted.
Yet there are growing signs that investors are worried about the outlook for bitcoin and cryptocurrencies.
Investment bank UBS published a note last week looking at whether the space might beheaded for a new "crypto winter"– a period when prices fall sharply and fail to recover for more than a year.
Interest rate hikesfrom the Federal Reserve in 2022 could well dent the appeal of cryptocurrencies such as bitcoin in the eyes of many investors, according to the UBS analysts, led by James Malcolm.
They also said there's also a growing realization among crypto investors that bitcoin is not "better money," because it's highly volatile and its limited supply makes it inflexible.
Read the original article onBusiness Insider || Tompkins Financial Corp Buys Casella Waste Systems Inc, iShares iBoxx USD Investment Grade ...: Ithaca, NY, based Investment companyTompkins Financial Corp(Current Portfolio) buys Casella Waste Systems Inc, iShares iBoxx USD Investment Grade Corporate Bond , iShares iBoxx USD High Yield Corporate Bond ETF, Raytheon Technologies Corp, SPDR Bloomberg Convertible Securities ETF, sells Vanguard S&P 500 ETF, BTC iShares Core MSCI EAFE ETF, iShares Core MSCI Emerging Markets ETF, Berkshire Hathaway Inc, Boeing Co during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Tompkins Financial Corp. As of 2021Q4, Tompkins Financial Corp owns 348 stocks with a total value of $564 million. These are the details of the buys and sells.
• New Purchases:CWST, LQD, HYG, NWFL, CWB, MNDT, KD, SJNK, SPHY, VMW, ROP, SPGI, RIVN, RMD, SHOP, MTD, ESGD, LULU, TEAM, EPAM, DSS, DHI, CP, CNI, CDW, RACE, ASML, STE, ICLR,
• Added Positions:XSOE, RTX, ISRG, ESGE, SUSA, PGX, BND, WMT, AMGN, BRK.B, DTD, SPY, AIG, PSA, PHYS, KMB, SYK, BMY, BSV, PSLV, PM, TSM, SHW, XLI, XLF, XLY, XLV, ALC, IWM, SHY, QQQ, GE, FCX, COP, CARR, A,
• Reduced Positions:VOO, IEFA, IEMG, MSFT, AAPL, USMV, TMP, BRK.A, RWL, HD, BA, AJG, GSIE, IJH, LLY, VOOG, AQN, BAX, DHR, JNJ, PG, PSK, TMO, V, WM, WFC, MDT, TEL, ABBV, GOOG, AMT, ADP, BKNG, AVGO, CL, CMCSA, DIS, ECL, FB, GD, GILD, RWJ, IJR, LOW, MELI, MCHP, NVDA, TRV, TSN, UNP, UNH, ANGL, VNQ, VO, AON, JCI, CB, T, ACM, AGX, CME, CVS, CAT, CVX, STZ, GLW, DELL, DEO, DG, D, DOW, DD, EOG, ELAN, ES, FE, F, FTV, GS, ITW, INTC, IBM, SPLV, KEY, LMT, MMC, MCK, NFLX, PPG, PAYX, PFE, CRM, SLB, SCHE, SO, SWK, STT, TXN, VLO, VWO, VGK, VMBS, VUG, VTV, VTRS, WAB, ZTS,
• Sold Out:IDXX, BKLN, MCFE, DBL, RNP, PNC, PCI, NOC, FLS, ETN, CI, VIAC, SWKS, IWD, MORT, PKG, TT, IT, KMX, LEA, MSCI, NAD, NLY, NOW, OC, MGK, HES, IWF, SU, TPL, USB, IR, UTF, HACK, CEF, SLVM, AMP, ALGN, BB, CHKP, FISV, XLRE, NDAQ, NXPI, REGN, VEU, AEM, ADSK, TFC, BSX, C, SLYV, SCHZ, DLR, SCHD, FIS, RDIV, FRC,
• Warning! GuruFocus has detected 10 Warning Signs with RTX. Click here to check it out.
• List of 52-Week Lows
• List of 3-Year Lows
• List of 5-Year Lows
For the details of TOMPKINS FINANCIAL CORP's stock buys and sells,go tohttps://www.gurufocus.com/guru/tompkins+financial+corp/current-portfolio/portfolio
These are the top 5 holdings of TOMPKINS FINANCIAL CORP
1. Apple Inc (AAPL) - 240,986 shares, 7.59% of the total portfolio. Shares reduced by 2.37%
2. Microsoft Corp (MSFT) - 103,259 shares, 6.16% of the total portfolio. Shares reduced by 3.25%
3. WisdomTree Emerging Markets ex-State-Owned Enterpr (XSOE) - 753,352 shares, 4.92% of the total portfolio. Shares added by 2.17%
4. Tompkins Financial Corp (TMP) - 248,481 shares, 3.68% of the total portfolio. Shares reduced by 2.55%
5. iShares Core S&P Mid-Cap ETF (IJH) - 49,878 shares, 2.51% of the total portfolio. Shares reduced by 1.35%
New Purchase: Casella Waste Systems Inc (CWST)
Tompkins Financial Corp initiated holding in Casella Waste Systems Inc. The purchase prices were between $76.89 and $89.55, with an estimated average price of $83.99. The stock is now traded at around $75.840000. The impact to a portfolio due to this purchase was 0.48%. The holding were 31,704 shares as of 2021-12-31.
New Purchase: iShares iBoxx USD Investment Grade Corporate Bond (LQD)
Tompkins Financial Corp initiated holding in iShares iBoxx USD Investment Grade Corporate Bond . The purchase prices were between $130.49 and $134.38, with an estimated average price of $132.44. The stock is now traded at around $128.500000. The impact to a portfolio due to this purchase was 0.16%. The holding were 6,661 shares as of 2021-12-31.
New Purchase: iShares iBoxx USD High Yield Corporate Bond ETF (HYG)
Tompkins Financial Corp initiated holding in iShares iBoxx USD High Yield Corporate Bond ETF. The purchase prices were between $84.9 and $87.25, with an estimated average price of $86.23. The stock is now traded at around $85.350000. The impact to a portfolio due to this purchase was 0.06%. The holding were 3,725 shares as of 2021-12-31.
New Purchase: Norwood Financial Corp (NWFL)
Tompkins Financial Corp initiated holding in Norwood Financial Corp. The purchase prices were between $25.42 and $27.6, with an estimated average price of $26.26. The stock is now traded at around $27.820000. The impact to a portfolio due to this purchase was 0.02%. The holding were 5,000 shares as of 2021-12-31.
New Purchase: SPDR Bloomberg Convertible Securities ETF (CWB)
Tompkins Financial Corp initiated holding in SPDR Bloomberg Convertible Securities ETF. The purchase prices were between $80.7 and $88.64, with an estimated average price of $84.95. The stock is now traded at around $76.000000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,405 shares as of 2021-12-31.
New Purchase: SPDR Bloomberg Short Term High Yield Bond ETF (SJNK)
Tompkins Financial Corp initiated holding in SPDR Bloomberg Short Term High Yield Bond ETF. The purchase prices were between $26.72 and $27.21, with an estimated average price of $26.99. The stock is now traded at around $26.950000. The impact to a portfolio due to this purchase was 0.01%. The holding were 2,194 shares as of 2021-12-31.
Added: Raytheon Technologies Corp (RTX)
Tompkins Financial Corp added to a holding in Raytheon Technologies Corp by 147.51%. The purchase prices were between $79.05 and $91.86, with an estimated average price of $87.1. The stock is now traded at around $88.120000. The impact to a portfolio due to this purchase was 0.05%. The holding were 5,918 shares as of 2021-12-31.
Added: WisdomTree U.S. Total Dividend Fund (DTD)
Tompkins Financial Corp added to a holding in WisdomTree U.S. Total Dividend Fund by 100.00%. The purchase prices were between $58.64 and $64.77, with an estimated average price of $62.01. The stock is now traded at around $62.660000. The impact to a portfolio due to this purchase was 0.01%. The holding were 1,294 shares as of 2021-12-31.
Added: American International Group Inc (AIG)
Tompkins Financial Corp added to a holding in American International Group Inc by 39.39%. The purchase prices were between $51.72 and $61.08, with an estimated average price of $56.98. The stock is now traded at around $57.460000. The impact to a portfolio due to this purchase was 0.01%. The holding were 2,385 shares as of 2021-12-31.
Added: Sprott Physical Gold Trust (PHYS)
Tompkins Financial Corp added to a holding in Sprott Physical Gold Trust by 31.52%. The purchase prices were between $13.78 and $14.69, with an estimated average price of $14.13. The stock is now traded at around $14.660000. The impact to a portfolio due to this purchase was 0.01%. The holding were 22,058 shares as of 2021-12-31.
Added: Vanguard Short-Term Bond ETF (BSV)
Tompkins Financial Corp added to a holding in Vanguard Short-Term Bond ETF by 146.39%. The purchase prices were between $80.65 and $81.49, with an estimated average price of $80.98. The stock is now traded at around $80.280000. The impact to a portfolio due to this purchase was 0.01%. The holding were 648 shares as of 2021-12-31.
Added: Health Care Select Sector SPDR (XLV)
Tompkins Financial Corp added to a holding in Health Care Select Sector SPDR by 70.63%. The purchase prices were between $124.86 and $141.49, with an estimated average price of $132.44. The stock is now traded at around $129.040000. The impact to a portfolio due to this purchase was less than 0.01%. The holding were 215 shares as of 2021-12-31.
Sold Out: IDEXX Laboratories Inc (IDXX)
Tompkins Financial Corp sold out a holding in IDEXX Laboratories Inc. The sale prices were between $586.54 and $666.48, with an estimated average price of $627.99.
Sold Out: McAfee Corp (MCFE)
Tompkins Financial Corp sold out a holding in McAfee Corp. The sale prices were between $20.6 and $25.85, with an estimated average price of $24.18.
Sold Out: Northrop Grumman Corp (NOC)
Tompkins Financial Corp sold out a holding in Northrop Grumman Corp. The sale prices were between $345.98 and $406.62, with an estimated average price of $372.6.
Sold Out: ViacomCBS Inc (VIAC)
Tompkins Financial Corp sold out a holding in ViacomCBS Inc. The sale prices were between $28.68 and $39.84, with an estimated average price of $34.3.
Sold Out: Cohen & Steers REIT and Preferred Income Fund Inc (RNP)
Tompkins Financial Corp sold out a holding in Cohen & Steers REIT and Preferred Income Fund Inc. The sale prices were between $25.78 and $28.62, with an estimated average price of $27.21.
Sold Out: VanEck Mortgage REIT Income ETF (MORT)
Tompkins Financial Corp sold out a holding in VanEck Mortgage REIT Income ETF. The sale prices were between $16.98 and $19.26, with an estimated average price of $18.5.
Here is the complete portfolio of TOMPKINS FINANCIAL CORP. Also check out:1. TOMPKINS FINANCIAL CORP's Undervalued Stocks2. TOMPKINS FINANCIAL CORP's Top Growth Companies, and3. TOMPKINS FINANCIAL CORP's High Yield stocks4. Stocks that TOMPKINS FINANCIAL CORP keeps buyingThis article first appeared onGuruFocus. || Cypherpunk Holdings Announces New Investment into GOAT.IO: The Company takes 4.7% stake in GOAT
Toronto, Ontario--(Newsfile Corp. - February 2, 2022) -Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: KHRIF)("Cypherpunk" or, the "Company"), a sector leader for blockchain, privacy and cryptography focused investments, is pleased to announce that it has completed a strategicequity investment in Greatest of all Time ("GOAT")alongside Animoca Brands. GOAT.io is developing a platform so-called 'metazens' to scale their activities across decentralized metaverse economies. In its first eight weeks of operation, the company has rapidly grown its discord community to over 13,000 players.
Under the terms of the transaction Cypherpunk Holdings has acquired 176,470 ordinary shares of GOAT.IO representing 4.7% of the issued shares of GOAT for an aggregate price of CAD $ 251,417 (USD $200,000) as part of GOAT's seed round of CAD 2.14 million (USD $1.7 million).
Commentating on the investment, President and CEO, Jeff Gao, said: "We are excited to be a part of GOAT's journey in building the future of decentralized economies. GOAT's ability to recruit and retain top players via its play-to-earn (P2E) crypto gaming platform speaks volumes about its focus on players, on GameFi analytics and on the process of empowering one to become the greatest they can be. Under the leadership ofPhil GeorgeandWayne HughesGOAT has demonstrated a remarkable ability to scale and commercialize their bespoke P2E model. After 70 days of operation, GOAT has unlocked 3.5M+ in annual recurring revenue (ARR) and is on track to produce an additional 3M+ of ARR over the coming 30 days. Cypherpunk is delighted to be the co-lead investor and strategic partner to GOAT alongside Animoca Brands."
About GOAT.IOGOAT is building platforms to empower the decentralised metaverse economy.
Become aGOAT.Follow GOAT onTwitter.
About Cypherpunk Holdings Inc.Cypherpunk was established to invest in currencies, companies, technologies and protocols, which enhance or protect privacy. Its strategy is to make targeted investments in businesses and assets with strong privacy attributes, often within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Bitcoin, Ethereum, Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and Animoca Brands.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking information includes, but is not limited to the Company's expectation or belief regarding its investment in shares of Animoca Brand and Animoca Brand's future performance or business. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Officer/Director Contact:Jeffrey GaoChief Executive [email protected]: 1-647-946-1300
Investor Relations Contact:Veronika OswaldInvestor [email protected]: 1-647-946-1300
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/112556 || Bitcoin and ethereum slide as crypto slump continues: Cryptocurrency prices continued their recent fall on Monday as traders turned to safer assets and away from riskier investments.
Bitcoin (BTC-USD) was 0.6% lower on the day at $41,597 (£30,609), its lowest level since September, with no sign of a rebound as of yet.
The second-largest crypto token ethereum (ETH-USD) also followed suit, slumping 0.6% to $3,108 after dipping below the $3,000 level on Saturday before later recovering.
Fear hit 10 on the Crypto Fear and Greed Index on the weekend, which is the lowest since the crypto market bottomed on 21 July before a rally of over 100%, pointing to a possible relief rally in the short term.
As well as the steer from riskier investments, prices collapsed in the last week as the US federal Reserve indicated an expedited willingness to hike interest rates and sell debt assets to combat rising inflation.
“The minutes from the Fed have increased expectations that the central bank of the world’s largest economy will now move faster to raise interest rates to fight soaring inflation,” said Nigel Green, chief executive and founder of deVere Group, after the announcement.
“As a result, there’s been a knee-jerk sell-off on Wall Street and the crypto market as it is perceived by some traders that such a move puts at risk the liquidity that has benefitted many asset classes, including bitcoin.”
Watch: What is Bitcoin?
Later this week, US inflation data will be released, with the market expecting the consumer price index (CPI) to rise 7.1% for the year through December, and 0.4% over the month. If the figure released is larger than expected, it may put further pressure on cryptos as the Fed looks to control it.
It comes as a US-listed blockchain company has begun offering bitcoin dividend payments. BTCS Inc said it intends to pay a $0.05 per share dividend in bitcoin to investors, with the amount it pays depending on the price of Bitcoin on the day of the ex-dividend date.
Investors will however be given a choice to take the so-called “bividend” payment in fiat currency.
Read more:European markets fall as traders watch rising COVID cases and expected rate hikes
Chief executive Charles Allen said: "We want to reward our long-time shareholders for their continued support and encourage financial freedom by providing the means to enable direct ownership of bitcoin and other digital assets.”
Its share price rocketed in trading on Thursday on the back of the news, up 44% in the session, despite wider markets falling significantly.
Commenting on the recent downtrend Mike Novogratz, chief executive of Galaxy Digital, said he expects bitcoin to bottom at around $38,000 to $40,000.
“I know big institutions who are going through their process to put positions on. They’re going to see those as attractive levels to buy,” he said.
Watch: What are the risks of investing in cryptocurrency? || 'Like Genghis Khan, but With More Pizzazz': What We Know About the Accused Bitfinex Money Launderers: They are successful and glamorous, in a Bushwick , Brooklyn, sort of way. And on Tuesday, U.S. officials arrested them on allegations they sought to launder billions of dollars worth of crypto stemming from a 2016 hack of the Bitfinex crypto exchange. She is a young marketing entrepreneur with a cheekish rapper alter ego and a lot of bylines in business magazines. Her husband is a tech entrepreneur who founded a blockchain startup that promised users a chance to keep their privacy. Now their own privacy is gone as they’re charged with being heavily involved in one of the largest crypto hacks in history. For Heather Morgan and Ilya “Dutch” Lichtenstein, it’s not a long distance from New York's hipster-soaked city cafes to the federal courthouse, but it’s a long way from where they appeared to be going. Federal officials allege Lichtenstein and Morgan kept 2,000 crypto wallet addresses and their corresponding seed phrases in a spreadsheet stored on a cloud storage service. The feds accessed the spreadsheet with a warrant. While the complaint warrant filed by U.S. authorities today accuse Lichtenstein and Morgan of being significantly involved in what happened with the Bitfinex hack, they did not accuse Lichtenstein or Morgan of being the actual hackers. Rather, the feds said, “In or around August 2016, a hacker breached Victim [virtual currency exchange’s] security systems and infiltrated its infrastructure.” That leaves the door open for others to be charged with that or for more definitive statements to come out later. Read more: US Officials Seize $3.6B in Bitcoin From 2016 Bitfinex Hack ‘Genghis Khan’ and the privacy champion A University of California, Davis grad, Morgan spent time in the Middle East, getting a Master of Arts degree in international economic development at the American University in Cairo and studying Turkish monetary policy in Ankara’s Bilkent University, according to what appears to be her LinkedIn profile . (She calls herself “Turkish Martha Stewart” in a music video.) Story continues At 23 she built a company called SalesFolk, which uses a stable of copywriters to pump out cold emails for companies wanting to market their wares on the internet. “I’m going to tell you my secret for making dreams a reality,” Morgan said in a TikTok video . “I started my company when I was 23 and grew it into a multimillion-dollar business with zero outside funding. I had no connections. I didn’t go to an Ivy League school and I wasn’t trust-funded. How did I do it? I learned a simple framework in Silicon Valley from some top entrepreneurs that are now billionaires that I live by. It goes like this: automate, eliminate, delegate.” She counts self-proclaimed “ crypto genius ” James Altucher and Indiegogo founder Slava Rubin as LinkedIn connections, as well as a few CoinDesk alumni. A Forbes contributor, she wrote an article titled, “ Experts Share Tips To Protect Your Business From Cybercriminals ” and regularly wrote for the likes of Inc. Magazine. Interestingly, one piece she did for Forbes included quotes from BitGo's chief compliance officer, Matt Parrella. BitGo provided the multi-signature wallets and was custodian for Bitfinex at the time of the nearly 120,000 bitcoin hack in 2016. "In order to withdraw such a large amount of funds, BitGo would likely have had to sign off on those transactions," Stan Higgins wrote at the time for CoinDesk . Oh, and she is a rap star. OK, not quite like fellow entrepreneur Jay-Z or even Vanilla Ice, but her humorous takes were mildly reminiscent of Kitty from a few years ago. Going by the name Razzlekhan (“like Genghis Khan, but with more pizzazz,” proclaims her website ), Morgan pumped out songs over the past few months that weren’t going to make it on the radio but could certainly make for a fun show. “Razzlekhan is a surrealist artist with synesthesia making music for MI$FIT$. 💜🧞♀️ Razz creates sexy horror-comedy raps with an authentically awkward twang. This ‘digital bedouin’ gives you a taste of the silk road--from Cairo to Hong Kong,” says her Spotify page . The title of one song, “SaaSholes,” is a nod to her professional career as a SaaS entrepreneur. Her song “GILFALICIOUS” is about a “gilf,” which one assumes is an acronym for “grandma I’d like to have coffee with” or thereabouts. “I made the song, GILFALICIOUS, as a humorous attack on #ageism against women & #sexism in general. If I make it to 90, this is EXACTLY how I want to be…” she said on Instagram. Unfortunately for her, there is a chance she may reach that age on the wrong side of prison bars. Morgan’s partner, Dutch Lichtenstein, isn’t quite the same social media presence. He is, however, an alumnus of the prestigious Silicon Valley accelerator program Y Combinator; with that initial funding, he co-founded a data and adtech startup called MixRank which secured funding from Mark Cuban, among others (the company is still active, though Lichtenstein appears to have left in 2016). He also advised decentralized identity startup Endpass, according to his LinkedIn profile . Morgan was Endpass’ CEO, per Crunchbase. Occasionally, Lichtenstein took to Twitter to warn people about the threat of hacks. After a post by one Twitter user saying, “when you buy an ape on opensea it should pop up a big red warning sign that says never give your seed phrase to anyone, especially m*tamask support,” Lichtenstein chimed in with approval, saying, “There really should be a mandatory security tutorial with a test at the end for many crypto assets.” Will Gottsegen and Danny Nelson contributed reporting. UPDATE: Feb. 8, 2022 (21:49 UTC): Added Forbes article which included an interview with a BitGo executive. || Australian Dollar Continues to Show Resistance in the Same Region: TheAustralian dollarhas initially tried to rally during the session on Monday, but you can see that we have struggled to go higher again, as we are looking at the 0.72 level as an area of resistance. I believe that the area between the 0.72 level and the 0.73 level is rather resistive, so I would not be surprised at all if we pull back from here. That being said, we are also sitting on top of the 50 day EMA, which can offer a certain amount of support due to the fact that it is a major technical indicator. If we were to break down below there, then it is likely that we could continue the overall downtrend.
On the other hand, if we were to turn around a break above the 0.73 level, then it looks like we are going to continue to break to the upside, as it would be a breach of rather significant resistance. Keep in mind that the Australian dollar of course is a very “risk on” type of currency, so a lot of that will come back into the picture as well. After all, the market is likely to continue to see a lot of “risk on/risk off” type of trading, not just in the Australian dollar, but also the other markets in general.
I do think that the one thing that you probably have to pay the most attention to is the fact that the volatility is here for the foreseeable future because of this, you need to keep your position size relatively reasonable, but also have to be very nimble.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Euro Gives Up Early Gains on Monday
• US Dollar Hanging Around ¥115 and Yet Again
• S&P 500 Futures Choppy in Holiday Trading
• Kazakhstan Has Probably Less Bitcoin Hash Rate Since the Last Index
• Natural Gas Markets Spike Again, but Still See Concerns
• Gold Markets Have Volatile Session
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 44354.64, 43924.12, 42451.79, 39137.61, 39400.59, 38419.98, 38062.04, 38737.27, 41982.93, 39437.46
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-03-18]
BTC Price: 4032.51, BTC RSI: 62.82
Gold Price: 1300.30, Gold RSI: 49.40
Oil Price: 59.09, Oil RSI: 67.13
[Random Sample of News (last 60 days)]
British Financial Historian Niall Ferguson Says Bitcoin Is 'an Option on Digital Gold': Niall Ferguson, British economic and financial historian, believes that Bitcoin ( BTC ) is an option an digital gold , as he said in a interview with a blockchain magazine Breaker Mag on Feb. 13. Ferguson, a world famous historian and author fourteen books such as The Ascent of Money, declared that Bitcoin itself is only money in a very limited sense, stressing that the oldest cryptocurrency is incapable of being money as a means of payment due to massive volatility . However, in near future, Bitcoins main function will be serving as a type of insurance , Ferguson stated, explaining that it is an asset that is hard to confiscate, and anyone might hold private keys the same way the European wealthy used to hoard gold jewelry and precious stones. While Ferguson said that it is clear that the money of future will be digital, he still expressed scepticism about stablecoins , which are digital currencies that are designed to provide minimum volatility and pegged to fiat currencies, commodities or algorithms. Ferguson stated that fiat currencies have indeed performed very well in recent years in terms of inflation. In this context, Ferguson said that building a substitute for something that has been doing well since its inception in the 1970s is not an obviously winning strategy. He said: Stablecoin builders should remember that Bitcoin is an unusual kind of asset, which isnt closely correlated to other asset classes. Investors like that idiosyncrasy. Regarding the future of money, Ferguson expressed hope that the global community will adopt a universal payment system that treats everyone equally, from the 0.1 percent to the huge class of people who are outside the financial system, and have to rely on cash and payday loans. Ferguson also expressed concerns about huge centralized entities that might gain control over customer transactions: My nightmare would be that Amazon , Google , or Facebook creates some hugely popular version of a digital dollar at which point every transaction is going to be monitored by the network platforms big data and [artificial intelligence] AI systems, to an even greater extent than is already true. Earlier today, Mike Novogratz , a former Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital , argued that Bitcoin is going to be a digital gold, claiming that it will be sovereign money. Related Articles: Institute of Decentralized Economics Launches in UK to Study Blockchain Economic Systems Blockchain Intelligence Firm Chainalysis Raises $30 Million From Accel, Others Circles Head of Partnerships Joins Blockchain Startup Celo Dutch Tech Firm Develops PoC of Autonomous Smart Electricity Grid Using IOTA View comments || Twitter CEO Jack Dorsey Engages in Bitcoin Lightning Network ‘Torch’ Experiment: Jack Dorsey has taken part in a ceremonial usage of Lightning Network “for the laughs.” The idea mimics the Olympic torch. Participants pass microscopic amounts of Bitcoin around the Lightning Network, using Lightning-enabled wallets to generate and pay invoices.
Dubbed the #LNTrustChain, the experiment demonstrates that Ligthning Network can send tiny amounts of Bitcoin. Each participant receives the full amount of the torch and adds 10 Satoshi to it. They then pick another person and the “trust chain” gets longer. The experiment even has awebsite.
The first transaction was for 100 Satoshi. By the time it got to Dorsey, the torch was 2860 Satoshi, which rounds up to 10 cents at press time.
Read the full story onCCN.com. || EOS, Litecoin Spike 13% in $5 Billion Crypto Market Gain; Can Bitcoin Surge?: ByCCN.com: Following an abrupt short-term dip from $132 billion to $126 billion, the crypto market has almost fully recovered as Bitcoin bounced back to $3,800 and assets like EOS and Litecoin recorded 10 to 13 percent gains.
Peter Brandt, a prominent technical analyst, stated that crypto assets like Litecoin have led Bitcoin higher in the past 48 hours, allowing the dominant cryptocurrency to recover from $3,690 to $3,880.
If major crypto assets, small market cap cryptocurrencies, and tokens are able to sustain their momentum in the weeks to come, analysts expect Bitcoin to benefit from the bullish sentiment around the market.
Possibly due to the relatively high dominance index of Bitcoin at around 51.8 percent in comparison to the bull market in late 2017, the correlation between Bitcoin and the majority of cryptocurrencies has remained high.
Read the full story on CCN.com. || Bitcoin Price Plunges 11%: Factors Behind Sunday’s Big Crypto Market Dump: On February 24, theBitcoin priceplunged from $4,190 to $3,714 within minutes by 11.3 percent against the U.S. dollar.
Read the full story onCCN.com. || Will This Vulnerability Finally Compel Bitmain to Open Source Its Firmware?: As if Bitmain’s year hasn’t been rough enough, having posted big losses and laying off entire departments, its flagship product now has a firmware vulnerability.
A few weeks ago, Bitcoin Core contributor James Hilliard discovered an exploit in Bitmain’s S15 firmware. The pseudonymous Twitter user00whiterabbit, also known simply as “john,” subsequently wrote exploit code based on Hilliard’s findings. Avideoproving that the exploit code worked was shared on Hilliard’s Twitter account last week.
Hilliard is offering to disclose the vulnerability to Bitmain but under one condition: Bitmain would have to comply to theGNU General Public License(GNU GPL), the popular open source license that the Chinese mining giant is currently breaching, and open source its firmware.
“Bitmain firmware is very buggy in general,” Hilliard toldBitcoin Magazine, “and it's important for the health of the Bitcoin network that users be able to fix the bugs Bitmain introduces.”
Hilliard, who is perhaps best known for proposingBIP91, discovered the vulnerability several weeks ago by auditing a firmware update file on Bitmain’s support site. While details have not yet been disclosed, the exploit was found in firmware of the S15, the company’s most powerful SHA256 miner in store. Hilliard thinks the same vulnerability almost certainly exists in all of Bitmain’s mining firmware.
“I’m also quite sure there are many other vulnerabilities in the firmware,” he added. “It is very poorly designed when it comes to security.”
When exploited, the vulnerability gives users root access to the machine — which is supposed to be impossible. In theory, this can be done remotely using just the IP address of the miner, and means the machine can be reprogrammed to do just about anything. This includes mining to a different Bitcoin address or having it stop mining entirely. The firmware could also be replaced by different firmware altogether (such asBraiins OSorDragonmintfirmware).
In practice, however, it’s unlikely the machines can be remotely exploited at all. For one, as long as the miner is properly firewalled and/or protected with a strong username and password, it cannot be broken into. And second, without access to the firmware’s source code, it's difficult to make compatible custom firmware. As such, this specific vulnerability is perhaps not the main issue. “The bigger problem is that Bitmain firmware is generally quite buggy,” said Hilliard.
Indeed, this is not the first time a vulnerability has been found in Bitmain’s firmware. In early 2017, an anonymous security engineerfoundthat almost all Antminer machines could be shut down remotely. Dubbed “Antbleed,” this previous vulnerability could have probably knocked about half of all hash power on the Bitcoin network offline. It was arguably not just a problem for Antminer owners, but a security risk for the entire Bitcoin network.
Hilliard and 00whiterabbit have not released the exploit code — but they are developing a version of it to be released eventually. The two are also willing to disclose the vulnerability to Bitmain, allowing the hardware producer to patch their firmware and fix the vulnerability. But only if Bitmain stops breaching the GNU GPL.
Bitmain’s firmware is built on the Linux operating system as well ascgminer: open source mining software developed by Hilliard and others. Both Linux and cgminer are licensed under the GNU GPL. This widely used open source license allows anyone the freedom to run, study, share and modify the software — under the condition that the resulting software is free, too.
“Legally, therefore, Bitmain’s firmware should be open source as well,” Hilliard explained. “But Bitmain doesn’t seem to care about following copyright law. Unfortunately, closed source firmware is not a good thing to have on the Bitcoin network, as stuff like Antbleed can be hidden in it. It's a centralization risk.”
It is not very clearwhythe mining giant is breaching the GNU GPL. Hilliard suspects it is “probably to prevent users from overclocking their machines and support costs associated with that.” Others have suggested Bitmain may prefer to keep its firmware closed source because this makes it harder for attackers to find vulnerabilities.
So far, Bitmain has not commented on the exploit at all, and its firmware is still closed source. As such, there is little reason to believe the company will change its ways now — though Hilliard remains hopeful Bitmain will comply with the GPU GPL andencouragesusers to file a request to have the code open sourced.
“In the past they have released what appeared to be the real source, presumably because there was public pressure to do so,” Hilliard said. “So, maybe?”
Bitcoin Magazine reached out to Bitmain to ask what the company knew of the vulnerability that Hilliard found and if it had plans to fix it. We also asked if they had any intention of complying with the GNU GPL. In response, a Bitmain spokesperson issued the following statement:
"We are truly grateful to the open-source community in identifying potential vulnerabilities and we are actively investigating the matter. We will continue to do what is necessary to ensure the best and safest possible mining experience for Antminer customers."
This article originally appeared onBitcoin Magazine. || Bitcoin And Ethereum Daily Price Forecast – Crypto Market Trades in Green on News Driven Momentum: Cryptocurrency market gained positive price action today as news hit the market that a request for ETF approval has been submitted to SEC once again by Van Eck, CBOE collaboration parties. While I had mentioned in an article earlier this week they may not submit a request anytime soon owing to the possibility of another partial government shutdown owing long time duration required for such progress and this update has come as a surprising move. Most investors in the market didn’t expect this move and this has increased investors’ hopes today as VanEck/CBOE group has clearly mentioned that their request meets with minimum requirement standards expected by SEC and so the product is likely to be approved.
Given CBOE was first to officially debut Bitcoin futures on huge level in U.S.A, traders hope that an approval will bring in fresh wave of fund flow boosting the price action in broad market. With news driven momentum providing some level of support to crypto bulls in broad market, Bitcoin and major legacy pairs have taken positive price action. But it remains to be seen if this will grow up to be an event providing fundamental support or is it yet another attempt of dead cat bounce. As of writing this articleBTC/USDpair is trading at $3456.7 up by 0.85% on the day. Bitcoin is currently trading well within range despite price action hinting at bullish bias in broad market.
Given investors skeptics towards crypto coins owing to multiple dead cat bounce attempts amid lack of fundamental support, today’s news-driven momentum failed to act as a trigger to help major crypto assets stage a bullish breakout. While some of major legacy Crypto’s saw sharp gains, both Bitcoin and Ethereum continue to see subdued price action. As of writing,ETH/USDpair is trading at $107.14 up by 0.88% on the day and it needs to breach strong resistance at $110 handle and sustain a rally above-mentioned price handle for investors to gain any semblance of positive price action.
Thisarticlewas originally posted on FX Empire
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• GBP/USD Price Forecast – British pound finding buyers || Ethereum Hard Fork 'Constantinople' Is Coming This Week: Ethereum was trading down Wednesday ahead of an upcoming hard fork expected to occur Thursday . What To Know Ethereum is the latest cryptocurrency to experience volatility ahead of a hard fork, a split in a cryptocurrency that occurs when a blockchain is forked into two paths that require software upgrades to follow the new path. A new currency is often created following a hard fork if investors do not agree on which path to take following the fork. In this instance, however, the fork is not a contentious one and there will be no new coin created. Last week, Ethereum announced its hard fork, called Constantinople, will occur when the blockchain hits block 7,280,000. The chain is expected to reach the split point sometime this week . Why Its Important In the stock market, stock splits or dividend payments often reduce the value of the original shares of stock by dividing the cash balance, earnings potential and/or assets of the underlying company. Cryptocurrencies have no tangible value, earnings potential or asset backing, so their values are based solely on market sentiment and perceived utility. Because of uncertainty surrounding previous hard forks including an infamous, confusing fork in Bitcoin Cash back in November cryptocurrency prices tend to be weak in the days leading up to the forks, according to economist and cryptocurrency trader Alex Kruger. Cryptos often raise in anticipation of a fork long the narrative reach a local top days before, and crash into the fork, Kruger said. ... The current crypto pump was ETH-driven. The "pump" Kruger is referencing is the fact that Ethereum prices jumped more than 20 percent from Feb. 14 to Feb. 19. The worlds second-largest cryptocurrency by market cap has lost more than 60 percent of its value overall in the past year. Whats Next Cryptocurrency traders will be watching to see how the updated Ethereum will perform relative to its peers when the fork takes place. In November, confusion over the Bitcoin Cash fork dragged most major cryptocurrencies to new lows. Over time, longer-term investors will keep an eye on whether or not Ethereum could potentially pose a threat to the worlds largest cryptocurrency, bitcoin. So far in 2018, Ethereum is up is 3.9 percent after a brutal 2018. The Grayscale Bitcoin Trust (OTC: GBTC ) is up 19.8 percent in 2019. Ethereum was trading down 4.91 percent at $128.87 at the time of publication Wednesday. You can see the fork happen in real time here . Related Links: Detroit Blockchain Center Hosting Inaugural Blockchain, Fintech 'Pitchfest' Story continues Bitcoin Falls Under K As Cryptos Take Big Hit Ahead Of Bitcoin Cash Fork See more from Benzinga Powell's Testimony Continues: Inflation Target, Balance Sheet Reduction, Household Debt Concerns Takeaways From This Week's Surprising Retail Earnings Even After Earnings Beat, Analysts Aren't Buying Macy's © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Delegated Byzantine Fault Tolerance (dBFT) explained: Besides the well-known Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms, there are other ways to power blockchains. Delegated Byzantine Fault Tolerance (dBFT) is an algorithm used to achieve consensus that confuses many blockchain and cryptocurrency adopters. It’s a complicated concept that not everyone understands like PoW or PoS. However, despite being so confusing, one of the largest cryptocurrency exchanges, Binance , decided to use this consensus mechanism for its chain. This is because Delegated Byzantine Fault Tolerance can counter unreliable or untrustworthy participants on the blockchain more effectively than other algorithms. What Delegated Byzantine Fault Tolerance is all about The Delegated Byzantine Fault Tolerance consensus was introduced by NEO , often called the “Ethereum of China”. This Chinese blockchain plans to achieve the “smart economy” by digitising assets and providing smart contracts on the blockchain. According to its creators , the voting system of dBFT allows large-scale participation, in a similar way to the Delegated Proof-of-Stake consensus . This means that the holder of a NEO token can support a specific ‘bookkeeper’ through a vote. The selected group of bookkeepers then use the Byzantine Fault Tolerance mechanism to reach a consensus and generate more blocks. One of the strongest points of using the dBFT mechanism consists of absolute finality. After final confirmation, a block can’t be bifurcated, so the transaction can’t be revoked or rolled back. This is a two-sided weapon, however. The finality is somehow guaranteed by the fact that NEO is not a wholly decentralised network. Despite NEO’s efforts to take this direction, there’s currently just seven nodes and a few delegates operating on the blockchain. The majority of these are connected to the NEO council. How the dBFT mechanism works At first glance, the dBFT consensus mechanism is similar to Delegated Proof-of-Stake. Using a voting process, NEO token holders have the right to vote for delegates. This is regardless of the amount of currency in their possession. Story continues Anyone can become a delegate, as long as he or she meets the requirements. This means a reliable internet connection, the right equipment, a validated identity, and 1,000 GAS. GAS is the reward users receive for their activity on the network. From the delegates, a speaker is chosen randomly. The speaker builds a new block from the transactions that waits to be validated. Then, the speaker sends the proposal to the elected delegates. They are expected to keep track of all the transactions and record them on the network. The delegates are free to share and compare the proposal they’ve received to test data accuracy, as well as the honesty of the speaker. The block is added to the blockchain if more than two-thirds of the delegates reach a consensus and validate it. Voting in the NEO network is a process that occurs in real time. How dBFT counters dishonesty As all delegates can verify the block proposal, it’s easy to understand whether the data sent by the speaker is valid or invalid. So, if the speaker is dishonest and sends invalid proposals to two-thirds of the delegates, the blocks won’t match, and node owners won’t validate it. The consensus is reached with two-thirds of the votes, and a new speaker is selected. If one of the nodes is corrupted, the other delegates can determine the validity of the proposal by comparing their own versions of the proposal. Consensus can still be reached as only two-thirds of the delegates are required to agree to validate the block and replace the dishonest delegate. Using the Delegated Byzantine Fault Tolerance algorithm, consensus can also be reached when both the speaker and a delegate are dishonest. When comparing blocks, delegates can see whether either the speaker or a delegate is corrupt, and they can agree to invalidate the block, which automatically leads to selecting a new speaker. In any of these three situations, the dishonest delegates need to control two-thirds of the network to corrupt data written on the blockchain. This is hard to achieve since all NEO token holders can vote, delegates aren’t anonymous, and becoming a node owner costs 1,000 GAS. dBFT pros: Generating a new block on the chain takes between 15 and 20 seconds. The transaction throughput is close to 1,000 TPS. NEO hopes to reach 100,000 TPS, which would allow the network to support large-scale commercial applications. No expenditure of energy needed (unlike the Proof-of-Work consensus algorithm). Total finality for transactions after their confirmation. There are no forks on the NEO blockchain. dBFT cons: As delegates need to operate under real identities to be elected, there’s no anonymity on the blockchain. The mechanism requires regulated blockchains, which includes a certain level of centralisation (exactly what blockchains like Bitcoin and Ethereum are trying to achieve). Final thoughts The strength of the Delegated Byzantine Fault Tolerance mechanism is its ability to reach consensus even when one or more delegates are corrupt. For a worldwide public blockchain, it could be the right tool to decrease tolerance to malicious users that could affect the network. However, the lack of anonymity and the need for centralisation may keep adopters away from a blockchain that doesn’t guarantee privacy. The post Delegated Byzantine Fault Tolerance (dBFT) explained appeared first on Coin Rivet . || E-mini S&P 500 Index (ES) Futures Technical Analysis – Weakens Under 2636.00, Strengthens Over 2711.50: March E-mini S&P 500 Index futures settled higher on Friday to cap off a strong week. The surge was fueled by reports that the United States and China may have offered concessions in an effort to move the two global economic powerhouses closer to a resolution to the on-going trade dispute. On Friday, the March E-mini S&P 500 Index settled at 2671.50, up 36.25 or +1.36%. Monday is a U.S. bank holiday and the New York Stock Exchange is closed. We could see limited price action because of light volume and an early futures market close. Daily March E-mini S&P 500 Index Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. The next target is the December 12 main top at 2690.25. The uptrend is safe for now, however, due to the prolonged move in terms of price and time, the index is in the window of time for a potentially bearish closing price reversal top. The minor trend is also up. The minor trend will change to down on a trade through 2596.50. This will also shift momentum to the downside. The main range is 2955.50 to 2316.75. Its retracement zone at 2636.00 to 2711.50 is controlling the long-term direction of the index. On Friday, the index closed inside this zone. Daily March E-mini S&P 500 Index (Close-Up) Daily Swing Chart Technical Forecast Based on Friday’s price action and the close at 2671.50, the direction of the March E-mini S&P 500 Index on Monday is likely to be determined by trader reaction to the 50% level at 2636.00. Bullish Scenario A sustained move over 2636.00 will indicate the presence of buyers. If this move creates enough upside momentum then look for a potential extension into the main top at 2690.50, followed closely by the main Fibonacci level at 2711.50. This is a potential trigger point for an acceleration to the upside. Bearish Scenario A sustained move under 2636.00 will signal the presence of sellers. If this move creates enough downside momentum then look for a potential break into the minor bottom at 2596.50. Taking out 2596.50 will shift momentum to the downside. This could trigger a further break into a pair of minor bottoms at 2567.25 and 2560.50. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update – Trend Up, but Low Holiday Volume Could Limit Gains E-mini S&P 500 Index (ES) Futures Technical Analysis – Weakens Under 2636.00, Strengthens Over 2711.50 Bitcoin – The Bears Take a Bite to Leave Bitcoin Back at Sub-$3,600 Trade Uncertainty and China’s Slow Down Test Resilience Ahead of Brexit Plan B Natural Gas Price Prediction – Prices Rebound from Support and Close Higher Gold Steady On Sustained Safe Haven Demand From European Market View comments || Bitcoin – The Bulls Hold on, as Litecoin Sees Another Solid Gain: Bitcoin rose by 0.88% on Friday, reversing a 0.73% fall from Thursday, to end the day at $3,534.8.
After seeing red for a 6thconsecutive month in January, it’s not looking too optimistic for February, with Bitcoin down 1.73% for the current week.
For the bears, the extended bearish trend was formed back at 5thMay’s swing hi $9,999 and the trend looks set to continue for some time, with Bitcoin sitting well short of the 23.6% FIB Retracement Level of $4,816. More critically, the 38.2% FIB Retracement level of $5,809 is even more distant, with Bitcoin needing to break through the 38.2% FIB to begin forming a near-term bullish trend.
On the day, it was yet another quiet day on the crypto newswires, which used to drive much of the volatility through last year, leaving Bitcoin and the broader market directionless by historical standards.
Of the top 10 majors, Steller’s Lumen and Ripple’s XRP ended up in the red on the day, the pair bucking the trend from across the broader market, with losses of 0.87% and 1.04% respectively.
On the upside, it was Litecoin and Tron’s TRX that led the way, with gains of 3.58% and 3.55% respectively. While Litecoin and Tron’s TRX enjoyed some sizeable gains on the day, there was little action across the rest of the top 10, which saw modest gains. EOS ended the day with a 1% gain, while Ethereum rose by just 0.09%.
With the lack of any catalysts to provide direction for Bitcoin and the broader market, there’s been a pickup in chatter on halving dates. With halving reducing the number of coins that miners are rewarded with, which in theory leads to fewer coins being sold each day, historical data has provided some evidence of crypto rallies in the run-up to each halving event.
While Bitcoin’s halving is due in May of next year, Litecoin’s is due much sooner and is projected to take place in early August of this year.
Interestingly, Litecoin’s adoption had been attributed to its recent gains, however, history suggests that the upcoming halving could be the primary contributor. If we consider adoption in isolation, Ripple’s XRP should be performing in line with, if not outperforming Litecoin, when considering Ripple Lab’s successes and the latest announcement by SWIFT.
So, if history does repeat itself, however rare in the global financial markets, with demand a key consideration, Litecoin should be on the precipice of a major rally.
The last halving took place in August 2015. In the run-up to the August 2015 halving, Litecoin saw 3 consecutive monthly gains, from May to July. Litecoin rallied by a whopping 226% before hitting reverse in August. For the skeptics, the 3 consecutive monthly gains came off the back of 4 months in the red out of the preceding 5 and August’s reversal was the largest of that year, which does support the theory of halving and price action.
Year-to-date, Litecoin is up 8.7%, outgunning the rest of the majors, with the exception of Tron’s TRX and, while Bitcoin has some way to go before its next halving, Litecoin’s is around the corner. The very fact that investors are aware of the effect of halving on cryptocurrency pricing suggests that a rally is in the making, though that assumption does come with one caveat. If the cryptomarket goes into meltdown, it’s going to need more than a halving to garner investor interest.
Outside of Litecoin’s halving later this year, the only other key drivers, at the time of writing, will be the SEC’s Bitcoin ETF decision and the heavily anticipated rollout of rules and regulations by the G20 in the summer.
Both the SEC decision and the G20’s rules and regs could pour ice on the effects of Litecoin’s halving but, when considering the regulatory oversight already evident in key jurisdictions, a unified set of rules and regulations could ultimately be embraced by the broader market.
While volatility may have fallen off a cliff, it’s unlikely to have gone for good…
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was down 0.27% to $3,525.4, with Bitcoin joining EOS and Tron’s TRX in the red in the early hours.
The bulls will be looking for a weekend rally, which could be on the cards should Bitcoin hold above sub-$3,520 levels through the morning. It’s not the first time that Bitcoin has kicked off the day in the red.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/02/19
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[Random Sample of Social Media Buzz (last 60 days)]
先ず。
これ駄目人間になる。 || I liked a @YouTube video http://youtu.be/0aTiPw2NgL0?a EXPLAINING HOW CARDANO + BITCOIN WILL BIRTH A NEW GENERATION OF BTC ADA WEALTH! || あら、押さずに上がったか… || 2019/02/12 02:00
BTC 394811円
ETH 13109.7円
ETC 435.9円
BCH 13109.6円
XRP 32.9円
XEM 4.1円
LSK 127.9円
MONA 52.6円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || well, i've earned not bad before the fall of btc. now as you understand everything is very sad || Get Free Bitcoin http://bowwellebay.blog.fc2.com || Ur mum is overused || Product Manager - Phoenix - Collins Aerospace ( Phoenix, Arizona, USA ) - [ More Info http://j.mp/2R6qTB0 ] #BigData #DataScience #Database #BigData #jobs #Hiring #Careers #Phoenix #Arizona #BitCoin #ETH #cryptopic.twitter.com/L7jquK6fPB || There Twitter jus sent all my Bitcoin to wikileaks. It broke my heart when Bitcoin got hijacked by speculators. If it has any real value it's better in their hands. Guess I'm just a troll. https://twitter.com/wikileaks/status/1080841259114205184 … || おお、掘ったなBTC
|
Trend: no change || Prices: 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-12-20]
BTC Price: 4134.44, BTC RSI: 55.63
Gold Price: 1263.60, Gold RSI: 68.91
Oil Price: 45.88, Oil RSI: 29.14
[Random Sample of News (last 60 days)]
Why Bitcoin Investment Trust Stock Plunged on Wednesday: Shares ofBitcoin Investment Trust(NASDAQOTH: GBTC)are down by about 10% as of 2:45 p.m. EST on Wednesday as bitcoin (BTC-USD) plunged to fresh lows for the year. At a recent price of $5,452, bitcoin is trading just above its year-to-date low of $5,363 set earlier in the trading day at Coinbase.
Bitcoin Investment Trust is aquasi-bitcoin ETF, as each share outstanding represents ownership of roughly 0.001 bitcoin. In theory, its share price, when multiplied by 1,000 (1,007.8, to be exact) should approximate the current market value for bitcoin.
In practice, shares of Bitcoin Investment Trustoften trade at a premiumto the value of the bitcoin it owns, due to the fact that speculators value the convenience of being able to buy bitcoin through their brokerage accounts.
Image source: Getty Images.
As of 2:45 p.m. EST, shares of Bitcoin Investment Trust were trading for roughly $6.05 each, which implies a valuation of roughly $6,097 per bitcoin. Meanwhile, at Coinbase, an online bitcoin exchange, bitcoin were trading for roughly $5,452 each, suggesting that the Bitcoin Investment Trust was valued at a 12% premium to the value of the bitcoin that backs each share.
The excitement surrounding bitcoin and cryptocurrencies has seemingly languished throughout 2018. Earlier this year, when interest in publicly traded bitcoin vehicles was just coming off of its late 2017 peak, Bitcoin Investment Trust shares closed at a 90% premium to the value of the underlying bitcoin.
Data source: Grayscale Investments, chart by author.
Since then, the premium has compressed rapidly. Bitcoin Investment Trust shares closed at a 10% premium to the value of the bitcoin owned by the trust on Tuesday, according to the trust's manager. In 2017, a rising premium bolstered the trust's returns, resulting in returns that exceeded the returns investors would have earned buying bitcoin outright.
In 2018, though, a compressing premium is resulting in returns far worse than what would have been earned buying bitcoin directly through an online bitcoin exchange. Shares of the trust are down about 76% this year compared to a 58% plunge in bitcoin prices.
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Jordan Wathenhas no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool has adisclosure policy. || Crypto Investors Are Trying to Save Their Funds Amid Bitcoin Crash: The safe harbor of cryptocurrency has eventually sunk under the volatility wave, which triggered a massive collapse of all crypto coins. During the peak of this decline, market capitalization has shrunk by $30 billion. During the last 24 hours, Bitcoin’s price has lost almost 13%, trading at around %5,500. On the morning of November 15, 2018, the second largest global Bitcoin wallet, which belongs to the Binance exchanged, moved out 109,234 BTC ( $600 million at the current exchange rate). Considering this huge sell-off in the past day, the news in regards to such a big move of almost all Bitcoins from a “cold” wallet may reinforce negative dynamics in the market. It is worth remembering the sharp reaction of the market, subsequent to the sale of BTC and BCH by the Mt.Gox bankruptcy trustee Kobayashi. The lever near $6,000 was defended by bulls for months and the decisive hit of this mark is a bad signal for the whole market. The altcoins suffered even more: Ethereum (ETH) and Bitcoin Cash (BCH) lost almost 13%. It is noteworthy to note that in the recent days, BCH has attracted consumer demand due to the hardfork prospects which can split the chain, as it was in the case with the original Bitcoin. However, the fierce confrontation between the two camps advocating a different future for the project frightened even the speculators. It is very unlikely that BCH sell-off had started before hardfork. According to technical analysis, the next important stop could be the area of the previous price consolidation: distant marks near $3,500. A well-known crypto investor, Barry Silbert, has the same opinion. He considers what is happening now as a “cryptocurrency capitulation” due to a deep disappointment in the prospects and falling interest from traders and users. At the same time, the ambiguous and often negative position of the American regulator is an additional pressure factor. One of the triggers for the collapse in the market could be the prospects for action by the US Securities and Exchange Commission (SEC) in dozens of cases against crypto exchanges that may be accused of distributing unregistered securities. Story continues This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Daily Price Forecast – USD/CAD Trades Range Bound For Fourth Consecutive Trading Session Technical Checks For USD/CHF, EUR/CHF, GBP/CHF & CHF/JPY: 14.11.2018 UK Down On Brexit Woe, Pound Sinks, Asian Up On Brexit Hope, US Dollar Moves Higher EUR/USD Mid-Session Technical Analysis for November 15, 2018 Crypto Investors Are Trying to Save Their Funds Amid Bitcoin Crash USD/JPY Price Forecast – US dollar falls against yen || AUD/USD and NZD/USD Fundamental Daily Forecast Aussie Falls on Disappointing GDP Data: Lower demand for risk and weak domestic data is producing a mixed picture in the Australian and New Zealand Dollar on Wednesday. Both currencies were affected by a series of tweets from U.S. President Donald Trump on Tuesday, indicating hes ready to impose tariffs if a U.S.-China deal cant be reached, but investor sentiment was lifted when Chinas commerce ministry sounded more upbeat. The Aussie was hit following the release of disappointing third-quarter economic growth. At 0850 GMT, the AUD/USD is at .7300, down 0.0039 or -0.52% and the NZD/USD is at .6930, up 0.0001 or +0.01%. Tweets from President Trump fueled a volatile reaction by the Aussie and Kiwi on Tuesday. Trump said in several Twitter posts that negotiations with China have begun. Calling himself a Tariff Man, the president threatened to slap more tariffs on China if efforts to strike a trade deal with Beijing crumble. Earlier today, Trump was at it again, tweeting, We are either going to have a REAL DEAL with China, or no deal at all at which point we will be charging major Tariffs against Chinese product being shipped into the United States. Ultimately, I believe, we will be making a deal either now or into the future
. He added later, China does not want Tariffs! Trumps comments were somewhat softened after Chinas Ministry of Commerce said in a statement on its website that the weekend meeting between Trump and Chinese President Xi Jinping was successful. The ministry also said the two countries will push ahead with negotiations within 90 days, and Beijing will work to address issues agreed upon as quickly as possible. The economic and trade teams of the two sides will actively promote the consultation work within 90 days in accordance with a clear timetable and roadmap, according to a translated response to questions by the ministrys press spokesperson. Story continues The comments produced whip-saw action in both the Aussie and the Kiwi. Forecast The AUD/USD is under pressure on Wednesday after investors pushed potential rate hikes by the Reserve Bank of Australia further into the future in the wake of disappointing third-quarter economic growth. Economists expect the central bank to keep the cash rate on hold at 1.5 percent until at least the fourth quarter of 2019. Earlier today, the Australian Bureau of Statistics said Australias gross domestic product (GDP) expanded 0.3 percent in the three months through September from the prior quarter, and 2.8 percent from a year earlier. Economists had expected 0.6 percent growth on quarter and a 3.3 percent on-year increase. One economist said there is more weakness to come. It would be tempting to blame the slowdown in GDP growth in the third quarter on temporary factors. But we believe that the full effects of falling house prices and tighter credit conditions havent been felt yet and we expect GDP growth to slow further next year, said Marcel Thieliant, senior Australia and New Zealand economist for Capital Economics. This article was originally posted on FX Empire More From FXEMPIRE: Important lesson about the false breakouts. EURUSD, DAX and Gold Risk Sentiment Dealt a blow as Trump Strikes again Bitcoin And Ethereum Daily Price Forecast BTC & ETH Show Signs of Stability GO Markets Expands eFX Network with oneZero Collaboration Price of Gold Fundamental Daily Forecast Looking for Another Dollar Driven Day Oil Price Fundamental Daily Forecast Supported by Expected Production Cuts, Pressured by Rising U.S. Inventory || 10 ETF Strategies to Stay Ahead of the Bearish Turn: This article was originally published onETFTrends.com.
As the equity market continues to pullback and more or less erase gains for the year, concerned investors can take on some exposure to bearish or inverse ETFs to hedge against further falls.
For example, theProShares Short S&P500 (SH) takes a simple inverse or -100% daily performance of the S&P 500 index. Alternatively, for the more aggressive trader, leveraged options include theProShares UltraShort S&P500 ETF (SDS) , which tries to reflect the -2x or -200% daily performance of the S&P 500, theDirexion Daily S&P 500 Bear 3x Shares (SPXS) , which takes the -3x or -300% daily performance of the S&P 500, andProShares UltraPro Short S&P 500 ETF (SPXU) , which also takes the -300% daily performance of the S&P 500.
Those who want to hedge against risk in the Dow Jones Industrial Average utilized inverse ETFs to bolster their long equities positions. TheProShares Short Dow 30 ETF (DOG) tries to reflect the -100% daily performance of the Dow Jones Industrial Average. For the more aggressive traders, theProShares UltraShort Dow 30 ETF (DXD) takes the -200% of the Dow Jones and theProShares UltraPro Short Dow 30 (SDOW) reflects the -300% of the Dow.
Lastly, investors also hedged against a dipping Nasdaq through bearish options as well. For instance, theProShares Short QQQ ETF (PSQ) takes the inverse or -100% daily performance of the Nasdaq-100 Index. For the aggressive trader, theProShares UltraShort QQQ ETF (QID) tracks the double inverse or -200% performance of the Nasdaq-100, and theProShares UltraPro Short QQQ ETF (SQQQ) reflects the triple inverse or -300% of the Nasdaq-100.
"Ongoing risks keep us cautious and we continue to recommend that investors pare back risk if their equity holdings are above longer-term strategic allocations," senior strategists at Charles Schwab warned clients, according toCNBC. "Economic and earnings growth rates may be peaking, while the labor market continues to tighten. This mix contributes to higher wage growth, possibly higher inflation and related uncertainty with regard to Fed policy."
Despite the strengthening economy and steady corporate fundamentals, the growing concerns over economic growth, political headwinds and rising interest rates have all contributed to uncertainty ahead, with the sharp pullback this week revealing the potential volatility investors will have to face.
"Unlike 2016, there are no more tax cuts to salivate over and the deregulation momentum is going to now slow, or maybe stall, in the House," David Rosenberg, chief economist and strategist at Gluskin Sheff, said in a note. "Rare is the day when the stock market goes down in the lead-up to Thanksgiving – and if it does, that indeed will be a very bearish signal."
Nevertheless, there are some that remain hopeful of a turnaround. GDP continues to strengthen and the fourth quarter is likely to produce U.S. economic growth of around 3%, which is consistent with the full year. The employment numbers remain robust with wage growth on the rise. Many still trust the Federal Reserve will step in if things get too bad. Investors would then have to monitor short-term volatility that could trump the long-term growth trends.
For more information on the markets, visit ourcurrent affairs category.
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READ MORE AT ETFTRENDS.COM > || Bitcoin Slips Below $4,000, EOS Overtakes Bitcoin Cash as Markets Plunge: Sunday, Nov. 25: crypto markets have suffered another crash yesterday and continuing into today, with all top 20cryptocurrenciesby market cap deeply in thered, and Bitcoin (BTC) trading below $4,000.
Crypto markets are seeing a massive decline of at least 10-15 percent. Stellar (XLM) has suffered the most, down over 20 percent, and trading at $0.14 at press time, according toCoinMarketCap.
Market visualization fromCoin360
Yesterday, Nov. 24,Bitcoinplunged below the $4,000 price point, breaking the threshold for the first time since September 2017. Today, the major cryptocurrency has dropped even further to as low as $3,585 before stabilizing at around $3,800.
As of press time, Bitcoin is trading at $3,835, down just under 10 percent over the past 24 hours.
The biggest cryptocurrency is down more than 32 percent over the past 7 days. Before facing the first massive sell-off this month onNov. 14, Bitcoin was trading stably around $6,300, which is up about 40 percent from its current price.
Bitcoin price chart. Source:CoinMarketCap
Major cryptocurrency EOS (EOS) briefly overtook Bitcoin Cash (BCH) in terms of market capitalization, becoming the fourth largest coin and following third top altcoin Ethereum (ETH). Meanwhile, Bitcoin Cash is suffering some of the biggest losses, down around 19 percent over the day. Trading around $165, the cryptocurrency is down more than 56 percent over the past 7 days.
Top 5 cryptocurrencies by market cap. Source:CoinMarketCap
Total market capitalization of all cryptocurrencies dropped below $130 billion yesterday evening for the first time since mid-September 2017. At press time, total market cap is hovering just over $120 billion, daily trade volume accounts for around $19 billion. Bitcoin’s market share now accounts for 54.5 percent.
Total market capitalization chart. Source:CoinMarketCap
Muneeb Ali, CEO ofdecentralization-focusedblockchainprojectBlockstackPBC, has recentlytweetedthat the industry is entering a “crypto winter,” urging that there is “no need to deny or downplay it.” The blockchain expert has predicted that cryptoinvestments“will likely dry up,” causing shutdowns of projects in the industry. However, the current state of the market is “far from the end,” with the “next wave” expectedly bringing a “bigger market,” he said.
Earlier this week,U.S.Securities and Exchange (SEC) CommissionerHester M. Peirceprovided a pro-crypto statement,claimingthat regulators “need to be willing to open the doors a little bit wider for innovation.” Speaking in an interview Nov. 20, Peirce declared that she “reject[s] the role of gatekeeper of innovation,” and argued that this role is “very different” from the genuine mission of developing “efficient markets,” as well as protecting investors.
As Cointelegraphreportedtoday, former Goldman Sachs exec turned crypto exec Mike Novogratz stated that crypto markets will “start moving again next year.” The founder of crypto bank Galaxy Digital told reporters that a “flip” in prices would likely be instigated by major financial institutions entering the crypto space – giving the Intercontinental Exchange’sBakktandFidelity’s plans to open crypto trading as examples.
• Crypto Markets See Mild Volatility on The Day, Fail to Hold Sharp Rebound Trend
• After Yesterday’s Signs of Recovery, Crypto Markets See Drastic Losses
• Bitcoin Hits Another Low, Bitcoin Cash Is Down Almost 50% on the Week
• Crypto Markets Shaky but Most Top Coins See Only Mild Losses || Why iQiyi Is Up 17% So Far in 2018: iQiyi(NASDAQ: IQ)was spun off from Chinese search giantBaiduearlier this year and had its initial public offering on March 30. Shares were priced at $18 for their market debut, but fell to roughly $15.50 in their first day of trading.
CQQQdata byYCharts.
The stock now trades up roughly 17% from its IPO price and 34% from the closing price on the day of its market debut. The company's gains year to date stem from optimism for streaming video services in China and the company's impressive sales growth. However, rising content costs and mounting losses have also caused the stock to trade well off the highs it hit this summer.
Image source: Getty Images.
iQiyi stock gained ground after the streaming video company published first-quarter earnings results on April 26, and shares continued to climb in the next two months on the heels of a string of promising content announcements. The company's first quarter saw it record year-over-year sales growth of 57% to reach roughly $778 million and post a net loss of roughly $68 million.
The month of May saw the company announce new content deals with FilmNation, secure the first operating license of its class for its digital-rights management system from a government-affiliated regulator, and garner a bevy of nominations for prizes at the Shanghai International Film Festival.
Promising news continued in June, with the company publishing a press release revealing that its showHot Blood Dance Crewhad set streaming records in China, with the season's finale generating 1.8 billion views and hitting new highs for biggest sponsorship received and fastest-selling ad spots for an online variety show. The company also revealed in June that it had added the rights to professional golf's four major men's tournaments to its existing lineup of golf content. That made it the top carrier of live-streamed golf coverage in China and signaled ambitions to become a bigger player in the valuable live-sports category.
With a string of big announcements following the first quarter's impressive sales growth, iQiyi stock continued to gain ground. Shares then peaked at roughly $46 per share, and have traded lower in conjunction with sell-offs for the broader Chinese technology sector, rising concerns aboutthreats from competitors likeTencentandAlibaba, and second- and third-quarter earnings reports that arrived with rapidly expanding losses.
iQiyi published its second-quarter results on July 31, delivering 51% year-over-year sales growth to reach $932.5 million. However, the company's net loss also more than doubled to reach roughly $317 million. Shares sold off following the second-quarter earnings release. And they continued to trend down over the next several months as the Chinese tech sector moved further into bear territory and the possibility of a sustained trade war between China and the U.S. added to concerns that China's fast-growing economy might be cooling.
The streaming video company then reportedthird-quarter earnings resultson Oct. 30, once again delivering big sales growth along with the bitter pill of expanding losses. iQiyi's revenue for the quarter including September rose 48% year over year to reach roughly $1 billion, and was driven by strong growth for its premium membership services. But its net loss nearly tripled versus 2017's third quarter and came in at a whopping $457.3 million. The stock once again lost ground following its earnings results.
iQiyi is spending big to add content that can attract paying members to its platform and build a user base that serves as the foundation for future growth. However, the company will have to show that it can get its losses under control and begin steering the business toward profitability. For now, the big losses aren't necessarily a dire sign, but that type of performance won't be sustainable and needs to be backed up with new subscriber additions and content wins.
The hope is that China's large and still-growing population of internet users will allow the company to continue expanding its membership rolls -- and that long-term growth for middle-class discretionary spending will enable the company to increase its average revenue per user through pricing hikes and value-added services. Management also sees big growth opportunities as it pursues aDisney-like model that will see increasing contributions from sales channels like merchandise licensing and video games.
The company counted 80.7 million paid video subscribers at the end of September, up from roughly 50 million subscribers at the beginning of 2018 and just 5 million paying subscribers in May 2015. For the December quarter, iQiyi is guiding for sales between $943.5 million and $982.8 million, representing roughly 46% year-over-year growth at the midpoint.
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Keith Noonanowns shares of iQiyi and Walt Disney. The Motley Fool owns shares of and recommends Baidu, Tencent Holdings, and Walt Disney. The Motley Fool recommends iQiyi. The Motley Fool has adisclosure policy. || Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo: When the bitcoin price flatlined near $6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship cryptocurrency’s immediate future is quite so rosy.
Writing onTwitter, Woo said that he does not expect thebitcoin priceto find a floor until the second quarter of 2019, meaning that the market could face another seven months of downward pressure before conditions improve.
In addition to fundamental indicators such as the entrance of high-profile institutions into the cryptocurrency ecosystem, short-term bulls had pointed to avariety of technical data pointsto justify their optimistic outlook, including a marked increase in bitcoin’s transaction rate and steady average daily trading volume. Woo, on the other hand, cited several proprietary technical indicators that paint a somewhat darker picture, at least in the near-term.
For instance, Woo noted that NVTS — that is, Bitcoin network valuation divided by transaction value — has broken below its support level, which he said is a classic sell signal. Moreover, he said that Bitcoin Network Momentum (BNM) has yet to ramp up, which one would expect to see ahead of a bull cycle.
That’s not to say that the bitcoin price doesn’t have room to rise over the very short-term, but Woo said that it’s unlikely the cryptocurrency will break above its 200-Day Moving Average (DMA) since these moves have historically signified a shift from bear market to bull.
“If price (in the short term) bounces upwards here, which is certainly possible, I think the 200 day moving average is the upper band of the move. This is ~$7k right now,” he wrote on Tuesday. “Remember if price goes above the 200DMA, in the history of BTCUSD’s 8 year trade history, it’s been a reliable indicator of bear to bull transitions. It’s too early to transition out of the bear.
As of the time of writing, bitcoin was priced at $6,307 on Coinbase, up from an intraday low of $6,252. The overall cryptocurrency market, meanwhile, had a cumulative valuation of $212 billion.
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Wooappeared first onCCN. || Novogratz: Trying to Start a Bitcoin Business in This Market Climate ‘Sucks’: Crypto investor Mike Novogratz has expressed dissatisfaction with the level of difficulty involved in trying to build a cryptocurrency business amidst a persistent bear market, even as he remains bullish on the prospects of his company and the wider crypto space in the long term.
Speaking to theFinancial Times,the former Goldman Sachs partner and founder ofGalaxy Digitalrevealed that the company, which was set up to act as a crypto merchant bank has to contend with a unique set of challenges when compared to traditional merchant banking.
Launched in 2017, Galaxy Digital received some $302 million in investment from Novogratz and it currently manages about $460 million in assets across three offices in London, Hong Kong and Tokyo. After setting up a trading arm recently, the company is also looking to raise funding and improve its profile with a dual listing in Frankfurt.
A look below the surface, however, reveals an altogether different reality, with the company’s shares having dropped a massive 37 percent since its August debut on the Toronto Venture Exchange in a listing that raised $242 million. It also recorded losses of $134 million in Q1 2018 due to unrealised losses of $85 million on digital assets and trading losses of $13.5 million.
Q2 did, however, produce better results, with $35 million in net income driven by $44.8 million in unrealised gains from principal investments. It also managed to cut its trading losses down to $1.4 million.
Speaking toFTabout his thoughts on the situation, Novogratz said:
“2017 was just fun, it was almost stupid. [But] this year has been challenging. It sucks to build a business in a bear market…[Staff] anxiety levels go up when crypto goes down…In most traditional business, [such as] Goldman Sachs, you don’t worry. There’s not an existential threat out there.””
Known for making consistentlybullishpredictions about the price of bitcoin, Novogratz is reportedly navigating a mini-crisis at Galaxy Digital which earlier this month announced the departure of company president Richard Tavoso and co-head of trading David Namdar., citing a pivot away from consulting for smaller startups to working with large institutional clients.
FTsources claim that the company’s advisory business has received a subpoena from U.S. regulators, but this has not been confirmed by Galaxy.
On his part, Novogratz continues to make bold predictions about the future of cryptocurrencies, predicting that 2019 will see institutional investors move away from investing in crypto funds to crypto assets directly before the end of Q1.
Featured image from Youtube.
The postNovogratz: Trying to Start a Bitcoin Business in This Market Climate ‘Sucks’appeared first onCCN. || New Bitcoin Cash Upgrade Makes Blockchain ‘Immutable’ after 10 Confirmations: A new version of Bitcoin ABC’sBitcoin Cashsoftware has some enhancements that are intended to prevent chain reorganizations from taking place. This is partially in response to “attacks” the network has experienced since the contentioushard forkearlier this month, and partially to prevent a similar situation as wasseenin Bitcoin Cash Satoshi’s Vision a few days after the fork.
According tothe announcement, some new code will limit the effect that a reorganization, or competing chains emerging and potentially neutralizing previously made transactions, can have on an individual client.
“You may have read on different media there are a few miners thatcontinue to threaten the BCH networkwith chain reorganizations. Many see this as a threat to the fundamental functionality of the chain and its use as peer to peer cash. We understand the uncertainty this causes for users, businesses, and the market in general.”
It seems the method used to do this is by changing the parameters under which standardized Bitcoin ABC clients will consider reorganizations. According tothis commit, they must “have enough work piled up.” Additionally, child blocks will not be automatically moved.
Altogether, with a number of other minor improvements in this version, it will indeed be much more difficult for an upstart chain that is longer but has a different transaction record (a situation that can create chaos for the network over short spans, but never actually does damage to user wallets) to simply take over. The default behavior of the clients will no longer be in support of such chains by nature.
“With this new release, you will know that transactions are immutable after 10 confirmations. This protection keeps deep reorganizations from negatively impacting you or your business.”
It doesn’t mean that reorganizations are impossible. It simply means that there are a lot more parameters the clients will consider when such reorgs present themselves.
Another commit “automatically finalizes” blocks after 10 confirmations. This is something like setting the blocks in stone after the nominally required number of confirmations, a situation that reorganizations can refute through having a longer chain/more work.
According to a website thatkeeps up with such things, less than 100 nodes had upgraded to 0.18.5 by time of writing, with a majority still running 0.18.2.
The postNew Bitcoin Cash Upgrade Makes Blockchain ‘Immutable’ after 10 Confirmationsappeared first onCCN. || Ethereum is a Few Years from ‘Profound Decentralization’ — But That’s OK: Co-Founder Joseph Lubin: Blockchain technology will power a monumental shift in society from a “scarcity to an abundance mindset.” These were the words of Ethereum co-founder Joseph Lubin speaking last week at the Web Summit in Lisbon, Portugal.
Delivering his keynote address at the event, Lubin, who is also the co-founder of Ethereum development startup ConsenSys,statedthat Ethereum is likely to play a key role in the redevelopment of the internet as a fully decentralised ecosystem.
In Lubin’s opinion, the continued growth ofblockchain technologywill act as a catalyst for increased innovation at all levels of human society by creating a framework for what he describes as a “self-determined, sovereign identity.”
In other recent remarks, Lubin explained that the evolution of blockchain technology and enhanced decentralisation would lead to a future where individuals will exert greater control over their identity and agency, which will lead to wealth creation as people seek to express themselves more through a number of avenues including an increased appetite for luxury.
During his keynote address at Web Summit, Lubin opined thatEthereumwould play a significant role in developing the so-called Web 3.0 – a new generation internet experience that will utilize decentralization to a high degree. Expanding on this point, he said:
“Ethereum is far in the lead as a viable candidate for web 3.0 largely because of its interoperable and radically decentralized nature. It may be a few years before our ecosystem achieves profound interoperability and decentralization in the base and higher layers. But that is okay. We can grow into the radical future we imagine as we take care of adoption, use case exploration, user interface and user experience definition – all of which will keep us busy for years.”
According to Lubin, there is a difference between wealth generation in the existing paradigm and in atokenized economywhich can be explained by a “qualitative shift in the nature of money” moving society away from a centralised model toward a system of “global villages.”
Lubin’s optimism over the growth of Ethereum is underlined by recent events that indicate that large power players are backing the blockchain to power large-scale disruptions. CCN recently reported that financial giant JP Morgan Chase unveiled a plan to useQuorum, its enterprise version of the Ethereum blockchain, to tokenize gold bars. Speaking recently toFinancial Review,JP Morgan’s head of blockchain initiatives Umar Farooq also praised Quorum and described JP Morgan as “big believers in Ethereum,” which is a marked departure from thelanguageused by JP Morgan CEO Jamie Dimon when referring toBitcoin.
Featured Image from Collision Conference/Flickr
The postEthereum is a Few Years from ‘Profound Decentralization’ — But That’s OK: Co-Founder Joseph Lubinappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
: 1 BTC @ 02:00 CET: 3,549.01€ (-54.51) / $4,022.94 (-62.59) || USD: 113.860
EUR: 128.660
GBP: 148.143
AUD: 82.230
NZD: 77.208
CNY: 16.388
CHF: 113.102
BTC: 717,441
ETH: 23,220
Wed Nov 14 16:00 JST || Bitcoin Sees Strongest 24-Hour Performance Since July, Total Market Cap Jumps $11 Bln
#StraightOuttaCrypto #BTC #bitcoin #crypto #Mining #cryptocurrency #BTCUSD #tokens #bank #blockchain #trading #banks #Strongest #Performance #July #MarketCap #Jumps #Blnhttps://cointelegraph.com/news/bitcoin-sees-strongest-24-hour-performance-since-july-total-market-cap-jumps-11-bln?utm_source=telegram0&utm_medium=social … || Dec 17, 2018 10:31:00 UTC | 3,270.70$ | 2,886.90€ | 2,595.60£ | #Bitcoin #btc pic.twitter.com/ZAjwv5yiyI || #BTCUSD
Chart 1. April 14 to Nov 15
Chart 2. April 17 to Nov 18
Just saying..
#cryptocurrency #Crypto #CryptoNews #bitcoin pic.twitter.com/JlacybNQD0 || 日経平均株価が上昇しているからビットコイン（BTC）の暴騰は間違いなし！？ http://virtual-currency-bitcoin-antenna.com/?p=8341 pic.twitter.com/0lGOOD9FRm || 2/ but all I think you're achieving here is reduced security by locking your bitcoin private key behind a fingerprint instead of the current security measures protecting your private key on your phone hot wallet as one example || Get Free Bitcoin https://qoinpro.com/55e9e71f51eafc907bb6d9da24d898e6 … || Kucoin is one of the best crypto exchanges out there !
Click here: https://www.kucoin.com/#/?r=E3aQNa
$BTC $ETH $LTC $NEO $OMG $BCH $NANO $SAN $EXP $GRID $GNO $COVAL $XEL $TCC $ARN $PKB $XIOS $LA $DPY $OAX $ONION $WINGS $DGD $PBL $MGO $ATB $VTR $QRK 1539886792pic.twitter.com/yRzBGPL6gO || Korea price
Time: 11/26 14:34:00
BTC: 4,606,875 KRW
ETH: 131,262 KRW
XRP: 424 KRW
#Bitcoin #Ethereum #Ripple
|
Trend: no change || Prices: 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-01-07]
BTC Price: 39371.04, BTC RSI: 89.81
Gold Price: 1912.30, Gold RSI: 57.55
Oil Price: 50.83, Oil RSI: 69.93
[Random Sample of News (last 60 days)]
GoodDollar’s Universal Basic Income Project Gains Traction in 180 Countries: GoodDollar, the digital project delivering a Universal Basic Income (UBI), has begun bearing fruit, two months after launching. Conceived as a social project by eToro cryptocurrency exchange, GoodDollar delivers a working implementation of the UBI concept backed by public figures such as Andrew Yang and Square (NYSE: SQ ) CEO Jack Dorsey. At the heart of GoodDollar is the idea of issuing a digital currency that is claimable by anyone in the world with a smartphone who is in need of financial support. Only those truly in need of sustenance will attempt to claim the daily allowance, the theory goes, and so far that has been borne out: many of the claimants have hailed from developing countries where poverty is rampant and the average wage is low. 40,000 Claim UBI in Two Months 40,000 individuals have registered with the GoodDollar app and begun claiming UBI in the first eight weeks, which appears to have taken even the project’s backers by surprise. Citizens of more than 180 countries have signed up and claimed GoodDollar that’s disbursed daily. "Never before have we seen millennials displaying such interest in new digital assets, and the pandemic has only accelerated this trend,” said eToro CEO Yoni Assia. “We see a new influx of people who are hungry to participate in the markets, and adopt new financial innovations. GoodDollar expands financial literacy and access to markets, while providing a digital basic income to fuel its own digital economy." With more than half of those who’ve signed up sticking around and becoming regular users, there are signs that the UBI project has become an early success – and is likely to inspire copycats with a similar social goal. Digital Currency Comes of Age For cryptocurrency supporters, 2020 will go down as the year the movement founded a little over a decade ago by Satoshi Nakamoto came of age. After surviving a pandemic-driven scare in March, when bitcoin dipped below $4,000, the market has rallied, with BTC on course to regain the highs it saw in late 2017. The decentralized finance (DeFi) movement also took off this year, and it is on this concept of open access to financial primitives that GoodDollar is built. Story continues Cryptocurrency has long stood accused by its detractors of being a novel technology in search of a use case. Those claims no longer withstand scrutiny, now that digital assets are being widely used for lending, earning yield, remittance, payments, UBI, and much more. A thriving economy has formed around GoodDollar, with more than 13,000 users frequenting its Facebook marketplace and a marketplace for services denominated in G$ springing up. Given the uncertain future the world faces, in which remote working, automation, and digitalization loom large, GoodDollar has launched at a propitious time. The world will now be watching to see whether this model for financial redistribution is a sign of things to come. Disclosure: None. || Crypto exchange Coinbase hit by connection, latency problems as bitcoin plummets: By Tom Wilson LONDON (Reuters) - Cryptocurrency exchange Coinbase said on Thursday its retail and professional-focused platforms were hit by tech problems, with users reporting difficulty trading as bitcoin plunged towards its biggest one-day drop since September. California-based Coinbase said on its website at 14:14 GMT it was investigating connectivity problems, adding at 14:42 GMT that it had identified the problem and implemented a solution. In a separate post at 15:21 GMT on its Coinbase Pro site it said "increased latencies impacting order entry and settlement" for its Coinbase Pro service, adding it was investigating the problem. A spokesman for Coinbase, one of the biggest cryptocurrency exchanges, declined to comment. Coinbase users on Twitter reported problems trading. One Coinbase Pro user told Reuters by message: "The outage prevented me from submitting a buy limit order which would've been executed as the limit price was met. At this time the order finally went through but I missed the price for now." Bitcoin, the world's biggest cryptocurrency, slumped as much as 13% on Thursday to its lowest since Nov. 16., slamming the brakes on its red-hot rally and sparking a sell-off of smaller coins. It was last down 9% at $16,904 and on course for its biggest one-day drop since Sept 3. The move represents a sharp correction from its three-year high of its near-record $19,521 hit on Wednesday. (Reporting by Tom Wilson; Editing by Tom Brown) || 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. || Money Reimagined: Your Data, Our Humanity: “For the first time in history, privacy and personhood are both mediated digitally … [I]t’s really hard to be a person without being digital, without exchanging data, without passing data.”
So says tech ethnographer Tricia Wang, the co-founder of Sudden Compass, which works on bringing human insights to big data analytics.
The comment reminds us of what’s at stake as we debate the data-monopolizing power of the internet’s biggest companies: the future of what it means to be human.
Related:COVID and Big Tech Burnout Are Pushing Social Tokens Mainstream
For the first time since the “Internet 2.0” era began at the turn of the millennium, the dominant social media, search and e-commerce platforms are facing existential challenges. The disruption could come from legal efforts as anti-monopoly lawsuits evolve in both theU.S. andEurope. Or it could come via some nascent alternatives to the platforms’ centralized model, including from blockchain-inspired startups.
Wang, who joined us on this week’s episode of the “Money Reimagined” podcast, says these responses won’t lead to a meaningful alternative until we gain a better appreciation of the role data plays in our internet interactions. Data, she says, “is not just information. Data is relationships.”
The algorithms of Google, Facebook, Amazon and others place the greatest value not in static, simple information points like your name, address and income, but data that reveals your relationships with other people. Their commercial interest in that data creates real tension because, as Wang notes, the story of our social connections is the story of who we are as human beings.
It’s why the “if you don’t like Facebook, just leave” idea is so naive. All over the world, services like Facebook and WhatsApp are must-have tools. They’re how people find jobs, build businesses and stay in touch with their families. People simply can’t just get up and leave.
Related:What This Digital Asset Investment Firm Missed and Capitalized On in 2020
Yet, those same people are caught in a dependency and have almost zero visibility on how their data is used. It creates an unbalanced economic relationship Wang compares to the idea of the 20th century “company town,” where employees were housed and fed by their employer but had no idea of the real value of their labor.
The “own your data” movement led by people such asCambridge Analytica whistle–blower Brittany Kaiseris no silver bullet either. Once it’s disaggregated from all those connections and human networks, your data alone is not worth very much.A Financial Times calculatorput a person’s basic data at a price of less than a dollar.
Nonetheless, it’s vital to educate ourselves on how we, the people, give up so much in the current relationship.
The imbalance is not just that ad dollars flow to Facebook and Google rather than to the users who generate the content and build the audiences the platforms and their advertisers monetize. It’s that, as detailed in Shoshana Zuboff’s “The Age of Surveillance Capitalism,” we are trapped in an ever-tightening feedback loop in which these companies use our data to modify our behavior. There’s a scary Matrix-like aspect to all this.
It’s why the other guest on this week’s podcast, metaMe CEO Dele Atanda, views his company’s work building a more decentralized, blockchain-powered data marketplace as an exercise in protecting people’s human rights. Creating that marketplace and figuring out a meaningful expression of the value of people’s data is how we will ultimately restore agency over our digital lives, he says.
“We need to create a unit of account that we can measure – not just on the basis of size [as bytes] but on the basis of sensitivity, identifiability. These issues are central to how this information can be used to help or harm us,” he said.
Also important, Atanda says, is the governance structure of the database storing the information, which speaks to the potential role for blockchain technology. The more “permissionless” and decentralized the architecture behind the data marketplace, the more confident individuals can be that they retain ultimate rights to their data.
All of this seems pertinent in a week in which society was once again found vulnerable to data failures at centralized systems.
Google’s servers went down, creating problems for home devices plugged into its network. A hack of a software company SolarWinds compromised numerous U.S. government agencies data. Also, allegations of irregularities of Michigan-based voting machines in last month’s U.S. presidential election helped to further erode trust in the overall electoral system, even though supporters of President Donald Trump failed to substantiate an actual conspiracy in favor of his victorious opponent, Joe Biden.
The reason decentralization is worth considering as a potential solution in all these situations is not because it makes things more efficient. Most often, decentralization makes processes more inefficient. (Note also that Google’s systems run remarkably well the bulk of the time.) It’s that we must restore people’s power over their lives, whether it’s in confidently knowing their votes are being accurately counted or that their data is not being sold to and manipulated by the highest bidder.
Decentralized solutions such as blockchains are expensive and complicated. They are definitely not a panacea for the world’s ills.
But they do deserve consideration. Humanity is at stake.
With bitcoin’s spectacular mid-week rally, we were reminded that big round numbers matter to markets. There’s nothing innately special about the $20,000 level, but the price action before and afterbitcoinbroke above it suggests plenty of people did invest some significance into that number.
On two separate occasions earlier in the month, bitcoin made a run at the $20,000 level but failed. The second was when it set a new all-time high of $19,920 on Dec. 1, putting an end to the high set during the last big rally at the end of 2017. It seems investors had left loads of sell orders just below $20,000 and some may have been there for at least three years. Every time buyers pushed it higher, those orders kicked in to prevent a higher move.
But look what happened when those sell orders were eventually exhausted. Once buyers had pushed bitcoin’s price through the $20K mark, all that resistance disappeared. A mere 24 hours later it had jumped a whopping $4,000. No doubt sell orders are being placed at levels somewhere up above, but for now bitcoin feels quite unencumbered.
WHEN THE BILL COMES DUE.When I read about anew studyauthored by Mario Draghi and Raghuram Rajan on behalf of the Group of 30 Consultative Group predicting a post-COVID “solvency crisis,” my first reaction was, “Finally, the powerful are speaking with honesty on the unsustainable stimulus debts governments are racking up.” My second reaction was, “Oh, yeah, Draghi (former president of the European Central Bank) and Rajan (former governor of the Reserve Bank of India), are no longer in positions of real power.”
The details of the report are illuminating. They make clearer the distinction between the kind of eminent person role Draghi and Rajan now occupy and the significant authority they previously held. As Bloomberg’s Paul Gordon writes, “The report acknowledges that its recommendations require ‘hard choices’ – such as winding down broad aid programs and limiting government support to areas where the market is failing – that could cause a political backlash.”
For the last decade, central bankers have been the biggest conduits of “broad aid programs” in the broadest form of all: monetary expansion, even as they called on governments to relieve them of that stimulus responsibility by taking on the more politically challenging exercise of fiscal stimulus. In office, they are circumspect about that criticism. Out of office, they can be more direct.
The biggest takeaway from this report is concern. In an understandable effort to stave off economic ruin, governments have gone heavily into debt and allowed monetary expansion efforts to pump up financial assets, which has maintained the illusion of balance inside financial institutions’ and corporations’ accounts. The price for all this will need to be paid and it will probably be paid by further deprecation in the value of fiat currencies against other assets. It’s the backdrop to the “why bitcoin matters” thesis now being voiced by big shot investors like Guggenheim Partners’ chief investment officer Scott Minerd, who on Wednesdaypronouncedthat bitcoin should be worth $400,000.
TWO REALITIES.As bitcoin soars and as U.S. stocks continue marching into new record-high territory, the reality is very different from anyone without access to those kinds of assets. As observed by the folksat Upfina, a refreshingly frank economic commentary site, while hedge fund managers and bitcoin HODLers have gotten fabulously rich, 8 million Americans have slipped into poverty since June. In noting that “the main problem is it is expensive to be poor,” Upfina drills down into why the Federal Reserve’s quantitative easing efforts – buying $120 billion in bonds a month – is helping a privileged class of Americans but doing close to nothing to help the suffering of so many more in this pandemic. It’s hard not believe that a major reckoning with monetary policymaking is coming.
Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering.Talk about symbolic timing. After much speculation about going public, Coinbase, the leading cryptocurrency exchange and the first crypto “unicorn,” announced it had filed preliminary documents for an initial public offering with the U.S. Securities and Exchange Commission (SEC). As Danny Nelson reports, it came just hours after bitcoin had burst through $20,000.
Nationalizing Stablecoins Won’t Improve Financial Access.With his inimitable ability to break down the facts of a complex, confusing issue that has into its core realities, CoinDesk columnist Nic Carter weighs in on the STABLE Act fracas. Carter makes a strong case that the motives behind this legislative attempt to impose banking laws on stablecoin issuers of all description is about state control, not about protecting consumers or promoting financial inclusion.
Crypto Is Booming in Economically Challenged Argentina.With its perennial financial crises, Argentina was always ripe for crypto. It has long been one of the most important centers of crypto innovation. But now, it seems, popular adoption is starting to fire up. Sandali Handagama reports on some impressive recent growth in the country.
CFTC’s Latest Crypto Primer Highlights DeFi, Governance.The Commodities and Futures Exchange Commission has long been ahead of its regulatory agency peers in getting its head around technical developments in the cryptocurrency industry. As reported by Nikhilesh De, the CFTC’s latest guidance suggests it is continuing with that trend as it offers a useful primer on decentralized finance (DeFi), a sector that would make many other Washington bureaucrats’ heads explode.
• Money Reimagined: Your Data, Our Humanity
• Money Reimagined: Your Data, Our Humanity || Author Ben Mezrich on Capturing the Winklevii and Plans for a ‘Bitcoin Billionaires’ Movie: What do you know about Mark Zuckerberg? What about the origins of Facebook? Or the Winklevoss twins? Odds are you first learned about them from “The Social Network.” And that film was based on the book “The Accidental Billionaires,” written by Ben Mezrich, who – in a remarkable bit of savvy – sold the movie rights before he even finished the book.
This is Mezrich’s specialty: sniffing out the big stories that seep into the zeitgeist. He pulled the same trick with blackjack (“Bringing Down the House,” later adapted into the movie “21”), UFOs, wooly mammoths and, most recently, bitcoin.
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. This interview with Ben Mezrich, author of “Bitcoin Billionaires,”has been condensed and lightly edited for clarity.
Related:The Blockchain NFT Wars Are Here
Mezrich returned to the world of the Winklevii with “Bitcoin Billionaires,” the book that introduced the story of the Bitcoin system (through the prism of the Winklevoss twins) to a new mainstream audience. And as 2020 draws to a close, Mezrich seems to have caught a bit of crypto fever, relishing his role as a Bitcoin Bull. “Bitcoin 20K! Now everyone who ever bought bitcoin and held has made money,” he tweets, noting that “Ain’t nobody talkin’ bout tulips anymore.”
The author’s influence goes beyond Twitter. In early 2020, in what feels like 37 years ago, Mezrich worked as a writer on Season 5 of “Billions,” helping the show nail its crypto arc and nudging the storyline further to the mainstream. From the way Mezrich gushes online aboutbitcoin, you’d assume a good chunk of his assets are pegged to BTC and that he’s on the cusp of buying Lambos.
The exact amount of his holdings?
Zero.
Related:Druckenmiller, Jones and Bitcoin’s Perfect Trading Machine
“I don’t own any bitcoin,” Mezrich tells me in our wide-ranging conversation. “I’m sure my book inspired a lot of people to buy it. And a lot of people are going to get a lot richer than I am because they read my book. And I’m happy for them.”
Mezrich is not into bitcoin to get rich but to help tell its story. And this he does well. From his pandemic-getaway home in Vermont, he explains how the Winklevoss twins are misunderstood, why “mining is one massive mind-f**k,” shares some behind-the-scenes nuggets from the writing room of “Billions,” teases that Armie Hammer might reprise his role in a movie or TV adaptation of “Bitcoin Billionaires,” and floats the possibility of a sequel to “The Social Network.”
Let’s start with the twins.
How’d you first get involved in the world of crypto?
Ben Mezrich:So when I wrote “Accidental Billionaires,” that started as a random email in the middle of the night, from a friend of Eduardo Saverin’s. It was just: ‘My best friend founded Facebook, and no one’s ever heard of him.’ And when I started writing that book, I reached out to the Winklevoss twins. When I first met them, they were the bad guys, or at least that’s how I viewed them. They were the big jocks, dressed up in skeleton costumes, chasing the Karate Kid around the gym. But the Winklevoss twins were incredible sources, and I stayed in touch with them.
A lot of people are going to get a lot richer than I am because they read my book. And I’m happy for them.
They actually came to the movie premiere. Even though they didn’t love everything about their portrayal, at least their story was being told. So we got along very well. I thought they were very honest people, but I really only saw them in one light. I knew nothing about Bitcoin [the blockchain]. People over the years have said, “You should write about Bitcoin,” but I’d never been interested in writing about it because, honestly, it just sounded likemath. I hate that word “blockchain.” And I didn’t really know the story. Then, years later, my wife saw a headline that the Winklevoss twins are the first bitcoin billionaires. [In anarticlefrom The New York Times’ Nathaniel Popper.]
And that’s a total curveball, right?
Mezrich:I thought, “Wow, that’s strange.” Because I assumed you’d never hear from these guys again. And then I see them as billionaires suddenly in their own right. And I thought, “Okay, now that makes bitcoin interesting to me.”
How have your thoughts on the Winklevoss twins changed?
Mezrich:It was sort of looking at them again in a totally different light. Not that theyaren’tthese big Olympic athletes who were the cool kids on campus. All of that is still true. But they’re not one-sided. These are guys who definitely understood something about revolutions, and understood something about starting a business and entrepreneurship and building something.
And it wasn’t an accident that they had stumbled into bitcoin. Because a lot of people stumbled into bitcoin. Every one of us had heard about bitcoin, but we’re not all billionaires. What’s crazy about bitcoin is that every one of us could be a billionaire right now, because we all could have once afforded 200,000 bitcoin when it was just [worth] pennies.
See also:Winklevoss Twins to Help Produce‘Bitcoin Billionaires’ Book for Film
What were your first impressions of the crypto space?
Mezrich:The first thing you kind of have to get through is the question of whether this is a scam. Whether this is a scheme. Or tulips. Or a bubble. And when I first got into the story, bitcoin had fallen from its height of $20,000 down to $3,000.
And then the second thing, of course, is the Silk Road stuff, and where Bitcoin came from. The people who were into Bitcoin originally were outsiders … fringe people. The people who understood it first were not mainstream people. So one of the things when I started researching was, “What is Bitcoin? What is it supposed to be? And the people who were into it at first, are they going to be the people who will take it to that next place?”
What was intriguing about the Winklevoss twins is that they came into it from a very different perspective from the people who started it – the Roger Vers of the world. They had a very different perception of what Bitcoin is supposed to be. And that conflict feeds the whole book.
You seem like quite the bitcoin bull. You’re optimistic about the space?
Mezrich:I don’t own bitcoin. I have missed out again and again and again. If I had taken my book advance in bitcoin I would be retired right now. [Laughs.] I would have had made six times my money. And I kick myself every day because I don’t have any bitcoin.
I never would have guessed that!
Mezrich:As a writer, my goal is not to make money on bitcoin, my goal is to tell the story of bitcoin. And I think, at first, that really was something I did purposefully. I am a big believer in where bitcoin is going, and I love the fact that people are going to get wealthy off of it. And I think that we should be happy when people take a risk and succeed because it’s inspiring. People were willing to take a risk, and they were smart enough to look at it the way other people didn’t. And everyone was telling them they were wrong. I love that. I love that Silicon Valley didn’t get it. And I love that the mainstream economic world just didn’t understand it.
I didn’t buy any Facebook stock either, and I was in on that story before the IPO. I’ve written a lot of stories that have made a lot of other people rich while I stay in Vermont and watch them get rich. If some hedge fund was smart enough to just hire me, I could sit in a room and tell them what they should invest in.
They should totally hire you!
Mezrich:They should! You should tell them that. Tell them in your article I’m available. Just put me up in an office and I’ll give you a couple of ideas.
You’re kind of like the “anti-quant,” you’re like the “qualt” for extremely qualitative analysis.
Mezrich:Exactly.
The qualts are the guys who come in, think of book ideas, and that’s where you put your money.
Mezrich:It’s really true. I mean, listen, I was in on DraftKings before DraftKings appeared. I wrote a book called “Straight Flush” about the online gambling world. I wrote a book called “Woolly” about the woolly mammoth coming back to life, and it’s all about genetic engineering. I mean, I’ve been on the verge of a lot of these stories because I’m looking for revolutions every time. It’s cool to see these things happen. And it’s neat that with bitcoin, I’m actually able to watch in real time. Right now it appears to be finding this mainstream voice, which is amazing.
What’s your process for finding story ideas?
Mezrich:Most of my main stories have come to me just luckily and randomly. Someone calling or emailing or messaging me on Twitter, just finding me and pitching me a story. That’s where a good three-quarters of my stories have come from. I’m also always on the lookout. But it’s really tricky. I can’t just write agoodstory. It needs to be big enough that everyone in the world is going to want to read it, that Hollywood is going to want to make a big movie about it.
They were the big jocks, dressed up in skeleton costumes, chasing The Karate Kid around the gym. But the Winklevoss twins were incredible sources, and I stayed in touch with them.
Every book I’ve ever written, I’ve sold the movie rights before I sold the book rights. For every project I do, I write a treatment, I sell the Hollywood rights and then I write the book. And I won’t write a book if I don’t think it can be this huge international movie or whatever. So the stories have to bebig. They have to be woolly mammoth big.
See also: Jeff Wilser –Addicted to Crypto?
What stories have you tried to get but it didn’t quite work out?
Mezrich:I’ve tried to get to [Tesla CEO] Elon Musk because I’m fascinated by someone who breaks all the rules and changes everything. I think that’s a story that I would obviously want to write, and I think I’d be the right person to write it. But I haven’t heard back from him.
I don’t know what the next thing will be but I always have my eyes open. When someone pitches me a story, I have a checklist in my head of what I’m looking for. And one of the important things is having access. So when people just tell me, “Oh, you should write about this, or you write about that,” that’s kind of useless, because I’m not going to throw my hat in the ring with 100 other journalists and chase someone down the street.
What do you mean exactly?
Mezrich:That’s not the kind of writer I am. I have to have specific, unique access to the story. Like Eduardo coming to me to tell the Facebook story, or the Winklevoss twins willing to tell me their story. I need that because I’m not a journalist. I’m not a newspaperman. I have friends who are very good newspapermen, and what they do is something I can’t do. I can’t track things down. I can’t chase people down. It’s not what I do. I’m the person who translates someone’s story into a book and a movie.
I love that self-awareness. What else is on that checklist of yours when you’re looking for a good story?
Mezrich:The first thing is the elevator pitch. With “Bringing Down the House,” it was the perfect one-sentence: “Six MIT kids who took Vegas for millions.” You can’t get better than that. It literally was a true story about six brilliant math kids, who took down Las Vegas. Beautiful. And so for every book, I’m looking for that. I need to have that one-sentence. It’s got to be that simple.
Second, it has to be big. Vegas. Wooly Mammoth. Facebook. Bitcoin. It has to be something that everyone in the world has heard of, but they don’t already know the story.
And the next thing is you have to have access to the story that no one else can have. Those are the main things.
What are some stories that you almost wrote, but it didn’t work out for whatever reason?
Mezrich:I’ve been pitched so many amazing stories over the years. I’m trying to think of the famous ones. [Pauses. Thinks.] Charlie Sheen’s people came to me. And I thought about that. And then my wife was like, “You can’t spend a year with Charlie Sheen.”
Smart lady. Let’s talk about “Billions” and its crypto arc. How’d you get involved?
Mezrich:It was over Twitter, to be honest with you. So I knew Brian Koppelman and David Levine, who make the show. Not personally. We had kind of known about each other, but never really met. And then Brian called me up to talk about “Bitcoin Billionaires.” He was intrigued and wanted to know what the movie situation was, all that kind of stuff. So we were just chatting about that, and he asked if I’d ever written for television before. And I was a huge “Billions” fan.
Charlie Sheen’s people came to me. And I thought about that. And then my wife was like, ‘You can’t spend a year with Charlie Sheen.’
Amazing. What was it like working in the writer’s room?
Mezrich:It’s really cool. Part of what I think I was there for – and why it worked so well – was that Ilivewith these people. I’m not just a writer from LA. I know billionaires. I know private jets. I know that world because that’s what I’ve been writing about, and been involved with, for the past 20 years.
The show did a good job translating some blockchain and mining concepts. How’d you crack that?
Mezrich:I had some great connections to real people [in the blockchain space] that I met through the twins and others. So we were able to work with consultants who really knew what they were doing to try and put together a mining rig, or a multi-mining rig. It needed to look as real as we can make it. “Billions” is an incredible show in that it works so hard to get the details right.
What were some of the toughest crypto concepts to translate to a broad audience?
Mezrich:Well, it’s the mining. Mining is one massive mindf**k. I mean, we all know that. To try and explain mining to my mother is physically impossible. It’s just not gonna happen, right?
Totally.
Mezrich:Like, I’m too old to understand mining. If you’re over the age of 40, it’s very hard to understand what the hell is going on, right?
Basically.
Mezrich:And no matter how many times you explain it, it still doesn’t really translate. And so that was tricky. And also the word “blockchain.” What is “the blockchain?” Good God. I mean, that word is thrown about in every industry now. And I guarantee you, 80% of people are using it incorrectly. It’s just not an easy concept, and it never will be.
And there’s another reason why I am so impressed by people who are into Bitcoin, and into it early. They were understanding very complicated things. The way I understand Bitcoin is actually quite simple: peer-to-peer, electronic money, nobody in between. It’s a simple, simple concept. But then as I did my book tour, people would be asking me questions that just had nothing to do with that. About nodes, right?Nodes. What the hell is a node? All of these things that, obviously, Ishouldunderstand, but that’s not part of my story.
That must be a constant dilemma, how technical to get in stories?
Mezrich:When I wrote the Facebook story, it was very similar. You could get very complicated in writing that story. That’s never been my goal. I never wanted to have Mark Zuckerberg sitting in front of a computer, other than looking at a simple screen and coding. Similarly, I never wanted to have the Winklevoss twins or Charlie Shrem or Roger Ver or anyone talking about nodes, because it’s going to kill your audience.
Any plans to return to “Billions”?
Mezrich:So, Season Five got split in half. It got interrupted by COVID-19. I don’t know when that’s going to start filming again, but I think I’m technically a consulting producer on the second half as well, because those episodes were already written. But I’d be happy to write for the show any time Brian and David wanted me to. I just had such a wonderful experience.
What are you working on now?
Mezrich:I wrote a serialized novella in the Boston Globe in May, it was like a “Da Vinci Code”-style thriller.
This is “The Mechanic,” right?
Mezrich:Yeah. And it was very successful; we had hundreds of thousands of readers. It was an incredible experience where I literally wrote a chapter, handed it in and it was in the newspaper the next day. I wrote the book in basically two weeks. It was a really crazy experience and I ended up selling the book. It’s actually going to be two books: one coming out next fall and one the following year. And then I sold the movie to Spielberg, to Amblin [Amblin Entertainment], and I’m writing the screenplay.
Not a bad gig!
Mezrich:Oh, no pressure at all, writing a screenplay to Steven Spielberg! It’s a little terrifying, but I’m working on the screenplay for Amblin. The goal is for it to be a big feature movie and a big franchise book. And if it does what I hope it does, I hope to be writing a lot of these. I’m really fascinated by it – reinterpreting history in ways that people don’t realize “this is how things actually happened.”
What can you tell us about a possible “Bitcoin Billionaires” TV or movie?
Mezrich:It’s atStampede. Greg Silverman, who is a wonderful producer – and who used to be one of the heads of Warner Brothers – is leading the project to make it. [The Winklevoss twins arealso involved.] Hollywood got a little frozen by COVID-19. We were on track to get something going, and now everyone’s just waiting to see what the hell happens. I would love to see it being a big feature, but a lot of the greatest stories are being told in TV. So either way, it would be phenomenal and exciting.
I think we got Mark Zuckerberg exactly right and the Winklevoss twins exactly wrong.
Is there any talk of getting Armie Hammer to reprise his role as the Winklevoss twins? That would be incredible.
Mezrich:I would love to get Armie. I think the twins would love to see Armie do it. I think Armie is just a phenomenal actor, and he’s become iconic and that’s a part he was born to play. So I’d love to see it, and there’s not that many actors who can play the Winklevoss twins. You could get Thor, right? [Chris] Hemsworth? There are some guys who could maybe handle it, but Armie was phenomenal and I’d love to see that.
And if you get Armie, then it could be like the MCU [Marvel Cinematic Universe], where “The Social Network” and the “Bitcoin Billionaires” live in the same connected cinematic universe, right?
Mezrich:Yeah. That’s the way I’ve always seen this: That Facebook was the Avengers, and we could do a sequel to Facebook, which is kind of the “Avengers 2,” but meanwhile you tell the origin stories. We have the Winklevii. And then we do Sean Parker. I would love to do a Sean Parker story. Or a Sheryl Sandberg story.
[Beat.] I don’t know if Mark will let me do his story. He doesn’t like me so much. But there’s definitely a lot of stories to be told in that world. And I think there will be a sequel to “The Social Network.” I really do.
Interesting.
Mezrich:I know Aaron Sorkin wants to write it, I know Scott Rudin is interested in producing it. If they could get [David] Fincher into it, I think it would really happen.
You’re someone who helped bring the backstory of Facebook into the public eye, and now – especially in the wake of all the lawsuits and potential regulation–Facebook is seen very, very differently by the world. What has that been like for you?
Mezrich:I always say, I think we got Mark Zuckerberg exactly right and the Winklevoss twins exactly wrong. I really do think that this [the 2020 reality] is the Zuckerberg from “The Social Network.” This is what he was always going to be. He was a bit megalomaniacal, brilliant, but he wants Facebook to be in his image and how he believes the world should be, and everyone else can go screw themselves. And I think that he really and truly created the company in a way that he has that control and he has that power.
Sheryl Sandberg [Facebook chief operating officer] is supposed to be the adult in the room, and to some extent that’s what she was attempting to be, but I think they just got caught in thing after thing after thing and now they’re in a tricky situation. And I understand this is much more complicated than people want it to be. The idea of,Are you a publishing company? Do you have to edit content? Should you be editing content?
Right. There aren’t easy answers here.
Mezrich:But I definitely think that this is where Zuckerberg was always going to take the company. His goal was to dominate the world with it and to put us all on Facebook. And we’ve gotten there to some extent. So yeah, I’m not surprised by any of it.
Predictions on how this all shakes out?
Mezrich:I don’t believe you can break up a social network. I think social networks have to be monopolies. Because if everyone you know isn’t on Facebook, then you’re not going to go on Facebook. There’s no point to it if everyone’s not doing it. So if it’s not a monopoly, it’s just a failure. And similar with Twitter. If everyone shifts to Parler or whatever, then everyone’s on that one.
Right, right.
Mezrich:But I do think there needs to be some self-policing, if not outward policing. I really think that these places just become cesspools. They become something like out of “Mad Max,” especially Twitter. It’s just complete craziness and it brings out the absolute worst in people.
“Cesspool” is a good word. On a more positive note, for your next project, maybe something involving AI?
Mezrich:You know what? I agree with you. That would be cool. It’s the question of what story to tell that hasn’t been told. But if something happened in AI that I found out about … Like, if someone really made one [an AI person] and nobody realized it …
Exactly, like if we find out there’s some kind of public personality or celebrity that’s actually an AI bot?
Mezrich:That would be perfect. If you hear about that, send it my way.
Will do. Thanks again.
• Author Ben Mezrich on Capturing the Winklevii and Plans for a ‘Bitcoin Billionaires’ Movie
• Author Ben Mezrich on Capturing the Winklevii and Plans for a ‘Bitcoin Billionaires’ Movie || Bitcoin Breaches All-Time High Above $35K, Sidelining Ethereum Rally: Bitcoin (BTC) was bullish at press-time and traded above the $35K mark reaching an all-time high of $35,587.66 late Tuesday night as the gains in the cryptocurrency exceeded those of Ethereum (ETH). What Happened: The apex cryptocurrency traded 10.72% higher at $35,275.05, while ETH traded 8.22% higher at $1,21,08 at press-time. Grayscale Bitcoin Trust (OTC: GBTC ) closed 12.34% higher at $39.41 and Grayscale Ethereum Trust (OTC: ETHE ) ended the day 14.92% higher at $13.79 on Tuesday. Most altcoins followed Bitcoins lead and traded in the green with Litecoin (LTC) higher by 7.99% at $163.35 and Bitcoin Cash (BCH) up 6.34% at $427.76. Chainlink (LINK) traded 9.95% higher at $14.65 and Monero (XMR) was up by 3.92% at $135.62. XRP was an outlier to the trend and traded 1.63% lower at $0.23. On Tuesday, Blockchain.com became the latest cryptocurrency exchange to halt XRP trading after a lawsuit was filed against issuer Ripper Labs. Why It Matters: Katie Stockton, a technical analyst for Fairlead Strategies, said, The signs of exhaustion that appeared in December were absorbed via a brief consolidation phase, and there are no active overbought sell signals, reported CoinDesk. If bitcoin continues to rally at its current rate, I believe we could see a price of $54K around Valentines Day, said NEMs head of trading Nicholas Pelecanos, as per CoinDesk. Meanwhile, the Ethereum futures market is reportedly bubbling with open interest on major venues growing to $2.95 billion in total, a rise of $350 million. Brain Mosoff, CEO of Ether Capital said that spot price has the potential to grow and the futures are an indicator of that. ETH is still below the all-time high, and many believe with all the positive news in the latter half of 2020 it still has room to grow, said Mosoff. See more from Benzinga Click here for options trades from Benzinga As Bitcoin Crossed K, Institutional Buyers On Coinbase Made Record Purchases Why Ethereum Is Surging Today As Other Cryptocurrencies Remain In Red © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Market Wrap: Bitcoin Pushes Past $23.7K While Crypto Locked in DeFi at All-Time High: Bitcoin hits a new high at $23,770 on higher-than normal volume; DeFi’s total value locked has also hit a record on the strength of ether.
• Bitcoin(BTC) trading around $22,818 as of 21:00 UTC (4 p.m. ET). Gaining 9% over the previous 24 hours.
• Bitcoin’s 24-hour range: $20,756-$23,770 (CoinDesk 20)
• BTC below its 10-hour moving average but well above the 50-hour on the hourly chart, a bullish-to-sideways signal for market technicians.
The price of bitcoin continued its rise to all-time highs, going up to $23,770 as of press time in a highly bullish run that had lots of volume-fueled momentum.
Read More:Bitcoin Drops Nearly 7% After Setting New Record High of $23,770
Related:First Mover: Bitcoin Rally Stalls as 'DeFi Summer' Proves Endless
The $23,800 level may be a spot of exhaustion for the world’s oldest cryptocurrency, according to Constantin Kogan, partner at financial firm Wave Financial. “There’s some strong selling resistance at $23,800. Let’s see if bitcoin can break it,” Kogan told CoinDesk.
Volumes on Thursday were higher than on Wednesday, with the eight major exchanges tracked by the CoinDesk 20 seeing over $3.5 billion in volume so far as of press time versus $2.9 billion the day previous.
“Breaking the $20,000 psychological barrier was a strong bullish signal allowing bitcoin to set a new record high,” said Elie Le Rest, partner at crypto quant trading firm ExoAlpha. However, Le Rest cautioned about crypto’s classic gyrations possibly affecting the market. “Volatility is very high and small pullbacks have been witnessed along the way.”
Indeed, bitcoin’s 30-day volatility has been picking up and will be something to watch over the balance of December.
Related:Deribit's New Options Allow Bitcoin Traders to Bet on Rally to $100K
“Traders should be careful and on the lookout for stronger pullbacks, especially with year-end approaching and traders looking to close their 2020 profit-and-loss,” added LeRest.
Chris Thomas, head of digital assets Swissquote Bank concurred, saying the most recent move feels too strong for his taste. “I’m just waiting for a few big sellers to come back to the market and take profits,” Thomas said. “Let’s look ahead to the next few weeks. Institutional volumes will drop significantly through Christmas so the market will be driven by retail until early January.”
“This should cause us to keep the high volatility, but we’ve got to also be aware there may be a chance of testing $20,000 to the downside,” added Thomas.
Read More:Coinbase Files With SEC in Preparation for Landmark Public Offering
Henrik Kugelberg, a crypto over-the-counter trader, noted “fear of missing out” or FOMO as a factor playing into the market’s fervor. “There is of course an element of FOMO in this but the fundamentals are stable as pyramids,” Kugelberg said. “I have said $30,000 before summer but by the looks of this, that might be a very low bid.”
The second-largest cryptocurrency by market capitalization,ether(ETH) was up Thursday trading around $640 and climbing 2.7% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
The amount of crypto “locked” in decentralized finance, or DeFi, is at $16 billion as of press time, increasing over 2,200% from the $690 million locked at the start of 2020.
Meanwhile, the amount of ether locked in DeFi is going up, over 7.1 million ETH total.
Yet the amount of bitcoin locked in DeFi has actually fallen during the market’s price run, down to 142,652 BTC.
Nicholas Pelecanos, head of trading for blockchain ecosystem provider NEM, told CoinDesk many investors continue to overlook the Ethereum network and its alternative assets, also known as altcoins.
“While bitcoin has largely dominated the narrative, I believe investors should look to altcoins that have tremendous amounts of development in both the core technology and usership, yet are still a fair way off their all-time highs,” said Pelecanos. “I am expecting to see the price of these altcoins, such as ETH and XEM, rally hard when the BTC price inevitably slows down.”
Digital assets on theCoinDesk 20are mostly green Thursday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• xrp(XRP) + 14%
• litecoin(LTC) + 13%
• stellar(XLM) + 5.5%
In addition, prices for COMP, the governance token for the Ethereum-based lending protocol Compound, jumped on the news that Compound Labs will build a new blockchain to provide money market services across multiple networks.
As CoinDesk reported, the new blockchaincould be significantbecause those new supported assets won’t be limited to blockchains – it is designed to also support the forthcoming and rumored central bank digital currencies. Like Compound v1, the new blockchain will also be governed by the COMP token. Once it goes live, it will add more value to COMP holders. At the time of writing, prices for COMP were traded at $167.14, up 9.43% in the past 24 hours, according toMessari.
Notable losers:
• orchid(OXT) – 2%
• algorand(ALGO) – 1.8%
• omg network(OMG) – 1%
Equities:
• Asia’s Nikkei 225 ended the day climbing 0.18%,led higher by gains in Fujitsu Ltd., Mitsubishi Materials Corp. and Softbank Group Corp, all up 4% or more Thursday.
• The FTSE 100 in Europe closed down 0.30%after the Bank of England announced it would keep interest rates at 0.10%.
• The S&P 500 in the United States gained 0.60% asoptimism towards more government stimulus before the end of 2020 boosted the index.
Read More:Robinhood Pays SEC $65M to Settle Allegations It Misled Customers
Commodities:
• Oil was up 1.1%. Price per barrel of West Texas Intermediate crude: $48.40.
• Gold was in the green 1.1% and at $1,884 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed Thursday jumping to 0.933 and in the green 1.2%.
• Market Wrap: Bitcoin Pushes Past $23.7K While Crypto Locked in DeFi at All-Time High
• Market Wrap: Bitcoin Pushes Past $23.7K While Crypto Locked in DeFi at All-Time High || BlackRock’s Fink Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset: The head of the world’s largest asset manager has provided a somewhat bullish take on the world’s first cryptocurrency.
According to areport by CNBCon Tuesday, CEO of BlackRock Larry Fink saidbitcoinhas “caught the attention” of many people and that the cryptocurrency market was still relatively small compared to others.
Speaking to former Bank of England Governor Mark Carney at the Council on Foreign Relations on Tuesday, Fink said the nascent cryptocurrency asset class can possibly “evolve” into a global market asset, CNBC said.
Related:BlackRock's Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent
According to the report, Fink also said having a digital currency has a real impact on the U.S. dollar, making it less relevant on a global scale for international holders of dollar-based assets. He also raised the question: “Does it change the need for the dollar as a reserve currency?”
See also:Crypto Long & Short: What We’re Getting Wrong About Druckenmiller and Bitcoin
The comments are a still relatively rare endorsement from a major traditional financial players but follow on the heels of even more bullish views from billionaire hedge fund managersStanley DruckenmillerandPaul Tudor Jones II, who are allocating a portion of their assets to bitcoin.
BlackRock is the world’s largest asset manager with over $7.4 trillion dollars in assets under management, according to the manager’s website.
• BlackRock’s Fink Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset
• BlackRock’s Fink Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset
• BlackRock’s Fink Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset || Why Bitcoin Thrives (and Why It Won’t Replace the Dollar): Bitcoin is the leader of the pack in the crypto space. It has recovered from the disastrous crash of 2018 and is heading back towards the price it reached in December 2017. So what does the future hold for bitcoin? Could it eventually replace the dollar as the global reserve currency, as its loyal supporters claim? Will it eventually crash and die, asNouriel Roubini has predicted? Or is it destined to remain a speculative asset, spicing up investment portfolios but never being adopted as a main medium of exchange?
More than a decade after its emergence from the ashes of the financial crisis,bitcoinis still a minority sport. Predictions thatit will reach $1 million or moreseem wildly over-optimistic. Nor is it showing any signs of becoming a main medium of exchange. Over the last 10 years, the U.S. dollar has entrenched itself ever more firmly as the world’s premier settlement currency. Bitcoin is no nearer universal acceptance than it was when it started.
Frances Coppola, a CoinDesk columnist, is a freelance writer and speaker on banking, finance and economics. Her book “The Case for People’s Quantitative Easing,” explains how modern money creation and quantitative easing work, and advocates “helicopter money” to help economies out of recession.
Related:Crypto Execs Need Liability Insurance
But bitcoin has survived two major crashes and numerous smaller ones, and is now on the way up again. Unlike many smaller cryptocurrencies, its value has never fallen to zero – indeed, over the 12 years of its existence, its value has risen considerably. Volatile though it is, it has demonstrated that it can hold value over the longer term. It has achieved a degree of maturity as a store of value, though not as a medium of exchange.
It’s tempting to predict Bitcoin’s future based on its performance so far. Speculative high-yield asset, yes. Long-term store of value, maybe. Medium of exchange, not so much. But as any investor knows, past performance is not a guide to future returns. So let’s examine whether despite its apparent resilience, bitcoin’s value could still fall to zero, and conversely, what it might take for bitcoin to replace the dollar as the global reserve currency.
To understand how either of these scenarios could happen, it’s instructive to look at how fiat currencies work. What gives fiat currencies value – and how do they lose it?
There are two competing theories for what gives fiat currencies value: what we might call a “metallist” theory, that the value of a fiat currency is conferred by the gold to which it used to be pegged, and the “chartalist” theory, which says that a fiat currency has value because people have to pay taxes in it. Of course, neither applies to bitcoin: it has never been pegged to gold, and no government accepts taxes in it. So are there other ways in which a currency can acquire and hold value over the long term?
Related:Data Is Labor: Why We Need Data Unions
See also: Frances Coppola –Banks Are Toast but Crypto Has Lost Its Soul
Underpinning both the metallist and the chartalist view of fiat currency value is a deeper fundamental: the belief that what backs the currency is itself trustworthy. In the case of metallists, it is the belief that gold will always be valuable. This belief has been tested over millennia and never failed, so it is probably reasonable. Less reasonable is the notion that a currency currently not pegged to gold is valuable because it used to be pegged. However, many metallists believe fiat currencies will eventually be re-pegged to gold (more on this shortly).
For chartalists, the underlying belief is the government is capable both of imposing tax liabilities and collecting them. Ability to tax doesn’t have to mean authoritarianism: Reasonable taxation by a government perceived as fair and benign is actually more likely to result in a stable currency than punitive and unfair taxes harshly enforced.
What gives currency value, therefore, is trust in whatever is backing it. So what is backing bitcoin? Responding to the criticism that “bitcoin isn’t backed by anything,”the investment website Fidelity Digital Assets said, “Bitcoin is backed by code and the consensus that exists among its key stakeholders.”
The sort of social and political collapse that would destroy the dollar would surely also destroy global civilization.
This is a statement of faith. It amounts to “the code is perfect, and the key stakeholders would never do anything to make it less than perfect.” Neither is necessarily true, but all is necessary for bitcoin to hold value is for a sufficient number of people to believe it.
The code isn’t perfect, of course. If it were, it would never have been hard forked. But Fidelity Digital Assets has an answer to that one too. Bitcoin may not be immutable, but its community is: “While Bitcoin’s open-source software may be forked, its community and network effects cannot.”
Many people have commented on Bitcoin’s cult-like nature, which appears to be a design feature – the pseudonymous leader who disappeared after three years, the refusal of those who know who Satoshi is to reveal his/her identity, the reverence with which followers treat the sayings of Satoshi and his/her close associates. Network effects are particularly strong in cults, and the incentives of cult members are not necessarily financial. True believers remain invested in bitcoin and actively trading even when the price is falling catastrophically, because of their faith bitcoin will eventually become the heart of a new world order. While they exist, there will always be an incentive to mine bitcoin – and while that remains the case, the price cannot fall to zero.
See also: Jill Carlson –Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs
So the faith of bitcoiners is what gives bitcoin its value. If they were to lose that faith, the currency’s value would fall to zero. But is their faith alone enough for bitcoin eventually to replace the U.S. dollar as global reserve currency?
There are at present no indications whatsoever that the world is likely to ditch the dollar anytime soon. If anything, the present pandemic has increasedreliance on the dollar, forcing the Federal Reserve to provide more liquidity to financial markets. Even in crypto markets, there is a growing need for greenbacks – after all, what are stablecoins but a means of tying cryptocurrencies ever more tightly to the dollar?
A global switch to bitcoin would cause the mother of all financial crises, destabilizing not only conventional markets but crypto markets, too. However, a significant number of people, including but not limited to bitcoiners, think this is not only possible but inevitable. They believe that quantitative easing (QE) will eventually trigger uncontrollable hyperinflation of all major fiat currencies. This belief has proved persistent despite the failure of QE to generate significant price inflation anywhere in the world.
In the early 2010s, people who believed in this hyper-inflationary Armageddon thought the inevitable result would be the return of the global gold standard. Some of them still believe this. But bitcoin’s true believers argue it is bitcoin, not gold, to which the world would turn when fiat currencies crashed and burned.
Why bitcoin? Because it has both the advantages of gold and the convenience of digital currency. It is not issued or controlled by a government, and – unlike gold – its supply increases predictably and will eventually be permanently fixed. It can be subdivided into tiny amounts, making it more usable than gold as a medium of exchange. And as its value increases, the prices of real goods and services bought with it will fall. A digital currency independent of government and naturally deflationary would be just what would be needed to restore trust in money after the dollar’s hyper-inflationary collapse.
But hyper-inflationis very much associated with social, political and economic collapse. So those who believe bitcoin is destined to replace the dollar as the premier international reserve and settlement currency, and investing in it for that reason, are essentially betting on the collapse of the U.S. and the unravelling of the current international order.Sudden disastrous hegemonic collapses are the stuff of apocalyptic fiction, not reality. It took over half a century and two world wars for hegemony to transfer from Great Britain to the U.S., and even then the transfer was slow and not particularly disorderly. The sort of social and political collapse that would destroy the dollar would surely also destroy global civilization.
See also: Frances Coppola –Why Bitcoin-Like Scarcity Would Be a Disaster for the Dollar
Would people even have the devices, broadband and electricity needed to use and mine bitcoin after such a catastrophe? The apocalyptic fiction of the Cold War era, when nuclear war was a real threat, unanimously says “No.” Not only would the devices and the electricity fail to survive, but in their own struggle to survive people would quickly forget they ever existed. You can’t eat bitcoin.
It’s possible the world might avert a deflationary collapse by agreeing to make bitcoin the underpinning of a global system of digital fiat currencies, much as gold underpinned the “Bretton Woods” system of the post-World War II period. But the Bretton Woods system barely lasted 20 years before global economic imbalances and conflicts fatally destabilized it. Why would “Bitcoin Woods” last any longer?
When faith rules the roost, people believe all sorts of incredible things. Bitcoin replacing the dollar as the global reserve currency is such an incredible thing. The chances of it happening seem very small. But as long as bitcoin’s supporters continue to believe that it is destined to rule the world, bitcoin will have value; others can benefit from that value even if they don’t share the belief. Thanks to the faith of bitcoin’s true believers, bitcoin will continue to be a good bet for investors.
• Why Bitcoin Thrives (and Why It Won’t Replace the Dollar)
• Why Bitcoin Thrives (and Why It Won’t Replace the Dollar) || ‘Decentralized Court’ Aragon Association Hit With Flurry of Resignations: Twelve staffers involved in the Aragon Network announced their resignations Thursday because of its apparent lack of financial transparency. In a letter posted on GitHub and shared in the group’s Discord channel, AA governance lead John Light said he was leaving. “I no longer recognize the place that I used to love to work,” he wrote. “I believe it no longer reflects my values, nor the values of the Aragon Manifesto .” Light was with the AA for three years, according to his blog . Aragon Network is a decentralized autonomous organization (DAO) seeking to build digital courtrooms that “make it possible for organizations, entrepreneurs and investors to do business without a legal nexus,” according to Messari . The project is backed by the Association and Aragon One, a business venture funded by the Association. Related: Bitcoin Goes Institutional, Ethereum Spreads Its Wings: CoinDesk Q4 2020 Review While Light declined to comment to CoinDesk, he implored in his letter for the AA to “to publish all meeting minutes and financials for public review” going forward. Light’s resignation was then followed by 11 other public resignations of staffers of Aragon One, the for-profit firm leading the protocol’s development. Almost every resignation post in the project’s Discord channel was linked to Light’s letter. CoinDesk has reached out to several former Aragon developers for comment. Aragon Association financials The mass exodus of Aragon developers was preceded by some 52,000 in ether (ETH) from the project’s 2017 initial coin offering (ICO) moving onto various exchanges on Dec. 15 and Dec. 22 . At least some of that ETH – worth $63.9 million at press time – was moved into various other cryptocurrencies and tokens , particularly the dollar-pegged tether (USDT) stablecoin. It’s unclear if the mass transfer of funds was a catalyst for the resignations. Light declined to comment. Story continues Related: Maker's MKR Token Surges to 2-Year High on DeFi Growth The AA retains ownership over the group’s ICO funds, according to the Aragon Manifesto, which was the fourth-largest ICO at the time of its completion. Aragon Association co-founder Luis Cuende said the ETH was moved for “portfolio diversification” when asked by community members in Discord. “While I am saddened to see these resignations, some divergence in the approach to building Aragon, or any project for that matter, is inevitable,” said Aragon Association Executive Director Joe Charlesworth. “The Aragon Association was proud to have funded the valuable work of third-party groups such as Aragon One. Ultimately, however, Aragon is bigger than any one individual, and it is bigger than any one group.” In a statement on Discord, Aragon One CEO Jorge Izquierdo said: “For now I just want to say that I feel the deepest respect for all the Aragon One team members that have decided to leave upholding the Aragon Manifesto to the direst consquences. You guys are Aragon and your loss is irreplaceable.” UPDATE (Jan. 7, 20:49 UTC): This article has been updated with quotes from Charlesworth and Izquierdo. Additionally, while Light was employed by the Aragon Association, the 11 other resignees were employed by Aragon One. Related Stories ‘Decentralized Court’ Aragon Association Hit With Flurry of Resignations ‘Decentralized Court’ Aragon Association Hit With Flurry of Resignations
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37, 36178.14, 35791.28
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-11-23]
BTC Price: 4347.11, BTC RSI: 14.57
Gold Price: 1221.00, Gold RSI: 52.23
Oil Price: 50.42, Oil RSI: 17.22
[Random Sample of News (last 60 days)]
Millennials Are Conflicted About Their Finances, but This Solution Can Help: Millennials tend to get a bad rap for their so-called reckless spending habits, but in reality, they're pretty grounded on the money front. Not only do 41% of younger Americans manage to save a portion of their earnings each month, but a larger number of millennials is socking away funds for retirement than any other age group, including Gen Xers and baby boomers. Still, a large number of millennials are confused about managing their money, and it's no doubt causing them undue stress. Only 40% of younger Americans feel they're clear on how much they can afford to spend versus how much they should be saving for the future, according to new data from Northwestern Mutual . Meanwhile, 78% of millennials feel torn by the pressure to strike a good balance between current and future responsibilities (say, paying off student loans versus saving for their own kids' college). Man in suit presenting document to smiling young couple. IMAGE SOURCE: GETTY IMAGES. Furthermore, while the stereotypical millennial picture involves a young adult sipping overpriced coffee while indulging in a $10 slice of avocado toast, the reality is that many millennials feel overwhelmingly guilty about treating themselves. In fact, 29% feel uncomfortable or nervous about spending money even when they know they can afford the purchases in question. The truth is that millennials, by nature, have limited experience in the real world compared to their older counterparts. As such, many might learn to resolve these issues over time. But if you're struggling to manage your money or balance your priorities, it pays to enlist the help of a financial advisor to set you on the right track. The guidance you need Some people think that financial advisors are only for wealthy folks who need help managing their millions. But that's just a myth, because you certainly don't need to be rich to seek outside help with money matters, nor do you need to reach a certain income level or age. In fact, the younger you are when you first meet with a financial advisor, the more you stand to benefit in your lifetime. Story continues Not only can a financial advisor help you determine how much to spend versus save, but he or she can help you invest your money in a manner that aligns well with your risk tolerance and goals. Imagine you want to build a family and own a home in the next 10 years. Your strategy will probably be quite different from that of your neighbor who has no interest in procreating or owning property. But without the help of a financial advisor, you might struggle to make the right choices. Of course, you shouldn't just hire any old financial advisor , so if you're new to the game, here are some questions to ask when making your decision: What sort of fees do you charge? Advisors typically make money by collecting commissions or charging you a fee that's a percentage of your assets under management. Usually, the latter is better for you as a client. Either way, your goal should be to find an advisor who's open about his or her fees, no matter what they happen to be. Are you a fiduciary? Not all financial professionals are fiduciaries, but those who are must always put your best interests as a client ahead of their own. Be sure to favor advisors who hold to the fiduciary standard, since you're less likely to get sold an investment that generates a massive commission but not so much in the way of returns. How risky are the investments you'd recommend? There's no such thing as a risk-free investment, and anyone who tells you otherwise isn't honest enough to deserve your business. How often do you check in with clients? Managing your money is an ongoing process, and one you should be involved in, even if you're outsourcing that task to a professional. That's why you'll want to choose an advisor who will communicate with you regularly and schedule ongoing meetings to assess your goals and progress and review your investments' performance. Of course, a good way to know that you're getting a solid financial advisor is to seek out recommendations from colleagues, neighbors, or family members who already work with people they're happy with. You'll still want to ask the above questions to ensure that you're covering the right points, but this way, you can approach those conversations with an added degree of assurance. 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 . || It’s Rough Times for Miners amid Bitcoin Price Crash: The relentless tornado that’s ravaging the crypto world is leaving no prisoners in its wake. Theplummeting priceof all major coins means that mining cryptocurrencies is currently no longer profitable for many miners–both individuals and companies.
Everyone’s been following the horror show of the past week or so as the bitcoin cash drama unfolded and the selloffs began, asOKEx forced early settlement of BCH futures contractsand cryptoville plunged into a tailspin.
We’ve woken up day after day to bleeding markets and seen bitcoin hit its lowest point in 13 months at $4,134, with many analysts predicting the bottom is yet to come.
At the time of writing, the total crypto market cap hovers around$140 billion(one-fifth of its worth in January of this year) with bitcoin dropping some 30% in price in the last week alone.
This affects many stakeholders–investors, traders, blockchain companies, and employment in crypto-related services–not least of all mining.
According to theSouth China Morning Post, cryptocurrency miners are starting to make losses and beginning to dump their mining rigs, as the drop in price is leaving them vulnerable–and out of pocket.
Cryptocurrency mining has long evolved from the individual computer nerd, mining bitcoin from his parent’s house by solving a complex mathematical equation. It’s now a mass-scale activity taking place in behemoth mining farms.
If you’ve ever seen what a mining farm looks like, you’ll have some notion of the costs that go into production. Companies likeBitmainandCanaan(with the largest cryptocurrency mining operations in the world) require so much power for mining cryptocurrencies that special rigs have to be set up.
With over 80% of the cryptocurrency mining centered in China, mining bitcoin according to many popular current practices is now no longer worthwhile there. Some mining farms are actually running at a loss when they take into account the high costs of power and machine management associated with mining.
At least four models of bitcoin mining machines consume too much power to make mining profitable at the moment. These include Bitmain’s Antminer S7 and Antminer S9, and Canaan’s AvalonMiner 741–and many are being removed from production.
Mining cryptocurrency, just like mining precious resources, is subject to supply and demand. If there ain’t no one buying gold, goldmines are shut down. The same is true with digital gold.
Bitmain and Canaan, along with Ebang (a smaller rival), have all announced plans to go public in Hong Kong this year. However, thanks to the latest drop, this is starting to look increasingly unlikely.
According to theNikkei Asian Review, “controversial” companies like cryptocurrency mining were always going to have a hard time trying to convince regulators that their assets are no risk to investors. And with the market bleeding as it is, their valuations will almost certainly need to be recalculated.
Canaan just let its six-month application lapse and Bitmain and Ebang, well, they desperately need a market rebound.
Hong Kong-based mining platform Suanlitou has already suspended its contracts with Bitmain’s Antminer T9, which was, at its highest point, the most in-demand rig in the market.
The company explained that it couldn’t cover the costs of management and electricity of the rig for all mining carried out in a 10-day period from November 7.
China is responsible for the majority of all cryptocurrency mining thanks to its cheap energy and coal-fired power in the Inner Mongolia and Xinjiang Uygur regions. There are also plenty of hydropower stations that were intended to power smart cities that never came to fruition.
This surplus power has turned China into a paradise for miners–but market conditions are changing.
As no respite is in sight from the nuclear winter right now, Jack Liao from the Shenzhen Lightning Asic bitcoin mining firm cited in the South China Morning Post said, “many people won’t survive.”
Images from Shutterstock
The postIt’s Rough Times for Miners amid Bitcoin Price Crashappeared first onCCN. || Bitcoin Cash, Litecoin and Ripple Daily Analysis 10/11/18: Bitcoin Cash Sees More Red Bitcoin Cash fell by 5.71%, off the back of Thursdays 6.7% slide, to end the day at $546.2. For the current week, 4 days of losses left Bitcoin Cash down 4.5% Monday through Friday. A relatively bullish start to the day saw Bitcoin Cash move back through to $600 levels with an intraday high $603.8 before hitting reverse, the days high falling short of the first major resistance level at $611.23. The reversal saw Bitcoin Cash slide through the days first major support level at $560.53 and second major support level at $542.07 to a late in the day intraday low $526.6 before steadying. While crypto exchange support ahead of the hard fork had provided some impressive daily gains, uncertainty ahead of the 15 th November hard fork ultimately did the damage through the week. At the time of writing, Bitcoin Cash was up 0.26% to $547.6, with a range bound start to the day seeing Bitcoin Cash recover from morning low $537.6 to a morning high $551 before easing back, the days major support and resistance levels left untested early on. For the day ahead, a move back through the morning high $551 to $559 would support a run at the days first major resistance level at $591.13 to bring $600 levels back into play, though Bitcoin Cash will need to make a move by late morning and hold above $559 to support an afternoon rally. Failure to move back through the morning high could see Bitcoin Cash hit reverse later in the day, with a pullback through the morning low $537.6 bringing the first major support level at $513.93 into play, with sub-$500 support levels in play should sentiment deteriorate through the day. {alt} Litecoin Sees Red Litecoin fell by 0.75% on Friday, following on from Thursdays 3.29% slide, to end the day at $51.66, 3 consecutive days in the red leaving Litecoin down 4.12% for the current week. An early morning intraday high $52.53, that fell short of the first major resistance level at $53.69, was the only bullish move of the day, Litecoin falling to an early afternoon intraday low $51.07, calling on support at the first major support level at $51.14 before steadying into a range bound second half of the day. Story continues At the time of writing, Litecoin was down 0.15% to $51.58, with Litecoin recovering from a morning low $51.45 to hit a morning high $51.83 before easing back, the tight ranges leaving the days major support and resistance levels untested. For the day ahead, a move through the morning high $51.83 would support another run at $52 levels to bring the days first major resistance level at $52.44 into play, while we will expect Litecoin to fall short of $53 levels for a 2 nd consecutive day. Failure to move back through the morning high could see Litecoin take a bigger hit later in the day, with a pullback through the morning low $51.45 bringing the days first major support level at $50.98 into play before any recovery, the second major support level at $50.29 and sub-$50 support levels unlikely to be tested barring particularly negative news hitting the wires. {alt} Ripple Bucks the Trend Ripples XRP gained 1.41% on Friday, partially reversing Thursdays 8.14% slide, to end the day at $0.50448, with moves through the week giving Ripples XRP a 7.32% gain for the current week. A bullish start to the day saw Ripples XRP rally to an early morning intraday high $0.52163 before easing back to an early afternoon intraday low $0.49579. Finding support through the afternoon, Ripples XRP managed to reclaim $0.50 levels, while the moves through the day left the major resistance and support levels untested. At the time of writing, Ripples XRP was up 0.56% to $0.50729, with Ripples XRP moving from a start of a day morning low $0.50326 to a morning high $0.50926 before easing back, the days major support and resistance levels left untested early on. For the day ahead, a hold onto $0.5073 through the morning would support a run at $0.51 levels to bring the days first major resistance level at $0.5188 into play, with support from the broader market needed to bring $0.52 levels into play following Fridays trend bucking gains. Failure to hold onto $0.5073 through the morning could see Ripples XRP hit reverse later in the day, with a fall through the morning low $0.50326 bringing the days first major support level at $0.493 into play before any recovery, the second major support level at $0.4815 unlikely to be in play barring particularly negative news hitting the wires. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction Gold Drops Following Hot PPI Report AUD/USD Weekly Price Forecast Aussie dollar runs into resistance S&P 500 Price Forecast stock markets break down on Friday Silver Weekly Price Forecast Silver markets testing major support Gold Weekly Price Forecast Gold markets roll over for the week S&P 500 Weekly Price Forecast stock markets take back much of the losses for the week || Did the Mt. Gox Trustee Bitcoin Sell-Off Cause the Crypto Market to Crash?: On September 25, the Mt. Gox trustee released a document entitled “Announcement on Measures to Secure Interests of Bankruptcy Creditors,” disclosing the sale of over $230 million worth of crypto including Bitcoin and Bitcoin Cash.
While it still remains unsure whether the decline in the price of BTC and the valuation of the crypto market was triggered by the sell-off of Bitcoin and bitcoin Cash by the Mt. Gox trustee, the recent correction of the market coincided with the release of the document.
Since March, within a period of six months, 25.98 billion yen ($230 million) of Bitcoin and Bitcoin Cash were sold by the Mt. Gox trustee in the cryptocurrency exchange market.
The daily volume of Bitcoin is estimated to be around $4 billion, which increases to mid-$5 billion in rallies and corrections. Tens of millions of dollars worth of Bitcoin can be easily liquidated and absorbed by the cryptocurrency market without demonstrating unexpected price movements.
But, if $250 million worth of Bitcoin is dumped on the cryptocurrency exchange market in several big chunks, it is possible to trigger a domino effect across major trading platforms and cause the price of BTC to drop.
If the BTC price dropped by 3 percent due to the Mt. Gox trustee and its sell-off of $230 million in BTC, then the Mt. Gox either sold a large chunk of its holdings throughout the past week or decided to dump the entire $250 million on exchanges several days before drop in the valuation of the market.
Hence, while it is possible that the Mt. Gox trustee had an impact on the downtrend of Bitcoin, it is not realistic to solely attribute the wipeout of $22 billion from the market to the sell-off of the Mt. Gox trustee.
Rather, as seen in the rapid decline in the price of XRP, the native cryptocurrency of Ripple, which fell by more than 15 percent in a 24-hour period, it is more likely that the sell-off of Ripple led the crypto market to fall, affecting both Bitcoin and Ethereum.
Jed McCaleb, a co-founder of Ripple, who is estimated to have more than $2 billion in XRP, has started to accelerate the sell-off of XRP.
“A founder’s increasing sale of XRP could be a negative for the token’s value, just as it would be if a CEO of a publicly traded company suddenly started dumping shares in the company’s stock,”the WSJ reported.
More to that, if the Mt. Gox trustee caused the valuation of the crypto market to drop, once the document was released, it should have led the market to initiate a short-term recovery. However, the crypto market is still showing no signs of recovery from its fall on September 25.
The corrective rally of the crypto market in the last seven days demonstrated strong momentum and volume. But, as it is possible for Ripple to record a three-fold increase in price, it is possible for the market to record a 20 percent decline in a 24-hour period.
In the upcoming months, depending on the performance of BTC, the crypto market may initiate a corrective rally after stabilizing in the low $200 billion region.
Featured image from Shutterstock.
The postDid the Mt. Gox Trustee Bitcoin Sell-Off Cause the Crypto Market to Crash?appeared first onCCN. || French tobacco shops to sell bitcoins via fintech company: By Inti Landauro PARIS (Reuters) - French tobacco shops, where people go to buy lottery tickets and cigarettes, will start offering bitcoins to customers from early next year via a deal with a French fintech company Keplerk. Keplerk said it has secured a contract with a local cash register software provider to give tobacco shops the possibility to sell the cryptocurrency to their customers. The tobacco shop owners will sell customers a voucher which can be used to obtain bitcoins via an electronic wallet owned by Keplerk. They will be the first brick and mortar shops to sell bitcoins anywhere in the world, Keplerk said. "Tobacco shop owners are the best channel as they are trusted by customers and they are used to sell vouchers such as credit for mobile phones," Adil Zakhar, Keplerk's director for strategy and development, said. Keplerk has been working on the project to sell bitcoins to retail investors for a year and a half. French regulators, including the country's central bank, have warned savers about the potential risks associated with investing into cryptocurrencies. The central bank said it does not supervise the Keplerk initiative. "Those are purely speculative assets and not currencies. Those who invest in bitcoin or other crypto-assets do it at their own risk," the Central Bank said in a statement on Wednesday. France's 24,000 licensed tobacco shops have already diversified to sell lottery tickets, credits for cellphone operators or video and music streaming services. Keplerk said it will finance the project by charging a 7 percent commission fee on every transaction. Bitcoin has attracted a mix of investors, some convinced that it can reshape global finance by displacing traditional means of payments and others attracted by rapid gains that pushed it close to $20,000 in December. It has since lost three-quarters of its value, falling below $4,500 on Tuesday. (Reporting by Inti Landauro, additional reporting from Thomas Wilson. Editing by Jane Merriman) || Bear Biased Trend of Bitcoin: Weak Momentum Could Send BTC to $5,750: Over the past 24 hours, the valuation of the crypto market has remained at $205 billion, mostly due to the stability of Bitcoin at $6,350.
The gap between BTC/USDT (Tether) and BTC/USD has declined to around $50, with the Bitcoin-to-Tether pair being traded with a $50 premium. The announcement of Tether LLC’s new partner bank Deltec has led to a minor recovery of USDT.
“We hereby confirm that, at the close of business on October 31, 2018, the portfolio cash value of your account with our bank was US$1,831,322,828,” Deltec Bank and Trust Limited said.
With the price of USDT nearly back to $1, the cryptocurrency market is expected to see an increase in stability.
Accordingto Eric Thies, managing partner at UTR and a cryptocurrency technical analyst, the last time 3-day moving average convergence/divergence (MACD) demonstrated a downside movement, the price of Bitcoin dropped by around 12 to 20 percent.
“3D MACD crossing to downside, price has ranged -12% to -20% in this bear market when that happens, the former being the most recent. At a current drop of 12%, $BTC touches its current low at $5,750 – $5,800 range.”
The weak momentum of Bitcoin portrayed by its MACD and other momentum oscillators could lead to the decline in the price of the dominant cryptocurrency in the short-term, despite many of the positive developments the cryptocurrency market have seen over the past several months.
Investors expect the launch of the Bakkt Bitcoin futures market in December to trigger a short-term rally for BTC, along with renewed enthusiasm towards the BTC exchange-traded fund (ETF) filing of VanEck, SolidX, and CBOE.
But, until a major catalyst like Bakkt leads a strong rally for BTC, the weak volume, momentum, and low trading volume of the cryptocurrency market are likely to result in a drop in the price of BTC.
Whether the low momentum of BTC leads to a drop below the $6,000 support level, which BTC has defended quite well since August, remains uncertain. The past price movement of BTC could be used as an indicator for future movements but they do not guarantee an identical movement.
Hence, while a dip in momentum caused the price of BTC to drop by more than 12 percent earlier this year, the 12 percent drop occurred in a higher price range. BTC has remained in the tight range of $6,300 to $6,800 for more than three months to break that range on the downside will require significant sell volume in a short period of time.
On October 1, Ripple, Bitcoin Cash, and Ethereum recorded decent gains in the 2 to 3 percent range, as BTC demonstrated a slight recovery of around 1 percent.
Over a dozen tokens surged by more than 10 percent against both BTC and the USD, for the first time since mid-September.
As long as the volume of BTC remains at the current level, a major movement on either the upside or the downside is less likely in the upcoming days.
Featured Image from Shutterstock. Charts fromTradingView.
The postBear Biased Trend of Bitcoin: Weak Momentum Could Send BTC to $5,750appeared first onCCN. || OKCoin Adds the Argentine Peso as It Eyes Expansion Into Latin America: Despite a prolonged cryptocurrency bear market and regulatory uncertainties,OKCoin, one of the largest cryptocurrency exchanges in the world, is expanding to Latin America launching a new exchange platform headquartered in Buenos Aires, Argentina.
Already active in 110 countries and 21 U.S. states, OKCoin USA CEO Tim Byun toldBitcoin Magazinethat he is not worried about market volatility as they launch on a new continent:
“Overall, we are very bullish on the cryptocurrencies markets throughout the world and in Latin America in particular. The growth might not be perfectly linear, but we fundamentally believe in the potential of cryptocurrencies to fix what ails many of the infrastructure problems that ail the global economy.”
Launching today, November 15, 2018, OKCoin will allow traders in Argentina to deposit Argentine pesos (ARS) in exchange for cryptocurrencies, including bitcoin, bitcoin cash, ether, ethereum classic, litecoin, ripple, ada, stellar, zcash and 0x, with more being added soon.
OKCoin plans to begin its expansion by opening an office in Buenos Aires and then building up a team to support its business throughout Latin America. Other Latin American fiat currencies will be added in the coming months.
“There is a huge opportunity within Latin America and Argentina, in part because traders in the region are extremely savvy and in part because the Argentine peso has experienced a lot of volatility,” Byun explained.
“As the value of Argentina’s fiat currency remains uncertain, consumers there are looking for other options to invest in currencies that are not backed by any central bank or hard asset.”
In a recentstudyof the top cities in the world for bitcoin adoption, the authors found that Buenos Aires had the 8th highest adoption rate in the world, making it the leading bitcoin city in South America.
Buenos Aires has 130 merchants accepting bitcoin and three bitcoin ATMs in a city of 2.9 million people that is struggling with the volatile peso and a32 percentyearly inflation rate.
Argentina is alsoknownas one of Latin America’s top destinations for software development, with blockchain startups like CoinFabrik that offer blockchain development for other startups.
RSK Labs is also active in Argentina’s blockchain development ecosystem, creating Rootstock, a smart contract platform connected to the Bitcoin blockchain. RSKrecently partneredwith the Universidad de Buenos Aires (UBA) to offer courses in blockchain technology as part of the university’s Information Engineering program.
OKCoin says it puts a premium on the importance of security and calls it “the core and center to our business.”
They told us they have assembled one of the industry’s largest teams of security and fraud experts to stay ahead of hackers, and, since its launch in 2013, the company has developed a sophisticated system of security measures to handle new challenges like its Latin American expansion.
Byun added: “Preventing hacks is one of the most important roles for an exchange like ours, and we are proud to report that in the five years since our launch, our exchange has never been hacked, not even once.”
The Argentine Parliamentrecognizescryptocurrency as property, not as currency, so currently, the exchange of coins is legal. The Argentine government permitted the installation of200bitcoin ATMs in October 2017.
Byun comes to OKCoin with U.S. experience in risk and compliance with the FDIC (Federal Deposit Insurance Corporation) and the Federal Reserve Bank of San Francisco.
In the U.S., at least, OKCoin says all its regulatory ducks are in a row and it is properly registered as an MSB (Money Services Business) with FinCEN (Financial Crimes Enforcement Network).
Byun concluded by encouraging the crypto community to keep on innovating:
“It’s been remarkable to witness the tremendous amount of creativity and ingenuity being poured into the market. We believe the combination of the internet and blockchain technologies will create a whole new paradigm of applications and use cases. As such, we will continue to look for the best and the hottest cryptocurrency projects to list on our exchange.”
This article originally appeared onBitcoin Magazine. || Colorado State Commissioner Issues New Cease-and-Desist Orders Against Four Crypto Firms: Colorado State Commissioner Issues New Cease-and-Desist Orders Against Four Crypto Firms Colorado Securities Commissioner Gerald Rome has issued a new batch of cease-and-desist orders against unregistered Initial Coin Offerings (ICOs) operating in the state, taking the total number of signed orders against ICOs in Colorado to 18. Today's orders follow last week's order issued by the North Dakota's financial regulators against a Russian-based ICO that promoted unregistered securities by impersonating Liechtenstein-based Union Bank AG. Per an official notice from the regulator, Rome signed the new orders against Global Pay Net, Credits LLC, CrowdShare Mining and CyberSmart Coin Invest for allegedly publishing misleading statements on their websites with false promises to defraud investors. Global Pay Net markets its native currency “GLPN Coins” to Colorado residents, which clearly states that the ownership of the tokens represents “full-value assets that represent one’s share in the business,” while promising investors 80 percent of the company's profits. Credits, also solicits investments for its currency, known as “Cred (CX)” which it claims would “be worth tangible value,” while promising investors a future windfall. CrowdShare Mining and CyberSmart Coin Invest both promote the idea that owning their cryptocurrency would offer benefits to the investors. CrowdShare Mining promises investors 50 percent of the profits while fraudulently stating that its tokens would be mined through renewable energy sources. CyberSmart claims to use robots to trade on popular crypto exchanges where it has uncovered a secret model for making huge profits. The company also promises investors about 20 to 35 percent returns monthly. Commissioner Rome commented on the development stating that the number of orders issued against ICOs should serve as a “red flag to all investors that there is a real risk that the ICO you are considering is a fraud.” He went on to add: “Our investigations show that there are fraudsters who will simply create a fake ICO to steal investors’ money, or spoof a legitimate ICO to trick investors into wrongfully paying them. The orders are the results of the investigations carried out by the ICO Task Force set up in May 2018 within the Department of Regulatory Agencies (DORA) to look into unlawful activities targeting cryptocurrency investors in Colorado. This article originally appeared on Bitcoin Magazine . || Bitcoin Will Not Challenge Gold as a Safe-Haven Asset: Equity Analyst: Though many bitcoin investors believe multi-layer scaling solutions such as theLightning Network(LN) will eventually make BTC a viable payment instrument for the proverbial coffee purchase, most argue that the flagship cryptocurrency’s primary short-term use case is as “digital gold.” However, an equity analyst at one of the world’s most respected investment research firms said that he doesn’t expect bitcoin to make a noticeable dent into the yellow metal’s market share.
Writing in Morningstar Research Services’ short-form investment commentary series, the “Morningstar Minute,” equity analyst Kristoffer Inton noted that ifbitcoindid begin to replace gold as a safe haven asset, it would represent a “seismic shift” in the investment case for the precious metal as 40 percent of gold demand comes from investors.
“If cryptocurrency were to displace gold’s investment case, the implications for gold prices would be devastating. 40% of gold demand relates to investment, so a shift in investment from gold to cryptocurrency would be a seismic shock.”
However, Inton, who has been at Morningstar since 2013, wrote that the firm has created a proprietary framework for evaluating assets as stores of value and found that cryptocurrency does not score well on this rubric, leading him to continue recommending long-term investments in certain gold stocks, including Goldcorp.
“In order to assess the threat, we’ve created a framework to grade any asset class’s viability as a safe haven by focusing on liquidity, functional purpose, scarcity of supply, future demand certainty, and permanence. Through this framework, we conclude that cryptocurrency does not and will not challenge gold as a safe-haven asset class.”
Nevertheless, cryptocurrency bulls maintain that bitcoin does have a solid investment thesis as “digital gold” because, although it is currently quitevolatile, it possesses many of gold’s attractive features (e.g. liquidity and scarcity) while also alleviating some of its drawbacks, such as its lack of portability and impracticality for payments.
Billionaire investor Peter Thiel, for instance, said earlier this year that he is long on bitcoin, even if it never matures as a payment instrument.
“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest,” he said. “I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest.”
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Will Not Challenge Gold as a Safe-Haven Asset: Equity Analystappeared first onCCN. || Nail in the Coffin? BTC.top Shifts Hash to Bitcoin Cash ABC to ‘End Chaos’: Significant cryptocurrency mining outfit BTC.top has begun mining bitcoin cash on the blockchain supported by Bitcoin ABC (BCHABC), potentially putting another nail in the coffin of the minority Bitcoin SV (BSV) chain. Including its BTC operation, the pool has more hash by itself than all of BSV combined, meaning that the threat of a potential attack byCalvin Ayre’s CoinGeekis essentially neutralized as long as the BCH mining landscape remains otherwise consistent.
BTC.top CEO Jiang Zhuoer announced the move Saturday morning, stating that it was time to “end [the] chaos” caused by last week’scontentious hard fork.
Intervening blocks of BCHABC have been largely mined by BTC.com and Bitcoin.com. BTC.top regularly mines up to 6 percent of the regularBitcoinnetwork, and their contribution to BCHABC has resulted in a rate of about 5 percent of all blocks mined.
Zhuoer has written extensively in his native Chinese on the subject of the Bitcoin Cash debate. Some translations have been hard to decipher as they have had to be done from OCR images. All the same, he can be quoted as saying in anEnglish-language blog post on the subject:
“Therefore without an effective arbitration mechanism to prevent unnecessary splitting of the BCH chain, it will impede adoption, which implies a reduction of users. This conflicts with the ideology of high-frequency use for a cash system. […] [H]ash voting is not a segmentation based on power, but rather it assumes the role of a jury which reflects the opinion of all participants in the system. The community has the right to signal their preference using all sorts of methods to affect voting. […] Hash vote is not the same as miner vote, but rather acts like a jury to reflect opinions of everyone in the community.”
In Proof-of-Work (PoW) systems, the longest chain wins, and currently, BCHABC is consistently ahead of BSV. Zhuoer has not indicated how long his pool will support ABC’s Bitcoin Cash chain, but at present, it seems the pool is mining both bitcoin cash and bitcoin proper. In fact, over the week it had mined 10 percent of the blocks in the regular Bitcoin network.
As for the BSV chain, four pools have primarily mined all of its blocks – CoinGeek, BMG Pool, and SV Pool. At time of writing, BSV was effectively seven blocks behind BCHABC, and its blocks were much larger in size.
Featured Image from Shutterstock
The postNail in the Coffin? BTC.top Shifts Hash to Bitcoin Cash ABC to ‘End Chaos’appeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin: $6,580.00
-0.70% (-$46.50)
High: $6,668.60
Low: $6,473.24
Volume: 377
$BTC #BTC #bitcoin || 1 BTC = 24281.95080000 BRL em 10/11/2018 ás 22:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || Oracol Xor coin is in the process of being added on the Trade Btc Exchange ( the addition process will be probably will be finalized by mid to end of October). A short video of the Exchange Trading interface : https://t.co/DYQf7aMnd2 || XDNA #Vaultmex Price Alert
Time: 2018-10-26 00:30:05
#XDNA 0.00001900BTC
Change:-98.73%
#instaethereum #instaairdrop #decentralized #trading $BTC #vaultmex
https://vaultmex.com || Oct 12, 2018 16:00:00 UTC | 6,252.10$ | 5,407.70€ | 4,751.70£ | #Bitcoin #btc pic.twitter.com/UW4Bun4Ju6 || 2018/10/07 07:00
#Binance 格安コイン
1位 #HOT 0.00000018 BTC(0.13円)
2位 #NPXS 0.00000023 BTC(0.17円)
3位 #BCN 0.00000034 BTC(0.25円)
4位 #DENT 0.00000035 BTC(0.26円)
5位 #NCASH 0.00000082 BTC(0.61円)
#仮想通貨 #アルトコイン #草コインhttps://wp.me/p9uE3r-u || [20:00] Most mentioned tickers in the last 4 hours: $BTC $ZRX $ETH $XRP $PURA $GLD $BAT $ABX $ETC $TRXpic.twitter.com/Zozfkib0Ur || $BTC prime for further loss? - #BTCUSD charthttp://www.tradingview.com/chart/BTCUSD/MdI2NZF2-BTC-prime-for-further-loss/ … || 16 Noviembre, 2018 04:00 pm #Bitcoin cotiza en $ USD 5574.41147533 || 1 Bitcoin ( #BTC )
Dollar: 6329.00$
1 Bitcoin Cash ( #BCH )
Dollar: 4,75.93$
1 Ethereum ( #ETH )
Dollar: 198.60$
1 Ripple ( #XRP )
Dollar: 0.45319$
Date: 3 Nov 2018 18:8
#Bitcoin #Ethereum #cryptocurrency #crypto #altcoin #Blockchain #Ripple
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Trend: no change || Prices: 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-04-25]
BTC Price: 40458.31, BTC RSI: 45.22
Gold Price: 1893.20, Gold RSI: 39.05
Oil Price: 98.54, Oil RSI: 45.20
[Random Sample of News (last 60 days)]
‘The ICOA Fund’: The Revealed Brand Name of Soon-To-Launch BTC-denominated Fund: The fund’s brand name will provide a clear connection to parent company, ICOA Inc.
LAS VEGAS, NEVADA, April 22, 2022 (GLOBE NEWSWIRE) -- BGBF, a Southeast Asia Bitcoin-denominated fund that will be launching its highly-anticipated second sub-fund in early May 2022, has announced that ‘The ICOA Fund’will be the official brand name of this second sub-fund.
Set to be a Monetary Authority of Singapore (MAS)-regulated fund, this second sub-fund has so far been referred to by its working title of ‘BGBF-2’.
The rationale behind choosingThe ICOA Fundas the brand name is to deepen and demonstrate the strong bond and collaboration it will have with its parent company, ICOA Inc.
ICOA Inc. as the parent company, andTheICOA Fundas a subsidiary brand, will undoubtedly draw from the other’s reputational strengths and networks. Together, they will more powerfully increase the awareness and reach of the ICOA brand, with the overt connection between parent and sub-fund allowing for joint marketing opportunities and efficiencies.
BGBF’s holding company, BCMG, was acquired in late 2021 by ICOA Inc. (OTC PINK: ICOA). ICOA Inc.is a publicly traded Nevada-based company operating in the fintech, blockchain, decentralized finance (DeFi), and cryptocurrency spaces through strategic acquisitions and joint ventures.
TheICOA Fundwill launch with a hard commitment of 2000 BTC. It will invest exclusively in BTC and BTC Derivatives, and offer insurance coverage and underwriting for public offering security insurance (POSI). The new fund will retain the strap-line of ‘Multiplying Bitcoins’ used by BGBF’s first fund, BGBF-1.
Details on the trading philosophy and investment structure behindTheICOA Fundwill be announced at launch. As a summary:
1. A maximum of 70% will go towards three BTC yield generating sub-strategies;
2. A maximum of 30% will be invested into Market Making and liquidity pools of carefully selected projects.
ICOA Inc.’s CEO Hadria Wong comments: “ICOA and BGBF effortlessly connect on our collective core mission of bridging traditional finance and virtual assets. As we have learned through working alongside each of our subsidiaries, our ecosystem is much more powerful when we combine forces and lean on each other. The ICOA team is thrilled to soon launch ‘The ICOA Fund’and turn it into a great success and opportunity for our investors.”
Top level information on the The ICOA Fund can still be found at www.BGBF.fund. The new URL of www.icoa.fund will go live in the next 24 hours. Please note that a branding transition will be in operation for the next week. Website visitors are therefore advised that references to BGBF-2 might still exist until the official launch of The ICOA Fund in early May 2022.
For more information on ICOA Inc., please visiticoa.techor the official ICOA Twitterhere.
For further information, please [email protected]
About ICOA
ICOA is a publicly traded Nevada-based company operating in the fintech, blockchain, decentralized finance (DeFi), and cryptocurrency spaces. Establishing itself as a heavyweight in the innovative tech space through introducing millions of people— across forty states— to wired and wireless broadband networks, ICOA now looks to the next wave of transformative technology— blockchain.
The highly experienced ICOA team supports its investors through strategic acquisition, identifying the most promising and exciting opportunities across the whole blockchain ecosystem. By acquiring or partnering with a spectrum of deliberately chosen projects or teams from key verticals, ICOA delivers on its mission of bringing digital assets to every portfolio and making blockchain opportunities accessible and safe for retail and institutional investors alike.
For more information on ICOA, visit its company websitehere.
About BGBF
BGBF is Southeast Asia’s first POSI-insured, Bitcoin-denominated, and Monetary Authority of Singapore (MAS)-regulated fund. A unique fund with a Bitcoin (BTC) in, Bitcoin out structure, BGBF multiplies its clients’ BTC while providing them with additional unparalleled security measures— so they can trust their assets are in safe hands.
Open to accredited investors as per Singapore Jurisdiction, BGBF delivers guaranteed returns through an innovative investment strategy and provides convenience through effortless FIAT conversions. Investing in BTC has never been simpler or more dependable.
In late 2021, BGBF’s holding company, BCMG, was acquired by ICOA— a publicly-traded Nevada-based company operating in the fintech, blockchain, decentralized finance (DeFi), and cryptocurrency spaces. BGBF seamlessly lends itself to ICOA’s mission to bridge traditional finance with virtual assets.
To learn more, please head to BGBF’s websitehere.
SAFE HARBOR STATEMENT:
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. || If Fractionalized NFTs Were Regulated as Securities, How Would It Affect Investors?: da-kuk / Getty Images NFTs are continuing their explosive growth, and now, the Securities and Exchange Commission (SEC) is reportedly probing into their trade , calling for more information specifically on so-called fractionalized NFTs. See: You Can Now Buy NFTs at the ATM in NYC for the First Time Find: Global NFT Sales Hit Record $7 Billion in January Despite Crypto Slump This comes against the backdrop of President Joe Biden’s executive order on digital assets signed this week — an order which signaled intentions of regulating the crypto space, and which was largely lauded by the industry. Now, Bloomberg reports that a key legal question is whether digital assets — including NFTs — are securities, and therefore subject to the same rules as stocks. The outlet added that in recent months, the SEC’s enforcement unit has sent subpoenas demanding information about the token offerings, with a large focus on fractionalized NFTs. While the crypto market at large is struggling, the NFT space — nascent in comparison — is faring very well. In 2021, the global market value for NFTs hit $23 billion, per blockchain analytics firm DappRadar. Further, a sub-sector — fractional NFTs — experienced a rapid growth as well, as they had an overall market capitalization of around $212.6 million by Dec. 12, 2021, according to Bitcoin.com. But what are fractionalized NFTs? As the name suggests, a fractionalized NFT is a single NFT divided into pieces — a scenario which grants multiple people part-ownership of the collectible, Rebekah Keida, an NFT expert and head of marketing at cryptofinance firm XBTO , told GOBankingRates. From a technical perspective, these NFTs feature smart contracts that break up the asset’s token for any number of owners, she added. “Fractionalization is most typically implemented in high-value collectibles, expanding access to these items beyond the mega-wealthy. They are really meant to grow accessibility, democratization and participation in the NFT space,” Keida said. “In terms of the larger ecosystem, fractionalized NFTs also boost liquidity, given more people can participate in the market.” Story continues While Biden’s executive order on cryptos did not expressly address NFTs, many assume — as the government seeks more information related to crypto — they will look into NFTs as well. “Within the NFT ecosystem, I can confidently say that almost everyone is desperately waiting for fair regulation,” Keida said. “Fractionalization is expected to be a high-focus area, but most platforms that offer this service have always been aware that they would eventually have to adjust their operations to be compliant.” Discover: Salesforce Employees Protest Company’s NFT Plans Anthony Georgiades, co-founder of NFT infrastructure provider Pastel Network , echoed this sentiment. He told GOBankingRates that, as Biden’s executive order requests that government agencies assess the risks and benefits of digital assets (under the auspices of consumer protection), it’s reasonable to presume that NFTs — including any methods of fractionalization — will be scrutinized. It’s quite possible that a regulatory framework could be developed from the order’s research findings, he suggested. “However, I should note that the Biden administration appears open to implementing clear and constructive regulation that would help to foster the growth of a wide variety of digital assets, including fractionalized NFTs,” Georgiades explained. “Current regulation is stuck in the 1930s, and it’s pretty clear to both investors and even regulators that an upgrade is needed to properly cater to this emerging market so as to foster healthy and safe growth.” Keida added that the NFT industry is calling for regulation, as it will be critical for the implementation of new products and the development of roadmaps. A successful regulatory framework could provide clear instructions on how to expand projects without risk, she continued. She said that to paint the picture of how fractionalized NFTs may be considered securities, you can think of an NFT as a stock — instead of buying the whole stock, which may be extremely expensive, you can own a small share of it for a more affordable price. “Take the Amazon stock split, for example,” she said. In addition, she explained that some organizations may look to NFTs as a means to raise funds — these assets are technically legitimate for crowdfunding, much like securities. Learn: NFT Auction House Drops $1.25 Million on Metaverse Property Explore: Staking NFTs: A New Way to Make Money “If that is the case, regulation can protect purchasers from investing their money in collectibles tied to illegitimate organizations or scammers,” she concluded. More From GOBankingRates Social Security Payment Schedule 2022: What Dates To Watch Out For 22 Side Gigs That Can Make You Richer Than a Full-Time Job What To Do With Your Money During High Inflation 12 Expenses Successful People Don't Waste Time or Money On This article originally appeared on GOBankingRates.com : If Fractionalized NFTs Were Regulated as Securities, How Would It Affect Investors? || Accused shooter in deadly Central Kentucky home invasion faces new charges: The man accused of shooting 32-year-old Jordan Morgan at her familys Madison County mansion is facing new charges, according to court files. Shannon Gilday, 23, has now been charged with strangulation and assault on a corrections officer, according to court records. Gilday was charged Saturday. He has a preliminary hearing set for April 27 in his latest case. The incident is now the third active case against Gilday. Hes been charged with murder and other offenses for allegedly being the perpetrator in the deadly home invasion at former lawmaker C. Wesley Morgans home in Richmond. Gilday told investigators he broke into Morgans home because he wanted to secure the bunker which Morgan had built underneath his house. Hes also been charged with burglary in Kenton County for allegedly breaking into a Kentucky drivers licensing office and stealing equipment so he could make fake IDs. He allegedly told police he planned to use the fake IDs to help him obtain Bitcoin. Gilday was arrested over the home invasion on Feb. 28, according to police. He was charged in March with the burglary in Kenton County after he allegedly confessed to the crime, according to court records. Gilday has been held in the Madison County Detention Center since Feb. 28. Hes not allowed to post bond, according to court records. || Hack VC raises $200M fund to back early-stage crypto startups: The investors behind virtualhack.summit(), the world's largest blockchain programmer event, have launched a $200 million crypto seed fund under theHack VCumbrella, fund partner Alex Pack told TechCrunch in an interview.
Ed Roman, formerly a solo GP, invested in early-stage tech and crypto companies for over 10 years through Hack VC before partnering with Pack, who previously co-founded global crypto fundDragonfly Capitaland led Bain Capital Ventures' foray into digital assets. Pack and Roman have each invested in several early-stage crypto companies prior to launching this fund, including DeFi platforms Compound Finance and Terra, Pack said.
Hack VC wrapped up fundraising last fall and has been quite active since -- the fund has made "at least" 15 investments worth tens of millions of dollars to date, according to Pack. Its recent investments span a variety of areas within crypto -- from NFT emoji startupYat, to DeFi lending platformGoldfinch Finance, to metaverse gaming companySynCity.
Hack's thesis is centered around investing in what Pack describes as the "scaffolding" for a digital rights system for the whole internet, with a particular emphasis on emerging markets.
"The easiest use case of a digital-native property rights system is a digital-native store of value, like Bitcoin, but honestly, that's not very interesting to me, like building a digital gold or whatever. I think it has its place, but to me, building this property rights system that allows anyone around the world to participate in the open financial system is really big," Pack said.
The Hack VC team is comprised of around 10 people, about half of whom work within its dedicated in-house Crypto Lab, which Pack sees as a source of the venture firm's competitive advantage. Crypto networks are user-owned, so it is important for investors in crypto companies to be early users of new protocols, Pack said.
"We've got to stay on the cutting edge. We have to be more than capital. More than just a random trad [traditional] VC, we have to actually be using these protocols," Pack said.
Hack VC's Crypto Lab, headed by a former senior trader at quant hedge fund Jane Street, employs engineers and quantitative researchers to that end. Its team engages in staking to secure networks and is "one of the most active participants" in the DeFi ecosystem through market-making, governance support and liquidity provisioning on various protocols, Pack said.
Hack VC partner Alex Pack.Image Credits:Courtesy of Hack VC
The lab has also helped Hack source deals through analysis of on-chain data, he added.
Hack VC raised capital for the seed fund from LPs including Sequoia Capital, Fidelity and a16z's Marc Andreessen and Chris Dixon, alongside other institutional investors. A few of these LPs are active crypto investors themselves, including Sequoia, which last week raised a ~$500 million fund to invest in tokens. Firms like Sequoia and a16z investing in other crypto funds while also managing their own funds in the same sector is a relatively common phenomenon in the crypto world, although these firms are theoretically competing for the same sorts of deals.
Pack said this overlap is a relic of the early days when investing in crypto startups was "the opposite of competitive."
"Back in the day, we all backed each other's funds ... Now, it's getting a little bit more competitive. It used to be that we had to send each other deals, otherwise, our companies would go bankrupt. But now, we're still friends," Pack said.
Today, Hack VC has "great coinvestor relationships" with other venture firms in the space, partially due to Pack's involvement in providing seed funding to over a dozen crypto funds, including Multicoin, Polychain, Paradigm, Standard and Parafi, he said.
Still, he believes Hack VC brings unique value to the ecosystem in backing deep-tech, edgy, early-stage crypto companies. Hack VC does, however, consider co-investments with some of its LPs in other areas -- it recently invested in a metaverse startup alongside Twitch founder Justin Kan, leveraging Kan's deep knowledge of gaming, he added.
Pack attributes the support Hack VC earned from other crypto venture investors to its unique community of developers built through hack.summit.
"We spent years building one of the biggest blockchain programming communities in crypto, and that's very unusual. It's hard for a traditional VC firm to build [that] because of structural reasons," Pack said.
"This is why I left Bain Capital Ventures back in the day -- if you're a lean team ... you can't just add a whole massive community arm, you can't just add a 10-plus person engineering or quant trading team." || Why Your Bitcoin is Safe: Expert Takeaways Following Biden’s Executive Order on Digital Assets: Adam Schultz/AP/Shutterstock President Joe Biden’s executive order on digital assets , signed March 9, has been widely lauded in the crypto industry — many financial experts see this unified approach to crypto regulation as a long-awaited recognition and advancement of the space. See: 8 Best Cryptocurrencies To Invest In for 2022 Find: What Is the Next Big Cryptocurrency To Explode in 2022? For example, Cameron Winklevoss — president of Gemini — called “the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology” a “watershed moment” via a LinkedIn post. Winklevoss’ post continued to suggest that Biden’s EO paves the way for thoughtful national crypto regulation — regulation that will allow builders to build onshore and ensure that the U.S. remains a leader in crypto. Many experts noted that this was also a very welcomed and positive development for Bitcoin. Brock Pierce, Bitcoin Foundation chairman, told GOBankingRates that the executive order will make investors’ Bitcoin safer “because the government acknowledges that they need to take a thoughtful and coordinated approach to embracing cryptocurrency innovation and they will not, and likely can not, seize Bitcoin and other cryptocurrency assets.” “The executive order is very positive in that it showed an open-minded approach and a framework for government agencies to work with entrepreneurs, investors, and other stakeholders in the cryptocurrency space to embrace it,” Pierce added. Similar sentiment was also outlined in a NYDIG report, which said that the order “puts to bed” the notion that the U.S. government has any interest in banning Bitcoin and other digital assets. Greg Cipolaro, global head of research at NYDIG , told GOBankingRates that the order “demonstrates the White House’s willingness to bring thoughtful, coordinated regulation to the asset class, something the industry has long sought. The administration acknowledges the industry is here to stay and can be a source of technical innovation in the U.S. given the appropriate guardrails.” Story continues Another key takeaway from the EO is the emphasis on the potential benefits of a U.S. central bank digital currency (CBDC). CBDCs have been discussed previously by government officials, mostly in conjunction with the Federal Reserve Board’s release — in January — of its long-awaited discussion paper concerning the pros and cons of a CBDC. However, directives related to any CBDC have been vague so far, and the paper did not favor any policy outcome. Biden’s latest EO, however, indicates “placing urgency on research and development of a potential United States CBDC, should issuance be deemed in the national interest,” per a White House outline. Discover: Fed Releases Long-Awaited Digital Currency Paper: Analysts Discuss Privacy Concerns Ari Redbord — a former senior Treasury Department advisor and now head of legal and government affairs at blockchain intelligence company TRM Labs — told GOBankingRates that the language in the executive order around a CBDC is interesting for a number of reasons. “First, as opposed to the Fed’s January paper on CBDCs which poses pros and cons, the order calls for ‘urgency.’ This does not mean we are headed to a CBDC but it is the White House calling for movement,” Redbord said. “Perhaps the most extraordinary piece of the order is that it frames the CBDC discussion as a question of national security and national interest calling for the U.S. to lead in the digital space race in order to ensure that a global digital currency is consistent with democratic values. This was a clear call out to China and its digital Yuan project.” Indeed, the order states that a U.S. CBDC that is interoperable with CBDCs issued by other monetary authorities could facilitate faster and lower-cost cross-border payments and potentially boost economic growth, support the continued centrality of the United States within the international financial system, and help to protect the unique role that the dollar plays in global finance. Linda Jeng — visiting scholar on financial technology, adjunct professor of Law at Georgetown University Law Center’s Institute for International Economic Law, and senior lecturing fellow at Duke Law School — told GOBankingRates that “we are finally catching up with other G20 countries in developing a national digital assets strategy.” Learn: How To Buy Bitcoin: 4 Simple Steps Explore: The Price of Bitcoin Over the Years: What Investors Need To Know “I hope this is a first step toward a broader national data strategy that contemplates a privacy framework of consumer data rights when we use digital assets and CBDCs ,” she said. More From GOBankingRates Social Security Schedule: When First COLA Checks Will Arrive in March 2022 15 Worst States To Live on Just a Social Security Check How to Easily Add $500 to Your Wallet This Month Does McDonald's Accept EBT SNAP/Food Stamps as Payment? This article originally appeared on GOBankingRates.com : Why Your Bitcoin is Safe: Expert Takeaways Following Biden’s Executive Order on Digital Assets || Cardano Is the Pick of the Crypto Industry at This Time: • Cardano(ADA-USD) is picking up momentum after a prolonged bearish run
• A leading position inGrayscale’snew fund is a massive vote of confidence
• Incredible outlook ahead, with the launch of new updates
Source: Shutterstock
The past 30 days have been incredible forCardano(ADA-USD). After a prolonged bearish run, the proof-of-stake crypto saw a 40% gain in its value in the past month. ADA-USD has been growing on the back of multiple growth drivers, adding millions to its market cap. Moreover, it has one of the most ambitious long-term expansion plans, further increasing its burgeoning utility.
In general, the crypto market has been trading in the green, which finally points to a reversal in fortunes for investors. Analysts believe thatBitcoin(BTC-USD) could be on the brink of a massive breakout, as it looks to test the $45,000 mark. Since mid-January, the industry stalwart has seen strong resistance around the $45,000 mark. This all seems a wash after today’s adjustment to the crypto market, shedding some of its gains, 0verall the market is still up.
Hence, the market seems more conducive for some promising digital assets to kickstart their bull runs. Cardano stands out in a sea of cryptos with one of the strongest set of use-cases and a lofty outlook that is second to none.
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A couple of catalysts have pushed ADA’s price of late. The first is receiving the largest percentage holding in Grayscale’snewly launched smart contract fund. It enjoys a 24% weighting in the fund, showing its importance to institutional investors. One of the main reasons cryptocurrencies shot back into the spotlight during the pandemic was the increasing interest from institutional investors. The vote of confidence from some of the biggest investors has benefitted Cardano and its peers immensely. Moreover, Cardano rose 10% in value following its inclusion in the fund.
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Furthermore,top crypto exchangeCoinbase(NASDAQ:COIN) recently announced it would allow staking on its platform. Cardano will be among the first blockchains which will be part of the new offering. The current return on holding for ADA-USD is at a healthy 3.75%. Moreover, users will receive their rewards once the initial holding period is complete.
The 3.75% yield is a handsome return for most investors in terms of capital appreciation. The added staking features on Coinbase will only boost the network’s long-term value for investors.
One of the most encouraging aspects of Cardano is its ability to evolve and separate itself from the pack continually. It boasts an amazing track record of successful updates, and its developers have set new goals for them to refine the platform. Their phased development strategy has been highly successful as it plans to take things up a few notches in the coming years.
Cardano’s upcoming phase will focus on scalability after focusing on speed and launching smart contracts on its platform.The ‘Basho’ phasewill introduce technologies such as Hydra, which could take its throughput to millions of transactions per second (TPS). Hydra technology uses off-chain ledgers to prevent network bottlenecks. If the team can successfully implement the technology, Cardano could giveVisa(NYSE:V) a run for its money.
However, the astronomical target of one million TPS seems far-fetched at best. Moreover, developers have also stressed that the target is more aspirational and scalability depends on demand. Nevertheless, the update will surely increase Cardano’sthroughput from 250 TPSand might even eclipse Visa’s theoretical capacity of around 65,000 TPS. In achieving mainstream adoption, the crypto has to bump its transaction speeds significantly in the coming years.
Cardano has been on the move for the past couple of months. With multiple positive developments, crypto is off to a great start. As we progress further into the year, it could start picking up at an exceptional pace with successful dapp launches and new updates.
The crypto market remains volatile, though, and no digital asset, including Cardano, can flip the script if the industry bellwethers falter. However, with a laundry list of use-cases and an enticing outlook ahead, Cardano remains the pick of the market at this time. As always, it’s best to invest what you can lose in the market and rely on a dollar-cost averaging strategy to keep the risk in check.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
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The postCardano Is the Pick of the Crypto Industry at This Timeappeared first onInvestorPlace. || June Gold Trapped Inside $1897.70 $1958.70 RT Zone: Gold futures are trading lower for a second session on Tuesday, pressured by higher U.S. Treasury yields and a firmer U.S. Dollar. Additionally, U.S. stocks continued to rise, dampening demand for the so-called safe-haven asset. Another catalyst weighing on gold is the start of Russia-Ukraine peace talks. Despite the weakness, losses are being limited by worries over inflation and a predictions of a possible U.S. recession. At 06:34 GMT, June Comex gold futures are trading $1926.90, down $17.80 or -0.92%. On Tuesday, the SPDR Gold Shares ETF (GLD) settled at $179.08, down $3.30 or -1.81%. In other news, benchmark 10-year bond yields hit their highest level since April 2019 on the day, buoyed by bets of aggressive interest rate hikes by the Federal Reserve to fight soaring inflation . Although gold is considered an inflation hedge, rising U.S. interest rates increase the opportunity cost of holding non-yielding bullion. Golds safe-haven appeal was also pressured by hopes of progress in the first face-to-face peace talks between Ukraine and Russia in more than two weeks. Daily June Comex Gold Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart, however, the price action suggests momentum may be getting ready to shift to the downside. A trade through $1900.40 will change the main trend to down. A move through $2082.00 will signal a resumption of the uptrend. The minor trend is also up. This is controlling the momentum. A trade through $1972.50 will strengthen the momentum. A trade through $1915.50 will change the minor trend to down. The main range is the contract range at $2122.70 to $1693.40. The market is currently trading inside its retracement zone at $1908.10 to $1958.70. The intermediate range is $1783.80 to $2082.00. Gold is also trading inside its retracement zone at $1932.90 to $1897.70. The short-term range is $2082.00 to $1900.40. Its retracement zone at $1991.20 to $2012.60 is the nearest upside target and potential resistance. Story continues Daily Swing Chart Technical Forecast The direction of the June Comex gold futures contract on Tuesday is likely to be determined by trader reaction to $1932.90. Bearish Scenario A sustained move under $1932.90 will indicate the presence of sellers. If this creates enough downside momentum then look for a test of the support cluster at $1908.10 to $1897.70. Inside this zone is the main bottom at $1900.40. A trade through $1900.40 will change the main trend to down. This could trigger a further break into the next main bottom at $1882.00. This is a potential trigger point for an acceleration to the downside. Bullish Scenario A sustained move over $1932.90 will signal the presence of buyers. If this move creates enough upside momentum then look for a surge into $1958.70. Overtaking $1958.70 will indicate the buying is getting stronger. This could lead to a test of $1972.50. Taking out this level could trigger a spike into $1991.20 to $2012.60. 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: Dubai School Is First in Gulf To Accept BTC and ETH for Tuition Fees EUs Crypto Regulation Would Be a Dire Breach of Privacy Gold Tries To Settle Below $1915 As Treasury Yields Test New Highs Expanded China Lockdown And Russia-Ukraine Prospects To Further Weigh On Oil Bitcoin (BTC) Trending, with $50,000 Within Reach WTI Oil: Main Trend Up, Momentum Down Creating Choppy Trade || Telos' Decentralization Rivals that of Bitcoin and Ethereum: Telos shows that decentralization is measured in more than just node count New York, New York --News Direct-- Telos Foundation Telos Blockchain (ticker: TLOS), the worlds most robust and decentralized ESG compliant layer 1 platform and home to the world's fastest, highest capacity EVM (tEVM), derives credible neutrality and decentralization from at least 42 equally distinct validating nodes compared to the much smaller number of major mining pools securing Bitcoin and Ethereum. After a thorough competitive analysis comparing Telos decentralization to the decentralization of many of the other top Layer 1 chains, the Foundation has confirmed its assumptions. Based on validator equality and crucial factors regarding architecture and finances, the team confirmed that Telos is indeed one of the leading chains regarding credible neutrality and decentralization. As mining pools lack equality, massive node counts become irrelevant: As depicted in the pie charts above, Telos, via its governance, has maintained an equitable distribution amongst all its active validators and Bitcoin and Ethereum have not. Instead, the mining pools of both Bitcoin and Ethereum have now become centralized. The hypothesis is that over the years the well-funded pools have overtaken the little ones. Despite the substantial number of nodes, to be a credibly neutral peer-to-peer network, the network must also sustain even splits in validator power / responsibilities. Without this equality, the insulating strengths of decentralized peer-to-peer networking becomes significantly degraded. A decentralized network made up of equitable validators adds a powerful layer of insulation against multiple scenarios. For example, a multi-government coalition could potentially implement disruptive regulations or restrictions on blockchain. If only a handful of validators / mining pools need to be targeted, it becomes much easier for those governments to impose their will and degrade the insulation that a peer-to-peer network is supposed to provide. In fact, an event far smaller than this could instantly interrupt some chains from operating as they intended. However, the problem is not just limited to government interference. It is also the potential of a coalition amongst the validator majority that threatens the decentralization and stability of a chain. Despite having many nodes, it appears that for Bitcoin it would take only ~5 large mining pools to form a majority, only ~4 for Ethereum and 22 for Telos (as depicted in the pie charts above). Aside from this significant (4x to 5x) difference, it is also worth noting that the community fairly votes the Telos validators into active slots vs Bitcoin / Ethereum in which the mining pools principles are anonymous and can simply buy their way into a majority position. Hence, the centralization and lack of credible neutrality that has now formed. Credible neutrality cannot exist in an environment in which control and influence is exerted by small groups of well-funded people. This move towards validator centralization also leads to neutrality questions that are impossible to answer. For example, are the validator majorities' ambitions in line with what is best for the chain or themselves? To put the potential gravity of this into perspective one needs to understand that the principal/s of a majority sized mining pool can easily be a crime syndicate, and no one would know about it due to the anonymity. In fact, all the major mining pools can hypothetically be owned by crime syndicates, and no one would ever know. In contrast to this, with chain-governed validator equality and ongoing fair community voting, these credibility and neutrality questions are simply non-existing issues. In fact, all these chain degrading scenarios are exactly what the Telos architecture and governance have insulated against. As a chains validator network becomes unequal in size; the more it will move towards centralization, the more its neutrality will become biased and the more these chain breakdown scenarios may become a reality. Story continues Insider allocation cost blockchains their credible neutrality: Being that Telos was a 100% bootstrap project (95% of the coins airdropped to the community, 5% were used as equal pay to the almost 150 contributors, no insider handouts, and no ICO), the team already knew that its insider allocation was at the same level as Bitcoins beginnings, zero. Telos is the only L1 chain besides Bitcoin to have ever reached this stage of maturity while still maintaining zero insider allocation. All the other L1 chains are believed to be centralized and unable to become credibly neutral public infrastructure due to their insider allocation (click here to see) . With this being noted, these chains will most likely never be utilized by governments as a legal tender and dApps depending on this infrastructure will never be 100% insulated by the full power of credible neutrality and decentralization. Telos Decentralization : Since its inception, the validators of the Telos Blockchain are both equally sized and regionally / globally diversified. Plus, no ungoverned wallet is known to hold more than 2% of the chain. From chain architecture to finances, decentralization and neutrality are of the highest priority for the chain. Over the last 4 years, Telos has grown into a truly utopian blockchain option for both private and public infrastructure. It is ludicrously fast, very inexpensive, extremely energy efficient, credibly neutral, non-congested, super easy to deploy on and the only chain that fully insulates the public from the front running / MEV that is plaguing Ethereum. Decentralization Highlights: Telos is the only third generation layer 1 blockchain to have never done an ICO [initial coin offering] and this non-action alone insulates the chain greatly regarding insider collusion and the SEC security law suits. Telos, at its inception, electively chose to stay a bootstrap project and rise in the same fashion as Bitcoin. All other third generation layer 1 chains (including Ethereum) have done ICOs and will more than likely be forced to file with the SEC as securities. The former and current SEC Chairman have both expressed that every ICO [initial coin offering] they have seen are indeed securities, that they have jurisdiction, and that federal securities laws apply. The validating architecture of other networks might be structured via peer-to-peer architecture, but they are not credibly decentralized due to the distribution of monetary / voting / validating power. Again, insider allocation is non-existent and as you can see above in the pie charts depicting validator decentralization, Telos Validators are proportionally equal. Telos governance has the fairest voting system in existence, called Telos Decide. It is tamper-proof and secured by the Tlos coins that investors own. A coin holder can vote on behalf of the coins they hold and rely on outcomes that do not require any further human involvement. No other Layer 1 offers this level of automated community fairness. Especially because the Telos governance documents may be dynamically amended by the votes of the coin holders in a process that is entirely controlled by on-chain smart contracts. Governments, investors, dApp creators, and end users need not forget that the fundamental features which bring the most value to blockchain are credible neutrality and decentralization. With credible neutrality and decentralization the following attributes are all significantly enhanced: Utility Redundancy Security / Trust Individual Financial Independence dApp Sovereignty Fair Voting Legal Tender The actions and inactions of Telos are driven by the belief that the public and private sectors require credibly neutral blockchain infrastructure in a third-generation capable format. Credible neutrality, ludicrously fast speeds, energy efficiency, and super low-cost transactions make Telos the perfect crypto currency for the global internet and for the people. About Telos Live since 2018, Telos Blockchain (ticker: Tlos) is a third-generation smart contract platform that offers compatibility with Solidity, Vyper and Native C++ smart contracts. Telos provides full EVM/Solidity support with fixed low-cost gas fees and no front running. Uniquely, Telos also offers a path to fee-less transactions via its robust native C++ smart contract support. Utilizing less than 0.000002 kWh per transaction, the chain can sustainably support hundreds of millions of transactions per day, produce blocks in 0.5 second intervals on a first-in-first-out basis (eliminating front running on the network) and securely validate transactions via a credibly neutral and globally decentralized block producer network. The Telos Blockchain has the throughput needed to facilitate and scale the thriving Metaverse / Web 3.0 better than any other blockchain. Its performance is unrivaled in the industry and was purpose-built to offer speed, scalability, cost-effectiveness, credible decentralization, and end-user fairness. Telos, harnesses its power by utilizing tight C++ on the frontend and a custom WASM runtime environment on the backend. About The Foundation The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications. Contact Details The Team [email protected] Company Website https://www.telos.net/ View source version on newsdirect.com: https://newsdirect.com/news/telos-decentralization-rivals-that-of-bitcoin-and-ethereum-472149994 || Crude Oil Breaks Major Resistance: WTI Crude Oil The West Texas Intermediate Crude Oil market has shown itself to be very resilient during the course of the trading session, as we have sliced through the $100 level again. At this point, it looks like the market is ready to go much higher, and that pullbacks will continue to offer opportunities to pick up value. In other words, this is a market that I think is going much higher, but you obviously do not want to chase a market when it is up $7. That being said, I believe that the $95 level would be an excellent area to pick up value, but it is also possible that the $100 level will end up being as low as we can go for any significant amount of time. At this point, it looks as if we are going to go racing towards the $105 level. Crude Oil Video 02.03.22 Brent Brent markets of course have done the same thing as we are above $104 at the time of writing. This is obviously a very bullish market, but if you are not involved in it yet, you simply must wait for some type of pullback in order to offer an of value to go higher long. The $100 level would be an excellent buying opportunity if we see any type of support show itself. I would anticipate that being the case unless of course something drastically changes. A peace deal between Russia and Ukraine could cause a short-term selling situation, but at that point, I will simply be waiting underneath in order to take advantage of the value that would represent for the overall market. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Prices Rally in Sympathy with Oil Why Chevron Stock Is Trading At All-Time Highs Today Polkadot Founder Donates $5.6M As Ukraine Begins Accepting DOT Natural Gas Markets Continue Topping Pattern Can Morgan Stanley Be the Largest Bitcoin Owning Institution in 2022? Central Bank of Russia Launches SWIFT Replacement With 399 Users || US stocks fall in volatile session as earnings season heats up and bond sell-off continues: Spencer Platt/Getty US stocks finished down Monday after a volatile session as investors look ahead to a big week of earnings reports. The bond sell-off continued, with the 10-year Treasury yield rising more than 5 basis points. Meanwhile, the World Bank slashed its global economic growth forecast due to Russia's invasion of Ukraine. US stocks traded up and down all day before finishing lower on Monday as the bond sell-off continued while investors look ahead to a big week of earnings reports. Netflix headlines Tuesday's earnings, and Tesla follows up on Wednesday. Other earnings on deck for this week include IBM, Procter & Gamble, Johnson & Johnson, and Verizon. Early Monday, Bank of America beat first-quarter expectations, driven by consumer loan growth and market volatility . The 10-year yield jumped to a fresh three-year high, moving above 2.87% at one point, before paring gains to climb 5.2 basis points to 2.86%. Here's where US indexes stood as the market closed at 4:00 p.m. ET on Monday: S&P 500 : 4,391.69, down 0.02% Dow Jones Industrial Average : 34,411.69, down 0.11% Nasdaq Composite : 13,332.36, down 0.14% Earnings season is revealing that Wall Street is turning bearish while Main Street gets bullish amid strong consumer demand, according to analysts at Bank of America. Morgan Stanley, for its part, warned that inflation is no longer a net positive for earnings growth. Now, cost pressures are starting to hurt margins . Top economist Mohamed El-Erian said Monday that gold and crypto prices would jump if the Federal Reserve were to raise its inflation target to 3%, as it would give the central bank some more breathing room. Meanwhile, the World Bank slashed its global growth forecast due to Russia's invasion of Ukraine. The lender said it would mobilize a relief package bigger than the one it delivered in response to the COVID-19 pandemic. Oil climbed, with West Texas Intermediate up 0.75% to $107.75 a barrel. Brent crude , the international benchmark, rose 1.04% to $112.86 a barrel. Gold edged up 0.40% to $1,982.80 per ounce. Bitcoin rose 0.55% to $40.473.79. Read the original article on Business Insider
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 38117.46, 39241.12, 39773.83, 38609.82, 37714.88, 38469.09, 38529.33, 37750.45, 39698.37, 36575.14
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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 2020-10-01]
BTC Price: 10619.45, BTC RSI: 46.60
Gold Price: 1908.40, Gold RSI: 48.82
Oil Price: 38.72, Oil RSI: 43.04
[Random Sample of News (last 60 days)]
Square's (SQ) Q2 Earnings and Revenues Surpass Estimates: Square, Inc. SQ reported second-quarter 2020 adjusted earnings of 18 cents per share, against the Zacks Consensus Estimate of a loss of 8 cents per share. Notably, the company had reported earnings of 21 cents in the year-ago quarter and aloss of 2 cents in the prior quarter. Net revenues of $1.92 billion surpassed the Zacks Consensus Estimate of $1.14 billion.Further, the figure improved 63.8% from the year-ago quarter and 39.3% sequentially. The top line was driven by strong momentum across Cash App ecosystem that contributed $1.2 billion to net revenues during the reported quarter, up 361% year over year. Cash App was used by above 30 million monthly transacting active customers in June 2020. Further, disbursements of the CARES Act stimulus programs and unemployment benefits aided growth in the Cash App engagement. Moreover, strengthening momentum across Bitcoin and strong adoption of Cash Card benefited the results. Notably, Cash Card was used by 7 million customers in June 2020, which doubled compared to June 2019. Additionally, accelerating subscription revenues remained a major positive. However, weak momentum across seller ecosystem owing to coronavirus-led shelter-in-place restrictions remained a major negative, which impacted the companys gross payments volume (GPV) negatively in the second quarter. Revenues from seller ecosystem were $$723 million, down 17% year over year. Square has refrained from providing guidance for the ongoing quarter and the full year 2020. This can be attributed to the uncertainties related to the COVID-19 pandemic. Nevertheless, the companys strengthening momentum in online channels and growing card-not-present GPV are expected to act as tailwinds in the upcoming quarters. Further, strong acquisition of net-new transacting active Cash App customers is likely to continue driving the companys top line. We note that Square has gained 144.4% on a year-to-date basis, outperforming the industrys rally of 65.9%. Story continues Gross Payment Volume GPV in the second quarter amounted to $22.8 billion beating the Zacks Consensus Estimate of $19.2 billion. However, the figure declined 15% year over year, which can primarily be attributed to sluggishness in the seller ecosystem during the reported quarter owing to coronavirus pandemic. Slowdown in GPV across the companys largest U.S. metropolitan areas was a concern. Further, decreasing GPV for the sellers across beauty, personal care, and food and drink verticals among others acted as a headwind during the reported quarter. Nevertheless, gradual reopening of the economies and relaxation of COVID-19 restrictions remained positives as it led to quarter-over-quarter improvement in GPV. Growing proliferation of online sales was also a positive backed by which GPV from online channels were up 50% year over year. Further, it contributed more than 25% of the companys seller GPV. Additionally, the companys robust product portfolio and comprehensive ecosystem, which aidsit in attracting new sellers to its platform while retaining the existing ones, sustained momentum across larger sellers who contributed 52% to the total GPV. Notably, 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. Moreover, year-over-year growth of 16% in the card-not-present GPV in the second quarter was a tailwind. Robust online products, such as Square Online Store, Invoices, Virtual Terminal and eCommerce API contributed to the performance. Notably, card-present GPV declined 38% from the year-ago quarter. Square, Inc. Price, Consensus and EPS Surprise Top-Line Details Transaction (35.5% of net revenues): The company generated transaction revenues of $682.6 million, down 12% year over year. This was primarily attributed to sluggish GPV from in the second quarter. Nevertheless, growing proliferation of contactless transactions was a tailwind. Also, strong momentum across business accounts using Cash App, which generated $54 million of transaction revenues, up 216% year over, remained a positive. Subscription and services (18% of revenues): The company generated $346.3million revenues from this category, surging 38% from the year-ago quarter. This improvement can be attributed to strong performance by Cash App, which contributed $271 million to the categorys top line. The figure was up 129% from the year-ago quarter. This was driven by robust Cash Card spending and growing Instant Deposit volume in the reported quarter. Additionally, strong performance by Square Capital on the back of PPP loans remained positive. Notably, it facilitated more than 80,000 PPP loans worth $873 million. However, weak seller ecosystem, which generated $75 million of subscription and services revenues, down 16% year over year, remained a concern. Hardware (1% of revenues): Square generated revenues of $19.3 million from this business, down13% year over year. This was due to declining unit sales of hardware devices. Nevertheless, the company witnessed improved sales of contactless devices like Square Register and Square Terminal in the reported quarter. Bitcoin (45.5% of revenues): The company generated revenues of $875.5 million from this category, up a whopping 600% on a year-over-year basis. Square continued to benefit in the bitcoin space driven by growing adoption of Cash App.Further, the company witnessed strong customer demand and growth in bitcoin actives in the second quarter. Operating Details Per management, gross profit grew 28.1% from the year-ago quarter to $596.8 million. As a percentage of net revenues, the figure came in 31%, contracting 870 basis points (bps) year over year. While Transaction, Subscription and services and Bitcoin generated profit, Hardware category reported loss during the reported quarter. Further, the coronavirus pandemic remained a woe Adjusted EBITDA as a percentage of net revenues was 5.1%, contracting 380 bps from the year-ago quarter due to slowdown in seller revenues. Operating expenses came in $619.8 million, surging 32.8% from prior-year quarter. Product development expenses were $206.8 million, up 19% year over year, primarily owing to growing engineering, data science and design personnel costs. General and administrative expenses were $136.4 million, up 36% from prior-year quarter. This was primarily due to finance, legal and support personnel costs. Further, sales and marketing costs were $238.1 million, up 52% year over year, due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances. Balance Sheet As of Jun 30, 2020, cash and cash equivalents balance was $1.97 billion, up from $1.96 billion as of Mar 31, 2020. Short-term investments were $714.3 million in the reported quarter, up from $521.8 million in the previous quarter. Long-term debt was $1.77 billion, increasing from $1.76 billion in previous quarter. Zacks Rank & Key Picks Square currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Dropbox DBX and Analog Devices ADI. While Asure Software sports a Zacks Rank #1 (Strong Buy), Dropbox and Analog Devices carry a Zacks Rank #2 (Buy). You can see the complete list of todays Zacks #1 Rank stocks here. Long-term earnings growth rate of Dropbox, Asure Software, and Analog Devices is pegged at 16.83%, 14% and 13.33%, respectively. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021. Click here for the 6 trades >> Click to get this free report Analog Devices, Inc. (ADI) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Square, Inc. (SQ) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Startup Aleo Wants to Help You Use the Internet Without Sacrificing Data Privacy: Privacy tech company Aleo has launched a data privacy-oriented blockchain and developer kit to make writing zero-knowledge proofs in web applications easy and scalable.
The startup is releasing its first round of software tools to let developers write private applications for the web using a new programming language called Leo, as well as integrate these tools into pre-existing browsers’ functions.
“I think it’s become very clear that the internet is broken,” said Aleo co-founder Howard Wu on a phone call. “As users of the internet, we give up our personal data in exchange for services from providers. This model is really outdated. It’s an antiquated one. For us, the goal is to provide a new type of model where this incentive can be aligned for both sides.”
Related:This Crypto Startup Takes Bitcoin Advocacy to a Whole New Level
Aleo leverages zero-knowledge proofs (ZKPs), a cryptographic technique that allows two parties on the internet, such as an app and a user, to verify information with each other without sharing the underlying data related to this information.
If you think about it in the context of logging into a website for example, it would verify who you are without sharing info such as your password, geolocation data or other information that can be used to suss out additional details about yourself that you aren’t aware you might be giving up.
See also:Zcash’s Halo Breakthrough Is a Big Deal – Not Just For Cryptocurrencies
“The idea is that we can provide user interface (UI) components and frameworks that look just like traditional web applications,” said Wu. “But when you click on something, it does some magic under the hood, and makes executing ZKPs much easier, happening within your browser. We will provide a UI toolkit, a UI framework that lets web developers build it into existing web applications.”
Related:Fireblocks, X-Margin Partner to Offer Institutions Cross Margin Trading in Crypto Derivatives
Aleo’s initial release is made up of four different components.
There is theAleo Studio, the first integrated development environment (IDE) for writing privacy-focused, zero-knowledge applications. An IDE is a holistic environment for developers to write computer programs.
TheAleo Package Manageris focused on letting developers manage and store data packages. Integrated with Aleo Studio, the package manager makes it easier for developers to organize and share their work.
SnarkOS is Aleo’s decentralized operating system for private web applications and the first implementation of the Aleo protocol.
“It runs a blockchain and it supports all sorts of applications,” said Wu. “So it’s very similar to ones that people know and love on Ethereum. The idea for us is to use snarkOS as the foundation or the backbone of this entire system. So snarkOS is meant to checkpoint, verify and store data in state.”
See also:Privacy Startup Nym Will Pay You in Bitcoin to Run Its Mixnet
As users interact with the web, they’re making transactions such as payments, inputting their data, or interacting with games through applications, all of which involve state transitions, or the ways that data moves throughout the internet. Private app integrations with Aleo can address all of these phases, meaning the data privacy functionality isn’t negated at any one point.
The last part of Aleo’s developer kit is the “Aleo Testnet I,” a testnet on snarkOS that allows developers to write and deploy applications.
Developers must build programs on the Aleo blockchain to use the kit, as Aleo is the foundation for everything else developers want to build and integrate with. The focus is on establishing a strong and private core, so that users are able to choose whether they want their data to be public or not.
The whole goal, however, is for developers to integrate existing apps with Aleo. Existing applications will be able to integrate on Aleo using normal web paradigms.
“Our goal isn’t to disrupt the web, it’s to integrate with it.” said Wu. “Aleo will host infrastructure and services to make it easy for web applications to use Aleo.”
The company has also created a new programming language called “Leo.” Wu explained that while Leo looks and feels like JavaScript, under the hood, it is uniquely able to abstract low-level cryptographic concepts, so developers can build private applications without a degree in cryptography.
“We built Leo to make it easy to write private applications,” said Wu. “For crypto-natives, Leo allows developers to build applications like dark pools, anonymous mixers, private marketplaces – you name it.”
He added, for web developers, Leo provides a framework that allows developers to build secure components for applications like password-less login, instant checkouts and more.
According to arecent reportfrom AI-powered fraud detection company Sift, if a company inadvertently exposes a customer’s data, whether it’s the companies fault or not, 56% of survey respondents said they’d stop using the site altogether.
“The idea here is to provide an ecosystem that is robust enough to give you alternative options and I think that’s a model that’s far more far more cohesive for both companies and consumers,” said Wu.
Right now, according to Wu, Aleo’s goal is to plant a seed and get as much feedback as they can before they launch their mainnet.
“Many of the common L1 foundations have tried Aleo Studio and Leo in private,” said Wu. “We have been using the opportunity to architect requirements to integrate. After all, many blockchains would like a shielded pool for applications on their chain.”
See also:These Illicit SIM Cards Are Making Hacks Like Twitter’s Easier
• Startup Aleo Wants to Help You Use the Internet Without Sacrificing Data Privacy
• Startup Aleo Wants to Help You Use the Internet Without Sacrificing Data Privacy || Pandemic Will Speed Bitcoin Adoption, Says DBS Bank Economist: “A pandemic-led acceleration of adoption.” That’s how Singapore-based DBS Bank describes the current state of digital assets in its quarterly report on cryptocurrencies published in August. It’s interesting to hear such an observation from a respected multinational bank and its chief economist, Taimur Baig. However, there have lately been murmurings about certain large financial institutions – particularly in places like Singapore, Switzerland and Germany – fielding a new wave of demand for crypto, filtering through from smaller private banks and wealthy clients. Related: Binance’s New Platform Will Connect CeFi and DeFi With $100M Fund On the subject of cryptocurrencies like bitcoin (BTC) , Baig identified two distinct phases of demand: pre-pandemic and post-pandemic. “Pre-pandemic demand was largely speculative. People saw bitcoin had a spectacular run and wanted to be part of that game, so what’s wrong with putting in 1% of assets under management [into BTC],” Baig said in an interview. “But I think post-pandemic is beyond speculative. It’s more about, ‘This thing has fixed circulation, it will not be debased.’ People are worried about dollar outflow and wondering if they should hold crypto in addition to gold as a safe-haven currency.” Read more: Bitcoin’s Correlation With Gold Hits Record High DBS isn’t the only bank to notice this trend. Singapore-based digital asset bank Sygnum, which holds a banking license from the Swiss Financial Market Supervisory Authority, echoed this view. Related: First Mover: DeFi 'Vampire' SushiSwap Sucks $800M from Uniswap; BitMEX Basis Lags “Since the outbreak of COVID-19 there has been increased interest from family offices and private individuals who see digital assets as an alternative and a way to protect against a worrying inflation risk,” said Martin Burgherr, co-head of clients at Sygnum Bank. “Now that banks are awakening from the lockdown, we have had a significant uptick in national and international banks asking us to help in a B2B setup, to enable their clients to invest in digital assets.” Digital gold Baig – who has previously held senior economist roles at the Monetary Authority of Singapore, Deutsche Bank and the International Monetary Fund – likes to zoom out and take a macro view of digital currencies and the potential play of central bank digital currencies (CBDC). There has been a steady rise in gold, while fixed-income yields are heading towards zero, Baig said, and such conditions have also caused “bitcoin to come back quite convincingly.” Story continues Read more: PTJ on BTC: Bitcoin Is Now the Macro Big Bet It’s tempting to look at bitcoin through the lens of foreign exchange (FX), as yet another currency with an exchange rate against the U.S. dollar. But this is mistaken, Baig said, since a regular sovereign currency has accepted economic means of evaluation that determine productivity and long-term growth. “You can’t value cryptocurrencies like that,” Baig said. “While they can have this credibility with a system-based circulation, they’re still not attached to a country’s fortune. So, of course, they will not go and up and down the way the U.S. economy goes up and down. From that perspective, it’s more akin to gold than an FX in my view.” Dollar pegging For countries experiencing a currency crisis or episode of hyperinflation, pegging to the U.S. dollar may bring some short-term credibility, but it doesn’t work out well for a lot of currencies, Baig noted, adding: “If you look at Venezuela or even Lebanon, which is in the middle of a massive financial crisis, could you, at some point going forward, conceive that instead of linking your currency to the U.S. dollar, you link it to a cryptocurrency?” Provided that transactions can be viewed on the blockchain there are possibilities, said Baig. “As long as it’s tied to a limited-circulation currency, I see some similarities between that sort of anchoring versus anchoring against the US. dollar,” he said. Digitizing the redback The topic of CBDCs is also highly politicized, particularly between the U.S. and China. There are two dimensions to think about when it comes to China and its CBDC efforts at “digitizing the redback,” said Baig. Firstly, a digital renminbi (e-RMB) is a way that China’s central bank, the People’s Bank of China (PBoC), can exercise some control over the country’s sprawling fintech ecosystem. “There’s so much going on at the Alipay, Tencent level,” Baig said. “Deposits are being made by those fintechs, they are extending credit, so it doesn’t really matter what PBoC does with respect to interest rates. It’s like a whole parallel universe.” Read more: China’s Digital Currency May Come With Hardware Wallets as Well The other dimension concerns the potential for an e-RMB to become a way for certain countries to bypass the U.S. dollar settlement mechanism, which makes them “somehow answerable to the Southern District [Court] in New York” or the Securities and Exchange Commission,” said Baig. “The U.S. dollar has been used repeatedly as a weapon against Iran against other countries and also against China,” he said. “I think now with U.S.-China tensions so high the case for e-RMB becomes even more compelling.” Read the full report: Related Stories Pandemic Will Speed Bitcoin Adoption, Says DBS Bank Economist Pandemic Will Speed Bitcoin Adoption, Says DBS Bank Economist View comments || Barstool Sports’ Dave Portnoy buys bitcoin after Winklevoss pitch: Dave Portnoy, the pugnacious founder of Barstool Sports and, these days, a celebrity day trader, has bought some bitcoin with the help of Cameron and Tyler Winklevoss. In a video appearance published Thursday, the twin brothers and founders of crypto exchange Gemini walked Portnoy through the basics of bitcoin and coached him on purchasing some $200,000 of the cryptocurrency. Portnoy also purchased $50,000 of Chainlink’s LINK token. In a separate tweet, Portnoy claimed to be "7 figures deep now in this stuff." I Am Now the Baron of Bitcoin Featuring The Winklevoss Twins @tylerwinklevoss @winklevoss pic.twitter.com/0cGxEGZCs5 — Dave Portnoy (@stoolpresidente) August 13, 2020 Portnoy founded Barstool Sports, which covers sports and culture, in 2003. Barstool publishes content on its site as well as across social media. Since the start of the coronavirus pandemic-related quarantines, Portnoy has gained notoriety as a day trader, streaming his activities daily under the Davey Day Trader moniker. In that time, Portnoy attracted both a dedicated audience of traders chasing riches — fitting squarely into a culture driven by fast-moving memes and a frenzied population of Robinhood speculators — as well as critics who've blasted his approach to covering stocks. As of the time of writing, Portnoy has amassed a Twitter following of 1.7 million. Earlier this month, in a separate video, Portnoy said that he had previously bought $20,000 in bitcoin, but lamented the complexities in purchasing and holding digital assets compared to buying stocks. As the video came to a close, Portnoy was asked by the person shooting the video about the explanations offered by the Winklevoss twins. Story continues "I literally have no idea what bitcoin is, do you?" Portnoy replied. © 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. || Fed Chair Powell’s Flexible Inflation Views Were Already Priced In: Federal Reserve Chair Jerome Powell did not raise many eyebrows Thursday morning when he announced the U.S. central bank would encourage some periods of inflation above its 2% target in certain circumstances to boost the long-term economy. In remarks before a virtual version of the annual Jackson Hole symposium, Powell said the Fed was looking to bolster the labor market, though this is largely an issue Congress would have to deal with amid the ongoing COVID-19 pandemic. The current recession differs from most previous financial downturns because of its underlying cause; namely, lockdowns rather than the after-effects of an overheated economy, he said. “If inflation runs below 2% following economic downturns but never moves above 2% even when the economy is strong, then, over time, inflation will average less than 2%,” he said. “Households and businesses will come to expect this result, meaning that inflation expectations would tend to move below our inflation goal and pull realized inflation down.” Related: Someone Just Lost $16M in Bitcoin By Using a Malicious Install of the Electrum Wallet Powell added: “To prevent this outcome and the adverse dynamics that could ensue, our new statement indicates that we will seek to achieve inflation that averages 2% over time. Therefore, following periods when inflation has been running below 2%, appropriate monetary policy will likely aim to achieve inflation moderately above 2% for some time.” Thursday’s new approach to monetary policy comes after a year-long review of the Fed’s previous strategy, Powell said. Read more: Commentary: Fed Chair Jerome Powell Details Inflation Target Changes Related: Ben Emons, managing director at macro research firm Medley Global Advisors, told CoinDesk the speech and the Fed’s new framework “basically matched market expectations.” “For some time now the discussion has been moving to a more flexible framework targeting inflation,” he said. Story continues Market stability Both traditional financial instruments and hedge assets ended Thursday’s trading sessions generally stable, despite some price fluctuation earlier. While bitcoin saw a price spike during the first half of Powell’s comments, it returned to the low $11,000s by its conclusion, and was trading around $11,300 as of press time, down less than 2% over the past 24 hours. Bitcoin’s price rose to the mid-$11,000s on Friday, up just slightly over a 24-hour period. Traditional financial markets also experienced some slight volatility, but closed their trading sessions less than 1% away from their starting points. Employment concerns Powell noted that Congress would have to target the unemployment rate, Emons said. “So the message here today is really that if the economy recovers we’re going to see more inflation, and if employment improves we’re going to allow this to continue as long as possible,” he said. “The Fed’s not going to lean against it.” During his speech, Powell said the labor market would be “strongly influenced by non-monetary factors” such as the path of the coronavirus and any lasting changes in the business landscape. For crypto traders, the big question will be how inflation impacts upon the prices of cryptocurrencies such as bitcoin and ether . Should the dollar weaken, the price of these cryptocurrencies should climb. However, Powell also addressed the trust factor when it comes to major centralized institutions like central banks. “Public faith in large institutions around the world is under pressure,” he said. “I think institutions like the Fed have to aggressively seek transparency and accountability to preserve our democratic legitimacy.” Related Stories Fed Chair Powell’s Flexible Inflation Views Were Already Priced In Fed Chair Powell’s Flexible Inflation Views Were Already Priced In || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 2, 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 tech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. [email protected]
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/604545/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Grayscale launches ad campaign, telling investors to move to digital currencies: Crypto asset manager Grayscale has launched a national advertising campaign, telling investors to move to digital currencies like bitcoin (BTC) and ether (ETH) via its products. The 30-second commercial shows how money has evolved over thousands of years, from shells and metals to fiat money, and that now "is the time for digital currency." Notably, the ad does not mention bitcoin at all, like Grayscale's previous "DropGold" campaign . A Grayscale spokesperson told The Block that the new ad is "focused on digital currencies and Grayscale brand not just one single digital currency like Bitcoin." The ad has first aired on CNBC, with MSNBC, FOX, and FOX Business set to follow next, according to Grayscale founder and CEO Barry Silbert. Grayscale provides crypto investment products, including Bitcoin and Ethereum Trusts, which help investors to take exposure in these assets without directly buying or storing them. Grayscale reported record inflows last month, raising $905.8 million across its suite of products in Q2, nearly doubling the amount from the previous quarter. Grayscale now manages $5.6 billion worth of total assets. © 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. || How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann: A conversation with a VC about changes in fintech, crypto and how public market trends shape the startup scene.
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.
• Everyone turns bullish as S&P 500 nears all-time highs
• Emerging market currencies are floundering
• Bitcoinholding sentiment highest in two years
Related:
See also:What a Professional Trader Thinks of the Fed, Robinhood and Real Estate, Feat. Tony Greer
Chris was previously the founder of Startup Digest, building it to 1 million subscriptions long before email newsletters were a thing. He spent four years building the community program at Greylock before launching his own venture firm.
In this conversation, Chris and NLW discuss:
• The relationship between monetary policy and startup finance
• What changes in startup financing have followed COVID-19
• What the emerging fintech stack looks like, outside of crypto
Find our guest online:Website:Race CapitalTwitter:@mccannatron
Related:Bitcoin News Roundup for Aug. 19, 2020
See also:How the Purpose of Public Markets Has Changed
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• How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann
• How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann || Two Reasons Crypto’s Bull Market Is Coming: Anil Lulla is the co-founder and COO of Delphi Digital , a research firm dedicated to advancing the development of the crypto market. In the past few months at least four crypto hedge funds have shuttered . Yet, there’s never been a better time for institutions to get involved in this sector. Despite an unprecedented global pandemic wreaking havoc on just about every major economy on the planet, investors have made quite a lot of money in recent months in both traditional and crypto markets. When it comes to the latter, this is just the beginning for those with the discipline to seek out under-appreciated opportunities in this fast-paced industry. Related: Bitcoin's Patronage System Is an Unheralded Strength The incoming bull market for crypto will look completely different than the last one. Mostly because there won’t be just one, but two different bull markets simultaneously playing out over the next 12-18 months. See also: Bitcoin ‘Active Entities’ at Highest Since 2017 Bull Run One will involve the rotation of capital from zombie projects to protocols where the underlying product is actually being used and accruing value. Even without an influx of new capital or users, there is still too much money tied up in ghost protocols, many of which dominate today’s large-cap names. After the last bull market, we were left with many projects with no real usage other than speculation. They were focused more on marketing efforts than actual product development. Related: TikTok and the Great Firewall of America Take XRP , for example. It is the king of worthless altcoins due to its ability to accrue very little to no value, even if adoption skyrockets. Even after the mid-March carnage, it still held a total market value north of $6 billion and currently trades close to $13 billion. Stellar’s native asset ( XLM ) is still in the top 15 at nearly $2 billion. NEO, another celebrated project in the ICO bull run that has yet to deliver, has a market cap of $1 billion. Story continues There’s an important difference between the adoption – or “success” – of a certain protocol and the potential for value to accrue to its native token. But as I’ve written before , the reallocation of capital away from zombie protocols has already begun. The “crypto tourists” of the last bull market have been driven out by inactivity, while the initial coin offerings and token projects they threw money at are shuttering. Decentralized finance (DeFi) is outshining alts , and investors now demand properly designed systems that actually contribute to the broader crypto ecosystem. The speed at which these projects innovate and adapt to new market conditions makes them extremely dynamic. They show the advantage of open source development versus more traditional top-down methods. Square may have an incredible team that’s been doing great work on all fronts (e.g., Cash App and Square Terminals). But even it can’t compete with the optionality of DeFi protocols. Now that DeFi base pieces have been laid, the sector is becoming more like an ecosystem than an industry with a bunch of different startup teams. See also: DeFi Dad – Five Years In, DeFi Now Defines Ethereum DeFi looks completely different today than even a few months ago. This time last year, there were only four DeFi projects in the top 100 crypto projects by market capitalization – Maker, 0x, Augur and Ren. Today, there are 11 with the addition of Aave , Synthetix , Compound , Kyber , Kava , Bancor and Loopring. This time next year, I predict there will be at least 25 in the top 100. That’s a lot of redistribution of capital even without an influx of new money coming in. The second bull market will be led by the usual suspect, bitcoin . As policymakers around the world continue to provide pandemic-related economic relief, bitcoin’s long-term value proposition as a hedge against fiat currency debasement only grows stronger. Circumstances are converging to accelerate us towards precisely the kind of world crypto was designed for. In the short run, non-sovereign scarce assets (i.e. BTC and gold) could be challenged by increased deflationary pressures. But such conditions would undoubtedly force policymakers to provide even greater monetary relief, compounding our conviction in bitcoin’s long-term value proposition as a hedge against fiat currency debasement. We saw a consistent misallocation of capital, with firms following each other into rounds at untenable valuations. When my partners and I left jobs in traditional finance to start a crypto research firm, we knew we were early, but we couldn’t help but sense something truly revolutionary was happening here: an era-defining opportunity on par with the advent of the internet. Two years later, after spending so much time closely tracking interesting protocols, that hunch has transformed into iron-clad conviction. This is exactly why our team is doubling down on our commitment to the industry. Last week, we officially announced Delphi Ventures , a new division of our company that will focus on providing long-term financial and intellectual capital to the most promising projects in the space. Broadly speaking, we saw a consistent misallocation of capital, with firms following each other into rounds at untenable valuations for pre-launch projects with no clear path to value-accrual and no justifiable use for those amounts of capital. On the other hand, our research led us to identify early stage projects with extremely promising ideas that we believed were being underfunded. See also: Crypto Hedge Fund Neural Capital Closes After Losing Half Its Money It’s easy in hindsight to say the investments made in the last period of market exuberance were doomed to failure, but there has been a shift in the standards of the industry. The foundation for the base infrastructure of the decentralized economy is being laid as we speak. The composability between projects allow teams to iterate much faster than traditional software companies and opens up experimentation going forward. My partner Medio Demarco said it best last year when tweeting that it was a bigger risk staying in traditional finance than getting involved in crypto. Eventually, I expect high-profile tech investors like Chamath Palihapitiya and Mark Cuban, who have expressed interest in crypto in the past, to go deeper and become champions of the sector. As of this weekend, the top 100 DeFi projects had a market cap of ~$7.3 billion. The total crypto market cap is around $370 billion. It’s crazy to think DeFi deserves less than 2% of this. On that note, I wanted to share a secret with all of you. At the top of the 2017 bubble, a friend of mine gave me a shirt as a joke. It says “moon: the moment when the crypto market cap reaches a total market cap of $1 trillion USD.” I can’t remember if I’ve ever worn it (hedging myself in case a photo leaks) but, as these two crypto bull markets converge, I think I may be caught wearing it sooner than I initially thought. Related Stories Two Reasons Crypto’s Bull Market Is Coming Two Reasons Crypto’s Bull Market Is Coming || 10 Reasons Quant Strategies for Crypto Fail: Jesus Rodriguez is the CEO of IntoTheBlock, a market intelligence platform for crypto assets. He has held leadership roles at major technology companies and hedge funds. He is an active investor, speaker, author and guest lecturer at Columbia University in New York. The terms “crypto” and “quant” seem to go perfectly together. Bitcoin and crypto assets were born during one of the most exciting times in capital markets coinciding with the golden era of quantitative finance. The technological acceleration caused by movements such as cloud computing and big data together with the renaissance of machine learning have collided to cause the perfect storm in favor of the quant revolution. Billions of dollars are shifting hands every year from discretionary funds into quant vehicles, and Wall Street cannot hire mathematicians and machine learning experts fast enough. Being a completely digital asset class, crypto seems like the perfect target for quant models. And yet, quant strategies remain constrained to relatively simple techniques such as statistical arbitrage (a pair trade strategy that looks to exploit market inefficiencies in a pair of securities) and we still haven’t seen the emergence of large dominant quant desks in the market. Despite the attractive characteristics of crypto assets for quant strategies, crypto poses unique challenges for quant models and the reality is that most quant strategies in crypto fail. In this article, I would like to explore some of the fundamental but not obvious reasons that can cause the failure of most quant strategies in the crypto space. Related: Blockchain Bites: Inside Cosmos, Bitcoin at $200B, DeFi Surges See also: Jesus Rodriguez – Crypto Needn’t Fear GPT-3. It Should Embrace It By claiming that most quant strategies in crypto fail, I am referring mostly to machine learning strategies. Statistical arbitrage has proven to be an effective mechanism to develop algorithmic strategies, but we should expect those opportunities to disappear as the market increases in size and efficiency. In traditional capital markets, we have seen an explosion in the implementation of machine learning-based quant models and the body of research in the space is growing exponentially. However, most of the quant strategies proven effective in traditional capital markets are likely to not work as well when applied to crypto assets. Based on some of our recent experience at IntoTheBlock working on predictive models and quant strategies, I’ve listed some of the factors that I believe can cause the failure of quant models for crypto assets. Story continues 1. Small datasets Many of the machine learning-based quant strategies you find in research papers are trained in decades of data from capital markets. The trading history of most crypto assets can be counted in months, and, even for vehicles like Bitcoin and Ethereum, the datasets remain relatively small. Many machine learning models will have a hard time generalizing any knowledge from such small datasets. Let’s say that you are trying to build a predictive model for the price of an asset like ChainLink ( LINK ), which is red-hot in recent days. It turns out LINK has a very small trading history, which is insufficient to train most machine learning models in quant finance. 2. Regular ‘outlier’ events Related: The Fourth Era of Blockchain Governance Although the terms “regular” and “outlier” should not be used in the same sentence, I can’t think of a better term to describe what we experience in crypto assets. Massive price crashes or sudden spikes that, in a lapse of a few hours, change the momentum in any crypto asset. These “outlier” events happen quite frequently with many crypto assets. From a machine learning perspective, most models will be puzzled with these price movements as they haven’t seen anything similar during training. It’s not surprising that many machine learning quant models got decimated during the flash crash of mid-March or failed to capitalize in the sudden increase in volatility of the last few weeks. It is hard to capture knowledge for those types of events during the training of the model. 3. Propensity to overfit A side effect of the small market datasets in crypto assets is the propensity of most machine learning quant models to overfit or to “optimize for the training dataset.” We constantly see quant models that perform incredibly well during backtesting just to fail when applied to real market conditions. 4. The regular retraining dilemma Think about this scenario: You have created a predictive model trained on a few years of Bitcoin trading history, then you experience weeks of almost no volatility followed by a few crazy volatile days (not that it has ever happened before ). You would like to retrain the model to capture that knowledge, but how? If you simply retrain the model in the most recent data, there is a strong chance of overfitting while if you wait then the knowledge might not be relevant any longer. Talent is a very important, and often overlooked aspect, to grow quant investment as a discipline in the crypto space. This retraining dilemma is a direct consequence of the “regular outlier events” phenomena. If you train a model in a dataset from the last 10 years of the S&P 500, you can design a strategy to retrain the model regularly as it is unlikely the index will deviate too much from its traditional behavior in short periods of time. This regular retraining of models that has been well adopted in traditional quant strategies goes out the window when it comes to crypto. 5. Data quality and reliability One of the biggest drawbacks of designing machine learning quant models for crypto assets is the poor quality and reliability of datasets. It is not a secret that many exchange order book datasets are full of records that indicate fake volumes, wash trades or spoofing behavior. Obviously, training a machine learning model using those datasets won’t produce any relevant results. Additionally, almost every week we hear about exchange APIs having outages and shutting down for hours. When was the last time you heard about a Nasdaq API crash? It definitely happens, but not that frequently. That lack of reliability can kill the accuracy of the most robust quant models. 6. Anonymous blockchain records Blockchain datasets remain one of the richest sources of alpha for quant strategies in the crypto space. But the anonymity of blockchain records makes it really challenging to design meaningful quant models. Let’s say, for instance, that one of the features in a quant strategy leverages the address count in the Ethereum blockchain. Well, addresses that are part of exchanges are fundamentally different from addresses of individual wallets and those are different from miners’ addresses. Labeling blockchain records is essential to design meaningful quant models based on blockchain datasets and, unfortunately, those efforts are still in the very early stages. 7. Factor strategies out the window Factor models have been at the center of some of the most successful quant strategies in the last two decades. Entire mega funds like AQR were built on the promise of factor investing quant strategies. From the original factors like value, momentum, or quality, factor strategies have grown to hundreds of factors that model relevant behaviors in financial asset classes. At least until today, most factor strategies have proven to be ineffective in the context of crypto assets. When it comes to crypto, factors like value and quality are not clearly defined and the behavior of others such as momentum defies conventional patterns. This causes many crypto quant desks to spend numerous hours trying to recreate factor-based strategies that are highly unlikely to perform in the crypto space. 8. Simple model fallacy The field of quantitative finance is rapidly gravitating towards large and complex models regularly outperform simpler and more specialized models. This trend is a reflection of what’s happening in the entire machine learning space. The advent of deep learning showed us it’s possible to create highly complex neural networks that acquire knowledge in the most unthinkable ways. Funds like TwoSigma and WorldQuant are actively pushing deep learning research and incorporating ideas coming out of the AI labs of tech giants like Google, Microsoft, or Facebook. Yet, in the world of crypto, most quant strategies still rely on very basic machine learning paradigms like linear regression or decision trees. Simpler models are unquestionably attractive given that they are easy to understand, but they can have a hard time generalizing knowledge from a complex environment such as the crypto markets. As a machine learning environment, crypto combines the complexity of a financial market with the inefficiencies and uncertainty of a new asset class. Definitely not the best fit for simple quant strategies. 9. Basic quant infrastructures Complementing the previous point, most quant infrastructures in the crypto space are relatively nascent. A robust quant infrastructure goes beyond good strategies and includes elements such as risk management, backtesting, portfolio management, strategy execution, error recovery and many others. In the crypto space, the quant infrastructure of most hedge funds remains relatively simple which makes it difficult to operate certain types of strategies. See also: Jesus Rodriguez – Myths and Realities: Sentiment Analysis for Crypto Assets For instance, suppose that you have designed a beautiful deep learning quant strategy that forecasts the price of Bitcoin based on blockchain datasets. To operate that strategy, a fund would need an infrastructure that collects blockchain records regularly, has the computer infrastructure to run deep learning models, the appropriate retraining tool, and so on. Today’s technology has certainly reduced the time and cost required to build a quant infrastructure to run machine learning models, but quant desks remain relatively basic compared to those operating in traditional capital markets. 10. Talent availability I left the most controversial point to the end. As a financial market, crypto is still failing to attract top quant talent with relevant experience in traditional capital markets. We are still tackling incredibly complex problems such as forecasting the behavior of an asset class with relatively simple models, basic infrastructure and poor processes. Talent is a very important, and often overlooked aspect, to grow quant investment as a discipline in the crypto space. There are incredibly talented quant teams in crypto, but they are the exception, not the rule. These are some points that might cause us to reflect about the current state of quant investment in the crypto space. Crypto is an ideal asset class for quant strategies and, in the long run, quant funds should be the dominant investment vehicle in crypto. The path includes many challenges, but also fascinating opportunities. Related Stories 10 Reasons Quant Strategies for Crypto Fail 10 Reasons Quant Strategies for Crypto Fail View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-10-28]
BTC Price: 304.62, BTC RSI: 84.09
Gold Price: 1177.10, Gold RSI: 61.36
Oil Price: 45.94, Oil RSI: 50.86
[Random Sample of News (last 60 days)]
Bitcoins In This ETF Not What It Seems: Yesterday’s surprise news that theARK Web x.0 ETF (ARKW | D-30)willstart includingbitcoins is a bit of a headscratcher to me. There are issues on a few levels that I have with this announcement. Let’s take them in order:
Why Now? Marketing Success
I get the allure of Ark trying to make some noise in its flagship fund. Launched in October of last year, ARKW has struggled to find a footing, and has just $12 million in assets at the moment. It’s also really suffered from on-screen liquidity problems, with less than a few thousand shares trading hands every day.
But the thing is, I can’t help but root for it. It’s not crazy that it’s failed to find traction—it’s actively managed. And like most actively managed funds, it needs time to develop a track record before core ETF buyers, like financial advisors, will be willing to take the leap of faith.
It’s about to come up on its one-year anniversary, and the truth is, it’s actually done very well versus broader-based tech funds. Consider the ~5 percent gap it’s opened up on the more broadly diversifiediShares US Technology ETF (IYW | A-96)in just under a year:
Heck, the fund has even outperformed the biggest ETF launch of the year, thePureFunds ISE Cyber Security ETF (HACK | C- 31).
So, as much as I think the fund probably deserves more attention than it’s received so far from investors, I can’t help but think the timing of the bitcoin announcement is slightly set to mark the one-year anniversary and crow-able performance.
It’s Not Really Bitcoins
The timing might make sense. I’m a bit more skeptical about the way in which it’s tackling bitcoins. When I read the press release, my first thought was that someone was stealing the march on the Winklevoss brothers’ upcomingWinklevoss Bitcoin Trust ETF (COIN)ETF—an actual ETF in registration that would solely invest in bitcoins. That ETF has been hung up at the SEC since filing, and there’s no word on when it may come out.
But Ark isn’t—instead, it’s investing in a company listed on the OTC pink sheets—the Bitcoin Investment Trust, which you can find on OTC under the ticker GTBC. GTBC is a strange beast. On the surface, it looks like a closed-end fund—accredited investors can petition authorized participants to create or redeem shares in 100-share baskets in a process clearly based on the fundamental precepts of how ETFs work.
But let me be perfectly clear: It may look like a duck, and quack like a duck, but GTBC ain’t no duck. It’s essentially entirely unregulated by the SEC. In fact, the whole reason Ark can get away with this quasi-ETF-like structure is precisely because the SEC hasn’t even decided what bitcoins are yet. GTBC’s owndisclosure documentsinclude this little sword of Damocles:
“To the extent that bitcoins are deemed to fall within the definition of a security for SEC purposes, the Trust and the Sponsor may be required to register and comply with additional regulation under the Investment Company Act of 1940. Moreover, the Sponsor may be required to register as an investment adviser under the Investment Adviser Act of 1940 and register the Trust as an investment company. Such additional registrations may result in extraordinary, recurring and/or non-recurring expenses of the Trust, thereby materially and adversely impacting the Shares.”
To translate that into Human: As soon as the SEC decides what bitcoins actually are, GTBC may get slammed with expenses or have to close.
Even if you love Internet stocks, there’s an enormous difference between investing in a small-cap startup company and investing in an essentially unregulated entity that may have to close precisely when bitcoins themselves graduate into the big leagues at some point in the future.
If that weren’t bad enough, the connection between the underlying net asset value of the bitcoins in GTBC and the trading price is tenuous at best.
This chart comes right from GTBC’s own website—since GTBC started trading on the pink sheets, the actual traded price has born little resemblance to the performance of bitcoins themselves (the blue NAV line itself), at times swinging wildly up or down seemingly in no relation.
From ARKW’s perspective, this may not matter in the long run, as I imagine it will be able to create and redeem through the AP process set up by GTBC. But day-to-day, I don’t see how the value of that investment—and thus your exposure as an investor—won’t be tied to the somewhat-capricious price of GTBC on the bulletin board.
And Then There’s Bitcoin
I admit it, I’m a full-on nerd. I play board games. I love my iPhone and my running gadgets and my voice-activated radio in the kitchen. So I love the idea of bitcoin. I love the idea of an unregulated currency that actually functions a little like gold-backed currencies were supposed to.
But the problem with bitcoin remains one of chicken-and-egg. Until I can get paid in it, and pay my mortgage with it, and buy my groceries with it, it just remains a speculative bet on an intermediate value store. Fundamentally, it’s no different than gold—it has value because lots of people think it should have value and want to use it to store value. And that’s why you end up with charts like this one:
That’s the value of a single bitcoin as reported by coindesk.com. And just like charts of gold, bitcoin has had its crazy hazy days (2014), and it’s had its rapid declines (2014). But here in the fall of 2015, I remain skeptical. For every announcement about anew vendoraccepting bitcoin, there’s one about some startupthat’s lost its way.
Toe In The Water?
In the end, I suspect the actual positions inside ARKW will be relatively small at first. I also suspect that when and if COIN comes to market, it will be the vastly preferred vehicle for such exposure, as the pink-sheet, unregulated nature of GTBC gives me genuine pause.
As ARKW is actively managed, the decision to add bitcoin now has to be seen as a tactical one, and as such, in a year, we’ll be able to look back and consider it a brilliant move, or a terrible one.
I’d say “grab the popcorn,” but I’m not sure the popcorn guy takes bitcoin yet.
At the time of writing, the author held no positions in the securities mentioned. You can reach Dave Nadig [email protected], or on Twitter @DaveNadig.
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Permalink| © Copyright 2015ETF.com.All rights reserved || GreenBank Subsidiary GreenCoinX Enables XGC to Trade on 15 Crypto Currency Exchanges: TORONTO, ON / ACCESSWIRE / September 14, 2015 /GreenBank Capital Inc (CSE:GBC) ("GreenBank") announces that its 80% owned subsidiary GreenCoinX Inc, the developer of the world's first identifiable crypto currency, and which has XGC as its digital currency identifier, and Crypto Next PLC an international crypto currency exchange with a "white label" exchange platform that has 14 affiliated exchanges, have agreed that XGC will be added on the Crypto Next platform and as such can be traded on all of its affiliated exchanges.
Crypto Next is based in the Isle of Man, and its exchange affiliates provide digital currency exchanges in multiple languages, multiple currencies, and with secure policies in accordance with Isle of Man regulations.
The exchanges that can now trade XGC are:-
Crypto Next —www.cryptonext.netCoinQX —www.coinqx.comCoin Cloud Ex —www.coincloudex.comBirja Monet —www.birjamonet.comAltbitex —www.altbitex.com
The Crypto Next affiliated exchanges that have yet to complete their review process with respect to trading XGC are:-
BitcoinX Romania —www.bitcoinxromania.comUniiFund —www.unii.fundStock Digital Coin —www.stockdigitalcoin.com.brTarge Exchange —www.targoexchange.comDollar exchange —www.edollar.internationalBitcoins Greece —www.bitcoinsgreece.comBitopia —www.bitopia.ioBanx Trade —www.banxtrade.comSchilling —www.eschilling.orgKoruna —www.koruna.in
As more crypto currency exchanges determine to trade XGC, GreenCoinX will make further announcements.
About GreenBank
GreenBank is a merchant banking business investing in Canadian small cap companies. Its 80% subsidiary GreenCoinX Inc. is a software company that has developed the world's first identifiable crypto currency. Its 100% subsidiary GreenBank Financial Inc. is an investment bank focusing on small cap companies. GreenBank has an investment portfolio with significant equity stakes in Leo Resources Inc (CSE:LEO), Hadley Mining Inc (CSE:HM) and Zara Resources Inc (CSE:ZRI).
For more information please seewww.GreenBankCapitalinc.comor contact Danny Wettreich at (647) 931 9768 [email protected].
About Crypto Next
Registered in the Isle of Man, a jurisdiction that is openly friendly towards digital currency companies, Crypto Next's platform has a global reach and offers a variety of languages, with recent additions including Portuguese and Romanian. In addition to providing multiple languages, multiple currencies, banking facilities and a regulatory framework, the Crypto Next platform adds security through vertical decentralisation as well as Isle of Man regulations that state that funds in the exchange be controlled by a Corporate Service Provider, such that fiat currencies in the network are secured by an independent third party. Crypto Next specialises in providing a software platform to "white label" exchanges, that can choose from a variety of features, coins and languages to suit their preferences. All the exchanges in the network share Crypto Next's unique tokenised fee system, whereby transaction fees can be paid for with the Crypto Next Coin (CXC), potentially saving savvy digital currency traders a great deal in fees. All white label exchanges are subject to the company's rigorous AML, CFT Policy in accordance with Isle of Man regulations. More information about Crypto Next is available atwww.cryptonext.net.
For press [email protected] USA +1 323 686 3359 or UK +44 870 471 5733.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., raising additional capital and the future development of GreenCoinX. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
This news release is not for distribution or dissemination in the United States of America
SOURCE:GreenBank Capital Inc || itBit hires former NY financial regulator's general counsel: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange itBit has hired Daniel Alter as the company's new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), said there was no impropriety in his employment at itBit. "The New York State Public Officers law requires that I have a two-year recusal before I can appear before the New York Department of Financial Services on behalf of the company," said Alter, who left the DFS in mid-February and joined itBit last week. "And it will certainly apply to itBit. I will not step near or have any communications with the New York Department of Financial Services. Those will be handled by outside counsel or qualified compliance people within the company," added Alter, who is also an adjunct professor of law at New York University School of Law. In June, Benjamin Lawsky, former superintendent of the New York DFS also left the agency to form his own consulting firm that will advise companies on regulation and other matters. Lawsky was widely criticized by the bitcoin community that he may have generated consulting work for himself by issuing controversial regulations for virtual currency firms before he left his post. itBit also announced the appointment of Kim Petry as the company's chief financial officer. Petry joins itBit from her post as CFO of global operations and technology at Broadridge Financial. Prior to Broadridge, Petry served as the CFO and vice president of global commercial/corporate card payment at American Express Co. itBit's new appointments are the latest in a series of high-profile additions to the company's leadership team. Sheila Bair, former chairman of the Federal Deposit Insurance Company, Senator Bill Bradley, and Robert Herz, former chairman of the Financial Accounting Standards Board, joined itBit's Board of Directors in May this year. The New York-based exchange was recently granted a trust charter by the DFS. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft) || Global Arena Holding Sub Buys Into Blockchain With BTC Purchase: NEW YORK, NY--(Marketwired - Oct 26, 2015) -Global Arena Holding, Inc.(the "Company") (OTC PINK:GAHC), announced today, that the Company has officially secured, with an initial investment, six blockchain startups, five provisional patents, one non-provisional patent and the expertise of Mr. Nick Spanos, through its subsidiary's acquisition of Blockchain Technologies Corporation ("BTC").
As noted in the Company'sForm 8-K Filing, GAHI Acquisition Corporation ("GAHI") has formally initiated the acquisition of BTC with an initial investment into the technology firm,solidifying the Company's entry into the Blockchain. Mr. Matthews and Nick Spanos (BTC's President), commenced this acquisition effort during the 2nd Quarter of 2015. During the 3rd Quarter, the Companysecured the initial capitalrequired to start formal execution of theAgreement and Plan of Mergerbetween GAHI and BTC.
As a result, the Company has a tenable accumulation of up to 30% of BTC in this initial transaction, having (i) acquired a 10% stake of BTC through a cash and stock deal, and, (ii) secured a right to acquire an existing position held by a third party BTC debtholder which is convertible into an additional 20% stake of BTC. As this dealsolidifies the Company's entry into the Blockchain, BTC is expected to ultimately merge with GAHI, leaving GAHI as the surviving entity.
"It is now official!" said Mr. John Matthews, CEO of the Company. "Through this deal, we have nowsolidified the Company's entry into the Blockchain. What makes this foray even more exciting is that Global Election Services ("GES") nowhas complete accessto Nick Spanos and his expert knowledge of the blockchain. This givesMs. Maralin Falikthe ability toleverage the power of the blockchain, through vertical applications developed by BTC -- and enhance the rapid expansion of our election services business."
Management believes that the Company is now well positioned to make significant contributions to the ongoing development of whatMarc Andreessensuggests, could be the most important invention since the Internet itself. And with BTC under its umbrella, the Company intends to leverage its new competitive advantage, "using thisdistributed consensus model, to influence and create vertical blockchain applications that will prove both useful to the world and lucrative to Global Arena Holding," concluded Matthews.
For a message from the CEO expanding on this opportunity, visit:http://wp.me/p6Nf5M-CX
About Blockchain Technologies Corporation
Blockchain Technologies Corporation ("BTC") is a technology company which leverages the underlying crypto technology of Bitcoin [Blockchain] and the blockchain'sdistributed consensus model. BTC, which acts as a seed accelerator for blockchain related opportunities, currently features six blockchain startups, five provisional patents and one non-provisional patent, specific to the crypto technology.
For more information visit:http://blockchaintechcorp.com/
About Global Arena Holding
The Company trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc. and GAHI Acquisition Corp. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
For more information visit:http://globalarenaholding.com
Twitter:www.twitter.com/GlobalArenaGAHCFacebook:www.facebook.com/GlobalArenaHoldingGAHCLinkedIn:www.linkedin.com/pub/global-arena-holding/107/86a/a7Google+:http://tinyurl.com/GlobalArenaHolding
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission. || Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency.
The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope.
"CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday.
Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets."
Francisco Riordan was not immediately available for comment when contacted by CNBC.
Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.
As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale.
The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall.
Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money." || XBT Provider AB: Bitcoin Tracker EUR to start trading on Nasdaq Nordic today: Stockholm, SWEDEN (October 5th, 2015) -XBT Provider AB is proud to announce the launch of Bitcoin tracker Euro.
Starting today anyone with a brokerage account connected to Nasdaq Nordic can trade the ETN "Bitcoin Tracker EUR" The ticker code is Bitcoin XBTE. ISIN: SE0007525332
Bitcoin Tracker EUR is designed to mirror the return of the underlying asset, U.S. dollar (USD) per Bitcoin. The product is an exchange traded note designed to track the movement of the underlying asset after fees.
Bitcoin Tracker EUR is our second Bitcoin-based security available on Nasdaq Nordic. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to Bitcoin prices.
"Bitcoin tracker EUR" (BTE) is listed on Nasdaq Nordic in Stockholm and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. BTE is also available via Bloomberg terminals through the ticker code COINXBE.
The full prospectus is available onxbtprovider.com
Bitcoin Tracker EUR is issued under the same prospectus as Bitcoin Tracker One which isapproved by Sweden`s financial supervisory authority, Finansinspektionen.
ABOUT XBT PROVIDERXBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313.
ABOUT THE MARKET MAKER: MANGOLD FONDKOMMISSIONMangold Fondkommission is a Stockholm based Brokerage and Investment bank. As a member of Nasdaq Nordic the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One and Bitcoin Tracker EUR.
FOR FURTHER INFORMATION, PLEASE CONTACT
Alexander MarshE-mail:[email protected]
Johan WattenströmE-mail:[email protected]
Press release (PDF)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1956529 || Barclays Becomes First Big U.K. Bank To Accept Bitcoin: Over the weekend, Barclays PLC (NYSE: BCS ) announced that it was planning to take steps toward embracing the use of bitcoin by allowing charitable donations using the cryptocurrency. The London-based bank said it was entering into a partnership with an unnamed "bitcoin exchange" in order to help charities accept bitcoin donations. Barclays And Bitcoin This is not the first time the bank has expressed interest in bitcoin. Related Link: Bitcoin Goes Ivy League Barclays has been working to understand the benefits and risks of the cryptocurrency this year by working with bitcoin startups and researchers to determine if and how digital currencies can fit within the traditional finance sector. The bank has praised blockchain, the ledger-like technology that powers bitcoin, as an innovative system that may significantly benefit traditional banking. Bitcoin Donations Barclays' decision to help charities accept bitcoin donations marks another step forward for the UK, which has been working to make London a hub for bitcoin development. The region already has a prominent place in the financial world, but lawmakers and banking officials are hoping to create an environment that promotes the expansion of bitcoin. Charities Benefit From Bitcoin Charities have been a good starting point for bitcoin adoption, as there are several benefits to accepting digital currency donations. For one, transaction costs are lower, and often nonexistent for non-profits, meaning that more of the donated money makes its way to the intended charity. By accepting bitcoin, charities also appeal to a larger audience and could draw in funding from people who otherwise may not have donated. See more from Benzinga Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Goldman Sachs Still Likes Barclays Among European Banks; Upgrades Credit Suisse: Since 2008, European banks have gone through multiple strategic cycles and goals which were subsequently not met. Jernej Omahen of Goldman Sachs says "this time feels different" and banks' objectives and targets can now be achieved. Top picks in European banks include: Credit Suisse Group AG (ADR) (NYSE: CS ) which was maintained at a Buy rating and added to the Goldman Sachs Conviction List, and Barclays PLC (ADR) (NYSE: BCS ) which remains Conviction Buy rated. Back in 2008 many European banks set out ambitious strategic goals and financial objectives that were subsequently not met, marking a pattern that repeated itself - until now. In a note published Tuesday, Jernej Omahen of Goldman Sachs stated that "this time feels different" with the CEOs of Deutsche Bank AG (USA) (NYSE: DB ), Credit Suisse and Barclays having "changing incentives" and can deliver growth better than its peers. Related Link: Is Europe The New Home For Bitcoin? Omahen said the CEOs of the major European banks are "new and outsiders at the same time" and their incentives to persist with previous failed strategies and "ambitious" targets are low. At the same time, their incentives to implement new strategies and three-year achievable plans are "high." European banks are still "strained" by regulators and their capital positions "need to improve further." Using this as a starting point, Omahen suggested that the banks need their strategies to focus on costs and the best, highest-return businesses. The analyst expanded that this is an option as "most likely" at Credit Suisse and "less so" at Barclays. Rating And Price Target Changes (Note: The analyst's coverage and price targets are based on European-listed exchanges, not their respective U.S.-based ADRs). Shares of Credit Suisse remain Buy rated and were added to the Goldman Sachs Conviction List with a price target raised to SFr 32.50 from a previous SFr 30.80. Shares of Deutsche Bank remains Neutral with a price target lowered to €33 from a previous €34.60. Shares of Barclays remain Conviction Buy rated with a price target raised to p345.0 from a previous p335.0 Shares of UBS were downgraded to Neutral from Buy with a target raised to SFr 21.10 from a previous SFr 20.70. Latest Ratings for BCS Aug 2015 Investec Upgrades Sell Buy May 2015 Berenberg Downgrades Hold Sell Jul 2014 Macquarie Upgrades Neutral Outperform View More Analyst Ratings for BCS View the Latest Analyst Ratings See more from Benzinga A Basket Of Stocks To Play New York Fashion Week Analyst: Wayfair Consumer Awareness At Highest Level Ever Google Hires TrueCar President For Self-Driving Car Project; Shares Of The Pricing Website Decline © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Ripple Adds Santander InnoVentures Fund as Series A Investor: SAN FRANCISCO, CA--(Marketwired - Oct 6, 2015) -Ripple, provider of global financial settlement technology (formerly known as Ripple Labs), today announced thatSantander InnoVentures--Santander Group's $100 million fintech venture capital fund -- has joined itsrecent Series A funding roundas an investor, bringing the round's total to $32 million.
Ripple's Series A funding round included a mix of traditional investment firms and global strategic investors that all support the vision for Ripple to enable an Internet of Value (IoV) by powering the real-time, secure settlement of funds for financial institutions and their customers worldwide.
"Santander InnoVentures is a natural fit in this round because of their demonstrated support for real-time international payments and their commitment to new technologies that enable Santander to empower its customers," said Ripple CEO and co-founder Chris Larsen. "We are excited to work closely with them in building the Internet of Value and accelerating adoption amongst financial institutions, market makers and businesses worldwide."
The Santander InnoVentures fund is an investment vehicle designed to partner with portfolio companies and explore new technologies that can be used in support of Santander's customer base.
"Santander has long been an advocate for modernizing banking infrastructure," said Mariano Belinky, Managing Partner of Santander InnoVentures. "In our recentFintech 2.0 report, we highlighted the $20 billion opportunity available to the financial services industry, and many of the scenarios where distributed ledger technology will have a positive impact."
Belinky added: "We believe Ripple possesses the talent, technology, and momentum to address many of these scenarios, and are actively exploring where and how best to apply Ripple technology inside the bank. Ripple and Santander share a common vision of the future of the industry, and we intend to jointly advocate it in the community."
Other investors in Ripple's Series A round includeIDG Capital Partners, the venture arms ofCME Groupand global data storage companySeagate Technology, Jerry Yang'sAME Cloud Ventures,ChinaRock Capital Management,China Growth Capital, Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG),Bitcoin Opportunity Corp.,Core Innovation Capital,Route 66 Ventures,RRE Ventures,Vast Ventures, andVenture 51.
Ripple provides bank-grade solutions that enable the world's disparate financial networks to securely transfer funds in any currency in real time. Financial institutions use Ripple as an alternative to correspondent banking to facilitate real-time, certain settlement at the lowest total cost possible.
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, please visithttp://www.ripple.com.
About Ripple
Rippleprovides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information - giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, without correspondent banks, and with real-time certainty of settlement. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join the growing, global network of financial institutions and market makers laying the foundation for the Internet of Value.
Ripple is a venture-backed startup with offices in San Francisco, New York and Sydney. As an industry advocate for the Internet of Value, Ripple sits on theFederal Reserve's Faster Payments Task Force Steering Committeeand is a member of theW3C's Web Payments Interest Group.
About Santander InnoVentures
Launched in July 2014 with a global remit to invest in transformational fintech business, Santander InnoVentures is based in London. The fund builds on the bank's philosophy of collaboration and partnership with small and start-up companies. Santander InnoVentures provides fintech companies with growth finance, industry expertise and access to Santander's internal technology and operations organisations.
Through this hybrid approach to investing, Santander Group ensures continuous innovation within its own business to the benefit of customers around the world, as well as helping new fintech businesses to succeed. Santander InnoVentures focuses on working with fintech businesses operating within digital delivery of financial services, e-commerce and payments, online lending, e-financial investments, big data and analytics.
The Fintech 2.0 Paper is a call to action for both banks and fintechs to consider the multi-billion dollar opportunities available through partnership. Download the full paper, exploring these opportunities in-depth and identifying specific use-cases, here:www.santanderinnoventures.com/fintech2
For more information, visitwww.santanderinnoventures.com. Follow Santander InnoVentures on Twitter:@SanInnoventures.
Banco Santander(SAN.MC, STD.N, BNC.LN) is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top 12 banks on a global basis. Founded in 1857, Santander had EUR 1.51 trillion in managed funds, 12,910 branches and 190,000 employees at the close of June 2015. In the first half of 2015, Santander made ordinary attributable profit of EUR 3,426 million, a 24% increase. || Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre: Latin America's version ofeBay Inc(NASDAQ:EBAY), MercadoLibre, hasannouncedthat it will be integrating bitcoin payments into its services. The move represents a big win for the cryptocurrency community, which has long promoted bitcoin usage in regions like Latin America where a large percentage of the population are still unbanked.
Bitcoin Improves Service
MercadoLibre sent anemail notificationto users announcing its plans to integrate bitcoin and saying that the decision will give merchants a wider reach and customers more options. The site is planning to make bitcoin integration subtle and said that merchants won't see much change to their user experience other than a note in their transaction history saying which payments were made via digital currencies.
Related Link: Charlie Shrem Weighs In On Bitcoin From His Prison Cell
Not Quite Yet
While MercadoLibre has announced its plans, it is still unclear how the rollout will take place. The site currently serves 13 Latin American countries and it is unknown how many will receive a bitcoin option. The site will also have to deal with the changing regulations regarding bitcoin payments as the cryptocurrency evolves and spreads across the globe.
Latin American Potential
Bitcoin has long been touted as a good option for countries where much of the population has limited access to banking facilities. Bitcoin has also proven to be a viable alternative for those living in a country where the currency is prone to volatility. For that reason, many believe that bitcoin's expansion into Latin America is an important step forward. However, the cryptocurrency is likely to face some obstacles there as well since over half of the population doesn't have access to the Internet.
See more from Benzinga
• Traditional Energy Firms Likely To Back Bush On New Policy Proposal
• Next Generation Connected Cars To Have Wireless Updates
• Google Toes The Line Between Safe And Realistic With Autonomous Cars
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$255.81 #bitfinex;
$255.73 #coinbase;
$254.32 #bitstamp;
$254.00 #btce;
#bitcoin #btc || Current price: 246.98€ $BTCEUR $btc #bitcoin 2015-10-23 11:00:05 CEST || Current price: 214.14€ $BTCEUR $btc #bitcoin 2015-09-10 18:00:02 CEST || Bitcoin traded at $229.19 USD on BTC-e at 03:00 PM Pacific Time || 1 #BTC (#Bitcoin) quotes:
$268.66/$268.92 #Bitstamp
$266.38/$267.00 #BTCe
⇢$-2.54/$-1.66
$269.07/$269.16 #Coinbase
⇢$0.15/$0.50 || In the last hour, 10 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || 現在の価格は 29033円(http://blockchain.info )です。前回比は0円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || 1 #bitcoin 689.25 TL, 232.07 $, 204.870 €, GBP, 15347.00 RUR, 29100 ¥, CNH, 311.37 CAD #btc || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Cotización #bitcoin = $4081.00 MXN | $248.72 USD #BitAPeso 1 USD = 16.41MXN http://www.bitapeso.com
#fintech
|
Trend: up || Prices: 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48
|
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 2020-10-21]
BTC Price: 12823.69, BTC RSI: 79.93
Gold Price: 1924.60, Gold RSI: 54.72
Oil Price: 40.03, Oil RSI: 48.68
[Random Sample of News (last 60 days)]
Canaan Inc. Announces Up to US$10 Million Share Repurchase Program: HANGZHOU, China, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$10 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing 15 Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from September 22, 2020.
Under the share repurchase program, the Company may repurchase its ADSs from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof. In addition, Canaan will also effect repurchase transactions in compliance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and its insider trading policy. The number of ADSs repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with Canaan’s working capital requirements and general business conditions. The Company’s board of directors and/or its management will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund the repurchases from its existing cash balance.
About Canaan Inc.Established in 2013, Canaan Inc. provides high-performance computing solutions to efficiently solve complex problems. In 2016, Canaan successfully initiated the production of its first 16nm chip and passed the test to receive China's national high-tech enterprise certification. In 2018, Canaan achieved major technological breakthroughs to launch the K210, the world's first-ever RISC-V-based edge artificial intelligence (AI) chip, which is now widely used for access control in situations such as smart door locks and more. Canaan Inc. is currently focused on the research and development of advanced technology, including such areas as AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. Using the AI chip as its base, Canaan Inc. has established an intellectual value chain. Canaan Inc. also provides a suite of AI service solutions and is able to tailor these solutions to the needs of its partners. For more information, please visit: investor.canaan-creative.com.
Safe Harbor StatementThis announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.’s strategic and operational plans, contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the Bitcoin industry and the price of Bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its Bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry in China; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC, including its registration statement on Form F−1, as amended, and its annual reports on Form 20−F. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law.
Investor Relations ContactCanaan Inc.Mr. Shaoke LiEmail: [email protected]
ICR Inc.Jack WangTel: +1 (347) 396-3281Email: [email protected] || Australian Payments Firm Sues Ripple for Use of PayID Trademark: A major Australian financial services firm is suing U.S. blockchain company Ripple Labs over allegations of trademark infringement.
• In acourt documentfiled Friday in the Federal Court of Australia New South Wales Registry, New Payments Platform Australia (NPPA) claims Ripple breached Australia’s Trade Marks Act (1995) and the Australian Consumer Law with the unauthorized use of its brand and trademark “PayID.”
• NPPA asserts the PayID brand was launched in Australia in February 2018 backed by an AU$3.3 million advertising campaign, and that it has worked since to develop the brand.
• However, in June NPPA CEO Adrian Lovney found Ripple had launched a similar PayID-branded service in Australia as part of its Open Payments Coalition (OPC) with 40 partners globally.
• Three out of the 40 companies in Ripple’s OPC are based in Australia: FlashFX, BTC Markets and Independent Reserve, per the filing.
• Lovney claims there is evidence that the three exchanges “incorrectly believed” there was an association between services offered by the NPPA and those offered by Ripple under the PayID trademark.
• PayID is used by NPPA to identify the its service and the account proxies that form part of its inter-banking services.
• It enables customers to create their own unique identifier that can be linked with their financial institution by an email address, mobile number or Australian Business Number.
• NPPA said 5 million PayIDs had already been registered and that it already comprises an important part of Australia’s NPP – a payments platform developed and operated by NPPA.
• Justice Stephen Burley ruled Friday that NPPA may serve Ripple notice outside of Australia.
• NPPA is a joint venture public company mutually owned by 13 of Australia’s largest financial institutions including the Reserve Bank of Australia, ANZ Bank, Westpac and Commonwealth Bank among others.
See also:Blockchain-Based Trademark App Can Boost Australian Economy, Says Minister
• Australian Payments Firm Sues Ripple for Use of PayID Trademark
• Australian Payments Firm Sues Ripple for Use of PayID Trademark
• Australian Payments Firm Sues Ripple for Use of PayID Trademark
• Australian Payments Firm Sues Ripple for Use of PayID Trademark || 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 || 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 || Chinas BSN to Localize 24 Public Blockchains by Making Them Permissioned: Chinas state-sanctioned blockchain infrastructure project is finally bringing public chains to its Chinese users but with a significant twist. The Blockchain-Based Service Network (BSN), a standardized internet services provider for decentralized applications (dapp) developers, plans to make 24 public chains available in its network for Chinese users starting from the second half of November, according to an internal memo obtained by CoinDesk. Developers can use the technical frameworks behind these public chains to build and run dapps that serve a range of purposes such as financing platforms for small and medium enterprises, source tracking for food companies and record-keeping for banks, law firms or government agencies. Related: US Charges 3 With Vast 'Crypto Jacking' Computer Fraud Scheme These public chains will look quite different after being localized for the Chinese market, however. The network will make the decentralized public chains permissioned and replace their tokens with direct payment by the Chinese currency renminbi to cover transaction fees on these chains. This is part of a much larger story. The Chinese government is an active supporter of blockchain technology but only on its own terms. Authorities would like to reap the benefits of blockchain techs traceability and efficiency, but without the decentralization embraced by public chains like Bitcoin and Ethereum. BSNs latest move came one month after the network integrated six major public chains into the global version of its network. This was so that developers outside China could use a standardized development environment to build and run decentralized applications on these public chains. Unlike in the localized version, public decentralized chains are allowed in the global version of BSN. There have been few effective ways for public chains to enter the Chinese market and scale up due to legal and regulatory requirements and how these projects position themselves, the memo, translated by Coindesk from the original Chinese, said of this latest development. Story continues Related: 'Sharing Economy' Startup ShareRing Tapped for China's Blockchain Service Network The public decentralized chains will become public permissioned consortium chains, which can be supervised by regulators, and that is currently the most direct and effective way for the projects to be compliant and reach domestic users within China. Read more: China Aims to Be the Worlds Dominant Blockchain Power With Help From Google, Amazon and Microsoft These new permissioned chains will look very different from the original versions. To make public decentralized chains, such as Ethereum, permissioned, BSN will only allow its designated operators to build and operate nodes, where dapps verify on-chain transactions and store data. The network will block all peer-to-peer fee transactions and require its users to use renminbi instead of Ethereum gas to cover fees for building and running dapps on chain. BSN has made it technically impossible to do any virtual currency transactions on the public chains, the memo said. BSN strictly follows related laws and regulations and will remove any chain that violates them from the network. BSN aims to complete all 24 public chains integration with the domestic version of the network during the first quarter of 2021 and enable these chains to share data with each other in the first half of the same year. The networkhas formed Public Permissioned Blockchain, a consortium to govern the services on adapted public chains. Huobi Group, as the only named member of the consortium in the memo, will be in charge of transaction settlement and clearing, marketing for the new services and operating the official portal. An unnamed cloud services provider will offer the adapted public chains data storage and other basic internet resources. One of BSNs backers is Chinese tech conglomerate China Mobile, which has an extensive network of data centers across the country. BSN has also worked with the Chinese branch of Amazon Web Service to provide Internet services for dapps. BSN is backed by the State Information Center of China, a think tank under the National Development and Reform Commission (NDRC), the highest economic planning agency. BSN will be responsible for compliance with Chinese regulators and adapting the public chains technical framework into the network. While the memo does not disclose any names of these 24 public chains, BSN has already integrated major international projects including Tezos, Ethereum and Cosmos IrisNet. The 24 public chains are highly reputable in the global blockchain community, however, we will not use their original names when they go live on BSN, the memo said. The chains will be renamed based on 24 Chinese solar terms, a traditional agricultural calendar that informs farmers of seasonal changes. For example, one of the 24 solar terms is First Frost, which indicates the weather is getting colder and water droplets are starting to freeze. Insect Awakening means it is getting warmer and insects that hibernate underground are about to wake up and go outside. The forbidden fruit Public decentralized blockchains have been under heavy scrutiny from the Chinese government since 2017, when China cracked down on initial coin offerings and local exchanges. ICO projects were hard to supervise because of their decentralized nature, and authorities feared that wild token speculation could undermine Chinas financial stability . The tokens from public chain projects are a threat to Chinas long-standing capital control and monetary sovereignty of the Chinese currency. For example, tether , an Ethereum-based token pegged to the U.S. dollar, has become one of the most popular ways for cross-border transactions between Asia and the rest of the world. Authorities may also fear tokens could threaten the use of the renminbi and that would jeopardize monetary policies relying on the control of supply and demand of the Chinese currency. Read more: Chinas Blockchain Infrastructure to Extend Global Reach With Six Public Chains In part to pre-empt the rise of tokens such as bitcoin , the Chinese central bank invented its own national virtual currency , Digital Currency Electronic Payment (DCEP) or the digital yuan. Another reason why China is critical of public decentralized chain projects is the potential for scams, such as Ponzi and pump-and-dump schemes offered as initial coin offerings (ICO) that mushroomed during and after the 2017 ICO boom. In September 2017, the Chinese central bank made any centralized ICO fundraising illegal. The Peoples Bank of China also carried out a slew of crackdowns on centralized crypto exchanges and fiat-crypto trading, and prohibited any Chinese bank from processing crypto-related transactions. Inspired by AntChain AntChain , a permissioned enterprise blockchain developed by Ant Financial, a subsidiary of Chinese tech giant Alibaba, has been one of the inspirations for BSN to launch the Public Permissioned Blockchain consortium, according to the memo. It was a milestone when the company launched Ant Blockchain Open Alliance, a consortium that governs its blockchain-based platform lowering the cost for small and medium enterprises to use blockchain technology, the memo said. Technically speaking, it is a public permissioned chain with a few authorized nodes. Read more: Chinas Blockchain Infrastructure Launches Website for Global Devs One of the main missions for Ant Financial is to provide small and medium enterprises with a more accessible financing platform based on its public permissioned blockchain technology. The company could also leverage the large client base of Alibabas other subsidiaries, such as Ali Cloud for internet and data services and the digital payment company Ant Financial for any financial transactions in its app. Ant Financial claims its users had been uploading an average of $100 million in digital assets, including copyright and property ownership certificates as well as transaction records, to its blockchain in July. Chinese shipping giant Cosco said it was trialing AntChain for tamper-free documentation including container records and import licenses. The company aims to go public on the Shanghai and Hong Kong stock exchanges at a valuation of $200 billion. If the deal follows through, it will be arguably the largest company that operates its own enterprise blockchain. Related Stories Chinas BSN to Localize 24 Public Blockchains by Making Them Permissioned Chinas BSN to Localize 24 Public Blockchains by Making Them Permissioned || PayPal bitcoin acceptance sees cryptocurrency price shoot up $1,000: Bitcoin’s price surge d after PayPal announced support for the cryptocurrency (Getty Images/iStockphoto) PayPal has announced that customers will be able to store and spend bitcoin and other cryptocurrencies through its online platform, causing bitcoin’s price to shoot up to its highest price since July 2019. The world’s most popular cryptocurrency hit $12,800 (£9,700) following Wednesday’s announcement, up more than $1,000 from 24 hours earlier. PayPal’s support opens up cryptocurrencies to its 346 million customers worldwide, allowing them to shop with them at the 26 million merchants on PayPal’s network. The new service makes PayPal one of the largest US companies to provide consumers access to cryptocurrencies, which could help bitcoin and rival cryptocurrencies gain wider adoption as viable payment methods. The San Jose, California-based company hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that central banks and companies may develop, president and chief executive Dan Schulman said in an interview. "We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role," he said. US account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. PayPal plans to expand the service to its peer-to-peer payment app Venmo and some other countries in the first half of 2021. The ability to make payments with cryptocurrencies will be available from early next year, the company said. Bitcoin’s price (green) and market cap (blue) have experienced extreme volatility since 2017CoinMarketCap Other mainstream fintech companies, such as mobile payments provider Square Inc and stock trading app firm Robinhood Markets Inc, allow users to buy and sell cryptocurrencies, but PayPal's launch is noteworthy given its size. The company has 346 million active accounts around the world and processed $222 billion in payments in the second quarter. PayPal's shares were up 4 per cent at 1418 GMT, set for their best day in a month. Bitcoin hit its highest since July 2019 on the news. It was last up 4.8% at $12,494, taking gains for the original and biggest cryptocurrency above 75 per cent for the year. Story continues Cryptocurrency market players said the size of PayPal meant the move would be a plus for bitcoin prices. "The price impact will be positive overall," Joseph Edwards of Enigma Securities, a cryptocurrency brokerage in London, said. "There's no comparison with regards to the potential exposure between the upside of PayPal offering this, and the upside of any similar previous offering." Today, we are announcing the launch of a new service that will enable customers to buy, hold and sell #Cryptocurrency directly from their PayPal account. https://t.co/QS6JRmG9hs pic.twitter.com/uHBatfZkbF — PayPal (@PayPal) October 21, 2020 Bitcoin and other virtual coins have struggled to become established as widely used forms of payment, despite being around for more than a decade. Cryptocurrencies' volatility is attractive for speculators, but poses risks for merchants and shoppers. Transactions are also slower and more costly than other mainstream payment systems. PayPal believes its new system will address these issues as payments will be settled using traditional currencies, such as the US dollar. This means PayPal will be managing the risk of price fluctuations and merchants will receive payments in virtual coins. "We are going about it in a fundamentally different way to make sure we provide the maximum amount of safety to our merchants," Schulman said. PayPal's service comes as some central banks have announced plans to develop digital versions of their currencies, following a Facebook-led cryptocurrency project Libra in 2019, which was met by strong regulatory pushback.. PayPal was among the founding members of this project but dropped out after a few months. PayPal has secured the first conditional cryptocurrency licence from the New York State Department of Financial Services. The company will initially allow purchases of bitcoin and other cryptocurrencies called ethereum, bitcoin cash and litecoin, it said. PayPal is teaming up with cryptocurrency firm Paxos Trust Company to offer the service. “The decision by one of the biggest payment companies in the world to allow customers to buy, sell and hold Bitcoin is yet another example that exposes Bitcoin deniers and cryptocurrency cynics as being on the wrong side of history," said Nigel Green, CEO of financial advisory firm deVere Group. “Let’s be clear: This is a major step forward towards the mass adoption of digital currencies.” Additional reporting from agencies. Read more How bitcoin, gold and other assets have fared through the pandemic || Bitcoin.com Exchange to List Aspire and Aspire Gas as Newest Digital Asset Creation Platform Comes to Market: Aspire (ASP) is the first digital asset creation platform to resist both mining exploits and 51 percent attacks common to proof-of-work blockchains. Its fees are a tiny fraction of creating assets on Ethereum or other platforms due to its innovative Aspire Gas (GASP) blockchain. Both tokens will be listed with BTC, BCH, USDT, and ETH trading pairs. LAS VEGAS, Sept. 30, 2020 (GLOBE NEWSWIRE) -- ( via Blockchain Wire ) - Bitcoin.com Exchange is thrilled to announce the upcoming listing of two new digital assets: Aspire (ASP) and Aspire Gas (GASP) on the 30th of September 2020 at 10:00 UTC. Both tokens were created by Aspire Technology, under the leadership of core developer Jim Blasko, a proof-of-work innovator since 2012. What is Aspire Technology? Aspire Technology is a leading developer of digital asset creation technologies. It was incubated by the bCommerce Labs accelerator fund and other angel investors. The Aspire platform, which consists of the Aspire (ASP) digital asset creation platform and Aspire Gas (GASP) blockchain, is the first digital asset creation platform to resist both mining exploits and 51 percent attacks that are common to proof-of-work blockchains. The Aspire platform improves upon the standard Counterparty open-source code, but grafts in an automated checkpoint server to prevent 51 percent attacks that have caused many other blockchains to be attacked and lose funds. Aspire is also not subject to miner attacks. Many other platforms have suffered one of these two common exploits that Aspire is immune from. Why should one choose ASP & GASP? Aspire (ASP) improves on speed, cost, and security for creating both fungible and non-fungible (NFT) tokens. It allows professional developers and hobbyists alike to create extensive digital assets involving up to 92 billion tokens per asset, as well as unlimited sub-assets, with no programming experience required, for about a dollar per asset. Aspire Gas (GASP) powers Aspire transactions for thousandths of a penny per transaction. Story continues Cost Effective Asset Transactions Aspire uses very small fractions of GASP for all transactions of digital tokens/assets sent on the Aspire network. gAsp currently charges 1 satoshi per byte when creating a transaction. These low fees allow for thousands of transactions with a single GASP, thus creating an extremely cost-effective way for sending small or large amounts of assets/tokens. Aspire is far more affordable than Counterparty, Maidsafe, Omni, Ethereum, Ravencoin, NEO, or any other digital asset platform. Speed The gAsp core and its increased speed allows for secure confirmations that average about 2 minutes, which is 5x faster than Counterparty or Bitcoin. The gAsp's core is built on PoW (Proof Of Work) via scrypt mining and is designed for processing all of Aspire's transactions onto one secure blockchain. All transactions of digital assets created on Aspire will always confirm at least 4x faster than Bitcoin's 10 minute block time. Security By implementing advanced checkpoints into gAsp's core, Aspire assets will be free of double spending, 51% attacks, and hostile takeovers of the blockchain. This is a first in asset creation platforms and gives Aspire the ultimate protection from malicious attacks. On Aspire, anyone can create assets at an extremely low price and in under two minutes. Currently the cost to do this is 10 Aspire coins (ASP), which are currently offered for free for a limited time through the Aspire bounty program. In addition, Aspire is 5x faster than Bitcoin. One Aspire Gas coin (GASP) allows more than 300,000 transactions of any asset created on Aspire. Strong Endorsement Danish Chaudhry, Head of Bitcoin.com Exchange, shared his views on the Aspire platform and what hes looking forward to most in the relationship: Ive followed the team behind Aspire, and the platform upon launch for quite some time now. It is an incredible platform, not only because of its speed, but the core technology implemented. The focus and dedication given in this project is unparalleled, and their all-star team is by far one of the strongest in the industry. Excited to welcome ASP and GASP into our ranks. Jim Blasko, CEO and Co-Founder of Aspire, added: We are very proud that Bitcoin.com will be the first exchange to take on trading pairs for GASP and ASP, the native cryptos of the Aspire platform. By working with Bitcoin.com, Aspire and its amazing asset creation tools now fall into the hands of millions of new users. Our goal was to make crypto asset creation better in every way possible for the user, and this partnership is another stepping stone in the natural organic growth of Aspire. Todays milestone ensures that future assets created on Aspire can be supported via Bitcoin.coms exchange. Michael Terpin, Co-Founder and Chairman of Aspire also added: Ordinary consumers will drive the next massive wave of crypto adoption, just as they did in the second decade of the web. Aspire is poised to become the leading digital asset creation platform globally by combining ease of use with high speed and near-zero fees. We believe in the very near future, most people will have dozens of digital assets they interact with regularly. About Bitcoin.com Exchange The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow as you read this sentence. About Aspire Technology and the Aspire platform Aspire Technology is a leading developer of digital asset creation technologies. It was incubated from the bCommerce Labs accelerator fund and other angel investors. The Aspire platform, which consists of the Aspire (ASP) digital asset creation platform and Aspire Gas (GASP) blockchain, is the first digital asset creation platform to resist both mining exploits and 51 percent attacks that are common to proof-of-work blockchains. For more information, contact [email protected]. CONTACT: Bitcoin.com Exchange Contact: [email protected] Aspire Contact: Transform Group, [email protected] || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 2, 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.
For more information, visitwww.alt5sigma.com.
CONTACT:
Andre BeauchesneTel. [email protected]
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/608963/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || First Mover: Rookie YFI Token Jumped 8-Fold in August as DeFi Dominated: You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, 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 (BTC) was up 2.2% early Tuesday, starting off September on a strong note after an anemic performance last month. The dollar dropped to atwo-year lowagainst major trading partners’ currencies.
The largest cryptocurrency climbed 2.6% in August, underperforming the 25% gain notched by the second-biggest cryptocurrency, ether (ETH).
Related:Uniswap Rises to Top of DeFi Charts Thanks to Rival Looking to Unseat It
For a comparison with traditional markets, the Standard & Poor’s 500 climbed 7% during the month, thebest August since 1986. And gold, which garnered headlines when it pushed to a new record price above $2,000 an ounce, ended the month down 0.4%.
Bitcoin? Yawn. In August, the hottest returns for crypto traders came from the fast-expanding and oftenbrain-explodingrealm of decentralized finance, known as DeFi.
Among digital assets with a market capitalization of at least $1 billion, the just-released-last-month yearn.finance (YFI) token jumped eight-fold to claim the top spot. UMA (UMA), a trustless financial-contracts platform, rose five-fold, according to the data firm Messari.
Chainlink, an “oracle” protocol that provides price feeds for DeFi platforms, saw itsLINKtokens double during the month. Ether (ETH), the native token of the Ethereum blockchain, upon which most DeFi applications are built atop, surged 87% in August, leaving prices more than triple where they started the year.
Related:Yearn.Finance's New Vault Leverages DeFi 'Triforce': ETH, MakerDAO and Curve
Obscure Ethereum-oriented tokens are overtaking “competitors which dominated the leaderboard a few years ago,” the data firm Glassnodewrote Monday in a report. “The innovation network around DeFi means that there is a constant source of new and lucrative financial games to play, while Bitcoin has seen little growth in terms of its value proposition or ecosystem.”
John Willock, CEO of digital-asset liquidity firm Tritum, told CoinDesk’s Daniel Cawrey on Monday that “this looks like aperfect storm of high optimismfor these protocols and recent innovations introduced that are proving they have long-term value.” Thedecentralized exchange Uniswap boasted a trading volume of $560 millionon Sunday, exceeding that of the big cryptocurrency exchange Coinbase, Cawrey reported.
“There is no denying that DeFi is a thing,” said George Clayton, managing partner at Cryptanalysis Capital.
Some of the DeFi projects, with names like Yam and Spaghetti, might be dismissed as flukes or gimmicks if there weren’t so many millions, hundreds of millions or even billions of dollars flowing in and out of them.
In July, when the YFI token went live, Yearn.Finance’s creator, Andre Cronje, described it as “completely valueless.”
In the words ofCoinDesk’s Brady Dale in an article Monday: “DeFi has made a pivot to what might be called Weird DeFi: a set of difficult-to-parse projects whose larger value to the ecosystem is suspect at best and whose community is at least 20% driven by inside jokes.”
None other than BitMEX CEO Arthur Hayes acknowledged in a monthly newsletter on Aug. 27 that he was “yield-farming” – using DeFi projects to earn token rewards – since the local nightclubs are currently closed.
“WhileI deride many of these projects as activity resulting in economic waste, there is an underlying proto-banking infrastructure that is being built on the rails of Ethereum and other protocols,” Hayes wrote. “Crypto capital markets are the best place to earn serious positive yields if you are willing to take some modicum of risk.”
Hayes added that he fully expects to “lose most of all the money I ‘invest’ into any of these projects,” but that he views the “destruction” of his own capital as the “only way to learn.”
When he figures it out, maybe he can explain to everyone else why YFI octupled in August.
Bitcoin is closing on a breakout above $12,000 amid ether’s price rally to fresh two-year highs.
The top cryptocurrency’s options market shows increased demand for call options (bullish bets) at $12,000 strike. This signifies a more bullish move in the short-term, according to Matthew Dibb, co-founder of Stack, a provider of cryptocurrency trackers and index funds.
“From a macro level, the U.S. dollar has continued to fall since Jackson Hole, creating further buying pressure on bitcoin and broader safe haven commodities such as gold,” Dibb told CoinDesk in a WhatsApp chat.
Meanwhile, ether’s price rally looks to have legs as exchange deposits have declined to the lowest level since March, a sign of investors shifting to long-term holding strategies.
– Omkar Godbole
Ether (ETH):Price hitstwo-year highas exchange deposits decline, seen as a bullish sign.
Tezos (XTZ):Foundation and foundersagree to pay $25 millionto settle case over 2017 initial coin offering.
SushiSwap (SUSHI):Decentralized exchange aims to take liquidity from rival Uniswap by introducing atoken that entitles holders to a share of trading fees. The token is also getting a listing on Binance, the world’s biggest (centralized) cryptocurrency exchange.
Cardano (ADA):The Daedalus wallet upgrade sees staking and delegation improvements amongother enhancements.
BitMEX Launches Mobile Trading App in 140 Countries (CoinDesk)
Researcher unlocks secret of “Patoshi’s” $12.65B bitcoin hoard (CoinDesk)
Yearn, YAM and the Rise of Crypto’s ‘Weird DeFi’ Moment (CoinDesk)
Interest on stablecoin deposits could help offset dollar inflation (CoinDesk)
Vitalik Buterin says DeFi yield farming is unsustainable (Decrypt)
Five CoinMarketCap Executives Depart Binance-Owned Firm (CoinDesk)
U.S. Internal Revenue Service says crypto transactions down to $1 are taxable (CoinDesk)
Debt-strapped Seattle electrician, 29, makes thousands of dollars rolling dice on stock options in bankrupt Hertz (WSJ)
U.S. increases support for Taiwan, says to counter rising China pressure (Reuters)
South Korean regulators using artificial intelligence to detect illegal use of algorithmic trading in financial markets (Bloomberg News)
Global stocks dip but clinch fifth month of gains; dollar soft (Reuters)
India’s GDP shrinks 23.9% in worst quarter on record (Nikkei Asian Review); residents of the country are hocking their gold (WSJ).
• First Mover: Rookie YFI Token Jumped 8-Fold in August as DeFi Dominated
• First Mover: Rookie YFI Token Jumped 8-Fold in August as DeFi Dominated || First Mover: Bitcoin Steady as Trump Tweets and Neo Takes on Ethereum: Chinese tech companies were once seen as copycats of their Western peers: Alibaba was a knockoff of eBay and Baidu imitated Google. More recently, Chinese firms like TikTok and Huawei have established such dominant international positions that U.S. authorities have tried to hold them back.
Now, the technological arms race is playing out in the cryptocurrency industry, where one Chinese company is taking on Ethereum, the world’s second-largest blockchain, which U.S.-based developers have used to build semi-automated trading and lending networks under the rubric of decentralized finance, or DeFi.
Neo took aim at DeFi in late September with its launch of a new platform called Flamingo. Da Hongfei, a Neo co-founder, told CoinDesk in an interview the protocol will eventually provide users withfeaturesfound on popular Ethereum-based projects like Uniswap, Curve Finance, yearn.finance and Synthetix.
Related:BlueWallet Adds Privacy Feature 'PayJoin' for Bitcoin Transactions
Flamingo is not simply a product of “copy and paste,” the co-founder said in an interview. “It’s like rebuilding a parallel universe.”
– Muyao Shen
Read More:Amid US-China Tech War, Can Neo’s DeFi Stack Rival Ethereum’s?
Bitcoindefended the psychological support of $10,500 early Wednesday as Asian stocks shrugged off overnight weakness on Wall Street, reducing haven demand for the U.S. dollar.
Related:Market Wrap: Bitcoin Regains $10.6K; High-Balance Ether Addresses Decline
European stocks, too, are trading higher at press time alongside gains in the S&P 500 futures.
Risk sentiment, which weakened Tuesday following U.S. President Donald Trump’s decision to abort the fiscal stimulus negotiations, was restored earlier today after he reversed course and urged Congress to approve a series of coronavirus relief measures, including a new round of $1,200 stimulus checks.
That said, a large-scale stimulus is unlikely to come through any time soon. As such, both bitcoin and stocks may have a tough time scoring significant gains.
Indeed, minutes of the latest Federal Reserve meeting, due at 18:00 GMT, are expected to reiterate tolerance for high inflation. That dovish message, however, has already been priced in by markets.
For now, the cryptocurrency remains trapped in a narrowing price range. Contracting triangles usually end with violent moves on either side.
Growth in the new bitcoin addresses has recently picked up. According to blockchain analyst Cole Garner, that has bullish implications for price. However, according to Alex Melikhov, CEO and founder of Equilibrium & EOSDT stablecoin, the address growth has been fueled, at least in part, by the recent mass exodus of bitcoins from controversial crypto derivatives exchange BitMEX to other major exchanges like Kraken, Binance, and Gemini.
– Omkar Godbole
Read More:Analysts Can’t Agree What Prompted Big Spike in New Bitcoin Addresses
XRP (XRP):With Ripple executivesthreatening relocationfrom the U.S., volatility could be expected for the world’s fourth-largest crypto by market cap.
Uniswap (UNI):Uniswap’s big correction from Oct. 1 heights of $4.46 has some investors worried, but that hasn’t fazed users of the Ethereum-based walletMetaMaskas it registered 1 million active users per month hinting at continual growth in the DeFi sector.
South Korean cryptocurrency exchange KuCoin restarts deposits, withdrawals for bitcoin, ether following $281M hack (CoinDesk)
BitMEX case highlights balance between “being a disruptive financial services innovator” and regulatory compliance (CoinDesk Opinion)
OCC Comptroller Brooks says “criminals will take advantage of whatever system is at their disposal,” noting that the percentage of fraud or criminal activity involving cryptocurrency remains low compared with traditional banking system (WSJ)
Third quarter “felt in many ways like a watershed in crypto asset markets” (CoinDesk Research)
Silvergate Bank says SEN network getting added traffic from DeFi and surge in stablecoin usage (CoinDesk)
Survey reveals “scams, excessive hype and market manipulation” are seen as main obstacles to DeFi growth (Finder)
Survey by crypto insurance provider Evertas says 90% of institutional investors plan to invest more in cryptoassets like bitcoin over the next five years (Evertas)
Chicago-based bitcoin derivatives market Bitnomial raises $11.6M (CoinDesk)
New feature on browser-extension wallet MetaMask lets users swap tokens using DeFi exchanges like Uniswap, Kyber, Paraswap, 1inch.exchange and dex.ag (CoinDesk)
MIT wins ranking as top blockchain university for 2020, followed by Cornell, Berkeley, Stanford, Harvard, Columbia, Carnegie Mellon (CoinDesk):
A report by Swiss bank UBS found billionaires increased wealth by more than a quarter from April to July, as central-bank stimulus helped buoy markets (The Guardian)
U.S. President Donald Trump rejects possibility of further COVID-19 stimulus until after the elections (CNBC)
Federal Reserve Chairman Jerome Powell calls for Congress to do more by continuing aggressive economic and fiscal policy (CNBC)
U.S. trade deficit for August increases to $67B, highest in 14 years (CNN Business)
Australian shares rise as federal government discloses plan to run record budget deficit for 2021 fiscal year (Reuters)
• First Mover: Bitcoin Steady as Trump Tweets and Neo Takes on Ethereum
• First Mover: Bitcoin Steady as Trump Tweets and Neo Takes on Ethereum
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00
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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.
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[Technical Analysis for 2021-08-19]
BTC Price: 46717.58, BTC RSI: 63.66
Gold Price: 1780.20, Gold RSI: 47.63
Oil Price: 63.69, Oil RSI: 32.02
[Random Sample of News (last 60 days)]
Bitcoin to $250,000, plus secrets from a market wizard: Hello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through the current market and investing landscape. Here's what's on the docket: We spoke to Joseph Edwards, a former professional esports coach turned crypto researcher who called bitcoin's meteoric rise to $60,000 last year. He broke down his prediction that it could reach $250,000 by 2025 , and shared two altcoins that could surge 20 times over the next few years. Peter Brandt is a highly skilled trader profiled in Jack Schwager's book " Unknown Market Wizards ." Best known for averaging 58% annual returns over a 27-year period, he laid out how he identifies asymmetric opportunities and avoids performance-dragging trades . 30-year real-estate-investing veteran Deb Cleveland is a house flipper who owns 80 rentals. In an interview with Insider, she explained how she finds discounted properties, renovates on a budget, and sells for huge profits . If you aren't yet a subscriber to Insider Investing, you can sign up here. Have thoughts on the newsletter? Just want to talk markets? Feel free to drop me a line at [email protected] or on Twitter @JoeCiolli . Bitcoin's path to $250,000 by 2025 INA FASSBENDER/AFP via Getty Images Joseph Edwards is the head of research at Enigma Securities, a London-based crypto liquidity firm. He called bitcoin's meteoric rise to $60,000 last year and predicts it could reach $250,000 by 2025 . The ex-professional esports coach also shares two altcoins that could surge 20 times over the next few years. Read the full story here: The head of research at a crypto firm who called bitcoin's surge to $60,000 last year breaks down why it will reach $250,000 by 2025 - and shares 2 altcoins that could go up 20 times A market wizard explains how to find asymmetric opportunities Keystone-France/Gamma-Keystone via Getty Images Peter Brandt is a highly skilled trader profiled in Jack Schwager's book " Unknown Market Wizards ." Over the years, Brandt has grown from a technical analysis trader to a meticulous risk-taker. He broke down how he identifies asymmetric opportunities and avoids performance-dragging trades . Story continues Read the full story here: Unknown market wizard Peter Brandt averaged an annual compounded return of 58% over 27 years. The highly profitable trader breaks down how he finds asymmetric opportunities - and shares 2 rules to avoid 'popcorn trades.' How to master house flipping Deb Cleveland 30-year real-estate-investing veteran Deb Cleveland is a house flipper who owns 80 rentals. She got her first property for $62,000 with a five-year loan and sold it at $225,000 18 years later. Cleveland explained how she finds discounted properties, renovates on a budget, and sells for huge profits . Read the full story here: Deb Cleveland is a master house flipper who maintains 80 rental properties. The 30-year real-estate-investing veteran breaks down how she picks discounted houses to buy, renovate on a budget, and successfully sell or rent for huge profits. Stock pick central Seeking experts who are willing to name names? Look no further: Goldman Sachs says to buy these 38 stocks offering strong sales growth and margins - and are best-positioned within their industries to weather an economic slowdown Morgan Stanley says these 10 stocks are the firm's top selections right now in a group of picks that's doubled the S&P 500 over the last 3 years Top 12 meme stocks this week on Reddit: AMD and Tesla steal the show after blowout earnings reports while Square shakes up the fintech space with a bold acquisition Morningstar handpicks 10 bargain ETFs to buy now, even after inflows set a new record above $500 billion, topping 2020's breakneck pace of investment Goldman Sachs names 26 stocks with the solid balance sheets to continue beating the market as the Fed's tapering plans trigger chaos elsewhere UBS says to target stocks in these 5 industries that offer attractive risk-reward profiles as the broader market's near-term trend skews to the downside Read the original article on Business Insider || The Morning After: The next iPhone may focus on display upgrades: As summer comes to a close, for the tech launch calendar we’re getting intonew iPhone season. Before we even know, officially, what Apple will reveal, the question I’m always asked by friends, family and readers returns: Is it worth upgrading to the new iPhone?
I don’t know yet. Hah. The rumors, however, converge on hardware changes to the iPhone screen, which will probably arrive in the same sizes we saw on the iPhone 12 series. — something noted inBloomberg’s latest report.
We might get always-on screen tech, utilizing a battery-efficient 120Hz display that should look smooth, while offering information and notifications on a lock screen without having to wake the iPhone up. Otherwise, so far at least, we expecting refinements to software-based camera features, a (predictably) faster mobile chip and perhaps stronger MagSafe magnets to keep your peripherals locked on.
We’ll have to wait and see how much the rumors get right — will Apple call it the iPhone 13?
Before all that, however, it's Samsung's day in the spotlight. Its Galaxy Unpacked event kicks off later this morning. We'll be streaming the full event, with analysis right after it wraps. It all kicks off at 9:40AM ET — join us on YouTuberight here.
-Mat Smith
Xiaomi has today announced the CyberDog, an open-source quadruped robot intended for developers to “build upon” and create applications for. Xiaomi says that this technology is good enough to enable CyberDog to follow its owner and navigate around obstacles. It is also capable of identifying posture and tracking human faces, enabling it to pick out and track individuals in a group. The path to mainstream robotics is paved with ‘dogs’ and humanoids that didn’t quite work out and for now, rather than selling this as a general-sale product, the company will produce 1,000 Cyberdogs for “Xiaomi fans, engineers and robotics enthusiasts.”Continue reading.
AMC announced that it will accept Bitcoin as payment for tickets and snacks at all US theaters by the end of 2021. Company chief Adam Aron didn't say how you'd make those payments, but he did hint that AMC was also researching other ways it could join the "burgeoning cryptocurrency universe."Continue reading.
Google is streamlining its security key family. The search giant will now only offer two editions; one with USB-A and USB-C, both of which will pack NFC to enable it to be used by most mobile devices. That should reduce any confusion that would-be purchasers had with the current lineup, where some models didn’t work contactlessly.Continue reading
If it’s not robot dogs, it’s another smartphone. The Mi Mix 4 is Xiaomi’s slimmest ceramic unibody smartphone yet, with a 6.67-inch 2,400 x 1,080 screen that hides a 20-megapixel selfie camera underneath the glass. Notably, the patch that hides the camera has the same 400ppi density as the rest of the panel, albeit with smaller pixels and transparent circuitry. In-screen cameras usually offer sub-par photos and often stand out from the rest of the smartphone screen, due to reduced pixel density. Xiaomi might have solved that issue, but we’ll have to see it in person to confirm. It’s the dawn of hidden selfie cameras, and Xiaomi and Oppo are leading the pack.Continue reading.
The New York City Police Department has spent over $159 million on surveillance systems and maintenance since 2007 without public oversight, according to newly released documents. As reported byWired, The Legal Aid Society (LAS) and the Surveillance Technology Oversight Project (STOP) obtained the documents from the NYPD, which include contracts with vendors.
The NYPD made the purchases through a Special Expenses Fund, which meant it didn't need to gain the approval of the NYC Council or other city officials before signing the contracts.Continue reading.
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'The Green Knight' will be available to stream August 18th for one night only
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Facebook caught a marketing firm paying influencers to criticize COVID-19 vaccines || Are Online Businesses Ready to Start Accepting Dogecoin?: It wasn’t long ago that business purchases with a QR scan that transfers cryptocurrency from wallet to wallet sounded like science fiction. Today, it’s becoming a reality.
Consequently, more established businesses are now accepting cryptocurrencies such as Bitcoin and Ethereum as forms of payment. Dogecoin —a cryptocurrency that started out as a joke— is also starting to be considered as a form of payment.
More people began purchasing Dogecoin as all majorcryptocurrency paymentproviders included it in their services. With a rise in demand from consumers comes anincrease in interestfrom financiers and businesses. However, are online businesses ready to start accepting Dogecoin as a means of payment?
There are currentlyover 1,300 merchants accepting Dogecoinpayments as of the end of May 2021, and that number keeps going up.
There are three primary factors motivating the move:
• High Liquidity.Unlike many other deflationary cryptocurrencies, there’s no limit to the number of Dogecoins that can be created. This makes the asset inflationary, leaving room for an infinite supply. That’s likely to affect its value over time, but a solution is already in the works.
• Fixed Number of Issued Tokens.A fixed number of coins are issued each year to keep Dogecoin’s value rising. The number of new coins introduced every year is smaller than the number of coins already on the market.
• Faster Transaction Speed.Dogecoin transactions areten times faster than Bitcoindue to one-minute block intervals.
With over 1,000 companies across a wide range of niches accepting Dogecoin as a form of payment, there’s no doubt that businesses are finding ways to adapt to the new payment model. Ever since BitPay — the leadingcrypto paymentprocessing service for merchants — welcomed Dogecoin on March 4, 2021, more companies have started following their lead.
In fact, due to a recent increase in demand on behalf of businesses,CoinFlip announcedthat Dogecoin owners can now buy the asset in cash at more than 1,800 locations. CoinFlip currently operates the most prominent Bitcoin ATM network in the U.S.
No less responsible for the rise in demand of Dogecoin is the attention given to the asset by some of the world’s most influential entrepreneurs, including Elon Musk and Mark Cuban. Thanks to these two billionaires, Dogecoin’s popularity skyrocketed this year. Musk tweeted about taking “Doge to the moon” and revealed that he’s pairing with Dogecoin developers to make the crypto more efficient. This announcement resulted in a20%jump in a single day.
Today, many third-party vendors offerwalletexchange services to businesses that wouldn’t normally have the resources to get involved with crypto wallets. These services make it easier for those lacking their own wallet to become more accommodating to a broader audience.
Hardly any sector of online business remains unaffected when it comes to the practice of accepting Dogecoin (DOGE) as a method of payment. Listed below are 15 high-profile companies that accept DOGE now or will begin doing so in the near future.
As an early adopter of cryptocurrency, the Dallas Mavericks are the first NBA team to incorporate Dogecoin into their payment system. Mavs fans can now purchase game tickets and merchandise using the crypto asset online. Owned by Mark Cuban, the company had previously been using BitPay to process purchases in various cryptocurrencies — including BTC, ETH, BCH, GUSD, and others — with DOGE now joining the list. Cuban tweeted that as long as companies accept DOGE, it can become a usable currency with the potential of having a higher purchasing value than one dollar.
In mid-April 2021, Kronos Advanced Technologies Inc. started trading higher after announcing that the company hadexchanged its First Bitcoin(not related to Bitcoin) holdings for Dogecoin Cash. The air-purification tech company now has approximately 600 million in Dogecoin Cash and will begin using it as a method of payment.
The luxury hotel group Kessler Collection recently adopted DOGE as a payment option by pairing up with BitPay. The company thus became the first U.S. luxury hotel chain to accept crypto payments. CEO Richard Kessler stated that the acceptance of cryptocurrencies represent “one of the most innovative concepts in the hospitality industry right now.” Kessler believes that “cryptocurrency is only going to gain acceptance, and partnering with BitPay allows us to offer more choices in the payment process.” He further demonstrated that DOGE is worthwhile by including it among Bitcoin, Ethereum, and several others.
BOTS, Inc. offers services in the digital robotics manufacturing industry and is among the first publicly traded businesses to add DOGE as a payment method. Users can now purchase all of their products and services with DOGE, Bitcoin, Ethereum, and Litecoin.
AirBaltic was the first airline to make the DOGE-friendly companies list. However, this was not a huge surprise as the company has been open to accepting cryptocurrency payments since 2014 when it began accepting BTC. Latvia’s airline carrier doesn’t store Dogecoins but instead converts them to euros during the payment process.
EasyDNS is a Canadian internet service provider known for its superior services and innovation. As of April 16, 2021, the company climbed the innovation ladder even higher by accepting DOGE payments. EasyDNS was the first ICANN registrar to accept Bitcoin, Ethereum, and Litecoin, and now DOGE. Canadians starting their online business can now get a domain name, DNS, web hosting, and email server, paying for all of it in DOGE.
Post Oak Motor Cars is a luxury car dealership and repair service company operating on the Gulf Coast. Thanks to a recent update in their payment method system, customers can now purchase Bentleys, Bugattis, and Rolls-Royce vehicles using DOGE. Post Oak Motor Cars is the lone authorized Bentley dealership in Houston.
Newegg is one of the latest e-retailers to announce its acceptance of DOGE as a method of payment. The company did so to celebrateDogeday on April 20. Newegg was also the first major online business to accept Bitcoin back in 2014. This online business sells tech products, including computers, laptops, TVs, small kitchen appliances, cell phones, car electronics, gaming equipment, toys, and more. Similar to the other businesses that made this list, Newegg partnered up with BitPay. Their customers can now pay with DOGE by simply clicking “Edit” in the payment section and selecting BitPay.
SpaceX plans on launching “DOGE-1 Mission to the Moon” in 2022 and has already begun accepting payments in DOGE for mission funding. The SpaceX flight will be the first satellite to go on a space mission funded solely with digital currency. The company says this first-of-its-kind mission will show the cryptocurrency application beyond the Earth’s orbit and pave the road for interplanetary commerce.
Estate Diamond Jewelry is a fairly recent addition to the list of companies accepting DOGE as a payment method. This jewelry house is also one of the first of its kind to accept high-ticket payments using DOGE. Estate has some of the highest-quality Art Deco, Victorian, and Edwardian jewelry. Jewelry lovers can also shop for high-end vintage rings, earrings, wedding bands, and cocktail rings, paying for all of their purchases with DOGE.
Energy Electronics is one of the most authoritative mobile solution distributors in the U.S. and one of the first in its niche toannounce DOGE as an accepted method of payment. “We believe that cryptocurrency, especially Bitcoin and Dogecoin, are here to stay. We like to stay ahead of the curve and accepting crypto is an obvious move,” said Yisroel Teitelbaum, president of Energy Electronics. The company is among the leading sources for corporate logistic solutions across the country, helping businesses streamline operations and improve efficiency since 2014.
NOWPayments is among the first companies dealing with cryptocurrency payments to accept DOGE. The company offers easy cryptocurrency platform integrations for online businesses, allowing instant withdrawals and an auto coin conversion service.
CoinPayments has become one of the industry’s leading cryptocurrency processing companies. This platform helps businesses integrate crypto payments into their Shopify, WooCommerce, and other major e-commerce platforms. There is currently a 0.05% fee, one of the lowest in the marketplace. Adding DOGE to its list of cryptocurrencies means all businesses using their services can now also start accepting payments in DOGE.
Web hosting provider Snel is flexible with its methods of payment and uses CoinPayments and BitPay as payment gateways, both of which now operate with DOGE. The company has announced cryptocurrency plans for businesses of all sizes.
UK-based web hosting company HostMeNow has started accepting DOGE as a payment method in addition to Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies.
There are several ways for small businesses to begin accepting DOGE as a cryptocurrency. However, the process may be slow and not as straightforward as implementing more traditional payment options. But it may well be worth the hassle, judging by the whopping increase in value this year. Not only that, businesses that adapt to cryptocurrency increase the pool of customers with whom they can make quick sales.
DOGE has a few obvious benefits for small businesses as compared toBitcoin:
• Bitcoin is more of a store value. Dogecoin is better geared for day-to-day transactions due to its unlimited supply and inflationary nature.
• Bitcoin’s transaction times are up to ten times slower compared to that of DOGE.
• DOGE carries lower transaction fees.
For small businesses looking to accept DOGE, the two main options are 1) creating a wallet or 2) using third-party services to process transactions.
The most secure and straightforward method for businesses to start accepting DOGE is by having customers pay them in Dogecoins directly. Business owners can get started at the official Dogecoin website. The process involves the following steps:
1. Choosing a wallet for holding Dogecoins.
2. Configuring the wallet.
3. Getting Dogecoin.
There are two types ofdigital walletsto choose from — MultiDoge, a light wallet, and Dogecoin Core, more suitable for miners. First, business owners set up the app on their computers. Then, they will be asked to name the wallet. Additionally, they will also have the option of giving the wallet address to customers and asking them to send Dogecoins directly to the wallet. Brick-and-mortar store owners can set up a QR code containing all important product information that customers who use the Dogecoin app can scan and transfer the data to the app.
BitPay is the leading cryptocurrency payment service provider. Using BitPay, merchants worldwide can sell their products and services online using various cryptocurrencies. Recently, the company started accepting Dogecoins next to Bitcoin, Bitcoin Cash, Ethereum, and Wrapped Bitcoin.
The main advantage of BitPay is that business owners are not obliged to create crypto wallets. Nevertheless, they can accept the assets without buying or owning them. When a customer pays for a service in DOGE, BitPay converts it to USD or the local business currency. The business then receives the balance in its bank account through ACH.
The BitPay wallet app is available in the App Store and Google Play for merchants who want to accept DOGE and other cryptocurrencies. Then, business owners can also sign up for service through the app.
Companies such as NOWPayments and CoinPayments offer services similar to those of BitPay, allowing small businesses to incorporatecryptocurrenciesinto their payment systems.
Prodoge is another platform that allows businesses to send and receive Bitcoin, Dogecoin, DigiByte, and Ethereum cryptocurrencies by maintaining a USD coin wallet. Small business owners can use this software to sell items, send invoices and payment links, and more.
WordPress website owners can use open-source plugins such as Nomiddleman Crypto that accepts all major cryptocurrencies, including DOGE. The plugin is free to use. It has automatic payment processing, a real-time crypto valuation, and a fully automated customer QR code feature.
The more Dogecoin people acquire, the more they’ll want to spend it on various purchases. For Dogecoin to be accepted as a means of payment, innovative businesses will need to lead the way making cryptocurrency a regular feature ofonline commerce.
As always, opinions are still divided on the scalability of DOGE. And, more and more companies seem to be willing to place their bets on it becoming a leading method of payment. The questionable scalability and overall instability of the crypto market make the whole process a bit slower. However, the wheels are turning steadily. It’s now apparent that online businesses are ready to accept DOGE but only time will reveal the success of this “joke” currency.
The postAre Online Businesses Ready to Start Accepting Dogecoin?appeared first onDue. || Marathon Digital’s Latest Update Suggests Uptick in U.S. BTC Mining: One of North America’s largest enterprise bitcoin (BTC) self-mining operations produced 265.6 new minted bitcoins last month, a company update revealed.
Marathon Digital, based in Montana, published a production and miner installation update for June 2021, which showed considerable progression in BTC production from, not just May, but across the year so far.
A companypress releaserevealed that Marathon’s mining fleet has produced around 846 newly minted bitcoins in 2021 so far. 265.6 of those were produced in June, showing light growth from the 226.6 produced in May, and a stark increase from the 50.4 produced in January. Last month’s production brings Marathon’s total BTC holding up to approximately 5,784. This includes the 4,812 the company purchased at the start of the year.
In addition, Marathon reported that they had completed construction on the containers where they intend to base more than half of their mining rigs. These containers will be situated at their facility in Hardin, MT. With new miners installed on a daily basis, Marathon added a further 1,740 miners to its approximately 17,655-strong fleet.
According to the release, the company expects to upscale its operation across July, August, and September; installing another 12,000 miners in the course of those three months. After that, its remaining 73,000 miners are bound for a new, 300 megawatt facility based in Texas.
These results, and Marathon Digital’s ambitions, arguably suggest an uptick in mining rewards for U.S.-based operations. An uptick that has come about amid the ongoing ban on crypto mining in China, which forced many miners to ship their rigs overseas. The U.S. has proven a popular destination, with many displaced miners moving their operationsto Texas.
The ban in China has also resulted in a continuing downtrend in the BTC mining hash rate. A decline that U.S. mining companies could move to capitalize on.
Reported on July 3 as thebiggest downward adjustment in history, BTC’s mining difficulty recently plummeted 28%. According to reports, this decline leaves the hash rate at its lowest point for 19 months.
The environmental impact of crypto mining, specifically BTC, has been a subject of ongoing debate this year, amid the China ban. Some countries have followed suit with China at various points, such as Iran.
However, others have come out in support of BTC. Most recently, Cynthia Lummis, currently the U.S. Senator from Wyoming.Appearing on CNBC’s Financial Advisor Summit, she cited research from the University of Cambridge that suggested that BTC mining uses around 40% renewable energy. Whereas, “…in the non-bitcoin economy, it’s only 12%”
She went on to say:
“There’s a lot of innovation that’s happening behind the scenes. So I would say, don’t judge bitcoin mining as an energy bad guy. There are a lot of things going on that prove otherwise.”
Senator Lummis later took to Twitterto encourage minersto set up their operations in Wyoming.
CEOs such as Valkyrie Investments’ Leah Wald have also commented on the effects of the China ban on crypto mining.Appearing on Bloomberg Technology, Wald discussed mining rigs relocating to the U.S., saying:
“The question is, how will [the relocation] affect price when they get turned back online? When they’re in a new location? […] I think that will be a very positive decision.” || Investment Service Firm Wealthfront now offering BTC and ETH Exposure: BeInCrypto – Automated investment service firm Wealthfront Inc. has announced it will be adding bitcoin and ethereum trusts through Grayscale. Wealthfront has announced that the company has expanded its current investment portfolio to include Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). The automated investment service firm currently manages over $25 billion in assets. The company now becomes the first of its kind to offer exposure to cryptocurrency services as part of a diversified portfolio. The company includes automated features such as tax-sensitive rebalancing, intelligent dividend reinvestment and tax-loss harvesting. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || 10 Stocks Elon Musk Has Put in the Spotlight — Are They Worth Your Investment?: Kathy Hutchins / Shutterstock.com Elon Musk, the outspoken CEO and co-founder of Tesla, is nothing if not newsworthy . Musk is fond of making grand and oftentimes cryptic statements both in the financial press and particularly on Twitter. He has such a large and devoted following that even one-word tweets are often enough to trigger big moves in certain stocks or cryptocurrencies. Find Out: Just How Rich Are Elon Musk, Donald Trump and These Other Big Names? Learn: 20 Genius Things Mark Cuban Says To Do With Your Money Sometimes, it’s hard to know whether Musk is just stirring up controversy or actually endorsing certain investments when he makes his comments. However, here’s a list of stocks and cryptocurrencies that Musk has helped put on the map, either by utilizing their products or by making pronouncements about them on Twitter . Last updated: June 21, 2021 Tesla (TSLA) Stock price as of June 15: $599.36 Any list of stocks that Elon Musk has put in the spotlight has to start with the company he is most associated with, electric vehicle maker Tesla. One of Musk’s most noteworthy tweets was that Tesla had “funding secured” to take the company private at $420 per share, back when the stock was trading in the mid-$330s. That triggered a $20 million fine both for Tesla the company and for Musk personally from the SEC. Equally controversial was Musk’s May 1, 2020, tweet in which he stated that Tesla’s shares were priced “too high.” Yet, just a few months later, in September 2020, Musk acknowledged that the stock price was high but still felt it would be higher five years down the road. News: Elon Musk Asks: Should Tesla Accept Dogecoin? Read: This Is When Tesla Will Resume Accepting Bitcoin San Jose, USA - October 15, 2015: PayPal headquarters located at 2221 N. PayPal (PYPL) Stock price as of June 15: $271.89 PayPal is a well-known payments processing company with a market cap of over $319 billion, but it can trace its roots back to X.com, an FDIC-insured online bank co-founded in the late 1990s by none other than Elon Musk. When eBay acquired PayPal in October 2002 for $1.5 billion, Musk himself netted about $180 million. Although Musk no longer has formal ties to PayPal, he’s certainly still nostalgic about his early days with the company. In July 2017, Musk bought back his original “X.com” website domain from PayPal. Story continues Check Out: Elon Musk’s Essential Tips for Aspiring Entrepreneurs Tesla store Altimeter Growth Corp. (AGC) Stock price as of June 15: $11.55 There’s no better sign of support for a company than where someone puts their money. AGC is a glass manufacturer that Musk uses to supply Tesla’s vehicle fleet with windshields. With no shortage of windshield manufacturers in the world, Tesla’s selection of AGC as its provider is a clear endorsement of the company’s products. Of course, Tesla isn’t alone. AGC is the leading automotive glass supplier in the world, with 1 in 4 cars having AGC glass. Discover: Elon Musk’s Biggest Bets That Paid Off electric car battery Modine Manufacturing (MOD) Stock price as of June 15: $16.83 Modine Manufacturing has been producing thermal management and heat transfer products since 1916. Elon Musk and Tesla have been using Modine as the supplier of battery cooling units for the Model S for years. Radio host and provider of advisory services Hilary Kramer noted that companies like Modine are critical to lithium battery users like Tesla because they provide “refrigeration systems that keep all that lithium from exploding.” Read: 10 Major Companies That Accept Bitcoin See: What Is the Next Big Cryptocurrency To Explode in 2021? Businessman checking the mobile phone sitting on his desk, colleagues working in the background. Signal (Privately Held) Stock price as of June 15: N/A Signal is a privately held messaging app company that made news when Elon Musk tweeted to “Use Signal” on Jan. 7, 2021. Speculative investors, eager to immediately capitalize on any of Musk’s tweets, began to pile into the publicly traded shares of a company known as Signal Advance. That stampede sent shares of Signal Advance up an astonishing 5,100% in just three trading days. Things got so out of hand that the company’s CEO, Dr. Chris Hymel, had to issue a public statement, stating, "We strongly recommend people do their due diligence and always invest with care." Hymel also added that "Signal Advance doesn't have an association with Musk or the Signal app." Check Out: How To Make Money Off the YOLO Market Boom Etsy marketplace sign Etsy (ETSY) Stock price as of June 15: $166.06 Elon Musk doesn’t use Etsy to supply Tesla, but he’s clearly a fan of the company. On Jan. 26, 2021, Musk moved markets once again when he tweeted, “I kinda love Etsy.” That simple tweet was enough to push shares up 8% almost instantaneously, although it later reversed course and fell 2.1% on the day. And what was it about Etsy that Musk loved so much that he issued his market-moving tweet? As he later clarified, “Bought a hand knit wool Marvin the Martian helm for my dog.” The sharp moves higher and lower on the day reflect the amount of speculative trading that surrounds Musk’s Twitter account. More: 5 Brands to Invest In, According to TikTok Starlink (Privately Held) Stock price as of June 15: N/A Starlink isn’t yet a publicly traded company, and there’s a chance it never becomes one. However, it’s one of the hottest properties in the Elon Musk portfolio, and it’s certain to continue generating headlines for years to come. Starlink is the constellation of satellites that Musk’s SpaceX has been launching into low-Earth orbit to provide broadband internet service to the world. Musk has indicated that it is his intention to bring Starlink public someday, but only after its revenue stream becomes smoother and more predictable. There’s little doubt that there will be plenty of hype before that day actually becomes a reality. See: Why It’s Never a Bad Idea To Invest In Apple and These Other Companies professional video gamer CD Projekt (OTGLY) Stock price as of June 15: $13.88 Shares of software developer CD Projekt surged in early January 2021 after Musk tweeted out support for one of the company’s games. When talking about the new Tesla Plaid Model S sedan, Musk tweeted that “It can play CyberPunk,” one of CD Projekt’s games. Musk went on to say, “The esthetics of Cyberpunk are incredible btw.” With these simple tweets, shares of CD Projekt took off, climbing over 12% in a single afternoon. Learn: Reasons These 10 Hot Stocks Might Not Survive 2021 Manhattan, New York. GameStop Corp. (GME) Stock price as of June 15: $222.50 GameStop has been one of the famous “meme” or “YOLO” stocks of 2020-21, with a 52-week high of $483 vs. a 52-week low of just over $3. While the so-called “Reddit mob” of message board users has been directly responsible for driving the stock to stratospheric levels, Musk himself has been able to spike the stock with just a single word. On Jan. 26, 2021, Musk tweeted out “Gamestonk!!” along with a link to the Reddit message board Wallstreetbets. After that tweet, which was sent out after the market closed, the stock tacked on more than 60% in after-hours trading, on top of its 92% gains earlier in the day. More: 13 Toxic Investments You Should Avoid Cryptocurrency bitcoin business. Bitcoin Cryptocurrency price as of June 15: $39,962.83 In 2020 and 2021, much of the attention surrounding Musk’s Twitter account has surrounded cryptocurrency Bitcoin. In late January 2021, Bitcoin spiked over 20% when Musk added “#bitcoin” to his Twitter profile. In early February, Tesla bought $1.5 billion in Bitcoin and announced it would accept it as payment. This pushed Bitcoin up to what was a new all-time high at the time, of $44,200. However, on June 4, Musk tweeted a broken heart emoji and suggested that his love affair with Bitcoin was over. In response, the cryptocurrency fell a few percentage points. Tesla also reversed its plan to accept Bitcoin as payment in May 2021, sending the price of the cryptocurrency back down by a few thousand dollars. Musk made headlines once again in June 2021 when he tweeted that Tesla would resume accepting Bitcoin as payment once miners use more clean energy, pushing the cryptocurrency up by more than 7%. All of these seemingly contradictory tweets only add to the volatility of the already wildly fluctuating Bitcoin price. More From GOBankingRates Follow Along With 31 Days of Living Richer Read About the Best Small Businesses in Your State What It Means To Live a Truly Rich Life and How To Achieve It Big Personal Goals That You Should Put Your Money Toward Photo Disclaimer: Please note photos are for representational purposes only. This article originally appeared on GOBankingRates.com : 10 Stocks Elon Musk Has Put in the Spotlight — Are They Worth Your Investment? || Market Wrap: Sentiment Away From Risk Sends Bitcoin Toward $30K: Bitcoin traded lower on Monday, mirroring declines in traditional markets as investors pull away from risky assets because of concerns about weaker monetary and fiscal stimulus and rising COVID-19 cases, including those caused by theDelta variant.
Bitcoin was trading at around $30,600 at press time and is down about 3% over the past 24 hours. The world’s largest cryptocurrency is up about 4% year to date, compared with a roughly 12% return for the S&P 500 Index.
Cryptocurrencies:
• Bitcoin(BTC) $30755.8, -2.78%
• Ether(ETH) $1825.6, -3.96%
Related:Europe and UK Binance Users React to Recent Restrictions Placed on Exchange
Traditional markets:
• S&P 500: 4258.7, -1.58%
• Gold: $1811, -0.05%
• 10-year Treasury yield closed at 1.2%, compared with 1.294% on Friday
Regulatory scrutiny regarding stablecoins is also weighing on cryptocurrencies. The People’s Bank of China (PBOC) issued a white paper on Friday outlining initial research for the nation’s digital currency project, which appears to challenge existing cryptocurrencies and stablecoins.
“Cryptocurrencies are mostly speculative instruments, and therefore pose potential risks to financial security and social stability,” the PBOC’swhite paperstated.
“Some commercial institutions even plan to launch global stablecoins, which will bring three risks and challenges to the international monetary system, payment and clearing system, monetary policies, cross-border capital flow management, etc.,” the report said.
Related:Ether Falls Toward $1.7K as Bitcoin’s Price Drop Weighs on Broader Market
Another source of selling pressure across risk assets could be the reduction of government stimulus. “Too much stimulus breeds complacency,”MRB Partnerswrote in a research note published on Friday.
MRB also noted widespread asset price inflation, which can lead to market imbalances similar to an episode in Japan in the 1980s that preceded adecadeof low investment returns.
The chart below shows bitcoin’s current range, which is similar to the sideways pattern of between $5,900 and $7,400 in 2018. The previous range, although more volatile than the current pattern, preceded a nearly 45% sell-off, which extended the bear market until prices recovered in mid-2019.
A decline was also seen in ether (ETH) below the $400 price level in 2018, similar to the drop to below $2,000 last week.
Bitcoin’s near-term volatility is starting to rise after declining from peak levels in June. Some analysts expect selling pressure could increase, causing bitcoin to break below $30,000 support.
“Front-end vols have been hit the hardest, creating a very steep volatility term structure,”QCP Capitalwrote in a Telegram chat. “It makes sense to roll short July positions to September given the significant dip in front-end vols.”
“Front-end vols” refers to “short-term volatility.”
“Bitcoin volatility has started to spike up and is trading close to 80% for July expiry,” Pankaj Balani, CEO ofDelta Exchange, wrote in an email to CoinDesk. “We can see sharp moves on the downside if BTC breaks below $30,000 convincingly.”
Balani also noted that options sellers have become more aggressive as bitcoin trades in a tight range. There has been more put writing at $30,000 and $32,000 strikes on the downside, he said.
Digital-asset funds have attracted capital over the past two weeks, albeit at a slower pace as investors remain cautious after the crypto crash in May. It appears that investors are warming up toether, which saw a third consecutive week of inflows, totaling $11.7 million, according to areportby CoinShares.
As the President’s Working Group on Financial Marketsdiscussesstablecoins at a meeting today, debates about how stablecoins should be regulated heated up. CoinDesk Columnist JP Koningwrotethat regulators may have contributed to the fast growth of stablecoin supply because of their failure to close the “pseudonymity loophole” in such financial products earlier.
In an academic paper titled “Taming Wildcat Stablecoins” released Saturday, Yale economist Gary Gorton and U.S. Federal Reserve attorney Jeffery Zhang said that without proper regulation, the world of stablecoins couldevolveinto one reminiscent of the19th century’sfree banking period in the U.S.
It is not the first time for the analogy to be used, and Nic Carter, another CoinDesk columnistexplainedwhy.
• Polygon Launches New Unit:Polygon haslaunchedPolygon Studios, a unit that aims to advance blockchain gaming and non-fungible tokens (NFTs). The unit will help “bridge the gap between Web 2 and Web 3 gaming,” according to Polygon. The division will look to attract big brands and franchises looking to launch games and NFTs.
• Grayscale Unveils DeFi Fund:Grayscale, the largest cryptocurrency investment manager, said Monday it hasstarteda fund focused on decentralized finance (DeFi) tokens, based on a new DeFi-specific index produced by CoinDesk’s TradeBlock division. The companies, both subsidiaries of CoinDesk parent Digital Currency Group (DCG), wrote in a joint press release the Grayscale DeFi Fund provides “exposure to a selection of industry-leading DeFi protocols through a market-capitalization weighted portfolio.”
• ARK Investment Increases Square Holdings:ARK Investment Management increased its holdings of payments services firm Square after Jack Dorsey, Square’s founder, announced Friday the company is creating an “open developer platform.” Following the announcement, Cathie Wood’s New York-based ARK Investment purchased a total of 225,937 shares of Square, according to itsdaily holding files.
• El Salvador May Issue Its Own Stablecoin: Report
• Ethereum Co-Founder Anthony Di Iorio to Sell Decentral and Cut Major Ties to Cryptocurrency
• ASX’s Blockchain Upgrade Costing Members ‘Millions,’ Says Industry Body
All digital assets on CoinDesk 20 ended up lower on Monday.
Notable losers:
the graph(GRT) -8.56%
polkadot(DOT) -7.98%
aave(AAVE) -7.12%
• Bitcoin Struggles Below $30K; Next Support at $27K
• Bitcoin Drops Below $30K for First Time in 4 Weeks || Digihost Announces a 34% Increase in Month Over Month Bitcoin Production and Provides Mining Operation Results for July: TORONTO, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF), an innovative North American based Bitcoin self-mining company, is pleased to provide unaudited Bitcoin (“BTC”) production updates for July 2021. All amounts are expressed in USD unless otherwise indicated.
Corporate Highlights for July 31, 2021:
• Produced 51.28 BTC during the month, increasing total holdings to 402.1 BTC representing a fair market value of approximately $16.7 million as at July 31, 2021.
• Total Ethereum (“ETH”) holdings of 563.89 ETH representing a fair market value of approximately $1.4 million as at July 31, 2021.
• Total digital asset inventory value consisting of BTC and ETH of approximately $18.1 million at the end of July.
• Cash on hand at July 31st was approximately $18.8 million, and total cash and digital asset holdings was approximately $36.9 million.
• Year-to-date investment in infrastructure pertaining to core business operations of approximately $23.5 million.
Bitcoin Mining Update
For the seven-month period ended July 31, 2021, the Company’s mining fleet produced 266.51 BTC, with production broken down as follows:
• Quarter 1, 2021: 105.26 BTCJanuary: 33.70February: 35.02March: 36.54
• Quarter 2, 2021: 109.97 BTCApril: 37.52May: 34.26June: 38.19
• Quarter 3, 2021: 51.28 BTCJuly: 51.28
Month-Over-Month Comparison
In comparison to June 2021, the Company mined an additional 13.09 BTC during July 2021, representing an increase of 34%. Based on July 31, 2021 BTC prices in comparison to the prior month (based on June 30, 2021 BTC prices), the fair market value of the Company’s BTC mined increased by approximately $796k month over month.
Figure 1. Month-over-month BTC Mininghttps://www.globenewswire.com/NewsRoom/AttachmentNg/0f2fe03e-6935-4194-b030-cd290f2b781c
Year-Over-Year Monthly Comparison
Compared to July of 2020, the Company mined approximately 38.18 more BTC in July of 2021, representing an increase of 291%. Based on July 31, 2021 BTC prices compared to July 31, 2020 and the increase in production of BTC mined, the fair market value of the Company’s BTC mined in July 2021 increased by approximately $2.0 million.
Figure 2. Year-over-year BTC Mininghttps://www.globenewswire.com/NewsRoom/AttachmentNg/16d97ff5-6bc2-4b17-a2f2-710bc4268087
Management Commentary
Michel Amar, the Company’s CEO, stated: “We are extremely pleased by the tremendous growth in our mining operations, illustrated by the substantial increase in bitcoins mined on both a month-over-month and year-over-year perspective. The fact that these bitcoins are being mined from an operational hub in which over 90% of the energy consumed is from zero carbon emission sources and more than 50% of the energy consumed is generated from renewable sources is a great source of pride for the Company, as we strive to maintain our focus on being an industry leading ESG company and on achieving the objectives of our DigiGreen initiative. We are steadfast in our intent to be an ESG leader in the cryptocurrency mining space and in continuing being one of the cleanest green bitcoin mining operations in the United States.”
About Digihost Technology Inc.
Digihost Technology Inc. is a growth-oriented blockchain technology company primarily focused on Bitcoin mining. The Company is currently hashing at a rate of 200PH with plans to expand to a hashrate of 3.6 EH by the end of the first half of 2022.
For further information, please contact:
Digihost Technology Inc.www.digihost.caMichel Amar, Chief Executive OfficerT: 1-818-280-9758Email:[email protected]
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Except for the statements of historical fact, this news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that is based on expectations, estimates and projections as at the date of this news release. Forward-looking information in this news release includes information about hashrate expansion, diversification of operations, potential further improvements to profitability and efficiency across mining operations, potential for the Company’s long-term growth, and the business goals and objectives of the Company. Factors that could cause actual results, performance or achievements to differ materially from those described in such forward-looking information include, but are not limited to: continued effects of the COVID19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from operating its assets; the ability to establish new facilities for the purpose of research & development; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; delivery of mining rigs for hosting may not be realized in the number anticipated, or at all, and resulting hashing power may materially differ from that anticipated; further improvements to profitability and efficiency may not be realized; the digital currency market; the Company’s ability to successfully mine digital currency on the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about: the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies on the cloud will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. || VanEck Files Prospectus for a New Bitcoin Futures Mutual Fund: Investment firm VanEck filed a new draft prospectus for a bitcoin futures mutual fund with the U.S. Securities and Exchange Commission (SEC) on Monday. According to the prospectus, the Bitcoin Strategy Fund will invest in bitcoin futures contracts as well as pooled investment vehicles and exchange-traded products (ETPs) with exposure to bitcoin. However, the fund will not invest in bitcoin or other digital assets directly. The fund will invest in bitcoin futures through a subsidiary in the Cayman Islands and the portfolio will be managed by Gregory Krenzer. The funds fee structure was left blank in the document. Meanwhile, VanEck has a proposed bitcoin exchange-traded fund (ETF) under review in the U.S. Earlier this month, the SEC delayed passing judgment on the VanEck Bitcoin Trust for a second time. In Europe, VanEck launched a thematic ETF last month offering exposure to companies in the cryptocurrency and blockchain industry. The vehicle is meant to rival a similar offering from asset manager Bitwise. Related Stories SEC Again Delays VanEck Bitcoin ETF Decision Bitcoin Fund Outflows Slow but Investors Start Exiting Ether Funds One River Digital Asset Management Sees Rise in Institutional Demand for Green Bitcoin Crypto Exchange FTX Launches Perpetual Futures Contracts on VanEcks MVIS Indices || Abkhazia to Punish Public Officials for Illegal Crypto Mining: Report: Officials are secretly, and illegally, mining bitcoin in Abkhazia, the country that broke away from Georgia in 1999 and has been recognized as an independent state by only a handful nations, the country’s president said. During a meeting with his cabinet, Aslan Bzhania, elected in 2020, said he has been aware of covert cryptocurrency mining by some civil servants, local news outlet Apsadgil.info reported . “Among those who own those [mining] devices are representatives of government bodies, per preliminary data,” Bzhania said. “We need to investigate this very thoroughly and get rid of such people.” Related: BIT Mining Raises $50M in Private Placement to Expand Overseas Abkhazia’s authorities have been trying to stop illegal mining for a while but little has been achieved, he said, hinting the task might have been sabotaged from within the government. “Every one of you can keep playing your game, but let’s see who wins. District and town majors, you should make your own decisions and, whenever you find a mining farm, fire or reprimand the head of that village,” Bzhania said. Read more: Abkhazia Bans Bitcoin Mining Shortly After Legalizing It He asked Prime Minister Alexander Ankvab and presidential Chief of Staff Alkhas Kvitsinia to identify local officials who have allowed crypto mining and suggest a punishment for each, including firing them. Related: Chinese Miner The9 Reserves Facilities From Russia’s BitRiver Earlier this year, Abkhazia deemed all cryptocurrency mining illegal because of chronic electricity shortages in the country. Abkhazians have been experiencing routine blackouts in recent years. Electricity, however, is very cheap, and cryptocurrency mining has been thriving . Related Stories Why Crypto Miners Are Expanding Beyond Quebec Mawson Infrastructure Increases Ownership of Luna Squares to 90%
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-10-21]
BTC Price: 632.83, BTC RSI: 59.17
Gold Price: 1265.90, Gold RSI: 38.56
Oil Price: 50.85, Oil RSI: 60.72
[Random Sample of News (last 60 days)]
Bank of England aims to revamp interbank payment system by 2020: LONDON (Reuters) - The Bank of England said on Friday it aimed to revamp the system that underpins British banking and trading in the City of London by 2020 to boost its defences against cyber-attacks and widen the number of businesses that can use it. The BoE's Real-Time Gross Settlement (RTGS) handles transactions worth around 500 billion pounds a day - equivalent to almost a third of Britain's annual economic output. It suffered a major outage in October 2014, and in June BoE Governor Mark Carney said he wanted to make it easier for smaller firms to use the system directly rather than via large incumbent banks. On Friday the BoE set out more detailed proposals and said it planned to fund the changes by temporarily increasing the charges banks pay to use the system. "The world of payments is changing rapidly, and central banks need to keep pace if we are to deliver our mission of monetary and financial stability ... whilst also enabling innovation and competition where we can," BoE executive director Andrew Hauser said. Proposed enhancements include running the system continuously, rather than just during normal working hours, and making it easier for smaller banks, brokers and payment processing firms to access the system directly. "A key enabler for delivering these changes will be a comprehensive rebuild of the RTGS technology platform. The Bank will make decisions on its resilience, including in particular its cyber defences, in consultation with intelligence partners," the BoE said. Other goals included allowing forward-dated payments and creating an interface with the 'distributed-ledger' technology that underpins digital currencies such as Bitcoin "if/when they achieve critical mass", it said. (Reporting by David Milliken; Editing by Costas Pitas and Hugh Lawson) || 3 of Murray Stahl's Latest Investment Ideas: - By Bram de Haas
FRMO Corp. (FRMO) is out with another annual letter to investors by CEOMurray Stahl(Trades,Portfolio) and CFO Steven Bregman, and as always, it is highly interesting and a must-read for any enterprising value investor who enjoys creative ideas. The full letter can be read here, but I have taken the liberty to summarize the actionable investment ideas for you:
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• FRMO 15-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO
1. CASH
If there is one important idea in the letter it is to keep cash. For some time now, Stahl and Bregman have been fairly bearish on the outlook for the investment landscape. Especially liquid investments contained in many ETF's are highly unattractive to them.
Readers of our Shareholder Letter for 2015 will recall that in the first paragraph we made reference to exceedingly low interest rates. We did not imagine the appearance of negative interest rates. As far as we can determine, after consulting Sidney Homer's classic text The History of Interest Rates , we are now in the lowest interest rate environment in the last 5,000 years. This is important, since interest rates establish value for all financial assets. Consequently, valuations for many types of financial assets are high. The investment opportunity set is, therefore, unusually narrow. It is for this reason that we carry about $49 million of cash and cash equivalents on our balance sheet. Indeed, viewed on a tangible assets basis, we are largely uninvested, since much of the balance sheet valuation of our Horizon Kinetics LLC assets is necessarily intangible.
One of the solutions proposed and put in practice by the duo is to hoard cash in large quantities. Not just as a defensive measure, but also in an offensive way. The cash can be used ONCE asset prices go down. What is merely zero yielding cash now, can be highly lucrative firepower later. Their argumentation strongly reminds me of " The Dao Of Capital" by Spitznagel. From the blurb:
We arrive at his central investment methodology ofAustrian Investing, where victory comes not from waging the immediate decisive battle, but rather from theroundaboutapproach of seeking the intermediate positional advantage (what he callsshi), of aiming at the indirect means rather than directly at the ends.
The roundabout is where he bets first on something that will decline in crisis, to reap rewards exactly at a time where liquidity comes at a premium. It is then the Austrian Investor is flush with cash and can harvest.
2. BITCOIN
Stahl and Bregman have, as long as I have tracked their moves, taken optionality very seriously. One outgrowth of that preference is the ownership interests in many exchanges of financial assets carried by FRMO. Bitcoin (BTC) and other altcoins are, in essence, exchanges as well. They represent a method to exchange value or store value. Still in the early innings of what they could be, there is tremendous optionality within Bitcoin, the blockchain and other altcoins. FRMO holds an investment in the Digital Currency Group, which is an investor in many different bitcoin and blockchain related companies. Among other assets, it holds a stake in Coinbase (a very user friendly bitcoin and ethereum wallet) and the GBTC, which is one of the few ways institutional investors can buy Bitcoin. In addition in 2016, as per the annual letter, Horizon Kinetics also established a fund that invests in bitcoin:
The fund established an investment maximum of $50,000 per client. We are not aware of any other firm that so constrains client contributions. However, we believe it is the easiest and most obvious way to control risk. We simply limit the amount of money that can possibly be lost to an amount that is tolerable. Investment firms often complain about the short-term focus of clients. The short-term focus is more understandable if the investment in failure mode could quite negatively impact their lives. In any case, we rapidly sold essentially every available slot in the fund.
I like this for two reasons: 1) the fact that they set up another successful fund and 2) This increases FRMO's exposure to crytocurrency, a currency or asset class (however you want to call it) that I'm bullish on as it solves real-world problems. For a more in-depth discussion, you can reference my writing in 5 reasons to buy bitcoin and 6 reasons why you shouldn't invest in bitcoin .
MICROCAPS
As an extension of Stahl and Bregman's distrust of large liquid assets, they pursue lots of illiquid assets but also have become interested in the micro cap space.
As a consequence of the industrial scale upon which indexes operate, the largest companies frequently have valuations far in excess of smaller companies. For example, large-capitalization shares have outperformed micro-capitalization equities for years. The S&P 500 trades at nearly two times the price-to-book-value ratio of a typical micro-capitalization index. This is very unusual. However, the enormous industrial scale of indexation investing, as well as the market capitalization float adjusted methodology of weighting, requires maximum trading liquidity that simply cannot be provided by genuinely small companies. Another factor, the importance of which is difficult to quantify, is that the large companies frequently pay robust dividends. This is not usually true of small firms. There are many large capitalization equity indexes that are marketed as so-called "bond substitutes." This is nothing other than a consequence of the worldwide central bank effort to lower interest rates, to zero in many instances. The theory behind this effort was to essentially force investors into risk-based assets and, hence, stimulate economic growth.
It is not referenced by name in the current annual letter, but I believe their investment in the Royce Microcap Trust (RMT), through Horizon Kinetics funds, is inspired by this idea. This is a closed-end fund that is trading at a historically very sizeable discount, while micro caps have underperformed for years on end. Lots of potential to get a double whammy here if both micro caps close the valuation gap with large caps and the discount to intrinsic value narrows. As you can see below, the discount is really much wider than it has historically been:
Disclosure: Long FRMO Corp and Bitcoin.
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• FRMO 15-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO || Bill Gross of Janus warns financial markets have become 'a Vegas casino': By Jennifer Ablan
NEW YORK (Reuters) - Global central bank policy makers have turned world financial markets into a casino, thanks to their unprecedented monetary policies, bond investor Bill Gross of Janus Capital Group (JNS.N) warned on Tuesday.
“Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world,” Gross said in his latest Investment Outlook titled “Doubling Down.”
Gross, who oversees the $1.5 billion Janus Global Unconstrained Bond Fund, recommended Bitcoin and gold for investors who are looking for places to preserve capital.
"At some point investors – leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives," Gross said.
Gross has been lambasting ultra-loose central bank policies for hindering global economies by keeping so-called "zombie" corporations alive and inhibiting "creative destruction."
For several years, Gross and others have warned that zero and negative interest rates not only fail to provide an easing cushion should recession occur, but they destroy capitalism's business models.
"A commonsensical observation made by yours truly and increasing numbers of economists, Fed members, and corporate CEOs (Jamie Dimon amongst them) would be that low/negative yields erode and in some cases destroy historical business models which foster savings/investment and ultimately economic growth," Gross said.
He added: "Our argument is that NIMs (net interest margins) for banks, and the solvency of insurance companies and pension funds with long dated and underfunded liabilities, have been negatively affected and that ultimately, the continuation of current monetary policies will lead to capital destruction as opposed to capital creation."
All told, Gross said central bankers have fostered a casino-like atmosphere that present "a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination. Investors/savers are now scrappin’ like mongrel dogs for tidbits of return at the zero bound. This cannot end well."
The Janus Global Unconstrained Bond Fund, which saw outflows of $87.7 million in 2015, has seen inflows of $221 million year-to-date as of Aug. 31. So far this year, the fund has returned 4.956 percent, putting it in the 33rd percentile, beating 67 percent of its peers, according to Morningstar data.
Janus Capital announced Monday that it was merging with London-based Henderson Group Plc to form a $320 billion asset manager.
In an emailed statement, Gross said: "Henderson obviously bought a great performing fund with Janus Global Unconstrained. Growth has far exceeded industry trends and absolute and relative performance is typical of my historical standards, at 400 basis points above the benchmark for the year, far better than Pimco. With the greater global scale of the combined Janus Henderson, investors who followed me to Janus would have benefited on multiple levels."
(Reporting By Jennifer Ablan; Editing by Chizu Nomiyama and Chris Reese) || Flow Study Gets More Caribbean Students Closer to Examination Success: MIAMI, FL--(Marketwired - Sep 20, 2016) - As parents and students get fully into the new school term,Flowunveils its e-learning platform,Flow Study,an online portal to help students better prepare for the CAPE and CSEC examinations.
One of the most significant features ofFlow Studyis that it offers access to a comprehensive range of educational materials, including exam strategies, past paper solutions, CyberPedia and virtual labs, that students can access from multiple devices including smartphones, tablets and desktop computers. The portal is also linked tovideo-based tutorialsviaFlow TV on Demand.
Ricardo D. Allen, head ofOne On One Educational Services, is the founder and developer of the Flow Study program. For the last several years, his team has been preparing students for the CSEC mathematics exam, maintaining a 100 percent pass rate with an average of 83 percent of these students, attaining a grade one. Flow sees the partnership with One to One as an opportunity to twin the educational expertise and successful track record of One on One with Flow's world class technological platform to significantly expand access to e-learning to thousands more Caribbean students.
"Our partnership with One On One Educational Services enables us to deliver the highest-quality educational content via our industry-leading technology, giving Caribbean students a better opportunity to excel," said Michele English, Acting President of Flow. "The platform supplements classroom learning and gives students the ability to study anytime, anywhere. It's the future of studying and we are pleased to offer this opportunity to our customers," she stated.
The App offers free access to basic study materials to all Flow's broadband customers. Parents who want more specialized and detailed material for their children, can access additional subjects and content for a small fee that they will be able to pay through their Flow bill or prepaid balance.
Getting started is simple --visitwww.flowstudy.co,'login' to register for a freeFLOW ID.Download the Flow Study app on your mobile device from theGoogle Play Storeto access learning material and you're on your way to better grades. Flow Study is available across all Flow markets except Curacao.
About C&W CommunicationsCWC is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
CWC also operates a state-of-the-art submarine fiber network - the most extensive in the region - in over 30 markets.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty GlobalLiberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband internet and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3058430Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3058433Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3058436 || Traders look for opportunities to jump into oil rally after OPEC deal: The " Fast Money " traders debated how to invest in the energy sector as oil rallied on the back of an OPEC production limit agreement on Wednesday. Trader Guy Adami said oil prices and companies like Anadarko Petroleum ( APC ) could continue to see gains through the rest of the week. He said the refiners "are probably dead money for a little bit." Trader Karen Finerman agreed and said there's probably more room to run for Anadarko. Trader Tim Seymour said investors should look for companies with "impaired balance sheets because they're the ones that have the most to gain." He said it's probably better to avoid big integrated oil companies. Instead, investors should look at the VanEck Vectors Oil Services ETF (NYSE Arca: OIH) , Seymour said. Trader Brian Kelly also said that the oil services ETF is a good choice. He said it's "the greatest risk-reward in the oil space out there right now." He said if the ETF dips below $26, it would be a great buy. It closed at $28.10 on Wednesday. Disclosures: TIM SEYMOUR Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM KAREN FINERMAN Karen Finerman is long AAL, BAC, C, DAL, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Finerman is on the board of GrafTech International. BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, XLF, XLRE XOP, WTI, US Dollar UUP; he is short the euro and the Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Cyber threat grows for bitcoin exchanges: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The cyber theft -- the second largest by an exchange since hackers took roughly $350 million in bitcoins at Tokyo's MtGox exchange in early 2014 -- is hardly a rare occurrence in the emerging world of crypto-currencies. New data disclosed to Reuters shows a third of bitcoin trading platforms have been hacked, and nearly half have closed in the half dozen years since they burst on the scene. This rising risk for bitcoin holders is compounded by the fact there is no depositor's insurance to absorb the loss, even though many exchanges act like virtual banks. Not only does that approach cast the cyber security risk in stark relief, but it also exposes the fact that bitcoin investors have little choice but to do business with under-capitalized exchanges that may not have the capital buffer to absorb these losses the way a traditional and regulated bank or exchange would. "There is a general sense in the bitcoin community that any centralized repository is at risk," said a U.S.-based professional trader who lost about $1,000 in bitcoins when Bitfinex was hacked. He declined to be named for this article. "So when investing, you always have that expectation at the back of your head. I lost a small amount compared to the others, but I know of traders who lost millions of dollars worth of bitcoins," the trader said. The security challenge for the bitcoin world does not appear to be letting up, according to experts in the currency. "I am skeptical there's going to be any technological silver bullet that's going to solve security breach problems. No technology, crypto-currency, or financial mechanism can be made safe from hacks," said Tyler Moore, assistant professor of cyber security at the University of Tulsa's Tandy School of Computer Science who will soon publish the new research on the vulnerability of bitcoin exchanges. Story continues His study, funded by the U.S. Department of Homeland Security and shared with Reuters, shows that since bitcoin's creation in 2009 to March 2015, 33 percent of all bitcoin exchanges operational during that period were hacked. The figure represents one of the first estimates of the extent of security breaches in the bitcoin world. In contrast, data from the Privacy Rights Clearinghouse, a non-profit organization, showed that of the 6,000 operational U.S. banks, only 67 banks experienced a publicly-disclosed data breach between 2009 and 2015. That's roughly 1 percent of U.S. banks. Among the world's stock exchanges, however, security breaches are much higher, with hackers attracted to the large pools of cash moving in and out of these trading venues. The latest survey of 46 securities exchanges released three years ago by the International Organization of Securities Commissions and World Federation of Exchanges found that more than half had experienced a cyber attack. Moore collaborated on the research with Nicolas Christin, associate research professor at Carnegie Mellon University and Janos Szurdi, a Ph.D. student also at Carnegie. In 2013, Moore and Christin wrote a research paper on security risks surrounding bitcoin exchanges when Moore was still a professor at Southern Methodist University. That research entitled Beware of the Middleman: Empirical Analysis of Bitcoin Exchange Risk was peer-reviewed and presented at the 17th International Financial Cryptography and Data Security Conference in Okinawa, Japan in 2013. In the most recent study, the rate of closure for bitcoin exchanges in Moore's research edged up to 48 percent among those operating from 2009 to March 2015. Hacking did not necessarily trigger the closure in each case. "A 48 percent closure is not acceptable, but not surprising given that bitcoin is a new technology," said Richard Johnson, vice president of market structure and technology at Greenwich Associates. Johnson has written reports on risk and security issues in the crypto-currency world. Profitability is a big problem for bitcoin exchanges, with many of them unable to generate enough volume to keep afloat. Bitcoin exchanges overall could be launched for as low as $100,000 up to $1 million, said Erik Voorhees, founder and chief executive officer of digital currency exchange ShapeShift. That is a fraction of what U.S. forex exchanges' are required to put up. Retail FX trading platform FXCM, for instance, is required by the Commodity Futures Trading Commission to have at least $25 million in capital at all times. RECOVERING LOSSES A key factor tied to the risk posed by exchanges is whether customers are reimbursed after closure or after the loss of bitcoins following a hack. Each closure and breach have been handled differently, but Tandy's Moore said the risk of losing funds stored in exchanges are real. In the case of Bitfinex, which is now up and running after the hack August 2, customers lost 36 percent of the assets they had on the platform and were compensated for the losses with tokens of credit that would be converted into equity in the parent company. At Tokyo's MtGox, customers have yet to recover their investments more than two years after closure. Experts say trading venues acting like banks such as Bitfinex will remain vulnerable. These exchanges act as custodial wallets in which they control users' digital currencies like banks control customer deposits. "The big exchanges that hold customer deposits are a big target for hackers," said ShapeShift's Voorhees, "and unfortunately most bitcoin exchanges store user funds." When customers' checking accounts are hacked, there is always a third party at the bank that can step in to deal with the theft. Not so with bitcoin, said Seattle-based Darin Stanchfield, chief executive officer at KeepKey, a hardware wallet provider. He expects more of these attacks to happen despite efforts to improve security at bitcoin exchanges. "Unfortunately because of its irreversible nature, bitcoin requires near perfect security." (Reporting by Gertrude Chavez-Dreyfuss; Editing by Edward Tobin) || JPMorgan is developing a new blockchain project: Blockchain (BII) This story was delivered to BI Intelligence " Fintech Briefing " subscribers. To learn more and subscribe, please click here . JPMorgan Chase is working with Ethereum startup EthLab on a new blockchain project called Quorum, the Wall Street Journal and CoinDesk report. The two parties will develop a private, permissioned blockchain built off of the public Ethereum network's code. This is the latest project to come out of JPMorgan Chase's working group, the Blockchain Center of Excellence. Unlike other banks, JPMorgan is not building an entirely new blockchain system from scratch — it is using the concept of a permissioned blockchain. The bank is utilizing a publically accessible code to develop its solution. But unlike public blockchains such as the one used by Bitcoin, JPMorgan's will be private and permissioned, meaning the bank will be able to limit access to transactions to selected parties, such as parties in a trade or a regulator. This will make it private and secure enough for traders to use for transactions, and accessible enough for regulators to provide oversight. Such functionality is considered a vital element needed before banks will adopt blockchain technology widely. This approach stands to give JPMorgan significant advantages over its rivals. Using existing code to build a blockchain solution is significantly cheaper than developing its own network. Moreover, by using a publically accessible network, JPMorgan can build a blockchain that could theoretically be plugged into other systems built on the same network. For context, institutions building their own networks may find their end solutions to be incompatible with each other. This ease-of-use could potentially give JPMorgan an edge over other banks experimenting with blockchain, as its solution may be more likely to be widely adopted. However, JPMorgan has not addressed concern over Ethereum's security flaws. The network has suffered significant security breaches recently — in its most severe hack, the equivalent of $80 million worth of cryptocurrency was stolen, and the most recent attack occurred just last month. The bank will need to address these concerns before it moves into any live testing phase that involves customers' money. Story continues Blockchain technology, which is best known for powering Bitcoin and other cryptocurrencies, is gaining steam among finance firms because of its potential to streamline processes and increase efficiency. The technology could cut costs by up to $20 billion annually by 2022, according to Santander . That's because blockchain, which operates as a distributed ledger, has the ability to allow multiple parties to transfer and store sensitive information in a space that’s secure, permanent, anonymous, and easily accessible. That could simplify paper-heavy, expensive, or logistically complicated financial systems, like remittances and cross-border transfer, shareholder management and ownership exchange, and securities trading, to name a few. And outside of finance, governments and the music industry are investigating the technology’s potential to simplify record-keeping. As a result, venture capital firms and financial institutions alike are pouring investment into finding, developing, and testing blockchain use cases. Over 50 major financial institutions are involved with collaborative blockchain startups, have begun researching the technology in-house, or have helped fund startups with products rooted in blockchain. Jaime Toplin, research associate for BI Intelligence , Business Insider's premium research service, has compiled a detailed report on blockchain technology that explains how blockchain works, why it has the potential to provide a watershed moment for the financial industry, and the different ways it could be put into practice in the coming years. Here are some key takeaways from the report: Spending on capital markets applications of blockchain is expected to grow at a 52% compound annual growth rate (CAGR) through 2019, according to Aite Group, to reach $400 million that year. Banks and major financial institutions are working both collaboratively and independently to develop blockchain tech. Over 50 major financial institutions are involved with collaborative blockchain startups, like R3 CEV or Chain. And many are investing in the technology on their own as well. Putting blockchain to use for real-world transactions is likely not that far off. If working groups' tests are successful, firms could be using it to transact real value as early as the end of this year and we could see widespread industry application within the next few years. In full, the report: Examines the funding increases that are pouring into blockchain Assesses why blockchain is becoming so popular and what factors are driving up increased research and development Explains in full how blockchain technology work and what assets make it valuable and vulnerable Identifies pain points in the financial industry and profiles how various firms are using blockchain to solve them Demonstrates the challenges to mainstream adoption and their potential solutions 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 blockchain technology. More From Business Insider THE FINTECH REGULATION REPORT: How European regulators are creating fertile ground for fintech growth THE CORPORATE TREASURY FINTECH REPORT: The emerging firms that help companies manage their cash Fully understand the Fintech Ecosystem with this report || Trouble in aisle 9: Traders look for opportunity in the grocers: The "Fast Money" traders debated whether there may be opportunities in the grocers after Sprouts Farmers Market(SFM)issued disappointing guidance, dragging down other names in the space.
Sprouts said in a statement that industry-wide promotions have negatively affected retail deflation and traffic generation, amid a "prolonged deflationary environment" and "competitive landscape."
The stock fell more than 13 percent on Wednesday. Shares of Kroger(KR)and Whole Foods Market(WFM)fell about 4 percent and 5 percent, respectively.
Sprouts said it now expects third-quarter sales growth to be roughly flat. Wall Street had previously expected Sprouts to grow sales by about 2.2 percent during the quarter, according to a FactSet consensus estimate.
Trader Brian Kelly said he isn't interested in the grocers and would rather own something like sugar. He pointed to the Barclays Bank iPath Bloomberg Sugar Subindex Total Return(NYSE Arca: SGG), which has surged more than 33 percent this year.
Even though the whole industry felt the pressure on Wednesday, trader Pete Najarian said that companies like Target(TGT), Wal-Mart(WMT)and Kroger can better compete in the long run.
Trader Steve Grasso said that he is more interested in the producers like Tyson Foods(TSN)than the grocers.
Trader Guy Adami said he actually likes Whole Foods because of the risk and reward. He said that while this is "a challenged story at best," the stock closed at $29.08 on Wednesday, about a dollar above its 52-week low of $28.07.
Disclosures:
PETE NAJARIAN
Long stock: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, TGT, VIAB and long calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, DAL, DISH, DVN, EGO, ETP, FB, FSLR, FXI, GLD, HALO, KGC, KO, LLY, M, MS, MT, MU, NEM, SBUX, SLV, TGT, TMUS, TWTR, TTS, UA, VRX, XLE Puts: CLF, MBLY, MRO, TSLA, EEM
STEVE GRASSO
Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MON, MU, NKE, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. No shorts. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR FP
BRIAN KELLY
Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short the euro and Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Bitcoin: A Significantly Investable Asset: Note: This article is courtesy ofIris.xyz
Written by:Christopher Burniske, ARK Analyst
ARK Invest and Coinbase defineinvestabilityas providing ample liquidity and opportunity to invest. Globally, bitcoin exchange trading volumes are a good measure of the liquidity available to investors. As shown in the graph below, these volumes have been increasing steadily, reaching roughly $1 billion per day through the first quarter of 2016.
However, the graph above suffers a shortcoming as trading activity is self-reported by exchanges and not validated by third parties. If we were to look only at bitcoin traded as a cross with the US dollar, euro and British pound—the assumption being that businesses are monitored more closely when handling these currencies—the picture is starkly different.
Trending on ETF Trends
BATS Encouraging Greater Liquidity in ETF Trades
Pros Bet on an Oil ETF Rally
Uranium ETF: Ready to Break a Long Slumber?
Dollar ETFs may Finally get Their Day
ETF Investors Find More Variety as Fund Sponsors Expand
Daily trades made in these three currencies have been ranging between $10 to $100 million since early 2014, as shown in the graph below. For 2016, this comparison puts these three currencies at between 2-10% of global bitcoin trading volume.
As a percentage of reported bitcoin volume traded, the Chinese yuan took significant share during the explosive November 2013 price rally, and has continued to dominate (see graph below). Although over-the-counter (OTC) trading is still a small percentage of total volume generation, and not included in these graphs, itBit’s Asian OTC volume soared 300% month-over-month in March 2016.
Click hereto read the full story on Iris.xyz. || Bitcoin: A Significantly Investable Asset: Note: This article is courtesy ofIris.xyz
Written by:Christopher Burniske, ARK Analyst
ARK Invest and Coinbase defineinvestabilityas providing ample liquidity and opportunity to invest. Globally, bitcoin exchange trading volumes are a good measure of the liquidity available to investors. As shown in the graph below, these volumes have been increasing steadily, reaching roughly $1 billion per day through the first quarter of 2016.
However, the graph above suffers a shortcoming as trading activity is self-reported by exchanges and not validated by third parties. If we were to look only at bitcoin traded as a cross with the US dollar, euro and British pound—the assumption being that businesses are monitored more closely when handling these currencies—the picture is starkly different.
Trending on ETF Trends
BATS Encouraging Greater Liquidity in ETF Trades
Pros Bet on an Oil ETF Rally
Uranium ETF: Ready to Break a Long Slumber?
Dollar ETFs may Finally get Their Day
ETF Investors Find More Variety as Fund Sponsors Expand
Daily trades made in these three currencies have been ranging between $10 to $100 million since early 2014, as shown in the graph below. For 2016, this comparison puts these three currencies at between 2-10% of global bitcoin trading volume.
As a percentage of reported bitcoin volume traded, the Chinese yuan took significant share during the explosive November 2013 price rally, and has continued to dominate (see graph below). Although over-the-counter (OTC) trading is still a small percentage of total volume generation, and not included in these graphs, itBit’s Asian OTC volume soared 300% month-over-month in March 2016.
Click hereto read the full story on Iris.xyz.
[Random Sample of Social Media Buzz (last 60 days)]
$628.88 at 11:45 UTC [24h Range: $612.71 - $635.00 Volume: 6615 BTC] || http://10000satoshi.faucetfly.com/ #crypto #free #btc #bitcoin 1471993401 || Took a hard hit during that G2 match. Lost around $67 worth of BTC. Time to grind it back || LIVE: Profit = $56.01 (9.15 %). BUY B1.10 @ $599.99 (#VirCurex). SELL @ $606.00 (#BitKonan) #bitcoin #btc - http://www.projectcoin.org || #UFOCoin #UFO $0.000012 (1.81%) 0.00000002 BTC (-0.00%) || #UFOCoin #UFO $0.000006 (0.11%) 0.00000001 BTC (-0.00%) || 1 KOBO = 0.00000319 BTC
= 0.0019 USD
= 0.5786 NGN
= 0.0258 ZAR
= 0.1924 KES
#Kobocoin 2016-09-27 13:00 pic.twitter.com/ypb1aMWWaQ || Roundup of the Last 3 Years in Bitcoin http://ift.tt/2eChEXr #reddit #bitcoin || Average Bitcoin market price is: USD 572.00, EUR 512.91 || $609.00 at 05:45 UTC [24h Range: $603.01 - $609.50 Volume: 1369 BTC]
|
Trend: up || Prices: 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Update on Land Betterment's LBX Positive Cryptocurrency: FISHERS, Ind. --News Direct-- Land Betterment Corporation FISHERS, Ind. October 15, 2021 /3BL Media/ - Land Betterment Corporation (“Land Betterment” or the “Company”), an environmental solutions company fostering positive impact through upcycling former coal mining and industrial sites to create sustainable community development and job creation, shares updates on its soon to be launched Land Betterment Exchange (LBX) Cryptocurrency. How does the LBX program work to create an established market? Its relatively simple. The LBX Token is an ERC-20 token written off the Ethereum framework that flips the narrative on how to incentivize the cleanup of abandon environmental liabilities. LBX operates in a very similar structure to Bitcoin . Initially 20 million tokens will be outstanding at a cost of $250 per token . The only way new LBX Tokens will be issued is through its token issuance process, which is based on successfully achieving approved, audited and verified environmental cleanup of operating or shut down/abandon properties that were impacted by the fossil fuel industry. An LBX Token is issued once the Sponsor completes the work. The LBX Token will traded on the exchange(s) that we select to commence trading. Beyond the initial 20 million tokens available to be traded, the liquidity and market value will be expanded by the new tokens being issued through the token issuance process . Similar to Bitcoin, there is a finite amount of LBX that will ever be issued (80 million in total). As the program progresses over time, harder projects will be completed reducing the speed of new issuances which should result in the market value increasing to incentivize such work to be completed in the future and basic supply demand of token availability . Mark Jensen, Executive Chairman of Land Betterment Corporation commented, “The momentum is building and the LBX application process will be kicking off shortly, which will soon be followed by LBX selecting its initial exchange to list its tokens. Ultimately, we will discover what the environment is truly worth to the world once LBX tokens begin trading in the open market.” Story continues To learn more or apply for LBX Tokens, visit: https://lbxtoken.com/ About Land Betterment Exchange (LBX) Land Betterment Exchange (LBX) is an environmentally driven token that creates a financial incentive and trading market to pull forward environmental cleanup and expedite the transition away from fossil fuels while providing new sustainable livable wage jobs for the local community. Land Betterment Exchange has engaged Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, as its token issuance partner to ensure that the integrity of the token issuance process is adhered to and the environment cleanup is completed. Land Betterment Corporation and Land Betterment Exchange both firmly believe that with real solutions it is possible for the restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. About Land Betterment Corporation Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit landbetterment.com or connect with the Company on Facebook , Twitter , and LinkedIn . View additional multimedia and more ESG storytelling from Land Betterment Corporation on 3blmedia.com View source version on newsdirect.com: https://newsdirect.com/news/update-on-land-betterments-lbx-positive-cryptocurrency-472993733 || Bitcoin Continues To Rebound At The Start Of The Week: Bitcoinmanaged to settle back above $42,600 and is testing the resistance level at $44,000 while other cryptocurrencies are also moving higher.Ethereumgained strong upside momentum and returned to the $3,100 level.Dogecoinis currently trying to settle back above $0.2050 whileXRPcontinues its attempts to settle above the resistance at $0.95.
Bitcoin has recently found itself under strong pressure and made an attempt to settle below $41,000 after China’s central bank stated that crypto transactions were illegal. This statement triggered a significant sell-off in crypto markets but traders quickly managed to calm down.
China continues to put pressure on the crypto industry, but it remains to be seen whether additional news on this front could put sustainable pressure on crypto markets. At this point, it is clear that China will push cryptocurrencies out of its economy, paving the way for the digital yuan. Crypto traders had sufficient time to prepare for this scenario, which may have been already priced in by the markets.
Bitcoin is currently testing the resistance level at $44,000. In case this test is successful, it will move towards the next resistance which is located at the 50 EMA at $45,000. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
In case Bitcoin settles above the 50 EMA, it will get to the test of the next resistance at $46,000. A move above this level will push Bitcoin towards the resistance at $47,000, which is followed by the next resistance at $48,000.
On the support side, the nearest support level for Bitcoin is located at $42,600. In case Bitcoin gets back below this level, it will move towards the next support at $41,300.
A successful test of the support at $41,300 will push Bitcoin towards the support at $40,000. In case Bitcoin declines below this level, it will head towards the support at $39,300.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Stocks Pull Back As Treasury Yields Rise || Cathie Wood isn't buying the first bitcoin futures ETF yet - but is eyeing it 'very carefully': • Ark Invest's Cathie Wood did not join the frenzy surrounding the debut of the first bitcoin-futures ETF, but is not ruling it out.
• She said Ark is holding off from buying ProShares Bitcoin Strategy ETF, citing tax implications.
• "We're looking at this very carefully ... there are some tax ramifications we'd like to understand more."
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Ark Invest founder and CEO Cathie Wood did not join the Tuesday frenzy surrounding the first bitcoin-futures exchange-traded fund to be listed in the US, but is not ruling it out entirely.
The star stock picker revealed in aninterviewat the Milken Institute's conference that Ark is holding off buyingProShares Bitcoin Strategy ETF(BITO), citing tax implications.
"No, we did not," Wood said when asked if she bought during the fund's debut. "We're looking at this very carefully ... there are some tax ramifications we'd like to understand more having to do with contango versus more normal backwardation."
Wood was referring to the structure of the forward curve. Contango is a situation when the forward price of a futures contract is higher than the spot price. Backwardation is the reverse, when the forward price of the futures contract is lower than the spot price.
In bitcoin's case, its futures are often in contango. This is probably why institutional investors like Ark had a wait-and-see stance, said Jeffrey Halley, senior market analyst at Oanda.
"Longer-dated contracts are more expensive than the front month," Halley said in a Wednesday note. "That means you lose money rolling expiring contracts into the new front month. They probably want to see an orderly roll with decent two-way liquidity and a shallower contango."
But while Oanda saw thin trading volume for BITO from institutional investors on Tuesday, Vanda Research said they likely accounted for the bulk of overall volume asretail investors sat out the debut.
Still, the ProShares Bitcoin Strategy ETFwas the second-biggest ETF launch ever,with more than $1 billion worth of shares traded on its first day.
Overall, Wood remains bullish on bitcoin, noting how Ark got involved with the digital asset in 2015. Back then, she invested in the digital asset believing it could become as big as the monetary base of the US, which stood at trillions of dollars. Digital assets currently have a market valuation of $2.5 trillion, with bitcoin capturing nearly half at $1 trillion.
"This is the new bank - digital wallet - and it's going to be true in this country. It's going to be true around the world," she said at the Milken conference.
All in? she was asked. "All in," she replied.
Read the original article onBusiness Insider || United States Department of Justice Forms New Cryptocurrency Cybercrime Task Force: By: Trevor Judice
What Happened:The United States Department of Justice announced Wednesday they were launching a National Cryptocurrency Enforcement Team. The team’s objective is to enforce and investigate illegal activities that utilize cryptocurrency to fund or receive payment for crime.
Why it Matters:The Department of Justice announcing a new form of cryptocurrency enforcement comes with a string of regulations to the industry being proposed throughout all branches of the United States Government.
Criminals have been utilizing cryptocurrency as a way of receiving payment for illegal activities since the Silk Road was founded in 2011. The anonymous nature of manycryptocurrenciesallows criminals to hide behind a hashed address and send and receive money at will.
WhileBitcoinandEthereumused to be the main form of illicit payment, their publicly viewable transactions allow government officials to trace money to its final destination. Certain methods have been used to attempt to obfuscate transaction history. For example, the Liquid Exchange hackers sent $20 million of Ethereum to an eth mixer, which takes in ethereum from many accounts, cryptographically mixes the accounts together, and sends the eth to a slew of addresses. This effectively hides the connection between the sending and receiving wallet.
Furthermore, cryptocurrencies such as Monero, which prides itself on being a private, decentralized blockchain that keeps finances confidential and secure. Monero represents the implementation of an “opaque” blockchain, where accounts sending transactions are hidden.
The untraceability mechanisms provided byMoneroand Ethereum make it incredibly hard for teams such as the novice National Cryptocurrency Enforcement Team to track transactions. Instead of attempting to trace funds, however, the team can attempt to catch criminals at blockchain endpoints: the location or method of getting fiat on and off the blockchain, such as when cryptocurrency is sent to cryptocurrency exchanges.
To do so, the DoJ indicated that the enforcement team would go after cybercriminals who use ransomware. Ransomware has become an increasingly popular method of demanding money from infiltrated companies, rising 62% between 2019 and 2020. Hackers target vulnerable people or companies and coalesce them into installing malicious software on their devices. Once activated, the software can control system functions. To deactivate such software and retain sensitive data, companies must pay hackers in the form of cryptocurrency.
The establishment of the National Cryptocurrency Enforcement team reflects the United States Government’s current objective to regulate and monitor cryptocurrency to keep users and investors financially safe.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || One Last Pullback to $53K Before Bitcoin Targets $90K?: Two weeks ago, see here , when Bitcoin (BTC) was trading at $55K, I concluded, “ the preferred view remains BTC is now in a new bull run to new all-time highs, with an ideal target of $90K+ “. However, I was looking for to rally to top out at around $57-60K, followed by a drop to approximately $51K and then another rally to the long-term target of $90K+, which btw will still not be “THE TOP.” Fast forward, BTC reached $66980 yesterday and is seeing a solid reversal today. Thus my (red) intermediate wave-i top target was a bit off as quite the margin exceeded it. The exceedance is, based on the “ Elliott Wave Principle (EWP) waves, because the cryptocurrency experienced a subdividing, 3 rd and 5 th wave. See Figure 1 below. Figure 1. Bitcoin daily charts with detailed EWP count and technical indicators. Such extensions can always happen, must be anticipated, but cannot be known with certainty beforehand. They fall under the good old “ in bull markets upside surprises and downside disappoints ” theme. How to trade that? Don’t sell your entire position in anticipation of a pullback, but raise stops and maybe take some chips off the table, but not all. For example, my crypto trading alert bot service does just that. For instance, it went long on October 1 at $48165. It sold ¼ positions in three batches on the way up, and now its subscribers to it are still only holding ¼ of the original position, with a stop at $49502 and depending on the trading system signals, this easy trade netted so far an easy +18%. A break below Sunday’s $59016 low is needed to confirm wave-ii to ideally $53K. Figure 1 shows several technical indicators, and one of the most important ones is IMHO the Money Flow Indicator (MFI14) at the bottom of the page. It has been highly overbought over the last several days, meaning everyone has bought BTC. And when everybody has bought, only selling is left. In addition, the Crypto Fear & Greed Index sits currently at 84: extreme greed. Story continues Thus, some selling would be typical to take care of these powerful Bullish readings. Besides, such strong MFI readings tell there’s plenty of liquidity going into the cryptocurrency, and liquidity is what drives markets. In over 9 out of 10 occasions where the MFI14 gets this overbought, we can expect a pullback and then higher prices again. These readings fit with the preferred EWP count that wave-ii of wave-3 of wave-V of Cycle-3 is about to commence. See figure 1 above. Since (black) major wave-2 did a 50% retrace of wave-1, I (logically?!) expect wave-ii to also retrace about 50% of wave-i in the coming days. That will bring BTC’s price back to around $53K, which is horizontal support. From around that price level, I expect wave-iii of wave-3 to start targeting $90K+ideally. My premium crypto trading members know the exact target zones, even for all of wave-3 and Cycle-3. A break below Sunday’s $59016 low is needed to confirm wave-ii to ideally $53K is underway. Bottom line: Bitcoin’s rally to yesterday’s all-time high (ATH) surpassed my initial anticipation of a local top around $57-60K as the 3 rd and 5 th wave of the larger wave-i I was tracking extended. However, the anticipated pattern of a “rally, pullback, rally” remains intact. The first “ rally ” came and likely went, and now I anticipate the “ pullback .” Money flow and sentiment are extremely overbought/bullish, suggesting some selling should be expected. I expect this pullback to reach around $53K+/-2K before the rally to $90K starts. BTC will have to break below $48K to begin to suggest something much more bearish is afoot, whereas continued ATHs will mean the mother of all cryptos is already in wave-iii of 3 and ready to target $78K more directly. Neither option, albeit possible, is my preferred path. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural Gas Markets Continue to Consolidate One Last Pullback to $53K Before Bitcoin Targets $90K? EUR/USD Mid-Session Technical Analysis for October 21, 2021 Gold Price Forecast – Gold Markets Hesitate at Same Area European Equities: Prelim Private Sector PMIs for October in Focus Social Media Giant Facebook on Track to Beat Earnings Estimates Again || Bitcoin soars to five-month high on seasonal factors, Soros news: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Bitcoin surged on Wednesday to its highest level in five months, as market sentiment continued to improve due in part to news a hedge fund controlled by billionaire investor George Soros trades bitcoin. Investors also expect a seasonal rally in cryptocurrencies this quarter. The world's largest cryptocurrency in terms of market value rose to $55,499.96, its highest since mid-May. It passed the $50,000 mark for the first time in four weeks on Tuesday amid, among other things, mounting institutional interest. Bitcoin was last up 6.3% at $54,750. According to reports on Wednesday, Soros Fund management confirmed at a Bloomberg summit that the fund is trading bitcoin. "We own some coins - not a lot," Dawn Fitzpatrick, the fund's chief executive, was quoted as saying. There are seasonal factors as well. "Bitcoin performs historically well in October, which almost makes the rising ... price now a self-fulfilling prophecy. I've been saying repeatedly since the summer that I expect a new all-time high in October," said Ruud Feltkamp, CEO of cloud-based automated crypto trading bot Cryptohopper. "So what is the reason for this new pump? I think it's partly due to the market cycle we're in, where the emotional part plays a significant role." Bank of America Corp published on Monday its first research coverage focused on cryptocurrencies and other digital assets. U.S. Bancorp announced it launched a cryptocurrency custody service for institutional investment managers who have private funds in the United States and Cayman Islands. Smaller coins, which typically moves in line with bitcoin, were also up. Ether rose 2.2% to $3,594 and XRP was slightly up 0.2% at $1.0865. Ben McMillan, chief investment officer at IDX Digital Assets, a factor-based crypto index strategy, noted that based on an analysis of on-chain data, he is seeing a steady rise in the number of new bitcoin addresses, after a huge drop-off in the first half of the year, as well as an increasing number of bitcoin moving off exchange. Story continues Both factors - new addresses and bitcoin moving away from exchanges - are "structurally bullish indications." That said, McMillan said while the structural bull case for bitcoin is strong, "there remain non-trivial downside risks in the near term." (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Sruthi Shankar and Susan Mathew in Bengaluru; Editing by Anil D'Silva and Marguerita Choy) || NZD/USD Forex Technical Analysis – Strengthens Over .6924, Weakens Under .6921: The New Zealand Dollar is inching higher early Thursday after closing lower the previous session in a volatile trade. The currency was under pressure on Wednesday despite a rate hike by the Reserve Bank (RBNZ). In a widely telegraphed move, the RBNZ hiked interest rates on Wednesday for the first time in seven years and signaled further tightening to come, as it looks to get on top of inflationary pressures and cool a red-hot housing market. At 03:17 GMT, the NZD/USD is trading .6916, up 0.0001 or +0.02%. The increase in the cash rate to 0.50% by the RBNZ had been forecast by all 20 economists polled by Reuters and priced into the market for weeks, which is one reason for the weakness in the Kiwi. The other reasons include higher U.S. Treasury yields, a stronger U.S. Dollar and uncertainty ahead of Friday’s U.S. Non-Farm Payrolls report . Daily NZD/USD Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through .6860 will signal a resumption of the downtrend. A move through .7157 will change the main trend to up. The minor trend is also down. A trade through .6982 will change the minor trend to up. This will shift momentum to the upside. On Wednesday, the NZD/USD closed on the weak side of a major Fibonacci level at .6924, making it resistance. The next resistance is the 50% level at .6988. The minor range is .6860 to .6982. Its 50% level at .6921 is potential support. Daily Swing Chart Technical Forecast The direction of the NZD/USD on Thursday is likely to be determined by trader reaction to .6924 and .6921, Bullish Scenario A sustained move over .6924 will indicate the presence of buyers. The first upside target is a minor pivot at .6930. Overcoming this level will indicate the buying is getting stronger with potential targets at .6982 and .6988. Bearish Scenario A sustained move under .6921 will signal the presence of sellers. The first downside target is .6877. If this fails then look for the selling to possibly extend into .6860. This is the last potential support before the August 20 main bottom at .6860. 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: NZD/USD Forex Technical Analysis – Strengthens Over .6924, Weakens Under .6921 USD/JPY Forex Technical Analysis – Looking for Choppy Trade on Both Sides of 111.452 Pivot Dogecoin – Daily Tech Analysis – October 7th, 2021 Bitcoin’s Rally to $90K has Begun General Motors Targets Tesla With Ambitious EV Plans U.S. Dollar Index (DX) Futures Technical Analysis – Needs to Hold 94.100 to Sustain Upside Momentum || El Salvador Court Investigating Government Bitcoin Purchases: BeInCrypto –
El Salvador’s Court of Accounts will be investigating how the government makes its Bitcoin purchases, following complaints.
The court’s investigation, which will also include looking into the construction of kiosks for cryptocurrency ATMs, was prompted by a complaint it received on Sept 10. The regional human rights and transparency organization Cristosal filed a complaint about the implementation of bitcoin in El Salvador.
The Court of Accounts oversees the country’s public resources and can impose sanctions against officials who cannot resolve issues. The court is also empowered to present notices to the Attorney General’s Office if it finds irregularities in its investigations which could initiate criminal proceedings.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Huobi a Loser in China Crackdown, Bitcoin Futures Market Suggests: Call it the Huobi discount.
Bitcoin’s move to $50,000 has revived bullish sentiment, lifting futures premiums on most major cryptocurrency exchanges. These premiums represent the difference between the price of bitcoin futures contracts traded on a given exchange and the broader spot-market price – often seen as a gauge of speculative interest.
But on the Huobi exchange, historically skewed toward Chinese customers, the premium hasn’t budged. Analysts say the relatively low premium on Huobi might be the result of the exchange’s decision to suspend services to China-based clients.
While the annualized three-month futures premium, or basis, has recently averaged around 5% on Huobi, the premium on Binance, OKEx, Deribit and other major exchanges has climbed to near 10%.
“Traders have been actively moving to other exchanges to trade perps and futures,” said Matthew Dibb, chief operating officer at Stack Funds. “Perps” refers to perpetual swaps, a type of derivative in cryptocurrency markets that serves as an alternative to typical futures contracts.
Huobiannouncedlate last week that Oct. 29 will be the last day for derivative trading for users on the Chinese mainland. The exchange cited a “commitment to local compliance policies” and said it would “retire user accounts over the next few months.”
“Huobi’s trading volume amongst leveraged products has shown signs of weakening given the regulatory overhang from China,” Dibb said. “This is having a large impact on futures volume and basis.”
Patrick Heusser, head of trading at Crypto Finance AG, said that some traders on Huobi need to close their positions.
“This might be due to offboarding pressure by Huobi,” he said.
Arcane Research, a Norwegian cryptocurrency-analysis firm, wrote Tuesday in a weekly report that the Huobi futures contract had previously been one of the most important for bitcoin’s price discovery. “So these developments will present some interesting structural changes in the market onwards,” according to the report.
Huobi has lost significant market share to competitors Binance and OKEx since the start of the year. Huobi’s share of spot-market trading volumes has dropped to 16% from 24%, according to data from Kaiko.
The exchange’s phasing out of Chinese accounts over the coming months could impact its share of volume even more, Kaiko wrote in an Oct. 4research newsletter.
Omkar Godbole contributed to this report. || Cipher to Participate at Upcoming Virtual Investor Conferences: HOUSTON and NEW YORK, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Bitcoin mining company Cipher Mining Inc. (NASDAQ: CIFR) (Cipher) today announced that members of its management team will participate in the following virtual investor conferences: 1st Annual Needham Virtual Crypto Conference September 9, 2021 H. C. Wainwright 23rd Annual Global Investment Conference September 13, 2021 BTIG Future of Digital Assets Conference September 22, 2021 BTIG hosted events are intended for prospective and existing BTIG clients only. To listen to the live event, please contact your BTIG representative with interest. Live webcasts and replays of the presentations will be accessible on the Cipher Investor Relations website at investors.ciphermining.com. About Cipher Cipher is an industrial-scale Bitcoin mining company dedicated to expanding and strengthening the Bitcoin networks critical infrastructure. Its goal is to be the leading Bitcoin mining company in the United States. Cipher aims to leverage our best-in-class technology, market-leading power purchase arrangements, and a seasoned, dedicated senior management team to become the market leader in Bitcoin mining. Forward Looking Statements This document contains certain forward-looking statements within the meaning of the federal securities laws of the U.S. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words believe, project, expect, anticipate, estimate, intend, strategy, future, forecast, opportunity, plan, may, should, will, would, will be, will continue, will likely result, and similar expressions (including the negative versions of such words or expressions). Story continues These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: volatility in the price of Ciphers securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Ciphers business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the documents filed by Cipher from time to time with the U.S. Securities and Exchange Commission (the SEC). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Contacts: Media Contact: Ryan Dicovitsky Dukas Linden Public Relations 908-907-7703 [email protected] Investor Contact: Lori Barker Blueshirt Group [email protected]
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-09-18]
BTC Price: 6371.30, BTC RSI: 42.46
Gold Price: 1196.80, Gold RSI: 46.38
Oil Price: 69.85, Oil RSI: 55.91
[Random Sample of News (last 60 days)]
Bitcoin Holds Above $7,000; Other Cryptos Bullish: Bitcoin was higher on Wednesday. Investing.com - Cryptocurrencies were higher on Wednesday, as the bullish trend continued. Bitcoin rose 0.80% to $7,109.90 on the Bitfinex exchange, as of 8:11 AM ET (12:11 GMT). Still, bitcoin has struggled to gain ground so far this year, falling nearly 70% since its peak of almost $20,000 in December. Virtual coins remain bolstered by news that the U.S. Securities and Exchange Commission will review its decision to reject the applications of Bitcoin exchange traded funds. Cryptocurrencies overall were higher, with the coin market cap of total market capitalization at $232 billion at the time of writing, compared to $228 billion on Tuesday. Ethereum, the second-biggest alternative currency by market cap, rose 2.31% to $295.05, while XRP, the third-largest virtual currency, inched down 0.34% to $0.34819 and Litecoin was at $62.714, up 2.32%. In other news, Colorado is investigating companies for promoting unregistered initial coin offerings in the state. The ICO task force was set up in May. The agency announced Monday that it issued a show-cause notice to three companies (a)s part of an investigation into what has become a trend of allegedly fraudulent companies looking to make quick money. Meanwhile, 42% of the worlds top 50 universities offer at least one course on cryptocurrencies or blockchain, a report from Coinbase found. As the digital coins have grown in popularity, more and more students are asking for more courses on the new technology. David Yermack, chair of the finance department at NYY Stern School of Business, said only 35 students signed up when the school first offered a blockchain course, but now 230 students have signed up. The majority of of universities that offer courses in digital currencies are based in the U.S., with Stanford University topping the list with 10 courses on blockchain and virtual coins. Related Articles Blockchain, Cryptos See Rising Academic Interest: Coinbase Survey ICOs Dry Out in August as Funding Model Starts Feeling Obsolete Hyperbitcoinization: The Path to Total World Demonetization || 0x Gains 12% and Tokens Rise During Volatile Cryptocurrency Markets: Ripple price Uber The crypto market has been extremely volatile over the past 24 hours, especially small tokens and digital assets, possibly due to the decline in volume in the past week. Bitcoin’s Weird Movements Yesterday, on July 21, the price of bitcoin surged from $7,400 to $7,600 in a span of 10 minutes, with a spike demand on major cryptocurrency exchanges including Binance and Bitfinex. However, almost immediately after the spike, the price of bitcoin crashed from the higher end of $7,600 to the lower end of $7,300, bringing along other major digital assets and tokens as well. Since then, the price of bitcoin has been very volatile in the range of $7,400, with decent volume and demand. Still, the volume of bitcoin compared to its volume of last week is relatively low, and has decreased by over a billion dollars in the past 48 hours. Subsequent to its large rally on July 19, the price of bitcoin has struggled to initiate any major movement on the upside, mostly due to the lack of momentum in the crypto exchange market. Ether, Bitcoin Cash, and Ripple in particular have performed poorly against both bitcoin and the US dollar. The volatile movement of the market may open bitcoin and other major cryptocurrencies vulnerable to strong downward movements, and as BitMEX CEO Arthur Hayes emphasized, a drop below the $6,000 mark to bottom out in the $5,500 to $6,000 is still a possibility. “I don’t actually think we’ve seen the worst. I would like to see us test $5,000 to really see if we put a bottom in. But come back in Q3, Q4, I think is when the party is going to start again,” Hayes said. Currently, the market and community are generally optimistic, mostly due to the strong performance of bitcoin since earlier this week, but other major assets and tokens have not been performing as well as bitcoin against the US dollar. Tokens Surge in Price ICON (ICX), 0x (ZRX), and Zilliqa (ZIL) have spiked by 5 to 10 percent on July 21, with ZRX recording a solid performance throughout this week, supported by the intent of Coinbase, the world’s largest crypto exchange to integrate ZRX in the near future. Against bitcoin, ZRX experienced an 8 percent rise in its value, as its dollar price rose from $1.02 to $1.18. Overall, the crypto market is in a positive position to continue its momentum, but as Hayes and other experts have noted, it will need to demonstrate stability before eyeing 20 to 40 percent movements on the upside, and properly bottom out in the lower region. With Samsung accepting crypto in its stores and the G20 moving towards unified regulations around cryptocurrency exchanges, the crypto sector has shown enthusiasm towards the long-term growth of the market. Story continues If the G20 moves to unify crypto regulations by the end of 2018, led by the efforts of the Japanese government, it may lead the crypto market open to a larger group of accredited investors in leading economies. Featured image from Shutterstock. The post 0x Gains 12% and Tokens Rise During Volatile Cryptocurrency Markets appeared first on CCN . View comments || Bitcoin Price Intraday Analysis: BTC/USD in Near-term Rising Wedge: Bitcoin on Friday broke above its psychological resistance level near $6,500 and formed higher highs towards $6,600. The BTC/USD kickstarted the Asian trading session with an impressive rally from 6462-fiat to 6595-fiat. However, the pair failed to sustain the upside momentum near the new resistance and retraced back towards 6400-fiat. As it happened, BTC/USD made lower lows towards 6355-fiat during the early European hours. The session matured with pair attempting a decent bounce back towards the level just shy of 6500-fiat our make-or-break level from August. BTC/USD Technical Analysis As the consecutive upside and downside action prevails, BTC/USD is already forming an irregular rising wedge pattern in near-term. The gap between the upper and lower trendlines is not significantly wide about $150-180 but could provide decent entry/exit positions to watch out. It somewhat is a part of our intraday strategy, but more on it after we go through the technical indicators mood for the rest of the US session. The BTC/USD is currently trending between its 50H and 200H moving average indicators while remaining distantly below the 100H SMA. The fact that 50H SMA is trading below its 100H and 200H counterparts itself points to a medium-term bearish bias in the Bitcoin market. It should continue to remain in one until BTC/USD breaks above the resistance of the giant falling trendline. A rally towards 7000-fiat is possible, after all, before BTC/USD gets to a choice between a breakout and a pullback. At the same time, the pair gets support from a rising trendline forming since early May a potential pullback level should BTC/USD forms a bear pole with respect to its overall downside action. The RSI and Stochastic indicators have hinted a downside correction already. BTC/USD Intraday Analysis As far as our intraday analysis is concerned, we are waiting for BTC/USD to break above 6500-fiat to clear our long target towards 6600-fiat. Should we enter this position, a stop loss just two-pips below the entry point will define our risk management perspective pretty well. 6500-fiat is also a level that keeps us in near-term bias conflict. Hence, we will also be expecting a pullback which would have us enter a short towards the 200H moving average coinciding with the 38.2% Fibonacci retracement level of the last swing from 6203-low and 6578-high. In this position, we will be placing our stop loss 3-pips above the entry point to exit the market on a small loss if bias reverses. Featured image from Shutterstock. Charts from TradingView . The post Bitcoin Price Intraday Analysis: BTC/USD in Near-term Rising Wedge appeared first on CCN . View comments || Elon Musk’s Twitter Account Gets Hacked, Ernst & Young Dive into Blockchain and Cryptos: Elon Musk Twitter account was hacked. Musk, the controversial head ofTesla, is a frequent target of hackers due to his tendency to stand in the limelight regarding his many companies and projects like Tesla, the electric car manufacturer, and SpaceX which builds rockets for NASA.
The hackers who took over Musk’s Twitter account (perhaps his fake Twitter account) offered free Bitcoin and Ethereum as part of a ‘plan’ to take Tesla private. Being a hack the offer was obviously a scam, but the hackers took advantage of Musk’s recent bantering about potentially taking Tesla private may have been able to fool some of the 22.4 million followers Elon Musk has on Twitter. Since then, Musk abandoned his plan to take Tesla private and announced that the company remains public.
The fallout from the hack has not been able to be tracked yet via individuals who may have fallen prey to the criminal hack. However, Twitter quickly responded to the hack on Musk by issuing a statement essentially warning its users once again that any offers of free cryptocurrencies should be viewed with extreme skepticism.
The hacker (or hackers) certainly played into the recent news when Musk ‘threatened’ to take Tesla private.
A few weeks ago during one of his many loud pronouncements to the media and shareholders who question his handling of Tesla and its cash liquidity problems, which have surfaced and raised concerns, Musk said he was seriously considering taking Tesla private and could raise the funds to make this happen.
Musk raised the ire of many, including shareholders with this statement and a legion of people who have become part of an ‘anti-Musk’ vanguard warned lawsuits would greet him. The SEC is also taking a look into Musk’s pronouncements.
However, Musk has made it known this past week that he is not going to attempt to take Tesla private. And the company will remain public. Skeptics surrounding Musk, of which there are many, said it would likely be impossible for Tesla to go private.
A huge amount of money would have been needed to take Tesla private, approximately 80 plus billion U.S Dollars. And it has been suggested, serious questions exist about Tesla’s current cash liquidity situation which is under heavy scrutiny, and those who would have thought about funding the company going private would have likely balked upon seeing the auditing.
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Ernst & Young have moved deeper into blockchain and digital assets with the announcement they are buying cryptocurrency software. Ernst & Young is one of the Big 4 global accounting companies.
The purchase of this software will allow Ernst & Young to expand its cryptocurrency services. The software purchased is from a Silicon Valley company called Elevated Consciousness.
Ernst & Young’s is keen on offering its hedge funds and institutional investors who are clients’ a host of full cryptocurrency auditing procedures.
Hedge funds and institutional investors are focusing an increasing amount of attention on the cryptocurrency and blockchain sector with an eye towards finding profitable avenues of investment for their clients.
They are making direct investments into certain digital assets, finding ways to invest in growing infrastructure projects surrounding blockchain, engaging in trade for clients, and looking at the creation of Indexes and ETFs.
Reality Shares of the U.S, an asset management company, has recently announced that it is launching an ETF based in China. And Reality Shares has also said it will start a cryptocurrency hedge fund using up to 100 million USD as a starting point.
Also, Northern Trust which is a custodian bank is assisting hedge funds to enter the world of cryptocurrency. Northern Trust is a U.S based financial institution with its headquarters in Chicago.
The bank via administrative technology based on an integration of data storage capabilities with the accounting firm PriceWaterhouseCoopers is looking to offer its clients’ full digital asset services.
PwC, which is among the top 4 accounting firms along with Ernst & Young, and is considered among the best top accounting firms consistently.
The news of these two top international accounting and auditing firms getting active within the blockchain and cryptocurrency sectors is another sign of genuine interest is strong as global corporations examine blockchain innovation and its potential benefits.
In the midst of the downturn in value in 2018 which has taken place since the beginning of January, after over-exuberance sending cryptocurrencies sky high in values subsided, hedge funds and institutions are still clearly attracted to the multitude of potential revenue streams blockchain and cryptocurrencies are capable of producing.
Yaron Mazor is a senior analyst atDX.Exchangeand Private Equity Manager
Thisarticlewas originally posted on FX Empire
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• NZD/USD Forex Technical Analysis – Breakout Over .6723 Targets .6803 || Forget Netflix, Cord-Cutters Love This One Company: Netflix is often seen as the face of the cord-cutting movement, a service where you can essentially stream what you want, when you want, for a reasonable monthly fee. With a massive content library that's about to get even larger as the company plans to spend $13 billion on new, original programming, Netflix is a cord-cutter's dream. Yet while the streaming service has the content videophiles are looking for, a recent report on the website Cord Cutters News says there's another company that's beloved every bit as much by people wanting to distance themselves from their cable TV company: Roku (NASDAQ: ROKU) . Woman standing in front of numerous screens Image source: Getty Images. Roku holds the clear lead Results from the industry site's quarterly consumer survey show that when it comes to those looking beyond the cable box, Roku leads the pack. For the third straight year, a sampling of over 2,000 people who have cut the cord shows that more than 70% of them own a Roku device, whether it is one of its streaming devices or a Roku TV. The significance of Roku's dominance is found in what it is going up against. Amazon.com 's (NASDAQ: AMZN) Fire TV is the second most popular streaming device. But with just 35% of those surveyed saying they had one, that puts it far behind the leader. Similarly, just 24% of consumers had Apple 's (NASDAQ: AAPL) Apple TV. The numbers of the survey don't sum to 100% because some consumers have more than one streaming device. The results are supported by TabloTV, which makes DVRs that allow consumers to record any over-the-air broadcast on any device. It tweeted in response to the survey by Cord Cutter News that Roku "also controls 70% of Tablo OTA DVRs!" Taking full advantage Roku is using its leadership position to further grow its business. Advertising is becoming one of the keys to its results, with platform revenue surpassing sales of its streaming players for the first time last quarter. Some $70 billion is spent on television advertising each year, and Roku is anticipating it will grab a growing percentage of that, particularly after launching the advertiser-supported Roku Channel, which has quickly become one of the top 10 channels on Roku devices, based on hours streamed. Citing statistics from Nielsen, Roku says 10% of those 18 to 34 years old in the U.S. can only be reached through the Roku platform. Story continues Beyond just video advertising, Roku display advertising is a growth channel, too. It added 6.6 million new accounts from last year -- a 1.5 million sequential increase -- giving it 21 million active user accounts, half of whom have cut the cord with cable or were never tethered to it in the first place. That suggests streaming apps will pay top dollar for landing on its home screen. Indeed, Cord Cutter News finds that many services launch on Roku first before moving onto other devices. It points to apps from Sling TV and Philo as two examples of apps that made their splash on Roku first, though it also notes that some services surprisingly don't prioritize Roku's platform. Many more plan to switch, too Beyond just cord-cutters, though, investors should also take note of where this race is heading. The survey also found that when it comes to which device consumers were planning to purchase, they chose a Roku more than two-to-one over Amazon's Fire TV. Having combined simplicity and price with its early first-mover status, Roku has created an offering that is hard to beat. It also indicates why the service is smart not to abandon its hardware business as it develops the platform side to become its primary source of revenue. This may not be an exact replica of a razor-and-blade business model, as Roku isn't quite giving away its hardware. But the service has found a way to cut through the noise in the cord-cutter market and land firmly in the forefront of the industry by using the hardware to push advertising. The two-pronged approach ensures that Roku will be the market leader well into the future, and consumers seem thrilled with that outlook. 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. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Apple, and Netflix. 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 . || Coinbase Internal Probe Finds No Evidence Of Bitcoin Cash Insider Trading: A Coinbase internal investigation into alleged insider trading before it listed Bitcoin Cash has found no evidence to support the allegations.
The exchange, which hired two law firms to carry out an in-house investigation of the accusations, has stated that no wrongdoing was found, and it will take no further action.
Since December 2017, America’s largest cryptocurrency exchange has been dogged by a series of accusations surrounding the events of December 20, when it surprised the market by announcing the listing of Bitcoin Cash.
The trouble started when Bitcoin Cash prices suddenly spiked in a heavy and unprecedented manner, driven primarily by a surge in demand from south Korean buyers on December 20.
The same day, Coinbase put out a surprise announcement revealing its decision to list Bitcoin Cash on its platform, despite having previously stated that it would not support the cryptocurrency until January 2018. Traders who bought BCH before the announcement saw their assets more than double in price in just a few minutes. Naturally it did not take long for industry players to begin insinuating that Coinbase knew something about the inexplicable BCH spike just before its announcement.
Bitfury Vice Chairman George Kikvadze was one of such people.
Coinbase immediately announced the launch of an internal investigation, promising to get to the bottom of the matter. To this end the company hired two “well known national law firms” to check whether any of its employees took part in such practises.
Following months of investigation by the law firms, the all-clear comes as a boost to Coinbase, which stood to suffer a great amount of reputational damage as a result of the matter.
The company is eager to point out that the probe completely cleared Coinbase employees of all insider trading allegations and recommended no further action.
In a statement released toFortune,Coinbase said:
“We would not hesitate to terminate an employee or contractor and/or take appropriate legal action if evidence showed our policies were violated. We can report that the voluntary, independent internal investigation has come to a close, and we have determined to take no disciplinary action.”
The company however is not quite out of the woods yet. In March 2018, Arizona resident Jeffrey Berk filed a class action lawsuit alleging professional negligence on the part of Coinbase. The suit seeks a payout of at least $5 million to Berk and other investors like him.
It also places attention on the so-called “Coinbase Effect” where a listing announcement for any digital asset on the exchange results in sharp price increases, such as with Ethereum Classic in June 2018.
July 2017 – Coinbase announces that it will not support BCH and advises investors to redeem their funds.
August 2017 – Coinbase announces partial support for BCH.
December 20, 2017 – Bitcoin Cash records a sudden pricespikedue to a sharp and unexpected rise in demand from South Korea.
December 20, 2017 – Coinbase makes a surprise announcement informing the market that it is listing Bitcoin Cash
December 20, 2017 – Accusations ofinsider tradingbegin to surface as investors and observers smell a rat.
December 20, 2017 – Coinbase announces that it has launched aninternal investigationinto insider trading accusations.
March 2018 – Arizona resident Jeffrey Berkfilesa class action lawsuit against Coinbase in the US District Court for the Northern District of California seeking a payout of more than $5 million on allegations that Coinbase tipped off its employees about its decision to list Bitcoin Cash, enabling them to carry out insider trades ahead of the listing announcement.
Featured image from Coinbase.
The postCoinbase Internal Probe Finds No Evidence Of Bitcoin Cash Insider Tradingappeared first onCCN. || Thailands Largest Movie Theater Chain Will Accept Cryptocurrency: Major Cineplex, Thailands largest movie theater operator, is integrating cryptocurrency payments to allow movie-goers to buy everything from tickets to popcorn with bitcoin and other digital currencies. The endeavor follows a partnership with Swiss fintech developer RapidzPay wherein the multiplex operator will deploy a digital payment ecosystem built by the latter firm to ingrate cryptocurrency payments at point-of-sale (PoS) machines at its theatres, according to Thai publication The Nation . The signing ceremony between RapidzPay and Thailand's Major Cinema Group. We are excited to work with our new partner, Major Cinema Group, to open more doors of opportunities! To the future and beyond! #MAJOR #Thailand #partnership #cryptocurrency #payment pic.twitter.com/1ttQZ6wlCD Rapidzpay (@RapidzPay_) July 4, 2018 Cryptocurrency adopters and holders can send their payments to RapidzPays digital wallet via a mobile app to make those purchases whereas merchants in the same transaction will also be able to use the Swiss firms PoS platform to accept both cryptocurrencies and fiat baht. Major Cineplex owns 678 screens across Thailand including 7 in Camodia and 9 in Laos, with plans to expand to 1,000 screens by 2020, Forbes reports. The chains founder Vicha Poolvaraluck also owns McThai, the company with the developmental licensee for all McDonalds outlets in the country, operating 250 McDonalds restaurants in Thailand. Story continues Major Cineplexs director of marketing Chanya Tamrongweenichai stated: With RapidzPOS and the RapidzPay mobile app, youll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency. RapidzPays memorandum of understanding (MoU) with Major Cineplex follows the Swiss firms own expansion with a new office in Bangkok earlier this month. RapidzPay Bangkok office is now open for business! #cryptocurrency #Thailand #BANGKOK #opportunities #futuretech pic.twitter.com/2RoKhQS5LP Rapidzpay (@RapidzPay_) July 4, 2018 RapidzPay is targeting a million active users in Thailand within the first year of its operations following the launch of its wallet app which allows users to hold, trade and exchange multiple cryptocurrencies as well as buy crypto with fiat. Thailand Warms to Cryptocurrency The developments come at a time when Thailand is proactively emerging as a friendly jurisdiction for the cryptocurrency, blockchain and initial coin offering (ICO) ecosystem, under regulation. Thailands official securities markets regulator said it realized the potential of ICOs in late 2017, hinting at regulation in effect legalization under a rulebook at the time. In March this year, the governor of Thailands central bank confirmed authorities were working on legislation to comprehensively regulate the cryptocurrency sector. To that end, the cabinet of Thailand approved two royal decree drafts aimed at regulating crypto transactions and enforcing taxes on adopters. Thailands tax authority moved to waive a 7% value added tax (VAT) on individual cryptocurrency investors in May, a move certain to encourage further adoption. In a firm nod, the Securities and Exchange Commission (SEC) of Thailand announced an ICO regulatory framework now in effect since July 16 that allows ICO issuers to receive payments in seven cryptocurrencies including Bitcoin, Ethereum and Ripple. The regulators embrace has also seen the primary body of Thailands securities firms plan a joint cryptocurrency exchange in recognizing the growing retail and institutional interest in cryptocurrency trading. Featured image from Shutterstock. The post Thailands Largest Movie Theater Chain Will Accept Cryptocurrency appeared first on CCN . || $10.7 Trillion Custodian Northern Trust Helping Hedge Funds Invest in Bitcoin: Financial services giant Northern Trust, which ranks 486th on the Fortune 500 list of the largest U.S. companies, has begun to wade into the cryptocurrency ecosystem.
Forbesreports that the 129-year-old Chicago-based firm, which caters to institutional investors, corporations, and high net worth individuals, has begun to open up some of its services to cryptocurrency hedge funds while also exploring how to integrate blockchain technology into its private equity division.
According to the publication,Northern Trusthas for months also been working with three “mainstream hedge funds” that have begun stealthily adding cryptocurrency investments to their portfolios as they seek to gain exposure to the nascent but burgeoning crypto marketplace.
Northern Trust has an estimated $10.7 trillion in assets under custody and administration, according to its website. At present, Northern Trust is not custodying cryptoassets directly, but the firm is providing crypto-curious hedge funds and institutions with administrative services such as helping them assign values to their investments, assisting in anti-money laundering (AML) compliance, and verifying that the firms’ third-party custodians are holding the cryptoassets the funds report on their balance sheets.
That revelation, along with the recent news that “Big Four” accounting firm PwC hadagreed to audit the Tezos Foundation, which oversees the assets raised during the cryptocurrency’s then-record initial coin offering (ICO), is the latest sign that established financial services firms are recognizing that the cryptocurrency industry is a market that they can no longer dismiss.
Pete Cherecwich, Northern Trust’s president of corporate and institutional services, told Forbes that while the firm is on record stating that it is “cautious” about blockchain technology, it is also preparing for a future in which governments themselves may issue their state-backed currencies on a blockchain.
“I do believe that governments will ultimately look at digitizing their currencies, and having them trade kind of like a digital token — a token of the U.S. dollar — but the U.S. dollar is still in a vault somewhere, or backed by the government,” he said. “How are they going to do that? I don’t know. But I do believe they are going to get there.”
Cherecwich further said that the firm has a team of more than a dozen technology and private equity specialists who are working to produce a suite of services built on the enterprise version of permissioned blockchain softwareHyperledger Fabric.
Last year, a Northern Trust executive called for “careful” regulation of blockchain technology, cautioning that a “database has never been regulated” and that there is “potential danger” from moving too quickly to place new rules on the industry.
Images from Shutterstock
The post$10.7 Trillion Custodian Northern Trust Helping Hedge Funds Invest in Bitcoinappeared first onCCN. || Spotify Is Making Good Progress Toward This Long-Term Goal: The royalties Spotify Technology (NYSE: SPOT) has to pay to record labels and songwriters just to stream a song have been its biggest roadblock to reaching profitability. While streaming was once a little side business for record labels, the industry has grown reliant on it for revenue growth. Spotify's 180 million users give it considerable leverage with the record industry. To that end, Spotify was able to increase its gross margin to 25.8% in the second quarter. That's 90 basis points above its first-quarter gross margin and a 2.8-percentage-point increase from last year's Q2. Earlier this year, management guided for gross margin between 23% and 25% for the full year. While it does expect margin to fall back due to third-quarter seasonality, it looks like Spotify could come in at the high end of that guidance. Long term, Spotify expects to be able to produce gross margin between 30% and 35%. Considering its 2017 gross margin was just 21%, it's showing excellent progress toward that goal. Spotify Discover Weekly playlist on desktop. Image source: Spotify. How did it get here? Spotify signed new deals with all three major record labels and independent label representative Merlin between April and August of last year. As part of the new deals, Spotify agreed to provide an exclusive window for some of its new releases to its paid subscribers only before releasing new albums to free listeners as well. In exchange, Spotify pays a lower percentage in royalties. Spotify wasn't just looking for a price break with these deals. Competitors like Apple have negotiated exclusive windows for blockbuster albums in the past, which encourages customers to sign up. Apple was initially very aggressive with exclusive deals, but the new record label deals with Spotify mitigated that strategy. Still, it's worth noting Apple has managed to overtake Spotify in paid subscribers in the U.S. While Spotify's new deals may have thwarted one of its rival's competitive advantages (deep pockets for exclusive deals), it will soon lap the financial benefits. It can't rely on the lower royalty rates to further improve gross margin going forward, and investors want to see a path toward 30% gross margin. Story continues Where does Spotify go from here? There are two primary driving forces for Spotify's gross margin improvement going forward: improving its ad-supported user monetization and cutting out the middle man. In its second-quarter letter to shareholders, management noted that "Ad-Supported Gross Margins are relatively strong in our developed markets." Emerging markets, however, remain relatively weak. Overall, ad-supported gross margin was 16.3% last quarter, an improvement of 3.6 percentage points year over year. That's better improvement than the 2.8 percentage point increase in overall gross margin. Further progress in monetizing its emerging market listeners with advertisements ought to help Spotify improve that margin. It should get a natural boost from the secular trend toward digital advertising and the growth of advertising in emerging markets in general. The introduction of its self-serve platform should enable it to attract more advertisers in both emerging and developed markets, leading to higher ad revenue across the board. Long term, the company highlights its efforts to establish itself as a marketplace where musicians can reach fans directly instead of working through a music label. Spotify's early progress in the area is promising, having grown its Spotify for Artists platform to 200,000 musicians -- a doubling over the last six months. Spotify is building various tools to help artists promote and market their albums, songs, merchandise, and live shows. It's also building career management tools for independent artists. Eventually, Spotify thinks it could replace the record label for many artists. That would significantly cut down on royalty payments because there wouldn't be any third party taking its cut. Spotify's happy, artists are happy, and everybody that doesn't work for a record label wins. Both areas are showing strong progress, and investors should expect Spotify's gross margin to keep marching higher over the long term. There will be bumpiness as it runs promotional campaigns throughout the year, so investors should pay closer attention to the year-over-year 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 Adam Levy owns 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 a disclosure policy . || Bitcoin ETFs Are a Terrible Idea, Says Bitcoin Advocate Andreas Antonopoulos: Andreas Antonopoulos Bitcoin ETFs Bitcoin advocate Andreas Antonopoulos offered his opinion on Bitcoin ETFs in a rather foreboding video released on August 14. He first explained the concept of an ETF or exchange-traded fund as a fund that has a custodian or manager that creates a special financial instrument that is similar to a stock. In the case of Bitcoin ETFs the instrument is a fund that holds Bitcoin and sells shares in a bitcoin reserve that represents the price of bitcoin as a stock that can be traded through regular brokerage accounts on the stock market. The custodian holds the actual Bitcoin and the customer buys a share in the funds without having to navigate the often rigorous and complex process of registering for cryptocurrency exchanges, completing KYC, and familiarizing themselves with encrypted keys and wallets. The cryptocurrency space has lauded the inevitable arrival of ETFs as a crucial event that will greatly increase the market cap of cryptocurrency and essentially save cryptocurrency investors and traders from the current bear market, taking cryptocurrency to the next level as a financial market. In his video Antonopoulos outlined in no uncertain terms what he sees as the dangers of Bitcoin ETFs, citing the market manipulation that took over the price action of gold as an example. Im going to burst your bubble. I know a lot of people want to see Bitcoin ETFs because lambos and to the moon and all that. I think its a terrible idea. I still think its going to happen, but I think its a terrible idea. Im actually against Bitcoin ETFs. Apart from the potential of increased market manipulation by major market makers as is seen in the commodities markets, Antonopoulos is concerned over the issue of consensus. Bitcoin holders essentially have the right to vote on certain issues based on which exchanges they choose to trust their coins with, which fork they support, etc. Story continues If there is ever a fork debate, which is very likely to happen again in any cryptocurrency, then the fund that controls that Bitcoin now has a very large voice. Their shareholders dont. They dont get to choose which fork the fund is going to follow in a Bitcoin debate
We already saw that level of influence during the August 1st fork, user activated software forks, Bitcoin cash, the scaling debate
Large custodial exchanges had a very strong voice in the ecosystem. They were able to decide if they were going to support or not on behalf of 10 million customers
an ETF will do that and it will do that on an even bigger scale Centralized fund managers having millions of votes in the Bitcoin ecosystem allowing for manipulation in price action, scaling debates, and forks is the main concern for the Antonopoulous who foresees disagreements over forks between major ETFs leading to splits forming currencies akin to corporate Bitcoin. In a situation where authorities are pressuring the community to make Bitcoin less private and more transparent, it could be the case that an ETF would feel obliged to comply with the regulatory pressure and refuse to adopt privacy measures, creating a separate, corporate Bitcoin market. The prominent Bitcoin advocates views were mirrored by former Wall Street executive Caitlin Long in a CCN interview in which she denounced the involvement of Wall Street financialization in the crypto space due to the bad practices it would inevitably bring. Featured image from Wikimedia. The post Bitcoin ETFs Are a Terrible Idea, Says Bitcoin Advocate Andreas Antonopoulos appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
@Bitcoin_price_8 || @whats_a_bitcoin || @satoshi_BTC || @satoshi_BTC || @btc_fan || @btc_update || @btc_fan || Anybody else seeing this bullish divergence on the 1D for XRP/USDT?! #xrp #usdt #btc #bitcoin #ltc #crypto #cryptocurrency || @lifeoncoin || @satoshi_BTC
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Trend: up || Prices: 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-03-23]
BTC Price: 54738.95, BTC RSI: 51.55
Gold Price: 1724.70, Gold RSI: 41.66
Oil Price: 57.76, Oil RSI: 39.34
[Random Sample of News (last 60 days)]
Booz Allen (BAH) Stock Rallies 39.1% in a Year: Here's Why: Shares of Booz Allen Hamilton Holding Corporation BAH have gained 39.1% over the past year. Lets delve deeper into the factors that have contributed to the companys price performance. Consecutive Earnings & Revenue Beat Booz Allen came up with better-than-expected earnings and revenue performance in five of the past seven quarters. While the companys bottom line benefited from top-line growth, strong contract-level performance and operational management, revenues were aided by sustained demand for the companys services and solutions, and rise in headcount to meet that demand. Raised Fiscal 2021 Guidance Booz Allen has raised its full-year fiscal 2021 guidance on adjusted EPS, adjusted EBITDA margin on revenues and cash from operating activities. Adjusted EPS is now anticipated to be in the range of $3.7-$3.85 compared with the previous guidance of $3.6-3.75. Adjusted EBITDA margin on revenues is anticipated to be in mid-to-high 10% range compared with low-to-mid 10% range projected previously. Operating cash flow is expected in the range of $625-$675 million while the previous projection was $600-$650 million. Differentiated Business Model & Innovative Approaches Booz Allen has developed its solutions business in a way that it creates differentiated business models and sales channels, increases client acquisition, and enhances revenue opportunities. The company also differentiates itself in the talent market so as to attract and retain quality talent from diverse disciplines. These initiatives have enhanced its ability to bring a variety of offerings to the table, which have helped it win highly technical, mission-critical work for federal government business. All these ensure long-term growth. The company is also focusing on areas such as artificial intelligence, advanced engineering, directed energy and modern digital platforms, to drive innovation. It is developing mechanics and infrastructure for new and disruptive business models, which can enhance service quality and client satisfaction. Transformative solutions created by such efforts are expected to significantly enhance future revenue opportunities. Story continues Zacks Rank and Stocks to Consider Booz Allen Hamilton currently carries a Zacks Rank #3 (Hold).You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here . Some better-ranked stocks in the broader Zacks Business Servicessector are Interpublic IPG, Omnicom OMC and Gartner IT each carrying a Zacks Rank #2 (Buy). The long-term expected earnings per share (three to five years) growth rate for Interpublic, Omnicom and Gartner is 2.4%, 4.7% and 13.5%, respectively. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the Internet of Money and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicom Group Inc. (OMC) : Free Stock Analysis Report Interpublic Group of Companies, Inc. The (IPG) : Free Stock Analysis Report Gartner, Inc. (IT) : Free Stock Analysis Report Booz Allen Hamilton Holding Corporation (BAH) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Target (TGT) to Spend $4 Billion Annually in Growth Initiatives: Target CorporationTGT continues to invest in strategic growth endeavors to stay relevant amid changing retail market conditions and enhance consumers’ shopping experience. Progressing along these lines, the company announced its bold investment plan worth $4 billion annually over the next several years. The company plans to invest in new store openings, augment fulfillment services and strengthen supply chain operations. The investment is expected to boost the company’s capabilities and help it sustain sales growth momentum.Management highlighted that 2020 was quite a successful year for the company, thanks to strong demand conditions amid the pandemic. Moreover, strong omni-channel capabilities coupled with a wide range of assortments have been supporting its performance. The company plans to keep building on aspects that has made it a preferred shopping destination for millions of customers. The latest investment plan is expected to aid long-term growth, drive deeper engagement with customers and continue boosting the company’s market share. However, investors seemed skeptical regarding the latest announcement, as shares of the company fell 6.7% during the trading session on Mar 2. The stock has inched down 0.9% in the past three months compared with the industry’s 3.2% decline.That said let’s take a closer look at the initiatives laid down by the company, as part of its gallant plan for strategic growth.
Target’s same-day services have been receiving favorable consumer response. The company plans to keep building on such fast-growth fulfillment options in 2021. It plans on increasing fresh and frozen food assortments available for Drive Up and Order Pickups. Also, adult beverage pickup options will be made available across 800 more stores over the next few months. To enhance customer personalization in the Target app, the company will undertake technological improvements. This includes guidance regarding where to place customer’s orders in their vehicle as well as authorizing a different guest to pick up the orders.
Target prides on its wide range of assortments of owned and exclusive brands, national brand favorites and brand partnerships. During 2020, the company’s 10 owned brands generated annual sales worth $1 billion or more, each. In fact, four such brands generated more than $2 billion during the year. The company plans to build on its brand partnerships, across stores and online. In this context, it plans to build on its strategic relations withUlta Beauty Inc.ULTA by expanding the brand’s footprint across stores. Target plans to open 100 Ulta Beauty at Target shop-in-shops in 2021, with plans to add several more over time. Also, the company is taking its long-drawn relationship withApple Inc.AAPL to the next level. The company is doubling Apple’s footprint across 17 stores and online, with augmented assortments and services. Additional locations are scheduled to roll out the services this fall. We note that Target also holds brand partnerships withWalt Disney CompanyDIS andLevi Strauss & Co.among many others.Moving on, Target plans to open 30-40 new stores each year to meet the growing needs of the society at large. We note that the company opened 30 new stores during 2020, which included 29 small-format stores. The company plans to open more small-formal stores in Urban areas as well as across college and university campuses. Moreover, additional mid-size stores will be opened in dense sub-urban areas. Additionally, the company plans to accelerate its store remodel program. It expects to complete the remodeling of 150 stores by the holiday season his year. In fact, management plans to remodel more than 200 stores a year, beginning in 2022. The refurbished stores will enable improved delivery fulfillment services and will be equipped with increased contactless features.Furthermore, the company plans to boost its fulfillment operations by scaling up the stores-as-hubs model. In this context, the company is testing a sortation center in Minneapolis and expects to add five more of such facilities in 2021. The sortation center collects online orders from local stores and sorts them to different routes for carrier delivery. The process helps removing sorting activity out of store backrooms. Moreover, such facilities are likely to drive fulfillment capacity, reduce last-mile fulfillment costs as well as ramp up delivery.Apart from these, the company is making investments in supply chain to support growth of stores. It plans to open two new distribution centers, this year, while two more are scheduled to be opened in 2022.Clearly, Target’s efforts exemplify that it is committed toward enhancing customers’ shopping experience. This Zacks Rank #2 (Buy) company’s well-chalked assortments, refurbished stores and growing digital capacity are likely to keep it in good shape in the forthcoming periods.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 reportTarget Corporation (TGT) : Free Stock Analysis ReportThe Walt Disney Company (DIS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License: Cryptocurrency exchange operator Huobi has been granted a license from Hong Kong’s Securities and Futures Commission.
• British Virgin Islands-incorporated Huobi Technology HoldingsannouncedThursday that its wholly-owned subsidiary, Huobi Asset Management, had received approval to manage portfolios investing in virtual assets.
• Following the news, Huobi is now launchingbitcoin,ethereumand multi-strategy funds,according toChinese blogger Colin Wu.
• The new funds, along with Huobi’s sizable ecosystem, could bring more traditional Asian investors into the cryptocurrency space, he said.
• Wu raised as a potential issue that Huobi’s “founder cannot leave China and is under investigation.”
• Indeed, in January, multiple sourcestoldCoinDesk a key executive was taken into custody by Chinese police due to an investigation related to the exchange’s over-the-counter trading service.
Read more:Huobi Global Connects to European Banking System via UK’s BCB Group
• Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License
• Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License
• Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License
• Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License || Blockchain Bites: The Rise of the Bitcoin Investment Fund: 1. Qualified investors are plowing money into cryptocurrency-focused investment funds.Yesterday, macro trader Dan Tapiero, most known for his DTAP Capital fund andeye for gold, announceda new $200 million fundcalled 10T Holdings that will make bids on crypto startups.
• CrossTower, a Bermuda-based capital markets firm, is launching abitcoin(BTC) hedge fund that will compete against Grayscale’s Bitcoin Trust (GBTC). The firm has$20 million in assets under managementfrom early investors, with minimum buy-ins set at $100,000. (Grayscale and CoinDesk are both owned by Digital Currency Group.)
• Meanwhile, Stone Ridge Asset Management’s existing bitcoin unit, NYDIG,could see more than $25 billion worth of bitcoinunder management, based on current demand. NYDIG currently manages $6 billion in bitcoin for 280 institutional clients, CEO Ross Stevens said at a MicroStrategy event yesterday.
• But is this the right time to crowd into crypto? In other words, are we at a market top? Well, famed rapper and entrepreneur LL Cool J (along with Paul Tudor Jones and others) signed onto North Island Ventures’ new$72 million fund.
2. PayPal’s cryptocurrency business has beat expectations, according to CEO Dan Schulman during the company’s Q4 earnings call. Launched late last year, PayPal’s (PYPL) crypto services – buying, selling and transacting – volumes have“greatly exceeded” the firm’s initial projections.
• Customers who purchased crypto through the platform have been logging into PayPal twice as often as they were before buying crypto, the company said in its investor update. PayPal gained 16 million new active users since launching crypto, though there may not be a direct causal relationship.
• PayPal Chief Financial Officer John Rainey didn’t deny the possibility of M&A deals in the crypto space while prices are high, but called it part of a “multi-year” strategy. Notably, PayPal’s spending in technology increased year over year by more than 30% to $732 million.
3. Only 16 nations have specific tax policies regarding cryptocurrency, according to a U.S. Library of Congress report examining 31 different jurisdictions. The library’s law division released a report detailing the differences betweenhow nations tax “block rewards.”
• The report found there is a specific disparity between jurisdictions that set policies for coins acquired through mining versus staking, with the latter often being undefined. There is also little unified thinking on whether crypto is taxed as income, capital gains and value-added tax for mined tokens.
• “In order for these technologies to thrive and reach their revolutionary potential we must have the knowledge and organizational landscape of the approaches to regulation,” U.S. Congressman Tom Emmer said in a press release on Wednesday.
Related:Indian Exchanges Launch Campaign Seeking to Avert Potential Crypto Ban
Great debate?Earnings season is upon us, meaning the latest snapshot of publicly traded companies’ financials will come into view. This includes the handful of firms playing around with crypto. As mentioned above, PayPal has seen explosive growth in its newly launched crypto services business.
The fintech giant enabled buying, selling and holding for a number of large-cap cryptos for its 350 million users on Nov. 12, 2020. While the total number of crypto users on the platform or the profitability of this business line aren’t known, the company executives seemed pleased with the decision to enter the market.
In CoinDesk reporter Nathan DiCamillo’sterrific rundown of the company’s earnings report, he included comments from Susquehanna Financial Group regarding merchant crypto adoption on PayPal.
Comparing PayPal’s trading services to Square’s (SQ), Susquehanna noted that the latter’s bitcoin business hasn’t been all that profitable. Although revenues have been growing every quarter, Square doesn’t “really mark it up,” meaning it’s not bringing in much cash from CashApp.
Related:Nigeria's Central Bank Orders Banks to Close Accounts of All Crypto Users
It’s for this reason that Susquehanna is interested in PayPal merchants accepting crypto as part of their business. “Trading is interesting but it’s not nearly as interesting to us as a payments acceptance device. … [PayPal has] incredible merchant volume,” James Friedman, a senior fintech research analyst at Susquehanna, said.
As DiCamillo notes:
“In December 2020, Susquehanna surveyed more than 120 small to medium-sized business owners to poll their interest in adopting bitcoin payments.“More than 70% of respondents said they would accept bitcoin for payment at checkout if PayPal or Square enabled it, but around half of respondents said they believed there would be no impact on their business if they added the feature.“Susquehanna also surveyed more than a 100 American adults on attitudes toward cryptocurrencies… [and] found that nearly half of respondents would not purchase a product or service with cryptocurrency, while 5.5% of them would do so 10 or more times per year.”
The sample size is small, though largely matches the sentiment about bitcoin. Although initially figured as a “peer-to-peer” cash system, in Satoshi’s white paper bitcoin is increasingly seen as a store of value.
Many of the market entrants in 2020 that made headline splashes pointed to bitcoin’s prospects as “digital gold.” Bluford Putnam, chief economist and managing director of CME Group, for instance, went on record saying bitcoin is an“emerging competitor” to gold.
For some bitcoin OGs or outside watchers this trend could subvert the aspects that make bitcoin such a powerful tool for financial freedom.
Responding to Francis Pouliot, CEO of Bull Bitcoin, who said “The next attack [on bitcoin] could very well come from self-proclaimed Bitcoin Maximalists under the cover of the corporate store of value narrative,” Bloomberg’s Joe Weisenthal noted:
“This has been my theory as well. With Bitcoin becoming increasingly corporate, some players in the space may find the cypherpunk/censorship-resistance angle to be an embarrassing distraction.”
“‘Why have private wallets, when Bitcoin can be a SoV in an ETF?’” he said. (The U.S. has yet to accept a bitcoin exchange-traded fund application.)
As mentioned before, PayPal doesn’t let users move bitcoin they’ve purchased off its platform. This introduces a middleman to what exists on its own as a self-contained and uncensorable payments system.
It should be said the bitcoin codebase has been running for 12 years, without downtime, allowing anyone to transact with anyone, without exception. But the corporate environment around bitcoin is still emerging and it’s unknown the total impact it may have on the ecosystem. The tension between corporate actors and a fully decentralized system will be a thing to watch.
Yesterday, Ethereum miners earned $27.75 million in transaction feesas the blockchain’s native currency,ether(ETH) rallied. Theaverage transaction fee was as high as $23.43, the highest it’s ever been (it’s never been above $20, in fact), according to crypto data provider Blockchair. This means it’s more expensive than ever to actually run decentralized applications or send funds using Ethereum – a blessing and curse, experts say.
• “Ethereum miners have been a primary beneficiary of the fee spike,” CoinDesk’s Will Foxley wrote. The industry earned some $830 million in ether last month with 40% attributed from fees alone.
• “There’s a macroeconomic wind blowing – big – it’s gonna impact$400 trillion of capital,” a vibing Michael Saylor told a corporate audience at MicroStrategy’s annual conference.
• Elon Musk’s short Twitter reprieve ended withanother DOGE meme.
• Miami’s mayor announceda flurry of crypto-related policiesthe city is considering.
• Myanmar’s government ismeddling in the internet.
• China leads Africa’s digital currency race. (CoinDesk Opinion)
• Blockchain Bites: The Rise of the Bitcoin Investment Fund
• Blockchain Bites: The Rise of the Bitcoin Investment Fund || FOREX-Dollar dips, Aussie jumps on global growth optimism: * U.S. dollar at three-year lows vs Aussie dollar * Euro-dollar crosses $1.22 * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Rewrites throughout, updates prices, new byline, changes dateline, previous LONDON) By Karen Brettell NEW YORK, Feb 25 (Reuters) - The dollar index fell to a seven-week low on Thursday, the Australian dollar hit a three-year high and safe havens weakened as global growth optimism sent government debt yields surging worldwide. Easy financial conditions, the promise of fiscal stimulus and accelerating COVID-19 vaccine rollouts have boosted expectations that growth and inflation will accelerate. More recently, bond yields after adjusting for inflation have also risen at a faster pace, indicating a growing belief that central banks may begin to pare back their ultra-loose policies, even as central bank officials have maintained their dovish rhetoric. “It has been a global move, I think that’s one part of why the dollar wasn’t rallying even with higher yields,” said Vassili Serebriakov, an FX strategist at UBS in New York. “Those higher bond yields are a symptom of expectations of a strong economic rebound after the pandemic.” The dollar dipped 0.26% against a basket of currencies to 89.797, its lowest since Jan. 8. Data on Thursday showed that fewer Americans filed new claims for unemployment benefits last week amid falling COVID-19 infections. Federal Reserve Chair Jerome Powell reiterated on Wednesday that the U.S. central bank would not tighten its policy until the economy improves. Commodity-linked currencies, including the Australian, New Zealand and Canadian dollars, all hit three-year highs as their bond yields surged. “The U.S. has actually lagged a lot of these other countries in terms of the yield moves,” said Erik Nelson, a macro strategist at Wells Fargo in New York, noting that New Zealand’s 10-year Treasury yield gained 18 basis points on Thursday. That is "pretty stunning," he said. “The commodity space has obviously been very hot recently.” The Aussie got as high as $0.80007 against the greenback while the kiwi reached $0.7463. The Canadian dollar got as far as 1.2468 loonies per U.S. dollar. The euro also gained to a three-week high, despite its bond yield increases lagging other countries. It was last up 0.44% at $1.2224. The safe-haven Japanese yen, which tends to underperform when global growth improves, weakened as far as 106.20 yen per dollar. “Some of the currencies that typically don’t do well in a global rebound are lagging,” Serebriakov said. “There is some differentiation (in dollar weakness), it’s not just across the board the way it was last year when everything was driven by U.S. real yields falling and selling dollars across the board.” Bitcoin was last up 2.67% on the day at $51,080, having recovered some of its losses from the start of the week . ======================================================== Currency bid prices at 10:15AM (1515 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 89.7970 90.0450 -0.26% -0.204% +90.1440 +89.6770 Euro/Dollar $1.2224 $1.2170 +0.44% +0.05% +$1.2244 +$1.2140 Dollar/Yen 106.1600 105.8600 +0.26% +2.76% +106.1900 +105.8800 Euro/Yen 129.76 128.79 +0.75% +2.24% +129.8900 +128.7900 Dollar/Swiss 0.9046 0.9065 -0.20% +2.26% +0.9081 +0.9038 Sterling/Dollar $1.4151 $1.4143 +0.07% +3.59% +$1.4182 +$1.4124 Dollar/Canadian 1.2498 1.2515 -0.14% -1.86% +1.2520 +1.2468 Aussie/Dollar $0.7960 $0.7968 -0.11% +3.46% +$0.8007 +$0.7953 Euro/Swiss 1.1056 1.1029 +0.24% +2.30% +1.1097 +1.1026 Euro/Sterling 0.8635 0.8604 +0.36% -3.38% +0.8655 +0.8597 NZ $0.7435 $0.7443 -0.08% +3.57% +$0.7464 +$0.7420 Dollar/Dollar Dollar/Norway 8.3815 8.3720 -0.11% -2.61% +8.3920 +8.3200 Euro/Norway 10.2450 10.1916 +0.52% -2.12% +10.2548 +10.1759 Dollar/Sweden 8.2396 8.2747 +0.10% +0.53% +8.2831 +8.2067 Euro/Sweden 10.0738 10.0642 +0.10% -0.03% +10.0832 +10.0410 (Reporting by Karen Brettell; editing by Jonathan Oatis) || GLOBAL MARKETS-S&P 500 rises briefly after Powell remarks; U.S. bond yields fall: * U.S. stocks mixed in late afternoon trading * U.S. dollar dropped to two-week low(Recasts with Powell comments, oil settlement prices) By Caroline Valetkevitch NEW YORK, Feb 10 (Reuters) - The S&P 500 rose brieflyWednesday after Federal Reserve Chair Jerome Powell called for amore comprehensive approach to end the jobs crisis, whileTreasury yields tumbled as U.S. data showed inflation stayedbenign in January. MSCI's gauge of stocks across the globe was slightly higherand on track for an eighth day of gains. Bets on more fiscal aid have powered Wall Street's mainindexes to a series of all-time peaks recently, with investorsmoving into sectors such as energy, banks and industrials thatare poised to benefit from a recovering economy. In his remarks to the Economic Club of New York, Powell madea broad call for a "society-wide commitment" to get Americansback to work. "Basically Powell is saying he's not changing his tune, andthat simply means between the combination of an overly friendlyFed and stimulus, that's just adding more enthusiasm to themarketplace," said Peter Cardillo, chief market economist atSpartan Capital Securities in New York. Executives from Robinhood, Melvin Capital and CitadelSecurities are expected to testify before a U.S. House ofRepresentatives panel at a Feb. 18 hearing exploring tradingturmoil in GameStop Corp and other stocks, according toa Reuters report citing two sources familiar with the matter. Interest from retail investors appeared to lift cannabisstocks broadly higher on Wednesday, signaling that the recenttrading frenzy behind Reddit favorites such as GameStop isshifting to other companies. Shares of Tilrayjumped 36%. Earnings contributed to earlier optimism in equitiesmarkets, with French bank Societe Generale among those beatingfourth-quarter profit expectations. Twitter Inc shares were up 12%, a day after thecompany beat Wall Street estimates for quarterly sales andprofit and followed its social media peers to forecast a strongstart to 2021 as ad spending rebounds from a rock bottom. The Dow Jones Industrial Average rose 17.61 points,or 0.06%, to 31,393.44, the S&P 500 lost 7.15 points, or0.18%, to 3,904.08 and the Nasdaq Composite dropped56.96 points, or 0.41%, to 13,950.74. The pan-European STOXX 600 index lost 0.23% andMSCI's gauge of stocks across the globe gained0.13%. Bitcoin, meanwhile, consolidated recent gains onWednesday, trading 3.2% lower at $45,006. It hit a new high of$48,216 on Tuesday following Tesla's disclosure of a$1.5 billion investment in the virtual currency. Story continues The dollar was weighed down by U.S. inflation data, whilebenchmark U.S. Treasury yields also tumbled. The U.S. data showed that inflation stayed benign inJanuary, disappointing investors betting that price pressureswould increase more. The Labor Department said its consumerprice index increased 0.3% last month after climbing a revised0.2% in December. Benchmark 10-year notes last rose 8/32 in priceto yield 1.1293%, from 1.157% late on Tuesday. The dollar index fell 0.032%, with the euro up0.02% to $1.2119. Oil rose, extending its rally for a ninth day, its longestwinning streak in two years, supported by producer supply cutsand hopes vaccine rollouts will drive a recovery in demand. Brent crude rose 38 cents to settle at $61.47 abarrel, while U.S. crude climbed 32 cents to settle at$58.68. Spot gold added 0.2% to $1,840.91 an ounce. (Additional reporting by Elizabeth Howcroft in London and DevikJain and Medha Singh in Bengaluru;Editing by Larry King, Steve Orlofsky, Peter Graff andMarguerita Choy) View comments || The Crypto Daily – Movers and Shakers – March 6th, 2021: Bitcoin , BTC to USD, rose by 0.91% on Friday. Partially reversing a 4.01% slide from Thursday, Bitcoin ended the day at $48,830.0. A bearish start to the day saw Bitcoin slide to an early morning intraday low $46,417.0 before making a move. Bitcoin fell through the first major support level at $46,735 before striking a late intraday high $49,489.0. Falling short of the first major resistance level at $50,909, Bitcoin fell back to $48,600 levels before wrapping up the day at $48,800 levels. The near-term bullish trend remained intact in spite of latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Friday. Ripple’s XRP and Polkadot slid by 5.27% and by 5.47% respectively to lead the way down. Binance Coin (-1.86%), Bitcoin Cash SV (-1.67%), Crypto.com Coin (-2.38%), Ethereum (-0.70%), and Litecoin (-0.16%) also saw red. It was a bullish day for the rest of the majors, however. Cardano’s ADA rallied by 4.20% to lead the way, with Chainlink (+0.57%) also joining Bitcoin in the green. In the current week, the crypto total market fell to a Monday low $1,347bn before rising to a Wednesday high $1,600bn. At the time of writing, the total market cap stood at $1,486bn. Bitcoin’s dominance rose to a Tuesday high 62.40% before falling to a Thursday low 61.06%. At the time of writing, Bitcoin’s dominance stood at 61.45%. This Morning At the time of writing, Bitcoin was up by 0.45% to $49,048.0. A bullish start to the day saw Bitcoin rise from an early morning low $48,826.0 to a high $49,238.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bullish start to the day. At the time of writing, Crypto.com Coin was up by 2.16% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $48,245 to bring the first major resistance level at $50,074 into play. Story continues Support from the broader market would be needed for Bitcoin to break back through to $50,000 levels. Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $52,000 before any pullback. The second major resistance level sits at $51,317. Failure to avoid a fall through the $48,245 pivot would bring the first major support level at $47,002 into play. Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $45,501 and the second major support level at $45,173. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast – Crude Oil Markets Continue to Grind Higher Silver Price Forecast – Silver Markets Test 25 USD Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 6th, 2021 Why Tesla Shares Are Down By 10% Today? Costco Wholesale Misses Earnings Estimates; Analysts Cut Target Price Gold Price Forecast – A Rare Post Crisis Buying Opportunity || Ethereum, Polkadot & Vechain - American Wrap: 2/3/2021: Ethereum Price Breaks $1,600 In Unstoppable Rally Targeting $2,000
Ethereum has just reached a market capitalization of $183 billion for the first time ever after surpassing $1,600 across all major exchanges. ETH bulls aim for at least $2,000 in the short-term and up to $3,123 which is the 261.8% Fibonacci Level that Bitcoin touched after its last rally.
See also:Ripple vs. Ethereum
Polkadot Price Prediction: DOT Is Poised For A Significant Correction To $16, Suggests Technicals
Polkadot has reached a new all-time high on February 3 at $19.83 hitting a market capitalization of over $17.4 billion, almost surpassing XRP which stands at $17.8 billion. Unfortunately, many on-chain metrics and indicators show that Polkadot must face a correction.
Vechain Price Forecast: VET Sees A Breakout And Defends Crucial Support Level Aiming For $0.034
After a rally towards $0.035 that peaked on January 21, Vechain has been under a consolidation period hitting a low of $0.024 on February 1. Since then, the digital asset has recovered significantly and broke out of a parallel channel.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Dogecoin: What Is It, History and How to Buy: dogecoin The world of cryptocurrencies can be a bit intimidating and full of technical language that may scare off some potential investors. One crypto, though, adds a bit of whimsy — Dogecoin, the crypto named after the Doge (pronounced DOJH) meme that was popular around 2013. Outdated meme references and cuddly shiba inus aside, Dogecoin is a very real cryptocurrency with a market cap, as of March 2021, north of $7 billion. Much wow, indeed. You, too, can invest in Dogecoin if you’re interested in an alternative to stocks , bonds and other traditional investments. It should be known, though, that cryptocurrencies have a tendency to be very volatile. To make sure you’re making the best financial choices for you and your family, consider working with a financial advisor . What Is Dogecoin? Dogecoin is an open source, peer-to-peer digital currency. In short, it’s a currency that operates like any other currency — you can exchange it for goods and services at retailers and other firms who accept it, and you can trade it for other currencies, whether they be other cryptos or fiat currencies like the U.S. dollar, the euro or the pound sterling . The difference between a crypto like Dogecoin and a fiat currency like the dollar, though, is that the dollar is backed by the full faith and credit of the U.S. government, while there is no government entity providing Dogecoin with value — only the value derived through supply and demand. As with other cryptos, it is built on a database using a format called blockchain , which is essentially a public record of every transaction in the history of the currency. Each dogecoin is a “token,” though unlike fiat currency, there is no physical representation of the money — just a record on the blockchain of who owns that specific token. When you sell the token or use it for a purchase, the blockchain notes that the token has been transferred to a new owner. How to Buy Dogecoin There are a number of ways to buy Dogecoin. The most common is to buy it on a cryptocurrency exchange. There are many different exchanges, but one of the most commonly used crypto exchanges is Coinbase. However, you can also purchase Dogecoin through more traditional trading platforms like Robinhood . You may also want to download a Dogecoin wallet, available on the currency’s official website. Story continues Another way to get Dogecoin is to use a faucet. These are websites that will give you a small amount of Dogecoin to get started. One common faucet, dogefaucet.com , allows you to request coins every three hours. Finally, you can mine Dogecoin. This essentially means you use your computer to process other Dogecoin transactions and get some coins as payment. This is designed for advance users and requires a fairly powerful computer setup, so take time to read a tutorial on how exactly to mine before you try it. Dogecoin History dogecoin Dogecoin was founded in 2013, and started out as a bit of a troll. It was created by Jackson Palmer, who worked for Adobe in Australia, and was supposed to be somewhat of a joke on the then nascent world of cryptocurrencies — hence the meme-inspired name. Eventually, Portland-based IBM developer Billy Markus heard about the new currency and got permission to build the software that created the Dogecoin many know and love now. Though Dogecoin is still generally thought of as more of a fun diversion instead of a serious investment like some other cryptos , it has had a few moments in the sun. For instance, Dogecoin users donated 27 million dogecoins (worth around $30,000) to help fund the Jamaican bobsled team’s trip to the Sochi Olympics in 2014. More recently, the coin has been hyped by Tesla CEO Elon Musk and now the Dallas Mavericks, owned by business rogue Mark Cuban who announced the team would be accepting Dogecoin as payment. Dogecoin Price History Dogecoin’s all-time high price was at just over $0.08 early in 2021. As of early March 2021, the coin was worth just under $0.06. The price went up in early 2021 partially because of some publicity from investor and entrepreneur Elon Musk. The is a major push among the currency’s diehards to see the price reach $1. As of March 2021, Dogecoin was up more than 29,000% from the price five years earlier. How to Mine Dogecoin As mentioned above, mining for Dogecoin (or any cryptocurrency) is a fairly advanced maneuver that demands some know-how and a powerful, energy-intensive computing setup. Mining essentially involves checking Dogecoin transactions on the blockchain. Multiple people can be trying to process the same transactions, though, so it involves a bit of luck to actually get the reward for completing the check. Should I Trade or Sell Dogecoin? Dogecoin is a much different animal than some other cryptos like Bitcoin . The value is significantly lower, and there is not a limit to the number of coins that will be available, meaning there can be issues with inflation. Still, there can be value in investing in Dogecoin , provided you are aware that the margins for gains on each individual token is going to be fairly low. Just make sure you keep your coins in a reliable wallet. If you want help with investing and aren’t sure where to start, consider finding a financial advisor to guide you. The Bottom Line dogecoin Dogecoin is a slightly less serious approach to the world of cryptocurrencies than Bitcoin. It was started mostly as a laugh, and while it has grown into a very real currency that can be used in many situations, it still maintains some of that sense of rebelliousness. The currency can be mined, purchased or gotten for free from internet faucets. It has a relatively low value, so you’ll have to trade in very high volumes if you are expecting to make a big profit. Tips for Investing No matter what types of investments you are interested in, consider working with a financial advisor. If you don’t have a financial advisor, finding one doesn’t have to be hard. SmartAsset’s matching tool can help you find a financial professional in your area within minutes to make smarter decisions with your money. If you’re ready, get started now . Whether you earn money in cryptocurrencies or on the stock market, you may have to pay capital gains tax. Use SmartAsset’s free capital gains tax calculator to see what you may owe. Photo credit: ©iStock.com/Pedica018, ©iStock.com/BlackJack3D, ©iStock.com/istock_onespirit The post Dogecoin: What Is It, History and How to Buy appeared first on SmartAsset Blog . || How Bitcoin’s Taproot Upgrade Will Improve Technology Across Bitcoin’s Software Stack: Bitcoin’s Taproot upgrade is (basically) a shoe-in as Bitcoin stakeholders figure out the best way to bring it online.
Digital signatures are created from the private keys that controlbitcoinwallets and are required to approve transactions. Taproot addresses will useSchnorr signatures, rather than Bitcoin’s current signature algorithm, the elliptic curve digital signature algorithm, or ECDSA for short.
In terms of data and processing, Schnorr signatures are smaller and faster than ECDSA signatures and also have the added benefit of being “linear,” which means Schnorr-based smart contracts can be optimized for functions that ECDSA signatures cannot.
Related:Japan’s SBI Adds XRP to Cryptocurrency Lending Service
These differences have made Taproot a highly anticipated upgrade because it will give Bitcoin a boost to transaction privacy and allow for more lightweight and complex “smart contracts” (an encoded contract with self-executing rules).
The tooling and coding improvements Taproot brings will be largely under the hood and will be a boon to developers. Regular Bitcoin users, however, will also benefit from usability, performance, and privacy improvements to multisignature (multisig) technology, privacy software and even scaling tech like the Lightning Network.
Without Taproot, applying the following upgrades to these softwares would either not be possible or not be as viable.
Bitcoin development hub Blockstream is developing a new multisig software, MuSig2, which will make multisig transactions more efficient, cheaper and more private.
Related:US Library of Congress Says Most Countries Lack Clear Tax Guidance on Crypto Staking
Unlike usual Bitcoin wallets, which only require a single signature from a private key, multisig wallets require at least two or more signatures from different private keys to approve a transaction. The idea is to distribute the risk of a wallet among multiple keys and, if needed, multiple parties.
Under the current design with ECDSA contracts, multisig transactions record the signature of each multisig participant individually. Schnorr signatures would allow each signature to be recorded as one signature on the blockchain, making the transactions more lightweight in data, and thus cheaper.
“[Taproot] benefits multisig wallets such as Blockstream Green because using MuSig2 is cheaper and more private than current multisig setups,” Blockstream researcher and applied cryptographer Jonas Nick told CoinDesk.
The Bitcoin upgrade will also raise the limit on signers a multisig wallet allows from 15 to a “much higher number,” said Bitcoin developer Chris Belcher.
Schnorr-signature based transactions are more private because, thanks to so-called scriptless scripts, all Taproot transactions have the same digital footprint. That means a single signature transaction and a multisig transaction look the same on the blockchain under Taproot’s rules.
This privacy improvement spills over into other areas of Bitcoin’s development, too.
“MuSig2 also improves efficiency of multi-party contracts such as Lightning Channels, CoinSwaps or discrete log contracts, and improves the privacy of routing in the Lightning Network by enabling ‘scriptless scripts.’ This also means that the anonymity set of regular transactions would become larger because, for a blockchain observer, it could just as well be part of a multi-party contract or multisig wallet,” Nick said.
All of the softwares Nick referenced rely on multisig wallets to bind market participants in cryptographically reinforced rules of engagement called smart contracts.
One of these, the privacy protocol CoinSwap, is widely considered to be the best successor to CoinJoin, currently the most popular software for “mixing” bitcoins to obscure their transaction history.
One shortcoming of CoinSwap’s precursors including CoinJoin is such transactions show up as distinctly different from normal ones. This makes it easier forblockchain analysisto pinpoint CoinJoins on-chain, thwarting any privacy benefits.
According to Belcher, Bitcoin’s Taproot upgrade will fix this problem.
“A good benefit of Taproot is also that it allows scriptless scripts. As you may know, protocols like Lightning Network and CoinSwap depend on so-called hash time locked contracts. Currently these contracts are visible on the blockchain. The thing that scriptless scripts allows is for those contracts to also look exactly the same as a Taproot single-sig transaction.”
As Belcher points out, Bitcoin’s Lightning Network uses hash time locked contracts (HTLCs) to facilitate transactions. But Schnorr Signatures would pave the way for point time lock contracts (PTLCs), an improvement on HTLCs that allow for more private and efficient smart contracts for Lightning.
The privacy gain comes from a modification to how Lightning Network nodes “route” transactions. Lightning transactions must be sent directly and peer-to-peer on what are called “payment channels.” Otherwise, lacking this direct connection, payments must be routed through peers to which both the sender and receiver are connected.
Lightning Network nodes route transactions by passing on a hash of the payment to each node on that payment’s path. PTLCs alter this hash by adding random info at each hop to make the payment less traceable to any party conducting blockchain surveillance.
Additionally, PTLCs will enable more complex smart contract logic to facilitate unprecedented blockchain escrow conditions and to improve oracles. (Since a blockchain can’t process data outside of its network, an oracle feeds this data to it.)
“Technically, [PTLCs] could be done today with ECDSA but it doesn’t have the same proven security, and if it was implemented it would have to be redone once we get Taproot,” Ben Carman, a developer at Suredbits, told CoinDesk.
Carman and his colleagues at Suredbits have been working on discrete log contracts (DLCs), a fairly new smart contract logic for Bitcoin that, while working today, will be more flexible and easier to use when Bitcoin’s Taproot upgrade kicks in.
Belcher told CoinDesk that Schnorr signatures will also enable “batched validation” wherein a Bitcoin full node could “validate 1,000 Taproot signatures in nearly the same time it takes to validate one [ECDSA] signature.” This scaling solution would significantly speed the time it takes a node to verify all signatures in a block.
Additionally, Taproot could use “ring signatures” to give users the ability to prove they own certain coins without having to reveal the public key associated with those coins.
“That means someone could prove that they own a certain coin without revealing which exact coin. For example, it would be possible to prove you own at least 1 BTC (or any amount) by doing a ring signature over all the Taproot [unspent transactions] worth more than 1 BTC, and yet it doesn’t actually reveal which is yours,” Belcher said.
This has implications particularly for Lightning Network node operators who want to prove payment channel ownership without sacrificing privacy.
• How Bitcoin’s Taproot Upgrade Will Improve Technology Across Bitcoin’s Software Stack
• How Bitcoin’s Taproot Upgrade Will Improve Technology Across Bitcoin’s Software Stack
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31
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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.
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[Technical Analysis for 2020-10-28]
BTC Price: 13271.29, BTC RSI: 72.54
Gold Price: 1876.20, Gold RSI: 41.51
Oil Price: 37.39, Oil RSI: 39.51
[Random Sample of News (last 60 days)]
Market Wrap: Bitcoin Surges on Square News to $10.9K; December Ether Options Pile Up: Bitcoin is flashing green as Square converts some of its cash to crypto while ether options traders are making lots of bets for December expiration. Bitcoin (BTC) trading around $10,890 as of 20:00 UTC (4 p.m. ET). Gaining 2.1% over the previous 24 hours. Bitcoin’s 24-hour range: $10,532-$10,962 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price popped Thursday, led higher almost immediately following the announcement that payments firm Square had invested $50 million to purchase 4,709 BTC. The development pushed the price per 1 BTC to as high as $10,962 before settling to $10,890 as of press time. Read More: Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment Related: Bitcoin Must Now Beat $11.2K for Bull Revival, Say Analysts “News that Jack Dorsey’s Square has purchased about $50 million worth of bitcoin is a definite positive that appears to have driven markets higher on the back of positive sentiment,” said Guy Hirsch, USA managing director of multi-asset brokerage eToro. “Dorsey has long been an advocate of the largest cryptocurrency, and this move reaffirms his bullish stance, and Square’s.” The stock price of Square (NYSE: SQ) also rose Thursday, in the green 1.8% at the close of trading today. “Seeing traditional institutional firms such as Square invest into bitcoin to hold on their balance sheet after a publicly traded company such as MicroStrategy purchased $250 million worth of bitcoin as a ‘hedge against inflation’ brings significant credibility to bitcoin,” said Michael Gord, chief executive of trading firm Global Digital Assets. “The CEO of MicroStrategy even went so far as to call bitcoin superior to cash”. If indeed these investments are a bet against fiat, the U.S. Dollar Index (DXY), a measure of the greenback versus a mix of other currencies, is one metric to watch. Though it has picked up since a late-August low, it’s still in the relative doldrums for 2020 and was flat, in the red 0.02% as of press time Thursday. Story continues The positive market sentiment has certainly translated into higher-than-average bitcoin daily spot volume. Major exchanges already have $332 million in volume so far Thursday, higher than the $284 daily average in the past month. Related: First Mover: Bitcoin Hits $11K as Square Exposes $2.3T Corporate Money Pot While bitcoin volume is up Thursday, volatility remains low. In the options market, six-month at-the-money (ATM) volatility, the difference between option strikes to the price of bitcoin, is at 65%. The last time it was that low was back on July 31. “The buy pressure from institutional investors is increasing, so we are seeing a nice ramp up,” said Marc Fleury, CEO of Two Prime, a crypto asset management firm. “We seem to be entering an era of a low-volatility bull market.” Lots of ether options for December expiration Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Thursday trading around $351 and climbing 3.3% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: As DeFi Deflates, Ethereum Users Get Reprieve From Soaring Fees Ether options traders are heavily betting on the asset’s price at the end of the year. Over 473,500 ETH in open interest is set for expiration on Dec. 25, which is approximately $166,023,00 worth of options at Thursday’s spot prices. Vishal Shah, an options trader and founder of derivatives exchange Alpha 5, says traders started piling up ether options positions for December a while ago. “It really started gearing up with DeFi a few months back,” he said. There’s two main reasons for the options bets, Shah added. “It’s either a levered play on DeFi doing well, or as a tail hedge against impermanent losses,” he said. Impermanent loss is when an investor contributes to a liquidity pool and can temporarily be worse off than actually just holding the asset due to protocol imbalances. Other markets Digital assets on the CoinDesk 20 are mostly green Thursday. Notable winners as of 20:00 UTC (4:00 p.m. ET): chainlink (LINK) + 6.4% bitcoin cash (BCH) + 5.7% tezos (XTZ) + 4.2% One notable loser as of 20:00 UTC (4:00 p.m. ET): eos (EOS) – 0.46% Read More: BitMEX CEO Arthur Hayes Leaves Role After US Charges Equities: Asia’s Nikkei 225 closed in the green 0.96%, boosted by investor optimism after U.S. President Donald Trump tweeted support for further economic stimulus . Europe’s FTSE 100 ended the day climbing 0.53%, led higher by gains in telecom firm TalkTalk Group, up 17% amid talks of a shareholder takeover . In the United States the S&P 500 ended the trading day up 0.80% as policymakers continued talks on fresh economic stimulus . Commodities: Oil was up 3%. Price per barrel of West Texas Intermediate crude: $41.23. Gold was in the green 0.37% and at $1,894 as of press time. Treasurys: U.S. Treasury bond yields all fell Thursady. Yields, which move in the opposite direction as price, were down most on the two-year, dipping to 0.147 and in the red 8.5%. Related Stories Market Wrap: Bitcoin Surges on Square News to $10.9K; December Ether Options Pile Up Market Wrap: Bitcoin Surges on Square News to $10.9K; December Ether Options Pile Up || SEC Charges Rapper TI With Securities Violations for Promoting 2017 ICO: The U.S. Securities and Exchange Commission (SEC) charged two crypto startups and eight individuals including rapper Clifford Harris Jr., more commonly known as T.I., with violating the Securities Act of 1933 and other charges due to their involvement with a pair of initial coin offerings (ICOs). The SEC alleged Friday that film producer Ryan Felton misappropriated funds and wash traded cryptocurrencies using the proceeds from two ICOs: FLiK, a digital streaming platform, and CoinSpark, a digital asset trading platform. TI and Atlanta residents Owen Smith, Chance White and William Spark, Jr. are charged with violating securities law for recommending investors buy tokens from one or the other of the sales without disclosing they were paid by the projects. There are three relief defendants as well. Seven of the individuals, including T.I., settled their charges with the ICO. Related: Bitcoin News Roundup for Sept. 14, 2020 The FLiK ICO raised about 539 ether (ETH), worth $164,665 at the time (late September 2018), while the CoinSpark ICO raised about 460 ether, worth about $282,418 in 2018, the SEC said in a separate complaint . Felton now faces fraud and manipulation charges, according to the SEC. T.I. “offered and sold FLiK” tokens, pretending to co-own the business and encouraging his followers to invest in the project. At least one of the other respondents appears to be T.I.’s employees – social media manager Sparks. Read more: Self-Help Firm That Mostly Took Bitcoin as Payment Mostly Just Helped Itself, SEC Charges Related: How to Watch INX's IPO in Real Time on the Ethereum Blockchain The rapper has agreed to pay a $75,000 fine and not participate in any digital asset sales for at least five years; Sparks agreed to pay a $25,000 fine and likewise refrain from participating in any securities sales for five years. Friday’s actions continue the SEC’s trend of bringing charges against founders who took investor funds for personal use after the 2017 and early 2018 cryptocurrency bull run. Related Stories SEC Charges Rapper TI With Securities Violations for Promoting 2017 ICO SEC Charges Rapper TI With Securities Violations for Promoting 2017 ICO || Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied: The District Court for the Southern District of Florida has denied Craig Wright’s request for summary judgment in a case that involves claims over ownership of about 1.1 millionbitcoin(worth over $11 billion).
In anordersigned on Monday, Judge Beth Bloom at the Florida court denied Wright’s motion seeking summary judgment that would have prevented the matter from proceeding to a full trial.
• The case, first brought in 2018, involves the plaintiff Ira Kleiman’s argument on behalf of the estate of his late brother David, that half of Wright’s bitcoin worth and intellectual property belongs to Kleiman. The plaintiff has argued that the bitcoin in question was also mined together by Wright and Kleiman.
• Wright’s request for summary judgment was comprised of six claims including statute of limitations, the plaintiff’s inability to prove the existence of an oral partnership and the court’s lack of subject matter jurisdiction.
• In the past, Wright has claimed that he was the inventor of bitcoin under the pseudonym Satoshi Nakamoto, an assertion many in the crypto world have disputed due to a lack of corroborating evidence.
• According to anorderissued by the Florida court on Sept. 4, the trial involving Wright’s bitcoin fortune has now been moved to Jan. 4, 2021.
• Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied
• Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied
• Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied
• Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied || Paxful, Turkey-Based BiLira, Cointral to Expand Crypto Offerings in Eastern Europe: Peer-to-peer crypto marketplace Paxful said it’s partnering with BiLira, the group behind the Turkish lira-backed stablecoin bilira (TYRB), and crypto trading platform Cointral as part of a push to trade cryptocurrencies in Eastern Europe.
Paxful said the move follows strong growth in trading registrations by Turkish users over the past year. Both BiLira and Cointral are based in Turkey.
In an emailed statement, Paxful said it recorded an average monthly trading volume of over $65,000 in Turkey.
• Paxful said under the partnership with BiLira, users will be able to and sell bitcoin (BTC) and tether (USDT) using the bilira stablecoin. “Bitcoin can be used to preserve wealth against instability surrounding the Turkish lira,” said Ray Youssef, CEO of Paxful, in an emailed statement.
• Through its partnership with Cointral, Paxful said its web-based kiosk would be integrated with Cointral’s trading platform, allowing users to make payments with bank transfers and gift cards, among others.
• Paxful, Turkey-Based BiLira, Cointral to Expand Crypto Offerings in Eastern Europe
• Paxful, Turkey-Based BiLira, Cointral to Expand Crypto Offerings in Eastern Europe
• Paxful, Turkey-Based BiLira, Cointral to Expand Crypto Offerings in Eastern Europe
• Paxful, Turkey-Based BiLira, Cointral to Expand Crypto Offerings in Eastern Europe || Tezos Investors Win $25M Settlement in Court Case Over $230M ICO: A lawsuit alleging the Tezos initial coin offering (ICO) that raised $232 million in 2017 was an unregistered securities sale has been settled. The Swiss-based Tezos Foundation, as well as the projects founders, Arthur and Kathleen Breitman, agreed to settle the case Friday. While the Breitmans were involved parties, the Tezos Foundation paid the entire settlement amount of $25 million. The presiding judge ratified the settlement agreement which was first proposed in March the same day. The complaint, a class action for those who invested in the Tezos ICO, alleged defendants violated U.S. securities law by hosting an unregistered sale. Allegations were first brought against the Tezos Foundation in late 2017 months after the ICO concluded. Crucially, the settlement means the court has not ruled on whether the Tezos ICO was an unregistered securities sale. In a separate filing, lead plaintiff Trigon Trading argued settlement actually saved both parties, and the court, much work determining the regulatory status of token offerings, like Tezos, and whether they counted as securities sales. Per Fridays order, the plaintiffs attorneys will take more than $8.5 million, a third of the total settlement, in fees and expenses. Save small awards to the lead plaintiff, Trigon Trading, and other key figures, the remaining $16.5 million will be divided among those who invested in the Tezos ICO and had a monetary loss. Those who gained from their investment, through selling at a profit or staking (dubbed baking) their XTZ tokens will not be able to claim damages. Trigon described the $25 million settlement as an excellent result for Tezos investors. See also: Tezos Foundation Offloaded Millions of Dollars Worth of Bitcoin in 2019: Report Read the order here: Related: Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume UPDATE (Sept. 1, 14:20 UTC): This article has been updated to clarify that the Tezos Foundation paid the $25 million settlement . Related Stories Tezos Investors Win $25M Settlement in Court Case Over $230M ICO Tezos Investors Win $25M Settlement in Court Case Over $230M ICO Tezos Investors Win $25M Settlement in Court Case Over $230M ICO || Uniswap Rises to Top of DeFi Charts Thanks to Rival Looking to Unseat It: Avampireprotocol has driven Uniswap to the top of the decentralized finance (DeFi) charts.
As of roughly 21:00 UTC, the automated market maker (AMM) has $1.65 billion in total value locked, according to DeFi Pulse, unseating lending platformAave.
Sources with knowledge of the situation tell CoinDesk this is driven largely by a new Uniswap competitor,SushiSwap. One of the newer members of theWeird DeFicohort is predicated on giving rewards in perpetuity to holders of its sushi (SUSHI) token.
Related:First Mover: Bitcoin Tumbles, Bithumb Reportedly Raided, Uniswap Challenges Coinbase
Read more:Yearn, YAM and the Rise of Crypto’s ‘Weird DeFi’ Moment
According to an announcementon Medium, for roughly two weeks (100,000 blocks) ahead of launch, Ethereum users who stake liquidity provider (LP) tokens from Uniswap to SushiSwap will get 10X the liquidity mining rewards in the early going (1,000 SUSHI per block now versus 100 sushi after launch).
Right now SushiSwap is distributing rewards for LP tokens on ETH pools matched with USDT, USDC, AMPL, DAI, LINK, YFI and others. SUSHI holders will be able to vote-in more pools later.
Liquidity mining is when users get a new token for depositing their assets somewhere. What SushiSwap is doing is new. So, by dumping assets into Uniswap now, DeFi degens can amass LP tokens, which they can dump immediately into SUSHI and take advantage of this brief period of extremely generous SUSHI distribution.
Related:DeFi Flippening Comes to Exchanges as Uniswap Topples Coinbase in Trading Volume
Read more:How DeFi ‘Degens’ Are Gaming Ethereum’s Money Legos
Once the bonus period ends, SushiSwap will redeem all the Uniswap LP tokens and move its rival’s assets over to SushiSwap’s own pools, which is why some in the community are calling it “vampire mining.”
Whereas Uniswap keeps 0.3% of every trade and distributes it to liquidity providers, Sushi will distribute 0.25% to liquidity providers and the rest to SUSHI holders.
DeFi Pulse always notes the “dominance” of the leading project. Uniswap dominance currently sits at 17.5%.
• Uniswap Rises to Top of DeFi Charts Thanks to Rival Looking to Unseat It
• Uniswap Rises to Top of DeFi Charts Thanks to Rival Looking to Unseat It || Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin: Israeli bitcoiners take note: a handful of Knesset members are seeking to ease Israel’s hefty taxation of cryptocurrencies.
Four Knesset members from the nationalist Yisrael Beiteinu party on Tuesday introduced a draft bill that would effectively end Israel’s 25% capital gains tax on bitcoin by redefining certain “distributed digital currencies” as currency, instead of a taxable asset.
• The proposed re-designation applies to cryptocurrencies with: a distributed issuance network, a 1 billion shekel ($288 million) market cap or more, a general use purpose and an independent origin story.
• Bitcoin and certain other cryptocurrencies meet these criteria, according to the bill authors: Oded Forer, Evgeny Sova, Yulia Malinovsky and Alex Kushnir.
• “This regulatory clarity will create commercial certainty and allow more digital currencies to enter the Israeli market,” the lawmakers wrote in their proposal.
• Defining cryptos as currency would simplify Israeli bitcoiners’ tax burden and make qualifying coins a more attractive payment mechanism, according to the measure.
• The Yisrael Beiteinu party is part of Israel’s parliamentary opposition, making passage unlikely without backing from members of the majority.
• Forer did not respond to a request for additional comment.
Read more:Israeli Court Rules Bitcoin Is an Asset in Feud Over Tax Payment
• Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin
• Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin
• Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin
• Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin || PayPal: Bitcoin Will Drive Engagement but Not Much Profit, Says Analyst: The secular shift to digital payments got further confirmation on Wednesday when PayPal (PYPL) announced it will launch a cryptocurrency service on its platform.
Account holders will be able to buy and sell digital assets and use them to make purchases from the service’s 26 million merchants across the globe.
PayPal has been granted a conditional Bitlicense from the New York State Department of Financial Services, and will initially add Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The company is partnering with cryptocurrency firm Paxos, who will be responsible for the trading and custody of the assets.
The move should be a win-win both for PayPal and crypto enthusiasts who can make use of PayPal's huge network of merchants on a platform that currently boasts 325 million active accounts.
The service should become available to US users over the coming weeks while the Venmo app and several international markets will be added during the first half of next year.
Allowing for Bitcoin trading has already been a boon for rival digital payment company Square (SQ). Square’s Cash App enabled Bitcoin trading in early 2018 and since then has significantly increased engagement and monetization, estimated to be 3 times as much as that of Venmo, PayPal’s equivalent.
PayPal has obviously been keeping an eye on developments and hopes to emulate its success.
However, Rosenblatt analystSean Horgantempers investors’ expectations of a large uptick in profit.
“While we view this as a positive development for PYPL, we remind clients that bitcoin trading is an engagement driver and is likely to provide indirect revenue via customer acquisition/engagement,” the analyst said. “While revenues may see a large step up similar to SQ has, accounting rules require the reported (and perhaps misleading) revenues will likely represent an immaterial amount of operating profit as bitcoin volumes are virtually priced at cost.”
Overall, Wall Street loves this stock, earning a stellar analyst consensus rating, as TipRanks analytics demonstrate PYPL as a Strong Buy. Out of 30 analysts polled in the last 3 months, 25 are bullish, while 5 remain sidelined. With a return potential of 9%, the stock's consensus target price stands at $223.54. (See PayPal stock analysis on TipRanks)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || PayPal to let you buy and sell cryptocurrencies in the US: PayPalhas partnered with cryptocurrency companyPaxostolauncha new service. PayPal users in the U.S. will soon be able to buy, hold and sell cryptocurrencies. More countries are coming soon.
PayPal plans to support Bitcoin, Ethereum, Bitcoin Cash and Litecoin at first. You’ll be able to connect to your PayPal account to buy and sell cryptocurrencies. Behind the scenes,Paxostakes careof trading and custody.
In early 2021, PayPal wants to let you use your crypto assets as a funding source for your PayPal purchases. This could be a good way to use cryptocurrencies for everyday purchases without having to convert cryptocurrencies on an exchange first.
There are 26 million merchants that offer PayPal around the world. For those merchants, customers paying in crypto won’t have any impact. Everything will be converted to fiat currency when a transaction is settled.
As part of today’s move, PayPal has been granted a conditional BitLicense by the New York State Department of Financial Service. It should be able to launch its crypto service in partnership with Paxos in New York.
PayPal’s crypto service is rolling out progressively. You can head over to PayPal’s website and join thewaitlist. Everybody should be able to access crypto-related features within the next month or so. The company has alreadyupdated its feeswith more details about cryptocurrency exchange fees.
The company will charge high fees on fiat-to-cryptocurrency and cryptocurrency-to-fiat exchange transactions. You can expect to pay 2.3% for transactions below $100, 2% for transactions between $100 and $200, 1.8% for transactions between $200 and $1,000 and 1.5% for transactions above $1,000. There’s a minimum fee of $0.50 for transactions below $25. The page also says there will be some spread between buy and sell prices. Fees will be waived until 2021.
As a comparison, Coinbasecharges1.49% in conversion fees for any transaction over $200, and a fixed fee below that amount. Buying crypto assets with a debit card is much more expensive, as Coinbase charges 3.99%. Square’s Cash App charges variable fees and Robinhoodhidesits fees behind some markup on market prices.
Revolut partners with Paxos to bring cryptocurrency trading to the US
Revolut, which alsopartnerswith Paxos in the U.S. to offer cryptocurrency trading, charges 2.5 to 3% in exchange fees for free customers. If you’re a premium user, you pay 1.5% in fees.
Many companies have been trying to build the PayPal of crypto. It turns out that the PayPal of crypto could just be PayPal. || The Crypto Daily – Movers and Shakers – October 4th, 2020: Bitcoin, BTC to USD, slipped by 0.26% on Saturday. Following on from a 0.44% decline on Friday, Bitcoin ended the day at $10,558.6. It was a relatively range-bound day on Saturday. Bitcoin fell to a mid-morning intraday low $10,513.0 before finding support. Steering clear of the first major support level at $10,423, Bitcoin rose to a late afternoon intraday high $10,616.0. Falling well short of the first major resistance level at $10,718, Bitcoin fell back to sub-$10,600 levels and into the red. 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 mixed day on Saturday. Binance Coin rose by 3.18% to lead the way. Cardano’s ADA (+0.52%), Chainlink (+0.52%), Ethereum (+0.13%), and Litecoin (+1.47%) also found support. It was a bearish day for the rest of the majors, however. Polkadot slid by 1.28% to lead the way down. Bitcoin Cash ABC (-0.93%), Bitcoin Cash SV (-0.36%), Crypto.com Coin (-0.14%), and Ripple’s XRP (-0.57%) also joined Bitcoin in the red. In the current week, the crypto total market rose to a Thursday high $344.75bn before falling to a Friday low $320.20bn. At the time of writing, the total market cap stood at $328.15bn. Bitcoin’s dominance fell to a Thursday low 58.78% before rising to a Friday high 59.99%. At the time of writing, Bitcoin’s dominance stood at 59.55%. This Morning At the time of writing, Bitcoin was up by 0.20% to $10,579.4. A mixed start to the day saw Bitcoin fall to an early morning low $10,541.0 before rising to a high $10,580.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash ABC (-0.35%), Bitcoin Cash SV (-0.59%), Cardano’s ADA (-0.29%), Chainlink (-0.51%), Polkadot (-0.48%), and Ripple’s XRP (-0.03%) saw red early on. Story continues It was a bullish start for the rest of the majors, however. At the time of writing, Binance Coin was up by 0.54% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall back through the pivot level at $10,563 to bring the first major resistance level at $10,612 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $10,600 levels. 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 the second major resistance level at $10,666 and resistance at $10,700 before any pullback. Failure to avoid a fall back through the $10,563 pivot would bring the first major support level at $10,509 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,400 support levels. The second major support level at $10,460 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead – U.S Politics, Trump, Brexit, and Economic Data in Focus Gold Price Prediction – Prices Ease Following Soft Payroll Report Gold Price Futures (GC) Technical Analysis – Strengthens Over $1917.40, Weakens Under $1889.70 Crude Oil Weekly Price Forecast – Crude Oil Continue to Soften Silver Weekly Price Forecast – Silver Markets Rally Slightly Natural Gas Weekly Price Forecast – Natural Gas Continue Same Range
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75
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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 2016-12-06]
BTC Price: 764.22, BTC RSI: 60.98
Gold Price: 1167.60, Gold RSI: 26.88
Oil Price: 50.93, Oil RSI: 60.66
[Random Sample of News (last 60 days)]
Bitcoin price soars, but it isn't about Trump and Clinton: The price of bitcoin has soared 23% in the last month and is now approaching its 2016 peak of around $765 in June. The coin is up 66% since January. At its current price of $728 at the time of writing, bitcoin’s market cap is nearly $12 billion.
So, what’s stoking the ride?
You might think the US presidential election, just five days away now, has something to do with it. And indeed, aJuniper Research studyfrom back in May (“Will Bitcoins Bite Back?“) predicted the bitcoin price would spike right before the election, due to market uncertainty. Specifically, the study determined that a win by Donald Trump would boost the bitcoin price: “If Donald Trump becomes President of the US, there is the very real prospect of turmoil on world markets,” said Dr. Winslow Holden in a Juniper press release about the report. “Bitcoin would thrive in such an environment, at least until the impact on major fiat currencies becomes clear.”
Meanwhile, Hillary Clinton’s campaign considered accepting donations in the form of bitcoin, aleaked email thread revealed. But John Podesta was more intrigued by the digital currency Ven, writing: “I don’t send all the crazy ideas I hear about at fundraisers your way, but this seems interesting and legit. Essentially digital currency with a green angle as opposed to bitcoin’s libertarian Ayn Rand schtick… see if it’s worth a real conversation?” UltimatelyClinton’s campaign decided not to accept bitcoin.Trump’s campaign did accept bitcoin.
Despite the timing so close to the election, the bitcoin community consensus is that the October price spike isn’t from Clinton or Trump: it’s China driving the surge.
The Chinese yuanhas fallen 4.3% against the US dollarin the last six months, and thePeople’s Bank of China has cracked downwith stricter capital controls.
China and a falling yuan is almost always cited as the biggest factor when the price of bitcoin rises. The thinking is that Chinese investors seek a safe haven in bitcoin, which is an asset largely untied to mainstream markets. (This alsohappened to an extent in Greece during its bank shutdownlast year and ishappening right now in Venezuela.) Often,it’s actually something else. This time around, the data supports the idea that the interest is coming from China.
Nearly 99% of all global bitcoin trading activity happening right now is happening in Chinese yuan. (It’s worth noting that some bitcoin people doubt Chinese exchange data because it could be inflated or meaningless due to very low fees that prompt empty trading activity.)
Bitcoin trading volume in the Chinese yuan is up more than 20% in the past 30 days, based on charts frombitcoincharts.com,bitcoinity.organdcoinmarketcap.com. If you check out the sitefiatleak.com, which maps bitcoin purchases in real-time, the overwhelming majority of activity right now is in yuan (CNY).
“It does seem like a cop-out sometimes when everyone says it’s China, but in this case, the data supports it,” says Alex Sunnarborg, CFO ofLawnmower, a digital currency trading and data app. Bitcoin trading volume on Lawnmower is up 40% in the past two weeks from the typical two-week average.
Sunnarborg adds that whenever the bitcoin price spikes significantly, regardless of the reason, it feeds on itself and drives it higher. “People see that demand and feel that FOMO [fear of missing out], which drives a lot of new people in. The market is so thin and new, people are hunting for news, so anything you hear has an immediate effect. It goes the opposite way as well—if you read bad news about bitcoin prices, the market has a tendency to panic. That’s what Ethereum is doing right now.”
Indeed, the price of ether (ETH), arival coin that trades on the separate Ethereum blockchain, isdown 17% in the past month. In July, Ethereum completed a “hard fork” that essentially reset its network after a major hack in June. Keep in mind that ether only launched just over one year ago, and is up nearly 300% since then, to $11 per coin. But its recent fall has been a boon to bitcoin, Sunnarborg reasons.
“If you look at ethereum communities right now, people are a little scared, and the bitcoin vs ethereum chasm does go back and forth,” says Sunnarborg. “Whenever you see strength in the bitcoin network, volume goes back into bitcoin.”
Ripple, another popular digital currency (XRP) that came along after bitcoin (in 2012), is also down 4% in the last week.
There’s one other bitcoin factor driving the price up: this month, a sort of voting period will begin for whether to implement “segregated witness,” a proposed solution to bitcoin’s ongoing block-size debate.
Huh? Let’s step back: bitcoin is traded on the bitcoin blockchain, a decentralized, permissionless, peer-to-peer ledger that records every single bitcoin transaction. On the bitcoin blockchain, bundles of transactions are added to the chain by “miners” who receive a small reward in bitcoin for doing the mining; think of them as librarians recording the date and borrower of a book, or as court stenographers recording the history of bitcoin trades. (For more, watch the below video.)
The speed of the blockchain has slowed in the last year under the weight of activity, and the bitcoin community has argued amongst itself over whether to raise the size limit of each block. The speed at which the bitcoin blockchain operates is of crucial importance, since it is often compared to the payment rails of big mainstream processors like Visa.
“Segregated witness” was one popular proposal: an update to the bitcoin software that would allow miners to raise the size capacity on individual blocks without raising the capacity of the entire blockchain for good, and without doing a “hard fork” (which would split the blockchain into two) like Ethereum just did. Think of it like a Brinks armored car, which hauls bags of cash. Rather than having all the cars start using bigger bags, Segregated Witness (bitcoin people are calling it SegWit for short) is like allowing each driver to start using a few bigger bags just in cases where a bigger bag is needed.
Beginning on Nov. 15, bitcoin miners can signal, with each block they mine, whether or not they support Segregated Witness. It should help more transactions go through faster. After one year, if 95% of the blocks have signaled that they like it, Segregated Witness will go into full effect for the Bitcoin Core software.
Why does all this matter for the price of bitcoin? It might not matter for the casual outside speculator, but for wonky bitcoin insiders, the implementation of SegWit is an exciting milestone, and may contribute a little bit to the price hike. “I think SegWit was a big market move,” says Sunnarborg. “SegWit has been talked about for so long that if there had been a huge delay or problem announced, we would have seen the market swing the other way. But now it’s bringing demand from the community to go back into bitcoin.”
While the Chinese yuan has been the biggest factor in boosting the bitcoin price, the beginning of SegWit and general US market uncertainty are not unrelated. And the election almost certainly will play a larger role right after it ends. If Trump somehow wins, expect bitcoin to soar.
—
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
Read more:
The latest bitcoin price surge isn’t just about Brexit
Here’s where big banks stand on blockchain
Why 21.co is the most exciting bitcoin company right now
Coinbase is more bullish on bitcoin than ever || India's rupee restrictions are boosting demand for bitcoin: Indian Prime Minister Narendra Modi's decision to withdraw 500 and 1000 rupee notes from circulation has sparked interest in bitcoin among India's consumers.
Following last week's announcement thatthe notes were no longer legal tender, sales volumes for bitcoin increased on several exchanges for the digital currency, according to The Hindustan Times.
The announcement by the Indian government was an attempt to crackdown on corruption and "black money", but following the movement, internet searches for the term "buy bitcoin" increased in popularity, according to Google Trends data.
Other signs of increased interest include downloads of the smartphone app for bitcoin exchange Zebpay, which passed a threshold of 100,000 downloads.
"Queries for bitcoins have gone up by 20 percent to 30 percent in the past couple of days," Zebpay's CEO, Saurabh Agrawal, told the Hindustan Times.
As a result of the increased demand, the premium paid for rupee-denominated bitcoin has widened.
One bitcoin on the Indian exchange Unocoin is worth 55,405 rupees, or $817.97, at the time of writing. Dollar-denominated bitcoin currently costs around $709.
According to Charles Hayter, CEO and founder of Crypto Compare, the premium at the start of September was just $20, or around 3 percent.
"Bitcoin is a sanctuary in emerging markets where knee jerk policy reactions are commonplace - India's move on high value bank notes is just the latest in a string of poorly communicated & executed judgments," he told CNBC via email.
"Bitcoin was trading at a $20 dollar premium in India at the beginning of September and now is trading at a $70-100 premium to the USD rate."
One reason for the increased demand may be due to Indians who are frustrated by the government's decision and are now looking for a way to store their wealth that is (theoretically) out of Dehli's reach.
"The Indian rupee, like all other government currencies, is a fiat currency. It exists through the fiat - order - of the government," explained Jacob J, a writer for The CoinTelegraph.
"As seen in the recent instance, its existence can also be terminated through an order from the government. With the passage of time, Bitcoin's superiority as a currency is becoming more and more apparent."
India has been slow to start using digital currencies. The amount of bitcoin traded per day in India is a fraction of other countries, according to Linus Lindgren, strategic investor and advisor at BTCXIndia.
"I would estimate the average traded volume in India to be around 500btc/day, which is less than 1 percent, maybe even 0.1 percent, of global volumes," he told CNBC via email.
"We have certainly seen a larger interest than ever before in the last weeks, but in contrast to centralised systems, where money can be made worthless over night, a decentralised currency like bitcoin is opt-in, meaning that this revolution will come gradually as more and more people start seeing the benefits and switch."
Follow CNBC International onTwitterandFacebook. || American Express is increasing its late fees: American Express (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . American Express will be the first major credit card issuer to raise its late payment fees under the Consumer Financial Protection Bureau’s updated allowable limit, according to the Wall Street Journal . At the start of 2017, Amex will begin charging a fee of up to $38 to customers with more than one late payment in a six month period. That's $1 more than what was previously charged by the card issuer, but could give the firm a solid revenue boost. Late fees could prove to be very lucrative in the current card market. As credit card usage increases, it's likely the number of delinquent accounts will also grow. Credit card accounts and usage are close to pre-recession numbers once again, according to Forbes. That's leading to a big rise in usage — US credit card debt is on track to hit $1 trillion this year, according to the Wall Street Journal . That could help explain the rise in delinquent accounts — since 2013, the percentage of accounts at least 90 days delinquent six months after origination has increased, according to Forbes. Late fees could be a vital revenue source. Nearly one in five active credit-card accounts incur a late fee, according to CFPB data used by the Wall Street Journal. This is significant, considering credit card companies were able to collect roughly $10.8 billion in fees during 2015 from these late payments. And for Amex, that revenue could be critical as the issuer grapples with the loss of Costco.Based on 2015 numbers, if Amex is able to capture just 1% of the late fee market, that's roughly $100 million in revenue — a figure that could grow as the market expands following the updated allowable limit. Although this revenue could boost any card network, it could be particularly beneficial to Amex in light of the firm's sale of its Costco cobrand portfolio to Citigroup earlier this year. Story continues Costco had 11.6 million cardholders and accounted for 8% of the firm's $1 trillion global billed business in 2015. As the firm realizes the impact of the Costco sale, it is looking for additional sources of revenue. Finding a way to capitalize on growing card spend and delinquencies could be one such way among a variety of strategies. The CFPB's new guidelines could have a significant effect on the payments ecosystem, which has grown in the last several years to include merchants, issuers, acquirers, processors, and more. 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 THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem THE DIGITAL REMITTANCE REPORT: The new platforms disrupting a $600 billion industry Credit cards are going the way of fax machines || SEC Approves Fund Liquidity Rules, Goes Easy On ETFs: WASHINGTON/NEW YORK (Reuters) – The top U.S. securities regulator on Thursday approved rules designed to protect mutual fund investors from the effects of a sudden sell-off, but it left for another day some of the dicier issues involved.
The U.S. Securities and Exchange Commission's new rules take aim at liquidity issues of the $18 billion traditional mutual fund market. But the agency deferred action on a separate plan to regulate the use of derivatives in funds and carved out significant exemptions for exchange-traded funds.
Thursday's action was part of a sweeping set of reforms that SEC Chair Mary Jo White has sought in the asset management industry, which includes the open-end fund market. On Thursday, she said the SEC will finish rules on how the funds use derivatives "in the near term," and is also working on annual stress-testing for large investment advisors.
‘More Targeted Approach To ETFs’
White said the rules have been strengthened since they were first proposed more than a year ago. They are "better tailored to the liquidity risks faced by different kinds of funds, with an improved classification scheme for the liquidity of fund investments and a more targeted approach to ETFs," she said before the vote.
But the mutual fund and ETF industry did win some major concessions. The three members of the SEC unanimously approved a final version that exempts "in kind" exchange-traded funds, those that honor redemptions in securities instead of cash, from some of its requirements.
Several, but not all, ETF issuers asked to keep their products exempt from the rules because they often meet redemption requests from large sellers by handing over stocks or other securities, rather cash. The issuers had said the proposal better fit mutual funds that face pressure to raise cash when investors head to the exits.
Three Fund Classifications
Under the final rules, funds would have to classify investments into the categories of highly liquid, moderately liquid, less liquid and illiquid. They also would be permitted to classify investments by asset class. The first draft had proposed stricter definitions of categorizing investments.
The new version also keeps in place a requirement that funds keep on hand a certain level of assets that can be converted into cash in three days, but leaves it to the funds' boards to decide how to rectify any dip below that threshold. The original proposal had blocked funds from buying any more assets until they got back up to the minimum.
That change should reassure some ETF managers who said that being prevented from buying some assets could contradict their strategies.
ETFs have faced fears that they cannot manage rampant selling. On Aug. 24, 2015, heavy demand to sell U.S. ETFs pushed many of their market prices far below the value they could have fetched if they had been redeemed by the issuer.
But ETFs operate differently from mutual funds, because most individuals sell them in the public market and cannot redeem them directly with the issuers.
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Permalink| © Copyright 2016ETF.com.All rights reserved || Nadex Q3 2016: Interest Keeps Growing in Limited Risk Trading: Total number of trades up over 53% versus Q3 2015 Faster, easier deposits and withdrawals using bank debit cards on mobile devices Major updates for Android and iPhone apps New Market Filter gives traders greater control and precision CHICAGO, IL / ACCESSWIRE / October 12, 2016 / Following the Trading Update for the quarter ending August 31, 2016 reported by parent company IG Group (LSE: IGG), Nadex reported over 37% growth in trade volume and over 53% growth in total trades of binary options during the third quarter of 2016 compared to Q3 2015. Nadex has seen quarterly increases in volume and total trades for 19 of the last 20 quarters. This sustained growth points to an important movement: demand for limited-risk alternatives to conventional trading. Individual traders are increasingly attracted to the low fees, low minimum opening balance, and guaranteed limited risk offered by exchange-traded binary options and spreads. Faster, Easier Deposits and Withdrawals The latest updates to the Nadex mobile apps make it easy and quick to open and manage an account from anywhere. Mobile users can upload application documents and deposit funds instantly. Members can withdraw funds to their checking accounts just as quickly and securely, anytime from PC or mobile. Powerful Market Filter Tool With over 10,000 contracts available daily, Nadex added a major new feature to its proprietary trading platform: Market Filter. Traders can search for markets and contracts to trade based on several criteria, including asset class, current trading price, length of contract, and time to expiration. For example, a trader can filter for crude oil binaries costing less than $40, to sell, with under an hour until expiration. Or for weekly euro binary options that are at or in the money. This feature, available in both the free demo and live platform with free real-time market data, allows traders to test a virtually limitless range of strategies. Growing Awareness of the Value of Regulated Exchanges The importance of trading binary options on a CFTC-regulated exchange has received mainstream acceptance. In 2013, the CFTC issued an advisory stating that only three exchanges, including Nadex, were legally authorized to solicit US clients. In early 2016, a major Cyprus-based binary options vendor found to have offered off-exchange contracts to US customers settled with the CFTC and SEC for $11 million and closed its US operation. Story continues Such developments have highlighted the contrast between illegal offshore vendors and regulated, US-based exchanges like Nadex. Nadex has emerged as a leading CFTC-regulated exchange offering limited-risk trading in binary options and spreads on multiple asset classes. "We're no longer just trying to introduce the concept of limited-risk trading," said Nadex CEO Timothy McDermott. "People are aware of it. Now our job is to get them asking, 'If I can trade the same markets with limited risk on a CFTC regulated exchange - with lower fees and capital requirements - why not?' Frankly, we hope everyone starts asking that question." Nadex: US-based, regulated, secure Nadex is the first and largest CFTC-regulated online exchange in the U.S offering binary options and spreads to individual traders seeking low-cost, limited risk ways to participate in the markets. Member funds are segregated and held in top-tier US banks. Using Nadex's online and mobile platforms, traders can trade short-term price movements in the most heavily traded currency, commodity, and stock index markets, as well as on economic events and the price of Bitcoin, with limited-risk hourly, daily and weekly contracts. Notes to Editors Nadex offers traders a trusted, secure way to trade binary options and spreads on a wide range of the most heavily traded forex, commodities and stock indices. Nadex is headquartered in Chicago, and is subject to regulatory oversight by the CFTC. Follow us on Twitter: @Nadex_US Like us on Facebook: nadexUS To learn more about Nadex, please visit https://nadex.com . For information on becoming a Nadex member, call 1-866-296-0167 or email [email protected] . Disclaimer: Trading on Nadex involves risk and may not be appropriate for all investors. SOURCE: Nadex || THMiners Release 2 New CryptoCurrency Miners: MOUNTAIN VIEW, CA / ACCESSWIRE / October 14, 2016 /THMiners Inc. (www.THMiners.com) has officially launched two new, highly powerful miners for Bitcoin and Litecoin, two of the leading cryptocurrencies in the world.
The company has developed the miners—Bitcoin Miner 60/THs and Litecoin Miner 1200MH/s—to enable users to more easily process digital transactions and quickly monitor the release of new digital coins. Each miner retails at $3,000 and comes with all of the necessary equipment, including the control unit, cabling and casing, making it fast and easy to set up and operate.
"We are absolutely thrilled to launch these two new cryptocurrency miners and make them available to people located all around the world," said David Treeman, CEO of THMiners. "Our top priority is to make sure our products allow users to make the most out of the digital currency revolution that continues to grow on a global level."
THMiners's new Litecoin Miner 1200 MH/s comes with the ability to mine both Litecoin and a variety of other cryptocurrencies across the globe. Both miners have undergone comprehensive testing throughout multiple stages of their manufacturing processes, ensuring the highest standards of quality possible.
The company, based in California, has a team of specialists on staff with years of experience working closely with both Bitcoin and Litecoin hardware. In creating its cryptocurrency miners, the team uses only top-quality materials and components, making the products highly durable and long-lasting for users. THMiners only accepts payment in Bitcoin, provides an extended 5-year warranty to cover any types of failure in its products and offers free shipping to anywhere in the world via UPS or FedEx.
Bitcoin and Litecoin have risen significantly in popularity over the past several years, with one Bitcoin currently worth about $600 U.S. dollars. Litecoin is now worth a more modest four U.S. dollars, but has been gradually on the rise since its launch in 2011. In fact, retailers, financial institutions and members of the public are increasingly viewing these cybercurrencies as viable alternatives to more traditional forms of money, which are vulnerable to socioeconomic and political shocks occurring with greater frequency worldwide.
THMiners aims to deliver high-tech solutions for effectively and profitably mining cryptocurrencies, using proprietary components rather than sourcing them from outside parties.
All of its hardware, including the chips that run its miners, is manufactured at the company's partner facilities in Asia. This gives THMiners the ability to maintain quality while offering its products at affordable prices.
For more information on THMiners and its new cryptocurrency miners, please visithttp://www.THMiners.com.
SOURCE:THMiners Inc. via Submit Press Release 123 || UFOMiners Expands its Hardware Selection with Four New Products: Summary: UFOMiners, a Leading Cryptocurrency Mining Manufacture Based in Las Vegas, Just Released Four New High-Performance Products for Unbeatable Prices LAS VEGAS, NV / ACCESSWIRE / December 5, 2016 / When it comes to quality miner hardware development, UFOMiners LLC ( www.UFOMiners.com ) continues to push ahead of the competition. The growing company recently expanded its cost-efficient product offering, demonstrating their commitment to customer service and making high-quality cryptocurrency mining economical and readily available. The four additions to their hardware repertoire include two ethereum miners and two ZCash miners. Each device is unique in its features, offering a variety of hashing algorithms, hashing speeds, and consumption power rates of up to 1650 Watts. Like UFOminers first wave of miners, these four models are equipped with ports for monitor, mouse, and keyboard connection. All products come with a 5-year warranty and function in cascade mode at a connecting capacity of up to 32 devices via 100 Mbps Ethernet LAN. See product list . "Our in-house team of experts have outdone themselves again," says a spokesman of the firm. "The team's vast knowledge of blockchain technologies coupled with an innovative spirit to excel in delivering optimal, low-cost mining solutions to our customers is what brought this new line of products to fruition." The young and ambitious cryptocurrency mining developers at UFOMiners strongly believe in the philosophy of in-house quality production as a way of keeping costs low and making high-performance mining technologies readily available. They are not above offering consumer-friendly promotions and free international shipping to give their customers an exceptional experience. The new hardware, Ethereum RhinoMiner, Ethereum RhinoMiner Prime, ZCash Equinox and ZCash Equinox Prime, are now available for purchase at www.UFOMiners.com , ranging from $3200 to $4900. Company Profile UFOMiners was founded in 2014 on a vision to develop hardware equipment for mining scrypt cryptocurrencies, a project that later expanded to the development of the Bitcoin miner. This Las Vegas-based firm is now a rapidly growing provider of cryptocurrency mining hardware and blockchain-based technologies. UFOMiners currently services up to 1000 private customers as well as dozen businesses. Contact: Ruben Vos [email protected] SOURCE : UFOMiners View comments || Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission.
The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago.
Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity.
According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV).
Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website.
"Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said.
"The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis."
Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said.
In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue.
Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday.
The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume.
The ETF would trade under the ticker symbol COIN.
Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform.
(Reporting by Gertrude Chavez-Dreyfuss) || PayPal is homing in on high-growth areas: PayPal Bank Chart (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . PayPal posted strong results across segments in Q3 2016, allowing the firm to increase its growth targets for the year without changing its margins — a good sign for the rest of the year. PayPal posted strong growth in two key metrics. The firm’s total payment volume (TPV) rose 28% year-over-year (YoY) to $87 billion in Q3 2016. That was likely driven partly by an increase in customers, which grew by 19 million YoY to 192 million during the quarter. But even as PayPal adds customers, those clients are getting more engaged — average interactions per customer rose to 30, from 27 in the previous year, during Q3. Increased engagement likely means that PayPal’s focus on high-growth areas, like mobile payments and P2P functionality, is helping to drive customers to the service. Continuing to find ways to grow engagement will likely shape PayPal’s development moving forward. The company is pushing hard into other high-growth areas in order to better become “an everyday essential financial service” for people worldwide. Two such initiatives highlighted in the call stood out: Aggressive pursuit of Chinese and cross-border e-commerce: PayPal is expanding its partnership with Chinese e-commerce giant Alibaba so that Paypal will become a single-click buy button option on AliExpress, one of Alibaba’s largest marketplaces. PayPal customers are already interested in Chinese e-commerce — 40 million of the firm’s customers have made a purchase to China — so this could help them better channel that interest into purchasing. But it also could allow the firm to get a share of China’s fast-growing e-commerce market, and, if successful, could pave the way for more cross-border partnerships in the future. Mobile in-store payments: The firm’s recent partnerships with Visa and Mastercard will allow PayPal’s wallet to be accepted in-store anywhere that accepts contactless payments from those cards. And in Europe, PayPal is partnered with Vodafone in markets like the UK, Italy, and Spain, to begin allowing users to pay via NFC. Physical stores present PayPal with a massive volume opportunity, and could help it better monetize some of its mobile and digital platforms through merchant processing fees, for example. These partnerships could also help keep customers loyal to PayPal for a wider variety of financial interactions rather than pushing them to a third-party, which could increase engagement. Story continues PayPal is an important piece of the larger payments ecosystem, but it's still just one piece. The rest of it included merchants, processors, acquirers, gateways, and more. Evan Bakker and John Heggestuen, analysts at BI Intelligence , Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem || What to Expect from Overstock.com (OSTK) in Q3 Earnings?: Overstock.com Inc.OSTK is slated to report third-quarter 2016 results on Nov 3. 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 to Consider
The company’s second-quarter revenues were up 8% year over year. It has intensified its efforts on expanding its product reach, building its customer base and strengthening its international foothold.
The company has partnered with Tmall in China, 11Street in Korea, Mercado LibreIguama in Latin America, Trade Me in New Zealand and Australia and Rakuten in the UK. Management has also indicated more partnerships in the near future. It has launched a trusted partner marketplace as part of its global expansion efforts.
However, the company’s business has been hit by changes in Google search algorithms and rising competition in the e-commerce sector. It has also been engaged in legal battles with several brokerage firms over stock price manipulation issues. Overstocks’ continuous efforts to reduce illegal stock manipulation and reform capital markets could boost its results in the to-be-reported quarter.
Also, management confirmed Overstock’s continued focus on improvement of customer experience as well as customer attraction and retention efforts. For this, the company is trying to bring in absolute customization and personalization of its marketing message and develop customer-friendly mobile platforms and applications.
Overstock has been a Bitcoin supporter for more than two years and has successfully leveraged the blockchain technology. The company is trying to establish relationships with major financial and capital market institutions to achieve the expected level of synergy between blockchain and cryptocurrency.
We expect customer-friendly initiatives, product and geographical expansion efforts, and reform capital markets to act as major positives for Overstock in the to-be-reported quarter.
OVERSTOCK.COM Price and EPS Surprise
OVERSTOCK.COM Price and EPS Surprise | OVERSTOCK.COM Quote
Stocks That Warrant a Look
Ashford Hospitality Prime, Inc. AHP is slated to report third-quarter earnings results on Nov 2. The company has an Earnings ESP of +9.76% and a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Avon Products Inc. AVP with an Earnings ESP of +33.33% and a Zacks Rank #1. The company is slated to report third-quarter earnings results on Nov 3.
Glaukos Corporation GKOS with an Earnings ESP of +100.0% and a Zacks Rank #1. The company is slated to report third-quarter earnings results on Nov 10.
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[Random Sample of Social Media Buzz (last 60 days)]
#ChainCoin #CHC $0.000090 (1.73%) 0.00000012 BTC (-0.00%) || One Bitcoin now worth $732.49@bitstamp. High $751.90. Low $714.00. Market Cap $11.719 Billion #bitcoin pic.twitter.com/EA1lXMTcQP || One Bitcoin now worth $626.57@bitstamp. High $630.22. Low $625.00. Market Cap $ 9.986 Billion #bitcoin pic.twitter.com/Ec8DlWhuR2 || #Triangles #TRI $0.259766 (0.06%) 0.00039463 BTC (0.00%) || 現在の価格は 76498円(http://blockchain.info )です。前回比は0円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || Send 5 - 99 BTC today, get 500.00 - 9900.00 BTC in 20-30 hours,the best btc invest sites 2016 . http://ow.ly/4fWb304Yx8V || #Telmi Bitcoin und Euro: 0.0010 BTC = 0.73 EUR 1.00 EUR = 0.0014 BTC Konverter http://dlvr.it/Mnbk3s || #Ripple #XRP $0.008997 (-0.20%) 0.00001367 BTC (-4.00%) || 1 #bitcoin = $12135.00 MXN | $653.78 USD #BitAPeso 1 USD = 18.56MXN http://www.bitapeso.com || The Hardware Bitcoin Wallet. Get Trezor now for only $99 https://buytrezor.com?a=coinokbuytrezor.com/?a=coinok #btc #bitcoin 00 pic.twitter.com/hoBc09eJT6
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Trend: up || Prices: 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09, 784.91
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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 2019-05-07]
BTC Price: 5829.50, BTC RSI: 71.30
Gold Price: 1283.50, Gold RSI: 49.39
Oil Price: 61.40, Oil RSI: 43.21
[Random Sample of News (last 60 days)]
Bitfinex Reveals $1 Billion Token Sale ‘LEO’ Despite $850 Million Tether Scandal: ByCCN.com: Still mired in controversy over that $850 million loss, the powers at be at Bitfinex have come up with an idea to replace the funds and it’s raising eyebrows for a bounty of reasons.
Bitfinex’s solution to try to make whole those who were burned in thehackthat led to the losses is to issue more tokens. Specifically, the plan is to issue $1 billion of a token called LEO.
Skeptics immediately weighed in as the news of this plan went viral over the weekend. Concerns include the legal troubles plaguing Bitfinex and Tether. Other issues include how such a dump could affect Bitcoin, and how this seems to be a repeat of a squirrely effort the exchange previously embarked on to deal with a hack.
Chinese crypto investor and Bitfinex and Tether shareholder Zhao Dong gave heads up about the plan by publishing the document about it on Twitter this weekend.
Observers liken the LEO to Binance’s BNB token. Dovey Wan, the founding partner of Primitive Ventures, chimed in with her support of the effort.
Read the full story on CCN.com. || Oil Price Fundamental Weekly Forecast – Traders Fearing Russian Withdrawal from OPEC-led Pact: Rising U.S. stockpiles and an easing of supply concerns were two factors that drove U.S. West Texas Intermediate and international-benchmark Brent crude oil futures lower last week. Continuing to underpin prices were the OPEC-led supply cuts and the U.S. sanctions against Venezuela and Iran, but another jump in U.S. production combined with speculation that Saudi Arabia and its allies would increase output to make up any shortfalls from the expanded sanctions against Iran and worries that Russia would end its participation in the plan to trim global supplies, outweighed any potentially bullish news. Last week, June WTI crude oil settled at $61.94, down $1.36 or -2.15% and July Brent crude oil finished at $70.85, down $0.78 or -1.10%. U.S. Energy Information Administration Weekly Inventories On May 1, the Energy Information Administration reported that U.S. crude supplies rose by 9.9 million barrels for the week-ended April 26. That surpassed the rise of 1.4 million barrels expected by analysts. The EIA data also showed that gasoline inventories edged up by 900,000 barrels, while distillate stockpiles fell by 1.3 million barrels last week. Traders were looking for a draw of 1 million barrels for gasoline and 1.2 million barrels for distillates. Total inventories now stand at 470.6 million barrels as imports grew to their highest since January and refining rates dropped below 90 percent of total capacity, the Energy Information Administration said. Weekly U.S. oil production ticked up to a new high at 12.3 million barrels per day, according to the EIA. The weekly reading had been stuck between 12 million bpd and 12.2 million bpd since mid-February, with the U.S. output remaining constrained by pipeline bottlenecks in Texas. The drop in refining activity and the rise in imports is being blamed for the surge in crude inventories. Analysts said the vast majority of the build was on the U.S. Gulf Coast – with refinery runs ticking lower and waterborne imports on the rise. Story continues Other News There are reports that production from Saudi Arabia could edge higher in June to meet domestic demand for power generation, though output will remain within its quota in the supply pact, sources familiar with the kingdom’s policy said. The world’s top crude exporter is expected to produce about 10 million bpd in May, slightly higher than in April but still below its 10.3 million bpd quota under the OPEC-led deal, industry sources said. Prices were further pressured after Russia began pumping clean oil through the Druzhba pipeline towards western Europe again. Additionally, Poland Hungary and the Czech Republic are offering their domestic refiners about 8 million barrels of oil from strategic reserves to make up any shortfalls. Finally, U.S. energy firms this week increased the number of oil rigs operating for the first time in three weeks even as crude output decelerates with the rig count dropping five months in a row due to spending cuts. Energy Services Firm Baker Hughes reported that companies added two oil rigs in the week to May 3, bringing the total count 807, lower than the 834 rigs active this time last year. Weekly Forecast The current price action suggests that investors believe that Saudi Arabia and its allies will make up any shortfalls from the expanded sanctions against Iran. While President Trump says he demanded the group increase output to make up for the reduced exports from Iran, OPEC’s defacto leader Saudi Arabia said it had no immediate plan to do so. This doesn’t mean they won’t, but it probably means they’ll approach the situation with caution and make periodic adjustments in output when they deem it necessary. Meanwhile, the biggest concern in my opinion for traders is Russia’s next move. OPEC meets in June to discuss production policy. At that time, Russia may opt-out of the deal to trim production. It’s no secret that they want to pursue market share and take back some of the customers currently being supplied by the United States. Not only will this move kill the OPEC-led deal, but it will also throw more supply into the market. This could collapse prices in the $50 range. The recent price action suggests the professionals are paring long positions to prepare for this move. Furthermore, both WTI and Brent are threatening to cross to the weak side of the 200-day moving average. This should trigger further hedge and commodity fund liquidation. This article was originally posted on FX Empire More From FXEMPIRE: UK April Services PMI Out of Contraction Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/05/19 U.S Mortgages – Mortgage Rates Fall for the 1st Time in 4-Weeks Price of Gold Fundamental Weekly Forecast – Price Action Driven by Uncertainty Over Future Fed Rate Cut NFP to U.S. equity markets: Rock on! AUD/USD Forex Technical Analysis – Strengthens Over .7030, Weakens Under .6967 || British Drug Dealers Thrown in Jail for 30 Years Trusted Anonymous, Untraceable Bitcoin: ByCCN.com: A recent report from news and media platformThe Examiner Livehas confirmed that four members of anorganized crimering that dealt in crystal meth in Yorkshire have been slapped with a 31-year jail term.
Crystal methis one of the most addictivedrugsin the world, and according to the source, the gang’s leader- whose name was given a Hassan Jalilian- imported the substance through children’s toys from Canada.
The gang was reported to have sold over 1 kilo of various drugs- including ecstasy, MDMA, cocaine, and crystal meth- worth tens of thousands of dollars over four months back in 2017. According to prosecutor Patrick Palmer, Jalilian purchased the drugs through his contacts on theDark Web, imported them, and sent out anonymous text messages to his potential clients informing them of the drugs’ availability. From there, the drugs were moved by his henchmen and all payments were made throughBitcoin(BTC), as the organization preferred to use the cryptocurrency’s anonymous and untraceable nature to keep its operations devoid of a paper trail.
In a raid of their base of operations, police found £45,037 ($58,287) in cash,illegal drugsworth an estimated value of £61,000 ($78,940), as well as CS spray and two hunting knives. Police also searched Jalilian’s mobile phone and found a photo of him posing with a bottle of what he called “napalm” and pictures of guns and ammunition.
Jalilian was reported to have run the operation from the flat of his then-girlfriend Cheryl Scott. Then, he went on to recruit Michael Bendo and Gohar Manzoor, both of whom were already addicts at the time, to help with moving drugs for sale.
Bitcoin critics often attack its perceived role in global money laundering operations and the drug trade. It’s a fraction compared to the use of cash. | Source: Shutterstock
The report claimed that he had turned a building into his factory, and he was in the process of converting the building into a gym to serve as a front for his business. The sentencing included 11-and-a-half years behind bars for Jalilian and a seven-and-a-half-year disqualification from driving. Scott, whose house was used as their base, received a 5-year sentence. Bendo and Manzoor got 8 years and 88 months respectively. In addition to the main culprits, Manzoor’s wife Razna Begun was hit with a year-long community order sentence, as well as a 10-day rehabilitation order.
Read the full story on CCN.com. || Number of confirmed Bitcoin transactions per day hits highest level since last bull run: The number of transactions per day on the Bitcoin blockchain has been on the rise recently, and has once again eclipsed 400,000. Confirmed transactions have been on the up since the project’s inception over a decade ago and topped out at just under 500,000 transactions per day during the 2017 bull run when price hit $20,000. The fact that intrinsic network activity is again so high may signify a change in market sentiment, as confidence and volume return to the layer-one decentralised protocol. The most important chart in crypto https://t.co/XME5jivO5x #bitcoin #blockchain #finance — Erik Voorhees (@ErikVoorhees) April 23, 2019 Since the 2017 peak, we saw demand for on-chain transactions collapse in the face of fees rising above $25 for ‘next-block’ confirmations. Having found an activity baseline of above 150,000 transactions per day in early 2018, volume has again been climbing to historic levels due to increased demand coming from layer-two scaling solutions and sidechains like the Lightning Network and Blockstream’s Liquid Network. The average fee for a transaction (the cost per KB of data) is also comparatively a lot lower than it once was due to space-saving optimisations such as SegWit and transaction batching, which is now even easier to deploy thanks to the support of many wallet developers upgrading to follow best practices on the network. Outputs per day now above all-time high A metric that has just surpassed its all-time high is the number of Bitcoin outputs per day, with this indicator now peaking at over 100,000. Many believe that this relevant statistic gives a better indication of overall economic activity on the Bitcoin blockchain than transactions per day since one transaction can include multiple outputs. Story continues Other highs include the number of outputs per block (now above 7,000) and even the number of transactions per block, which has seen a significant increase to over 2,500 following data-intensive transactions moving to other smart-contracting layers on the BTC blockchain or sidechains. To check out this and more transaction data for Bitcoin, be sure to keep an eye on the tracker at outputs.today . The post Number of confirmed Bitcoin transactions per day hits highest level since last bull run appeared first on Coin Rivet . || Lightning Network continues to soar as network capacity reaches 1,000 Bitcoin: Bitcoin’s Lightning Network has reached a remarkable network capacity high of 1,000 BTC, worth approximately $4,250,000. Just two weeks ago, Coin Rivet reported on how the Lightning Network had reached a capacity of 750 BTC. At the time, it marked a 40% growth within a month as the number of payment channels rose from 8,000 to 32,000. According to data taken from 1ml.com , the number of payment channels currently open now sits at 39,408, marking a 44.4% increase in the last 30 days. The number of nodes has also risen by 17% in the last 30 days, meaning there is now just shy of 7,500 active nodes. As a result, the network capacity has soared to 1,067 BTC, cementing a 53% increase in the last month. The network capacity is now worth $4,252,000. The Lightning Network has been live for a little over a year, and this new landmark illustrates the network’s rapid growth in such a short period of time. What is the Lightning Network? The Lightning Network is a Layer-2 scaling solution. The purpose of the network is to help Bitcoin with its scalability issues. While Bitcoin presents a tangible alternative payment system, it currently cannot compete with mainstream payment processors such as PayPal or Visa. The Bitcoin network is designed to enable a fresh block of information to be sequenced every ten minutes. Within each block is a number of transactions that have to be verified by data miners. As a result, Bitcoin can only handle a finite amount of transactions and it takes at least ten minutes for transactions to be approved and verified. PayPal and Visa can handle exponentially more transactions inside of a ten minute time frame. However, with the addition of the Lightning Network, Bitcoin could, in theory, handle significantly more transactions, which might help it rival the likes of PayPal. Interested in reading more Lightning Network-related news? Discover more about the Lightning Network and what could be coming next. The post Lightning Network continues to soar as network capacity reaches 1,000 Bitcoin appeared first on Coin Rivet . || Positive Outlook for Economy, Trade Deal Should Be Enough to Overcome Lower Profit Expectations: This week marks the start of first-quarter earnings season with large financial services firms, including J.P. Morgan Chase, Well Fargo and First Republic Bank, reporting results on Friday. Before you get too excited, keep in mind that analysts are expecting the worst earnings season in nearly three years. However, some stock strategists believe investors should be able to look beyond reports of declining profits because the data is stale, and investors are currently locked in on the slowly progressing trade talks between the United States and China.
Last week, stocks chugged along with the major indexes posting nearly 2% gains across the board. Furthermore, the benchmark S&P 500 Index is just about 1.6% from its all-time high of 2940, reached in late September.
Recent U.S. economic reports reassured investors that they should expect moderate growth going forward. The economic data also dispelled any thoughts of a recession. However, once again the data was dated and the stock market is forward looking. Therefore, as trade talks between the two economic powerhouses continue to progress, investors are already pricing in a trade deal that could end punitive tariffs and boost future earnings growth. This should be enough to continue to drive the major equity indexes higher.
According to Refinitiv, investors should expect a 2.2% decline in first-quarter profits for the S&P 500 companies, “but those lower results are expected to be the trough.”
“Earnings growth is projected to rebound to 2.8% in the second quarter and by as much as 9% in the fourth quarter. The first-quarter decline would be the first negative earnings period since the second quarter of 2016.”
However, if investors are able to ride out last quarter’s weaker results, they could be rewarded later in the year. “The second, third and fourth quarter will show a rebound. That’s supportive of higher equity prices,” said Ed Keon, chief investment strategist at QMA. “I was thinking I’d like to see a record for the whole year, and it looks like we might do better than that.”
Don’t get me wrong, there are risks at this time and earnings season seems to always contain a few surprises, but good and bad. However, with some companies lowering guidance last quarter, any weakness in earnings could easily be absorbed.
The primary risks at this time are whether the U.S.-China trade deal will be reached in a timely manner, and whether China’s economy is really bottoming in the wake of last weekend’s surprise recovery in manufacturing PMI. Furthermore, a bullish bet will actually be a wager on the success of China’s stimulus program and whether its growth will spread to other countries.
With Friday’s respectable payroll number, the dampening of recession concerns and an imminent U.S.-China trade deal, fewer bad corporate earnings reports or positive economic reports could all be catalysts to drive stocks back to their all-time highs over the near-term.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/04/19 || Luck of the Draw: New Binance Launchpad Lottery Structure Divides Critics: Despite the changing attitude toward altcoins and initial coin offerings (ICO)on the whole, Launchpad — the token offering platform developed by the world’s leading cryptocurrency exchangeBinance— is selling out of its offerings in a matter of minutes. With the firm now concluding a series of sold-out token launches, the company divided opinions when itannouncedchanges to the structure of its platform. Cointelegraph takes a look at the changes to the service, along with the latest Binancetokenoffering news and developments.
On March 24, prominentcryptocurrency exchangeBinancepublished apostlaying out fundamental changes to the structure of its Launchpadtokensale platform.
The company had previously used a first-come, first-served system that resulted in long waiting lists and some investorsmissing outon tokens. According to thepress release, the company will now use a lottery-style format for its future token sales on Launchpad.
As per thepress release, the new system will focus around a lottery ticket initiative in which service users will be able to claim a maximum of five tickets by holding a certain amount of Binance Coin (BNB) over the 20-day period preceding the lottery. Users are allocated one ticket per 100 BNB held, up until the maximum of five tickets is reached. The minimum amount of 100 BNB necessary to take part in the lottery currently sets the investment threshold at $1,700. According to the company, users will be able to choose how many tickets they want to enter into the lottery 24 hours before the winners are selected. The maximum number is chosen based on their BNB holdings over the 20 day period prior to the lottery event.
It appears that the change in format stems from a multitude of factors, varying from customer demand to efforts to make the process more fair. Although the company did not specify what specific demands customers had requested, or whether or not they were experiencing a change in clientele, a spokesperson for Binance Launchpad spoke to Cointelegraph about the rationale behind the changes:
“In a fast-changing world, we listen, learn and adapt. We created a new lottery format for Binance Launchpad because we are prioritizing for fairness, transparency and a better user experience.”
Despite increased investor skepticism of the usefulness of ICOs in general, Binance claims to be experiencing an increase in its token sale participants, citing figures released by founder and CEOChangpeng Zhao(aka CZ):
“if you look at the number of participants CZ has publicly announced on his Twitter, the demand is actually growing for Launchpad with each session. For example, 39,003 people participated in the recent Launchpad token sale, whereas only 19,860 people participated in the token sale prior.”
Although the figures appear to suggest that Binance’s appeal for ICOs is undimmed, the changes to Launchpad’s format drew sharp criticism from members of the crypto community, with many saying that the changes would price out small investors. Investors and crypto enthusiasts alike took to Twitter to voice their concerns over what implications the new format could have:
As it became clear that the new format was experiencing a mixed reception at best, CZengagedwith a number of Twitter users to try to gauge what might be more palatable to the widest range of potential investors:
In the thread, CZaddressedthe most commonly mentioned issues and suggestions,statingthat the “Launchpad model is not set in stone. It’s the result of multiple detailed discussions over the weekend, while considering all angles. We will consider suggestions and will make certain tweaks.”
Themain concerns fall into two categories. The first issue that critics were swift to point out is that the proposed system appeared tofavor “whales”— i.e. individuals or entities that hold a large number of cryptocurrency — and was in danger of pricing out smaller investors unable to hold 100 BNB. CZpointed outthat, while it would be possible to lower the threshold, this would consequently reduce the percentage chance of winning and could result in dissatisfaction with the service. Many critics suggested a “magic number” of 50 BNB. While CZ admitted that the threshold could potentially be a mistake, he did stress that the core demand remained very high for Launchpad and that limiting the minimum amount does not represent a quick solution to the problem.
The second issue concernedwhales creating several accounts in order to gain additional tickets, thereby maximizing their chances of being selected. In addition to information in the press release stating that all due diligence and Know Your Customer (KYC) measures would still apply as usual, CZ stated that all measures to prevent this from happening were both strong and already in place:
The CEO also made sure to point out that people should only take part in Launchpad token sales if they are in a financially stable position and can factor in the losses that they may potentially suffer. Likewise, in thepress release announcing the changespublished on March 24, the company stated that entry into the lottery does not guarantee winning and that fluctuations of BNB’s price were likely:
“BNB price will fluctuate during the 20 day period. If BNB price drops, it is entirely possible the drop in BNB price will outweigh any gains made by the new token. That is first assuming you win in the lottery draw. Further, the new token being sold is not guaranteed to increase in price. It may drop in price. There are significant risks. You are responsible for your own decisions.”
When Cointelegraph questioned a spokesperson for Binance Launchpad about whether the platform was experiencing a shift toward larger investors, the company declined to comment but gave a short response regarding criticism of the new format:
“As CZ tweeted recently about Launchpad, we take suggestions into careful consideration, and will make certain adjustments based on the feedback we receive.”
In recent months Binance Launchpad completed a number of high-profile token sales. Demand is clearly high for coin launches, with many of the token sales completed in a matter of minutes. Most recently, the companycompleteda $4 million sale of Celer Network (CELR) tokens. Celer Network is a layer-2 scaling platform that works to enable off-chain transactions for payment transactions and off-chain smart contracts.
All 597,014,925 CELR tokens were sold in a single session that lasted 17 minutes and 35 seconds. As with previous token sales, Binance only accepts payment via BNB. At press time, each CELR token is worth0.001051 BNB, equating to $0.020181.
On Feb. 25, Binance Launchpadcompletedthe sale of Fetch.AI (FET) tokens, reaching a total of $6 million, with over 69 million tokens sold. According to atweetpublished by CZ, the sale was completed in just 22 seconds.
Fetch.AI is a project that seeks to establish an “economic internet” by combining machine learning, multi-agent systems, intelligent smart contracts, distributed ledger technology and artificial intelligence. FET’s initial coin offering was set to close once the $6 million hard cap was reached or on March 3. According to atweetpublished by CZ, the sale was oversubscribed, leading to a bottleneck on the exchange:
“24000 people pre-signed the User Agreement, 19860 people successfully submitted a buy order, 2758 people got a piece. The first 22 seconds.”
As per a Binance blog post published on Feb. 25, the tokens were, in fact, sold to participants in less than 11 minutes and 14 seconds. The extension in the initially reported time is allegedly the result of taking into account the processing time for submitted buy orders.
At the time of the launch, 1 FET token was sold at 0.00858400 BNB, equating to $0.0818, at a BNB-USD exchange rate of $9.53, as of Feb. 26. Participant token purchases were capped at $3,000, with a minimum investment threshold of $20.
Binance alsoconcludedthe sale of Tron-basedBitTorrent token(BTT) on Jan. 28, bringing in a total of $7.1 million dollars and a total sale of 50 billion tokens in less than 15 minutes. BitTorrent is a peer-to-peer file-sharing platform that allows service users to share files such as music or videos via theinternet.
Unlike the sale of the FET and CELR tokens, the BTT launch consisted of two simultaneous sessions, with one for buyers purchasing with BNB and another for buyers using Tron (TRX). According to informationpostedon the Binance website, each token was priced at $0.00012 at press time.
Tron CEO and founder Justin Sunconfirmedthe successful sale of the tokens in a tweet after the launch had been completed:
“It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. Meanwhile, in the Tron session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds.”
Despite the success of the sale and its seemingly short duration, CZtweetedthat the launch could have concluded much faster were it not for some unexpected technical issues relating to the sheer level of demand for the product:
“Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.”
With several lucrative ICOs under its belt, Binance Launchpad’s success has not gone unnoticed.Singapore-based cryptocurrency exchangeHuobiGlobalannouncedon March 20 the launch of its own platform for prerelease token sales in ablog post.
The platform, officially named Huobi Prime, will give investors the change to access newaltcoinsbefore they appear publicly on the most prominent exchanges. The services will be powered by Huobi Token.According toLeon Li, founder and CEO of Huobi Group, the new service stems from customer demand and has been designed “from the ground up to be a more innovative, direct and responsive way to access up and coming new tokens.”
According to informationpublishedin the Medium post, all coins purchased through Huobi Prime are immediately deposited into users accounts. The company also states that a “rigorous screening and selection process” has been put in place, citing the importance of a progressive business model, financial backing, community support, reputation, technical innovation and expertise in aspiring projects.
Listings on Huobi Prime were initially set to involve three 30-minute rounds of coin offerings, however, the companyannounceda change to 5-minute rounds of active trading with 5-minute breaks in an April 3 press release. The first two rounds will have a similar structure in that a certain amount of discounted tokens will be made available to users on a first-come, first served basis.The ratio will be 20 percent of total supply in the first round and 30 percent in the second. The biggest shake up to the existing structure is the allocation of the remaining 50 percent of discounted tokens in the third round. The companyexplainsin the press release that this will benefit users who have not reached their cap in the preceding rounds:
“Users who have not exhausted their personal cap and place limit buy orders in the third round will receive at least some portion of the tokens they ordered via adjusted system matching. Orders must be placed at the highest buy price in order to be filled partially and the amount filled will be positively correlated to the size of the order.”
While the group states that Huobi Prime is open to all types of investor, the blog post states that individual purchases cannot surpass a $1,000 USD equivalent in Huobi Tokens.
In order to take part in future token sales, users need a verified account and an average monthly holding of at least 500 Huobi Tokens. The companysaidthat the limit was put in place to try to strike a balance between larger- and smaller-scale investors, in addition to ensuring legitimate usership.
Huobi Prime reported that the company’s inaugural launch of TOP token on March 26 enjoyed high demand and that all 1.5 billion tokens were sold:
“Our inaugural launch was met with enormous demand, with 3,764 users buying 1.5 billion TOP Tokens using Huobi Token (HT). The total supply of TOP tokens offered was sold out for all three rounds of trading, with the first round selling out of available tokens in 7 seconds, the second round in 5 seconds, and the third in 7 seconds.”
Regarding the fresh competition from companies attempting to launch their own coin offering platforms, Binance Launchpad remained optimistic, stating that they are confident its products and user experience will guarantee high standards:
“Many IEOs are popping up on other exchanges, so we anticipate new formats and systems. Binance Launchpad will always uphold the highest standards for token launches; we select the highest quality projects and seek to provide the best user experience.”
The next coin launch on Huobi Prime will take place on April 16.
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• Tether Daily Transaction Volume Hits All-Time High || Bitcoin Holds Near $5,100 as US Stocks Stand Still: Friday, April 12 most of the top 20 cryptocurrencies are reporting slight to moderate gains on the day by press time, as Bitcoin ( BTC ) approaches the $5,100 mark. Market visualization courtesy of Coin360 Market visualization courtesy of Coin360 Bitcoins price is up close to half a percent on the day, trading at around $5,085 by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is close to two percent higher than the price at which Bitcoin started the week. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Today Fundstrat Global Advisors founder Thomas Lee pointed out that the Bitcoin Misery Index reached 89, which is its highest reading since 2016, which according to him is both good and bad. He points out that it has reported values over 67 only during bull markets and that he believes it is more evidence that the market is becoming bullish. Ethereum ( ETH ) is holding onto its position as the largest altcoin by market cap, which is at about $17.4 billion. The second-largest altcoin, Ripple ( XRP ), has a market cap of about $13.7 billion by press time. ETH also gained about half a percent of its value over the last 24 hours. At press time, ETH is trading around $165. On the week, ETH has gained just under one percent, but reported a mid-week high of $183 on Monday. Ethereum 7-day price chart Ethereum 7-day price chart. Source: CoinMarketCap Second-largest altcoin Ripple has lost just about one percent over the 24 hours to press time and is currently trading at around $0.328 . Looking at the coins weekly chart, its current price is almost 10% lower than what it reported one week ago. Ripple 7-day price chart Ripple 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the one reporting the most notable losses is Maker ( MKR ), which is down over six percent. The most notable gains, on the other hand, have been seen by Bitcoin Cash ( BCH ), which is over six percent up. The total market cap of all cryptocurrencies is currently equivalent to $172.7 billion, which is just slightly lower than $173.9, the value it saw a week ago. Story continues Yesterday, members of the United States Congress sent a joint request to the Internal Revenue Service to provide clarity on reporting crypto taxes, ahead of the April 15 tax deadline. Also yesterday, a filing dated April 11 revealed that decentralized computing network Blockstack has applied to the U.S. Securities and Exchanges Commission (SEC) to launch a $50 million token sale which if approved would be the industrys first SEC-qualified offering. If approved, the sale would notably see Harvards endowment fund, among others, directly involved in the purchase In traditional markets, the United States stock market is seeing little change so far today, with the S&P 500 seeing no change and Nasdaq down 0.21% to press time. The CBOE Volatility Index ( VIX ), on the other hand, has lost a solid 4.30% on the day to press time. Major oil futures and indexes are showing mixed movements today, with WTI Crude up 1.35%, Brent Crude up 1.12% and Mars US down 1.42% to press time. Opec Basket is also down a slight 0.06% and the Canadian Crude Index has not seen its value change in the 24 hours to press time, according to OilPrices . Related Articles: Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow Bitcoin Climbs Over $5,100 as Top Cryptos See Solid Gains Bitcoin Dips Below $5,000 as Crypto Market Trend Slightly Reverses to Red BTC Tests $5,000 Amid 2019s First Major Crypto Market Recovery || Looking to convert Bitcoin to euro? Follow these tips: If you’re looking to convert Bitcoin to euro, it isn’t quite as straightforward as popping along to your local bureau de change. There are a few different ways to cash in your Bitcoin, and they each have their advantages and disadvantages. The most popular method is to use a centralised exchange like Coinbase or Gemini, but you could also trade your Bitcoin through a peer-to-peer platform or use a Bitcoin prepaid card. Whichever method you use, you need to make sure it is safe and secure. S tart by exploring the reputable exchanges Exchanges like Coinbase and Gemini not only let you buy Bitcoin – they also enable you to sell your Bitcoin and other cryptocurrencies for fiat. The exchanges connect to bank accounts, enabling you to sell your crypto and have euro transferred to your account within a few working days. Exchanges are considered one of the safest ways to convert cryptocurrencies to euro. However, it’s worth bearing in mind that exchanges enabling fiat withdrawals tend to support the most popular coins only. You might need to convert altcoins and tokens into Bitcoin, Litecoin, or Ethereum prior to requesting a withdrawal. Check out local services Local crypto exchange services let you convert Bitcoin to euro by selling your coins to people living nearby. They enable buyers to avoid all the identity verification requirements of the big exchanges. Although most services offer a decent level of protection for buyers and sellers, it’s crucial to understand how they work and what fees they charge. A popular choice is LocalBitcoins.com – a peer-to-peer marketplace where users post bids for buying and selling Bitcoin. Depending on demand, it might be possible to sell your Bitcoin above market value. You can choose to be paid in person, via a bank transfer or online payment processor, or even have the cash posted to you. LocalBitcoins.com has a guide explaining how to stay safe when selling your Bitcoin. Other similar platforms include Paxful and Bitquick. Consider a prepaid card Another way to convert Bitcoin to euro is via a Bitcoin prepaid/debit card. Issued by the likes of Wirex, these cards can be funded via a range of cryptocurrencies. You’ll have to go through the process of applying for a card, but once it’s in your hands, getting cash is really easy. You load the card with Bitcoin from your Bitcoin wallet and then use it to get cash out at ATMs or to pay for goods in a shop. Wirex, which is available throughout Europe, can be used wherever Visa is accepted. Just be aware of the charges – you’ll have to pay a fee for ATM withdrawals and an account management fee. Story continues Find a Bitcoin ATM As well as letting you buy Bitcoin, some Bitcoin ATMs enable you to send Bitcoins to the machine and receive cash in return. This can be a convenient option for people who get paid in Bitcoin. However, the fees can be very high. What’s more, you might not be lucky enough to have a Bitcoin ATM in your local area. Explore crypto loans If you need cash but you don’t want to sell your Bitcoin, a crypto loan could be the answer. Platforms like SALT and Nexo enable you to borrow fiat by putting your crypto down as collateral. Comparing each platform’s loan-to-value ratio and APR will help you to decide which one is for you. A final note Before you convert your Bitcoin to euro, it’s worth considering whether you do really want and need the cash. Once you’ve made the conversion, your Bitcoin will be gone and there’s a chance you’ll miss out on big gains. Bitcoin ATMs and prepaid cards are the speediest ways in which to get hold of cash, whereas the exchanges take several business days. Your decision will ultimately rest on how quickly you need the money, whether you prefer the security of a reputable exchange, and how much you’re willing to pay for the conversion. For more news, guides, and cryptocurrency analysis, click here. The post Looking to convert Bitcoin to euro? Follow these tips appeared first on Coin Rivet . View comments || Greedy Bitcoin Traders Drive Fees up 200% – Here’s What You Can Do: A CCN reader wrote in to ask us to explain why he has 13 payments pending in the Bitcoin blockchain. The answer is simple enough: at any time, the Bitcoin main chain can become congested. The only way to ensure Bitcoin payments arrive in a very timely fashion is to either pay the highest possible fee or useLightning Network, which is still gaining traction.
For all the fanfare, regular Bitcoin wallet users vastly outnumber Lightning’s users . Therefore, miners are cleaning up in terms of fees right now. According to a sitethat tracks Lightning Network data, the average “channel” size is just $137 and change at press time. There are close to 39,000 channels, and the network’s total capacity is under $5.5 million.
Meanwhile, between blocks 570,170 and 570,179, just over 26,000 transactions were processed by Bitcoin miners. A total of roughly 153,400 BTC ($765,400) were transacted over this period (less than 2 hours), not including 125 new BTC created or over 15 BTC in fees collected by miners. The current “feerate,” according to Chain.so, is about $1.15 or 0.00022991 BTC per 1000 bytes (just under a kilobyte). Properly formed BTC transactions can be as small as 0.2KB if they have only one input.
Transactionslike this oneare minimal, but due to the value transacted, whoever sent it decided to pay a much higher-than-standard fee to ensure inclusion. They spent a total of around $40 to post close to $1800 – the transaction size was 225 bytes. This fee is about $12 less than it would have cost to send the same amount via Paypal, according toSalecalc.com.
Congestion is particularly common during bull price movements, like the ones we’ve seen this week, where Bitcoin’sgained nearly $1000 in a matter of hours.Traders rush to get their deposits onto exchanges, and given the profit incentive, they’re willing to pay higher fees to do so. The higher the average price that people are willing to pay, the higher the fee users will need to pay to expect a reasonable delivery time frame.
As a result, there are currently over 75,000 unconfirmed transactions. Their odds of being confirmed lessen with each increase in the average fees paid by newer transactions. Miners have the incentive to accept the highest paying transactions first, of course; thus the issue exacerbates itself as demand for Bitcoin transactions increases. If no new transactions were sent for the next five hours, all of the operations in the “mempool” could be processed in order of fees paid.
Space on the Bitcoin blockchain is incredibly limited and valuable. A long debate, sometimes referred to as a “war,” spanned over two years while people likeMike Hearn,Roger Ver, andGavin Andresenargued that increasing the block size (also known as “on-chain scaling”) was necessary to prevent congestion.
Read the full story on CCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
2019/03/11 06:00
#Binance 格安コイン
1位 #NPXS 0.00000016 BTC(0.07円)
2位 #BTT 0.00000020 BTC(0.09円)
3位 #BCN 0.00000022 BTC(0.1円)
4位 #DENT 0.00000023 BTC(0.1円)
5位 #HOT 0.00000028 BTC(0.12円)
#仮想通貨 #アルトコイン #草コイン || #QuarkChain #QKC #Blockchain #BTC #ETH #blockchaintechnology #shardinghttps://twitter.com/qc_qizhou/status/1111117567689674757 … || 24H
2019/04/27 15:00 (2019/04/26 15:00)
LONG : 18270.21 BTC (-23.63 BTC)
SHORT : 30196.06 BTC (+168.27 BTC)
LS比 : 37% vs 62% (37% vs 62%) || Bitcoin isn't the needle, it's the camel. || 現在の1ビットコインあたりの値段は433,058.6260円です。値段の取得日時はMar 26, 2019 01:05:00 UTCです #bitcoin #ビットコイン || Daftar di Luno dengan kode undangan saya dan kita berdua akan mendapatkan Bitcoin senilai IDR 25.000,00 setelah Anda deposit uang ke dompet Luno Anda lalu jual beli Bitcoin senilai IDR 500.000,00 (tidak termasuk transaksi Exchange): https://www.luno.com/invite/W44UZR
#Bitcoin #Indonesia || 03/10 08:00現在
#Bitcoin : 433,415円↑
#NEM #XEM : 5.0403円↓
#Monacoin : 134円→
#Ethereum : 15,095円→
#Zaif : 0.1824円→ || $CLSH
CLS Holdings USA Inc.'s Set New Record for Monthly Revenue, Exceeding USD $1,000,00.00
http://bit.ly/2YFvwHc
#ad #wsj #nytimes #reuters #bloomberg #thestreet #forbes #nasdaq #IHub_StockPosts #newyork #business #bitcoin #blockchain #crypto #cannabis #marijuana #CBDpic.twitter.com/HsudXVbbjJ || #Doviz
-------------------
#USD : 5.4740
#EUR : 6.2152
#GBP : 7.2035
--------------------------------------
#BTC
-------------------
#Gobaba : 23983.82
#BtcTurk : 21922.00
#Koinim : 22000.00
#Paribu : 21900.00
#Koineks : 21974.99 || Apr 08, 2019 06:02:00 UTC | 5,293.10$ | 4,712.80€ | 4,051.10£ | #Bitcoin #btc pic.twitter.com/HNzVJPs0GU
|
Trend: up || Prices: 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90
|
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)]
Better Buy: Sierra Wireless Inc. (SWIR) vs. NVIDIA (NVDA): The technology sector is full of companies with potential, but with a nearly endless number of trends to follow, it can be difficult for investors to know which ones are leaders in their markets, and which ones are just placing bets. Today, let's take a look at two very different companies -- Sierra Wireless (NASDAQ: SWIR) and NVIDIA Corp. (NASDAQ: NVDA) -- both of which are making big moves across a wide variety of technology segments, including the Internet of Things (IoT), driverless cars, and artificial intelligence (AI). Each is a leader in its respective niche, but which is the better buy for investors right now? Person holding smartphone with chart on it and chart in background. Image source: Getty Images. The Internet of Things pure play There aren't many companies that are pure plays on the IoT, save for Sierra Wireless. The Internet of Things, broadly speaking, describes the connecting of formerly isolated devices and objects to the Internet . For example, smartwatches, fitness trackers, cars with infotainment systems or driverless technology, and smart thermostats are all examples of IoT devices. Sierra Wireless makes most of its money by selling hardware -- like cellular connectivity and Bluetooth chips -- to device makers. Sierra calls this segment OEM Solutions, and in its most recently reported quarter, that business unit brought in $135 million and accounted for 72% of the company's top line. But as anyone who follows the tech industry will tell you, hardware sales can be fickle, and many companies are looking to long-tail recurring software sales to diversify and grow their revenue. That's why it's important to point out that Sierra's IoT services segment brought in 10% of the company's total sales in the first quarter, and the company expects that percentage to increase to 15% in the coming years. So Sierra is betting on the IoT, but what's the real opportunity here? Research company MarketsandMarkets estimates that the IoT chip business (everything from processors to connectivity chips) will be worth $14.8 billion by 2022. That may not seem like a lot compared the broader IoT market, which could be worth more than $6 trillion by 2025 . But when you consider that Sierra's revenue in Q1 was just $186.9 million, an addressable market of $14.8 billion looks huge. Story continues In Q1, Sierra grew its OEM Solutions business by just 2%, while its IoT services segment soared by 217%. That increase was so sharp thanks to its recent acquisition of Numerex , a specialist in managed IoT enterprise solutions. Slowing growth in OEM Solutions sales isn't a great trend, of course, but the company has new sales opportunities in the pipeline, including a deal to provide chips for Volkswagen's vehicles, which should help expand its hardware revenue in 2019 and 2020. Sierra's shares trade at just 13 times the company's forward earnings. That makes them relatively inexpensive compared the rest of the tech sector, though investors should be ready to stomach some volatility with this small-cap company as the IoT market begins to grow. The case for NVIDIA Investors are likely familiar with NVIDIA. The company has received lots of attention for its graphics processing units (GPUs), which are now being used in a wide array of applications, from gaming to driverless cars to cryptocurrency mining to artificial intelligence (AI) data centers. The opportunities for NVIDIA in the autonomous vehicle and AI arenas have helped boost investor sentiment, and pushed its share price up 1,000% over the past three years. I'll get to those opportunities in just a second, but investors considering the stock now should know that NVIDIA still relies on the gaming segment for the bulk of its sales. In the first quarter of its fiscal 2019, GPUs sold for gaming accounted for nearly 54% of the company's total revenue. What's great about NVIDIA's gaming business is that it's a consistently huge sales growth driver -- sales jumped about 68% year over year in fiscal Q1 -- and the company dominates the discrete desktop GPU market with a 66% share. NVIDIA's gaming business growth is certainly impressive, but it has lots of other irons in the fire. One of its most significant opportunities is in supplying graphics processors to companies who use them to power AI applications in data centers. Amazon and Alphabet already use the company's chips for cloud computing AI processing, and there are plenty of other potential customers. NVIDIA's management believes that the company's total addressable market in the AI segment could reach $40 billion by 2023. Additionally, NVIDIA has moved rapidly to stake a claim in the semi-autonomous vehicle market. It's on the third version of its driverless car supercomputer, the Drive PX Pegasus , which processes the image information vehicles receive from their onboard cameras, and has the computing power to serve as the brains in a fully autonomous vehicle. The company is working with automakers to bring its technology to market; management says that in just a few years, Pegasus systems will be controlling fully autonomous taxis on our nation's roads. The company estimates that its total addressable market for driverless cars will reach $60 billion by 2035. That's a vast jump from the revenue the self-driving vehicle segment currently brings on for the company: In fiscal Q1 2019 NVIDIA earned just $145 million from its driverless car tech, about 4.5% of its total revenue. NVIDIA's shares trade at about 30 times the company's forward earnings right now, which puts its valuation about on par with the tech industry's average forward P/E. What's great about this company is that its core gaming business is very strong, even as it builds out new opportunities in AI and driverless cars. That solid foundation means investors won't have to worry too much, even if some of the company's other businesses don't develop as quickly as expected. The verdict NVIDIA gets the win in this match-up because of its strong gaming business and its ongoing diversification into new tech opportunities. While Sierra has a lot of potential, the company is putting all of its eggs in the IoT basket. Meanwhile, NVIDIA may be primarily a company that makes processors for gaming, but it also happens to be making serious inroads into the high-potential AI and driverless car markets. Neither of those are even close to mature markets yet, which means NVIDIA still has plenty of time to expand its footprint in these segments. I think Sierra is still a great Internet of Things investment, but between these two companies, I'd feel more comfortable putting my money into NVIDIA. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This 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. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Nvidia, and Sierra Wireless. The Motley Fool has a disclosure policy . || Bitcoin: An Alternative Solution to Venezuela’s Economic Crisis: One million units of a nation’s currency to buy a cup of coffee would have been unthinkable before now.
This is the case in Caracas, Venezuela, today, where it now costs one million bolivars to buy a single cup of coffee. This is due to the hyperinflation of the past 12 months in the once-rich OPEC country, which has now climbed to 43,378 percent.
In April 2018, the nation’s president,Nicolas Maduro, ahead of the presidential elections announced an increase of 155 percent in minimum wage. Even then, the increase represented a 13 percent fall in dollar terms as Maduro blamed his nation’s predicament on an “economic war” waged against his government by Washington and the country’s opposition.
Contrary to Maduro’s claims, bad governance, poor economic policies and falling oil prices have been identified as reason for Venezuela’s economic woes. This dates back to the days of Maduro’s predecessor when the country failed to capitalize on the boom in oil revenue as far back as the 90’s.
Considering the declining economic conditions, citizens naturally pursue alternative means of storing value. Early 2017, the country experienced a cryptocurrency boom which saw a record exchange of 805 bitcoins in one week. This figure dropped afterwards, but has surged again in the first quarter of 2018 as revealed bytrading volumes on LocalBitcoins.
Despite the recent hyperinflation of the bolivar in recent weeks, one would expect thatbitcointrading volume will increase in coincidence. But this is not the case as the weekly trading volume has remained almost at the same level. According to the Founder ofBitcoinVenezuela.com, Randy Brito, this may be as a result of the recent regulations imposed by government, among other reasons.
Brito said to CCN:
“Logic would make us think that the volume (measured in BTC against the USD) should increase with the rampant inflation of Venezuelan’s Bolivar, but it doesn’t look like it is happening. This could be due to the real number of users hasn’t increased much, or the total value they transact hasn’t actually increased much. Maybe caused by the stricter trading and mining regulations imposed by the Government recently”.
There are plans already on ground tooverhaul the bolivarby the Venezuelan government by removing three zeros and devaluing the currency. This is now slated to happen on Aug. 4, 2018. The impact that this will have on the economy remains to be seen as citizens continue to seek alternative store of value.
While the government works on its own plans to rescue the economy, other independent sources are taking steps that they assume would be helpful for the citizens who have been the direct victims of the situation. One such initiative isJonathan Wheeler’s project, which is aimed at raising a lot of bitcoins and getting it into the hands of Venezuelan citizens via a massive mobile airdrop.
Images from Shutterstock
The postBitcoin: An Alternative Solution to Venezuela’s Economic Crisisappeared first onCCN. || New Zealand Dollar Slightly Higher as Inflation Expected to Remain Steady: The U.S. dollar was seen posting gains on Friday as price action remained strong toward the close of the week. The economic data was quiet for the most part. Switzerland’s PPI figures released earlier in the day showed a 0.2% increase on the month as expected. The U.S. import prices fell 0.4% missing estimates of a 0.1% increase instead. Previous month’s data was revised higher to 0.9%. Earlier in the day, China’s GDP report showed that the economy advanced 6.7% matching estimates. Industrial production was, however, weaker, rising just 6.0% and falling short of the 6.5% forecast. The economic data for the day includes the U.S. retail sales figures. Economists forecast that headline retail sales increased 0.4% on the month. This marks a slower pace of increased compared to the 0.8% gain seen the month before. Core retail sales are also forecast to rise 0.4%. New Zealand will be releasing its quarterly CPI later tonight. Forecasts point to a 0.5% increase in inflation during the second quarter. The New Zealand Dollar gained 0.07% on Monday morning, trading at 0.6772. Does your trading knowledge measure up? Check out our Learn Forex Basics! EURUSD intra-day analysis EUR/USD 4H Chart EURUSD (1.1683): The EURUSD was seen falling to a fresh 10-day low on Friday as price action touched 1.1608 on the day. However, the intraday declines recovered as the currency pair managed to close slightly bullish. Price action was seen closing near 1.1695 on Friday’s close which marks the previously breached support level. A rebound off this level is required in order to confirm the upside in prices. If the EURUSD posts a reversal near this price level we expect to see further declines that could send the common currency falling toward 1.1600 regions. USDJPY intra-day analysis USD/JPY 4H Chart USDJPY (112.48): The USDJPY currency pair rallied to a six month high on Friday before giving up the gains. Price action quickly reversed back to 112.28 level. As long as this minor support holds, the currency pair could be seen consolidating at the currency levels. In the event of a break down below this level, then USDJPY could extend the losses toward the next lower support at 111.13. However, the major falling trend line is expected to act as dynamic support in the short term. XAUUSD intra-day analysis Gold 4H Chart XAUUSD (1243.21): Gold prices were seen posting declines on the day as price touched fresh intraday lows of 1240.81. The recovery in the declines saw gold prices trading back near the price level of 1242. A breakout above this level is required to confirm the upside momentum that could be building up. Failure to close above 1247 could, however, trigger further gains that could push the price of spot gold toward the 1258 handle. To the downside, we expect to see price action consolidating at the current levels. Story continues This article was written by Orbex {alt} This article was originally posted on FX Empire More From FXEMPIRE: Stellar’s Lumen Technical Analysis – Looking Bullish – 16/07/18 EUR/USD Mid-Session Technical Analysis for July 16, 2018 GBP/USD Daily Price Forecast – GBP/USD Continues Upward Movement despite Brexit Woes Commodities Daily Forecast – July 16, 2018 New Zealand Dollar Slightly Higher as Inflation Expected to Remain Steady Bitcoin – A Consolidation or Back in the Hands of the Bears View comments || Bitcoin's Price Needs Move Above $8,350 to Regain Bull Bias: Bitcoin's (BTC) price is consolidating in a narrow range at press time and could regain bullish momentum above $8,350, technical charts indicate.
The leading cryptocurrency moved back above $8,000 on Friday asexpected and was seen rising to recent highs above $8,500 over the weekend.
However, BTC has traded in a sideways manner in the last 60 hours. The upside has been capped around $8,300 and dips to $8,050 have been short-lived, according to Bitfinex data.
A Blueprint for Reforming the Crypto Token Market
Despite thebull breakout, the priceconsolidationhas neutralized the immediate bullish outlook, yet it is still too early to call a bearish reversal. Further, buyers may feel emboldened if the $250 trading range is breached to the upside, resulting in a resumption of the rally.
As of writing, BTC is changing hands at $8,170 on Bitfinex.
BTC witnessed a descending broadening channel breakout on Friday â a continuation pattern â which signaled a revival of the rally and opened the doors to a re-test of $8,507 (July 24 high).
Blockstack's First Business App Wants to Help Employees Earn More Crypto
However, the bullish move failed to materialize and the cryptocurrency ended up creating a sideways channel over the weekend, as seen in the above chart.
An upside break of the sideways channel now would validate the descending broadening channel breakout and allow a rally to 200-day moving average (MA) of $8,468. On the other hand, a move back into the descending broadening channel could prove costly.
That said, the probability of a bullish breakout of the sideways channel is high as the major moving averages are biased toward the bulls. For instance, the 50-candle, 100-candle, and 200-candle MA are trending north and located one below the other.
The relative strength index (RSI) is no longer reporting overbought conditions, meaning there is room for a rally to recent highs above $8,500 on the upside break of the sideways channel seen in the 4-hour chart. Further, the 10-day MA continues to rise in a bullish manner.
• Bitcoin's price consolidation, when viewed against the backdrop of the descending channel breakout, indicates bullish exhaustion. Consequently, the immediate bullish outlook has been neutralized.
• A break above $8,340 (upper end of the sideways channel) would allow a re-test of $8,468 (200-day MA) and $8,507 (July 24 high). A daily close (as per UTC) above the 200-day MA would confirm a long-run bear-to-bull trend change.
• On the downside, a fall back into the descending broadening channel would shift risk in favor of a deeper price pullback to the 100-candle MA in the 4-hour chart, currently located at $7,496.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; Charts byÂTrading View
• Rejection Aside, Calls for a Bitcoin ETF Are Only Escalating
• What Volatility? How Facebook's Historic Loss Became Crypto's Gain || Crude Oil Price Update – Not Too Complicated: Strengthens Over $75.27, Weakens Under $72.14: U.S. West Texas Intermediate crude oil futures settled lower last week. Although it posted a higher-high, lower-close, it did manage to close above the mid-point of the week and the opening. This suggests there is some resistance in the market, but not enough to attract short-sellers. August WTI crude oil settled at $73.80, down $0.35 or -0.47%. The market is being underpinned at this time because the bullish fundamentals outweigh the bearish fundamentals. Although this could change with information we are not aware of at this time. A few of the bullish fundamentals include the on-going production cuts by OPEC-led producers, supply disruptions in Canada, Venezuela and Libya, and the looming sanctions on Iran which are expected to cut nearly 5% of the world’s oil supply from the market. A few of the potentially bearish fundamentals are increased production from Saudi Arabia, Russia and the United States. Traders are also watching for signs of lower demand due to global economic downturns caused by the escalating trade dispute between the United States and China. Daily August WTI Crude Oil Weekly Technical Analysis The main trend is up according to the weekly swing chart. After a four-week setback, the uptrend resumed two weeks ago when buyers took out the main top at $72.70. A trade through $75.27 will signal a resumption of the uptrend. Based on the swing chart, the next target would then come in at $81.09. Traders should watch the price action and read the order flow at $72.14 this week. Taking out this level will confirm the potentially bearish higher-high, lower-close chart pattern. Crossing to the weak side of the previous top at $72.70 will mean the selling is getting stronger. The first target is the long-term Fibonacci level at $70.51. This is followed by the short-term retracement zone at $69.34 to $67.93. A move into these levels will indicate the market is correcting while a trade through $63.40 will change the main trend to down. The Week Ahead – Trump, Trade and Monetary Policy in the Spotlight Stocks Finish Week Higher, but Yield Curve Suggests Recession on the Horizon Mexico – The Year of Political Shocks Roll-On Story continues Weekly Technical Forecast Based on last week’s chart pattern and the close at $73.80, the direction of the August WTI crude oil market this week will be determined by trader reaction to last week’s high at $75.27 and last week’s low at $72.14. Holding between these levels will form an inside move. This will indicate investor indecision and impending volatility. Taking out $75.27 will signal the presence of buyers. This will also put crude oil on the strong side of a long-term downtrending Gann angle at $75.08. If buyers can turn these levels into support then look for them to make a run at the steep uptrending Gann angle at $75.40. Crossing to the strong side of $75.40 will indicate the buying is getting stronger. This could trigger a surge into the long-term downtrending Gann angle at $78.10. This is the last potential resistance angle before the $81.09 main top. Follow FXEmpire on Medium This article was originally posted on FX Empire More From FXEMPIRE: Alexis Webster Joins FXTM as Chief Commercial Officer These are the Top Venture Capital Firms Investing in Blockchain USD/JPY Fundamental Weekly Forecast – Traders Reacting More to Treasury Yields Than Stock Market Bitcoin Cash, Litecoin and Ripple Daily Analysis – 08/07/18 E-mini Dow Jones Industrial Average (YM) Futures Analysis – Rally Over 24586 Could Drive Market into Major 50% Level at 24925 AUD/USD and NZD/USD Fundamental Weekly Forecast – Were Rallies Fueled by Position-Squaring or Change in Sentiment? || Benzinga's Bulls & Bears Of The Week: Bitcoin, Intel, Lockheed Martin, Walgreens And More: • Benzinga has featured looks at many investorfavorite stocksover the past week.
• Bullish calls included an aerospace leader and a Latin American beverage giant.
• Bearish calls included a top semiconductor maker and a specialty retailer.
The earnings reporting season was in full swing this past week, and the sting of the trade wars is already being felt by many U.S. sectors and companies. The S&P 500 and the Dow Jones industrial average eked tiny gains again, but the Nasdaq lost ground due to disappointing results from Facebook.
As usual, Benzinga continues to feature looks at the prospects for many investors' favorite stocks. Here are just a few of this past week's most bullish and bearish posts that may be worth another look.
Bulls
"4 Reasons Behind Cowen'sLockheed Martin Upgrade" by Jayson Derrick looks at why one key analyst has now taken a bullish stance onLockheed Martin Corporation(NYSE:LMT), maker of a new stealth fighter.
In "SunTrustUpgrades Baker HughesAfter 'Several Solid Quarters'," Bill Haddad examines what has improved the featured analyst's optimism about the earnings power ofBaker Hughes A GE Co(NYSE:BHGE).
Wayne Duggan's "Argus Sees EvenMore Upside For AMD" shows why semiconductor makerAdvanced Micro Devices, Inc.(NASDAQ:AMD) is now firing on all cylinders and why its stock still looks cheap after a post-earnings rally.
See whyMosaic Co(NYSE:MOS) should see some relief from the near-term negatives, according to "MosaicEarns Double UpgradeOn Sustainable Recovery In Phosphate" by Elizabeth Balboa.
In Shanthi Rexaline's "Barclays Turns Bullish On AmBev's Story," see why better-than-anticipated results and an improving outlook turned one analyst upbeat on Brazilian brewerAMBEV S A/S(NYSE:ABEV).
Also have a look at "A Running List Of The Companies Blaming Trade Policy For Stifled Earnings, Guidance."
Bears
"4 Reasons Why BofA Downgraded Intel After The Q2 Print" by Shanthi Rexaline examines why, despite a beat-and-raise quarter, four factors could keepIntel Corporation(NASDAQ:INTC) stock rangebound.
In Hannah Genig's "Pivotal Downgrades Spotify, Says YouTube, Facebook Pose Threat," see what underappreciated risks may not be reflected in the current valuation ofSpotify Technology SA(NYSE:SPOT).
Bitcoin rose more than 17 percent in the past week, according to "This Technical Indicator Suggests Bitcoin's Rally May Be Overbought" by Wayne Duggan. See what the cryptocurrency's prospects are for the longer-term trend.
In "Walgreens Is 'Poorly Positioned' In The Evolving Retail Pharmacy Space, Cowen Says," Jayson Derrick looks at what one analyst sees as the failure ofWalgreens Boots Alliance Inc(NASDAQ:WBA) to fully embrace industry change.
Jayson Derrick's "Stifel Downgrades Papa John's To Sell Amid 'Fraternal Corporate Culture'" examines what's hurting the prospects of a turnaround or buyout forPapa John's Int'l, Inc.(NASDAQ:PZZA).
Be sure to check out "All The Major Executive Departures Of 2018 — So Far" as well.
At the time of this writing, the author had no position in the mentioned equities.
Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.
See more from Benzinga
• Insider Buys Of The Week: BlackRock, Dish Network, Walgreens
• Benzinga's Bulls & Bears Of The Week: AT&T, Facebook, Intel, Netflix, Twitter And More
• Benzinga's Bulls & Bears Of The Week: Amazon, GE, Intel, T-Mobile And More
© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Are Start-Ups Dying?: Years ago, it probably seemed like everyone you knew was working at a start-up. And despite their quirks and challenges , it's hard to argue the fact that at one point in time, start-ups were a boon to the U.S. economy, creating jobs and opening doors for entry-level workers looking to accelerate their careers. But these days, it seems like start-ups are far less ubiquitous, and that's not necessarily a good thing. In 1985, businesses that were less than two years old comprised roughly 13% of companies in the country. By 2014, they accounted for just 8%. Young male writes on a white dry-erase board while male and female observe IMAGE SOURCE: GETTY IMAGES. Why the decline? Part of it has to do with funding or a lack thereof. These days, start-ups are no longer the novelty they once were, and given the failure rate among new businesses, many investors would probably rather sink their money into reputable ventures with a greater likelihood of being profitable. Furthermore, start-ups often have a hard time attracting talent , since they lack the resources larger firms possess. Think about it: Many workers want the stability of an established company and the salary and benefits that tend to come with working for one. Furthermore, individuals who are entrepreneurial in nature will frequently opt to go out on their own rather than have to play by somebody else's rules. So how can start-ups survive in this day and age? Here are a few tips for getting a new venture off the ground so that this once-positive trend can kick off its glorious comeback. 1. Have a truly unique business proposition and model Let's face it: There's a lot of competition out there, and while you might think you have a novel product or service to bring to the market, if you do your research, you'll probably find that there's a version of it already in play. That said, our economy is build on competitiveness, but to succeed, you'll need a solid advantage . So think about what makes your company different from the pack and play on that strength as you develop your business model. Story continues 2. Focus on one key product or service One mistake that many young companies make is trying to grow and broaden their horizons too quickly. Rather than spread yourself too thin, find the one thing your business is great at and hone it. You're better off being successful in one specific arena than failing in a lot of different ones. 3. Avoid already saturated markets As stated above, competition is par for the course no matter what industry you're in. But that doesn't mean you can't take steps to avoid getting lost in the shuffle. If there's a product you're looking to offer that's already out there in every retailer imaginable, tweak that product so that it clearly stands out. Otherwise, you may have a hard time getting consumers to buy in, since they tend to be loyal to the brands they already know. 4. Invest in a solid team Start-ups are notorious for offering low salaries and lackluster benefits while demanding a lot from their employees -- thus, plenty of talented job seekers out there would rather not work for one. But if you really want to grow your business, you'll need to sink some money into establishing a strong team that can help you achieve that goal, so aim to raise the capital needed to make working for your company seem attractive. The fact that new businesses are on the decline means that job opportunities might soon follow suit. And that's not great for anyone who believes in a diverse economy. If you're thinking of starting a company, approach that venture strategically, but don't be afraid to give it a shot -- because you clearly can't succeed if you don't at least try. 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 . || 3 Reasons Why Bitcoin Market Remains Optimistic Despite $6,000: On June 23, CNBC Fast Trader hosted a show dedicated to presenting the “Bitcoin Funeral,” a witty introduction to BKCM founder and cryptocurrency investor Brian Kelly’s discussion on the recent bitcoin correction and its future price trend.
On CNBC Fast Trader, Kelly outlined three major reasons bitcoin will recover in the mid-term back to its previous support levels at over $10,000:
Negative sentiment from investors signalling imminence of a bottomPositive development within the Japanese cryptocurrency exchange marketMt. Gox liquidation of bitcoin postponed to 2019
Referring back to the basic rule of investing, Kelly noted that during a period in which the market is extremely bullish and optimistic, it is better to sell and eye a timely opportunity to enter and when the market is overly pessimistic, it is wise to look for a position to enter.
Given the negative sentiment towards the cryptocurrency market by investors, Kelly explained that the major correction of the cryptocurrency market will likely bottom out in the near future, likely in the next two to three months to begin a mid-term rally in the fourth quarter of this year.
More importantly, Kelly stated that the Japanese government’s move to tighten regulations, clean up the cryptocurrency market, and legitimize the Japanese cryptocurrency sector is a positive development for the long-term, as it would prevent major hacking attacks like the Coincheck security breach and allow investors in the public market to gain trust in local exchanges.
Kelly said:
“Japanese exchanges were ordered to improve business conditions [by the government]. It’s actually a good thing. Short run it’s going to be a little tough because they’re stopping new accounts from coming in but actually they’re cleaning up the system. They’re making sure it’s more robust. Making sure it’s better for people.”
South Korea, the third largest cryptocurrency exchange market behind the US and Japan, have also started to prepare a cryptocurrency regulatory framework to regulate cryptocurrency exchanges as banks, to prevent hacking attacks and money laundering, while legitimizing the cryptocurrency sector to protect investors and set an industry-wide standard for businesses.
Throughout 2018, several Mt. Gox sell-offs of tens of thousands of bitcoin led the market to crash, preventing BTC from gaining momentum at certain periods.
Kelly emphasized that the delay of Mt. Gox bitcoin sell-off until early 2019 is an optimistic factor to consider, as a major factor to a potential market sell-off has been eliminated, at least in the mid-term.
“Mt. Gox is going into rehabilitation and they’re going to distribute the rest of the $1 billion worth of bitcoin. But here’s what is great about that, they’re not going to distribute it until quarter 1 of 2019. All of the sudden everyone thinks there is going to be a wave of selling. Not happening now,” explained Kelly.
The three factors outlined by Kelly could fuel the next mid-term rally of BTC and the positive developments in the Japanese and South Korean cryptocurrency markets will enable the market to grow with stability and trust from investors, that will be largely beneficial in the long run.
The post3 Reasons Why Bitcoin Market Remains Optimistic Despite $6,000appeared first onCCN. || Better Buy: Apple Inc. vs. Google: Apple (NASDAQ: AAPL) and Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) are favorites in the quest to become the first $1 trillion company by market cap. But the race itself is irrelevant. One way or another, Apple and Alphabet will command 13-figure market capitalizations sooner or later. Hitting $1 trillion first will come with little more than bragging rights, as we're really just talking about two tech giants appreciating by roughly 5% to 10%. Apple may hit the mile marker as soon as this week if it comes through with a blowout quarter after Tuesday's market close. Investors should concern themselves with bigger gains, so it's more important to ask which stock has the better chance to produce greater returns over the long haul. With that in mind, let's go over the growth prospects for both tech darlings, following that with some perspective on valuation and income. An instructional session at an Apple Store. Image source: Apple. Revenue growth If top-line bursts were all that mattered, Alphabet would take this battle in stride. Apple's revenue has historically taken big steps when the company introduces bar-raising iPhone models, but for the most part it doesn't do much outside of those spikes. Apple has come through with double-digit percentage revenue growth just once in the last five fiscal years, and its three-year annualized growth rate clocks in at a modest 5.2%. Alphabet, on the other hand, checks in with a three-year annualized growth rate of 21.2%, and it's five for five, having grown its top line in the double digits over the past five years. Both companies are riding high lately: Revenue growth at Google is accelerating for the third year in a row, while Apple is working on its second year of accelerating revenue growth. Apple is coming off of three straight quarters of double-digit percentage growth, with analysts expecting that streak to stretch to four quarters with Tuesday afternoon's report. Looking ahead, analysts see Apple falling back to near its historical levels -- modeling just 4.5% growth in fiscal 2019. Alphabet will likely join Apple in decelerating revenue growth next year, but Wall Street pros are targeting a 19.4% spurt. In short, Alphabet takes the revenue growth category. Story continues Valuation The comparisons get kinder for Apple when we start applying common valuation metrics. Alphabet trades at a rich 31 times this year's projected profit and 26 times next year's target. The fight on this front is not even close, with Apple fetching 17 times this year's earnings and just 14 times next year's analyst estimate. In terms of revenue multiples, Apple runs away with this race. Apple's enterprise value is 3.9 times its trailing revenue. Alphabet has a loftier multiple of 6.2. A few years ago, the argument could be made that Alphabet warrants a higher multiple since Apple's hardware emphasis makes it a lower-margin business, but that hasn't been the case lately. Gross margin at both companies is shrinking for the third fiscal year in a row, but Apple's net profit has held up well. Alphabet clocks in with a lower net margin as it invests in less profitable growth at YouTube, Waymo, and other businesses. Income investors also don't have a choice here. Apple pays a modest 1.5% yield at current prices, but that's 150 basis points more than Alphabet. Google's parent company doesn't pay out dividends, and it's not likely to start anytime soon. The advantage here goes to Apple. Let's break a tie The fashionable answer here would be Apple. It's the one stock that could make big headlines this week if it cracks $1 trillion in market cap later this week. Out of the two stocks, it's the one I own personally. Nevertheless, I'm going to give Alphabet the "better buy" victory here. Alphabet's a beast. The sky-high earnings multiple is the result of suppressed earnings that will be easier to gain back than it will be for Apple to expand on its profitability. Both companies have their risks. Apple has too much riding on the iPhone, and we've seen performance lulls between major updates. Alphabet's growth has been far more consistent, but it, too, is vulnerable to a search or social platform making it less inviting for folks to belly up to the Google address bar. I think both stocks will be winners, continuing to beat the market. However, if I had to choose the stock that would be higher a year from now, I'd have to go against where my own money is and side with Alphabet. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Rick Munarriz owns shares of Apple. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || Bitcoin Cash Network Highly Centralized, 49% of all Nodes Run on Alibaba’s Facilities: Bitpico: Weeks after announcing they would be launching an attack on the network ofBitcoin Cash, hacker group Bitpico has disclosed that the altcoin suffers from massive node centralization.
A screenshot of the hacker group’s discoveries was published with one selected instance showing 98% of the IP addresses were physically located close to each other.
In response to the screenshot showing the IP addresses, a Twitter user cited information showing that the servers were hosted on a cloud farm belonging to Chinese online retail giant Alibaba.
The hacker group then estimated that running each of the nodes was costing the Bitcoin Cash network approximately US$100, with the estimated monthly expenditure running to US$100,000. According toBitpico, the number of all Bitcoin Cash network nodes running on Alibaba’s facilities is 49% (1/2 of 98%).
Further proof of a high level of centralization of the Bitcoin Cash network per Bitpico included a recent move by the network to ban four-fifths of the IP addresses associated with the hacker group and which were being used in stress-testing.
However, the claims by Bitpico did not go unchallenged with some users posting conflicting statistics.Accordingto bchnodes.online, for instance, Bitcoin Cash nodes are currently active in 48 countries spread around the world. The highest concentration of nodes is in the United States where approximately 28.26% of the nodes are located followed byChinawith 22.54% of the nodes. Germany comes in third with 10.95% of the nodes.
After emerging from a hiatus that lasted a couple of months, late in June Bitpico announced that they would be launching an attack on the Bitcoin Cash network with the goal of splintering it. As CCN reported then the group promised toinflict grief on BCH evangelist Roger Ver.
“The [Bitcoin Cash] attack has been started; it will continue to run as we work to amplify it over the coming months. We expect to have 5000 Bcash attack nodes in roughly 6 weeks and then we will multi-fork the chain. @rogerkver will now cry,” Bitpico tweeted at the time.
Bitpico members are, however, not alone in accusing the Bitcoin Cash network of lacking decentralization. Last year in December Bitcoin developerNick Szabomade similar accusations. Earlier in the year, a project manager at the Identity Division of Microsoft alluded to Bitcoin Cash bycriticizingblocksize increases as being anti-decentralization. At the time Bitcoin Cash was planning to increase its blocksize fourfold from 8MB to 32MB and this was eventually realized in May.
Featured image from Shutterstock.
The postBitcoin Cash Network Highly Centralized, 49% of all Nodes Run on Alibaba’s Facilities: Bitpicoappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
@satoshi_BTC || @bitcoin_reddit || @btc_reddit || Multiven Launches the B-Fence Program to Actively Monitor and Defend all Bitcoin Nodes - http://moneyincrypto.com/2018/08/03/multiven-launches-the-b-fence-program-to-actively-monitor-and-defend-all-bitcoin-nodes/ …
#moneyincryptopic.twitter.com/O5LbJPbKtO || @btc_0 || Bitcoin Cash Celebrates First Anniversary https://www.cryptocoincache.com/bitcoin-cash-celebrates-first-anniversary/ … || @btc_current || @btc_current || @btc_reddit || @lifeoncoin
|
Trend: up || Prices: 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-05-12]
BTC Price: 8804.48, BTC RSI: 55.99
Gold Price: 1704.40, Gold RSI: 53.15
Oil Price: 25.78, Oil RSI: 54.84
[Random Sample of News (last 60 days)]
First Mover: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost: Is physical gold leaving digital gold behind? It’s a question worth asking, with the yellow metal having rallied over the past four trading sessions to reach a new eight-year high, around $1,725 an ounce. Gold is up 14 percent in 2020, a superlative performance in what has been an annus horribilis for many traditional markets: stocks, oil and industrial metals like copper and aluminum. Related: Bitcoin Price Spikes Above $7.1K, Liquidating $23 Million on BitMEX You’re reading First Mover , CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here . And what about bitcoin , seen by many investors as a digital form of gold due to its perceived use as a hedge against inflation? It’s down 4.1 percent on the year. The gap between gold and bitcoin returns has frustrated traders who predict that trillions of dollars of coronavirus-related emergency aid and monetary stimulus from the Federal Reserve and other authorities will eventually lead to inflation. The International Monetary Fund on Tuesday estimated that the global economy will shrink 3 percent this year, down some 6.3 percentage points below its most-recent projection in January. What’s changed, of course, is the pandemic, which has led to business disruptions and travel cancellations while cratering energy demand and decimating consumer spending. Related: Market Wrap: Bitcoin Price Volatility Declines in Contrast to S&P 500 “The magnitude and speed of collapse in activity that has followed is unlike anything experienced in our lifetimes,” the Washington-based organization’s chief economist, Gita Gopinath, wrote in a blog post . Recessions are often deflationary: Lower demand alleviates upward price pressure on products and services, while surging unemployment makes it harder for workers to demand wage increases. Deutsche Bank says a U.S. government report on Thursday might reveal another eight million jobless claims filed last week, bringing the four-week total to 25 million – at least 10 times worse than any prior comparable period in the past half-century. The unemployment rate would rise to 17 percent, from 3.5 percent as recently as February. Story continues Federal Reserve officials appear determined to keep inflation at bay. The central bank targets annual price rises of 2 percent, and Vice Chair Richard Clarida told Bloomberg Television that monetary authorities “ have the tools to keep the economy out of deflation .” Translation: More money injections are likely. Last week, the Fed’s balance sheet ballooned past $6 trillion for the first time in its 107-year history. So why isn’t bitcoin getting the uplift that gold is enjoying? One possible reason, according to Jeff Dorman, chief investment officer at cryptocurrency-focused firm Arca Funds, is the physical metal is so much easier to buy. That’s especially true for traditional investors who have long turned to gold as a safe haven during times of economic and market turmoil. “Gold can easily be purchased from the same brokerage accounts as stocks/bonds, whereas bitcoin cannot be,” Dorman told CoinDesk in an email. “Anyone who sold equities or debt and is sitting in cash needs to put that money to work, and it’s easier to purchase gold than bitcoin.” It’s as plausible an explanation as any, given that bitcoin was launched just 11 years ago, while gold has served as a symbol of riches at least since the Sumerians civilized Mesopotamia . According to the World Gold Council, an estimated 197,576 metric tons of gold have been mined throughout history. At 32,150.75 troy ounces per metric ton, and based on the current price, that works out to an outstanding value of about $11 trillion. That’s 87 times the outstanding market value of all bitcoin ever produced, currently about $125 billion, according to CoinMarketCap . “People that have money, investment capital, they’re definitely more familiar with gold,” says Phillip Meng , who until recently was head of trading for SFOX, a cryptocurrency trading platform. “Gold is definitely preferable to bitcoin at this point because of just the understanding of the asset and access to the asset.” In extremely uncertain times, people might simply gravitate toward things that are more certain. “I am skeptical that in the time of a severe recession, people would want to deal with an electronic type of entity ,” Frank Shostak, an associated scholar of the Mises Institute and chief economist and director of AAS Economics, told CoinDesk’s Omkar Godbole on Tuesday. Bitcoin has been touted by some proponents as an uncorrelated asset that can help to increase returns in an investment portfolio while reducing overall volatility and risk. But that hasn’t stopped analysts from spotting occasional periods where bitcoin seems to trade in sync with counterparts from traditional finance, from gold to the Standard & Poor’s 500 Index of U.S. stocks to the dollar’s exchange rate with the Chinese yuan. In a report published Tuesday, Coin Metrics, a digital-asset research and data firm, ran the math on bitcoin’s correlation with gold. Historically, the correlation hasn’t been strong, wrote the analysts, led by Nate Maddrey . But since March 12, the depth of the coronavirus sell-off for bitcoin, the correlation with gold has increased. It’s still pretty weak, currently at less than 0.5, where 1 represents perfect synchronicity, 0 is no correlation at all and -1 is a perfectly inverse relationship: “These are small pieces of evidence that the correlation between bitcoin and gold may be growing,” according to Maddrey and the Coin Metrics team. “However, bitcoin’s overall correlation with gold is still relatively weak.” What might be just as interesting, if not more, is that, recently at least, bitcoin does appear to be trading in sync with inflation expectations. The Coin Metrics team analyzed the cryptocurrency’s correlation with the 5-year forward inflation expectation rate, as published by the Federal Reserve Bank of St. Louis. Here’s what that looks like: It’s a pretty stark up-slope at the far-right end of the chart. The takeaway? “Although the short term is still uncertain amidst the global pandemic, this could potentially be a long-term inflection point for bitcoin if federal banks around the world continue to inject money into the global economy at historic rates,” according to the report. There may be hope yet for the bitcoin bugs. Tweet of the day Bitcoin watch Trend : Bitcoin is lacking a clear directional bias for the second day with prices trapped in the $6,600–$7,200 range. The leading cryptocurrency by market capitalization ran into offers near $7,200 over the weekend, as indicated by the long upper wick attached to Sunday’s candle. However, the ensuing price dip found buyers near $6,600 on Monday. The outlook will remain neutral as long as the $600 range is intact. A move above the top end would open the doors for a rally to $7,800 (target as per the measured move method) – a level last seen before the March 12 crash. Alternatively, a range breakdown could encourage sellers and yield a drop to $6,100. The bearish scenario looks most likely currently, as bitcoin’s repeated failure to keep gains above the 100-week average of $7,060 over the last two weeks is indicative of bull fatigue. Further, S&P 500 futures are flashing red at press time, alongside losses in the European equities. Investors are selling risk assets , possibly in response to the International Monetary Fund’s forecast of a 3 percent contraction in global GDP in 2020. That said, losses in both stocks and bitcoin could be limited, with the Federal Reserve injecting an unprecedented amount of liquidity into the system via its open-ended asset purchase program. Professional investors are also sitting on record amounts of cash, some of which may make its way into the bitcoin market ahead of the next month’s reward halving . The event, aimed at controlling inflation, will reduce the amount of bitcoin created every 10 minutes or so from 12.5 BTC to 6.25. First Mover is CoinDesk’s daily markets newsletter. You can subscribe here . Related Stories Blockchain Bites: DLT’s Great Leap Forward, Bitcoin Hoarders and a16z’s New Fund More Investors Are Holding Bitcoin Ahead of the Halving, Data Suggests || In Canada They’re ‘Essential,’ In Argentina They’re Shut Down: Bitcoin Miners Reckon With COVID-19: The “Great Lockdown” is redrawing the bitcoin mininglandscapeas the economic crisis makessmaller operationsless profitable and access to China’s hardware supply chains crucial.
“Many miners are relying on the bitcoin price to increase post-halving in order to stay operationally profitable, and that’s not an ideal situation for any business to operate in,” said F2Pool business director Thomas Heller, leading one of Asia’s largest bitcoin mining operations. “In early March, a number of miners had their bitcoin-backed loans liquidated, and other operators had to turn off their machines.”
It’s hard to say which miners now face crippling debts because few privately owned mining operations court publicity. Among those with public records, the Canadian startup Hut 8 owes roughly $14 million to Genesis Global Capital, an affiliate of the American crypto giant Genesis Trading (which is owned by CoinDesk’s parent company, Digital Currency Group).
Related:Russians Withdrew a Year’s Worth of Cash in a Month Over Coronavirus Fears
Hut 8 CFO Jimmy Vaiopoulos said he is “comfortable with the debt level,” adding the repayment deadline is in 2021 and he expects thebitcoin priceto increase long before that. The loan has an annual interest rate of 9.85 percent.
Read more:Bitcoin Halving, Explained
Canadian mining operations such as Hut 8 have an advantage over some competitors abroad: They are deemed “essential services” under the federal government’s COVID-19 strategy, according to Bitfarms co-founder Emiliano Grodzki.
“This is the reason we can continue working,” Grodzki said of his Canadian company, unlike mining farms in his homeland, Argentina, where miners aren’t permitted to continue as usual.
Related:Some U.S. Citizens Look to Be Splashing Their Stimulus Cash on Cryptocurrency
Plus, with regards to profitability, Vaiopoulos said Hut 8 aims to have updated equipment from Chinese hardware suppliers, which is more efficient than current models.
“There were some delays in terms of equipment,” Vaiopoulos said. “But we’re kind of past that hump.”
However, over the past two months Hut 8 CEOAndrew Kigueland board memberGerri Sinclairboth resigned. During a public earnings call the first week of April, Kiguel said equipment timelines are still unclear, due to the ongoing pandemic.
“The world is grappling right now with different supply chain issues like getting ventilators and masks around the world as opposed to bitcoin mining machines,” Kiguel said during the call.
Read more:How Bitcoin’s Price Slump Is Changing the Geography of Mining
As such, many mining operations around the world are facing this same struggle. BitPatagonia co-founder Walter Salama inArgentina, whose mining farm is temporarily closed by the coronavirus lockdown, said the cost of new machines is his most pressing concern.
“Today the problem continues to be the high cost of machines that do not allow long-term planning,” Salama said. “Moving operations is very expensive. Each country should have the privilege of having mining companies and contribute to the blockchain.”
He predicted “medium and small miners” could disappear as those who provide funds and hardware “concentrate on the larger ones” while “praying to Bitcoin” for a bull market. If this happens, Salma added, it would undercut “the fantasy of decentralization.”
This is why Vaiopoulos said Hut 8 applied for anEmergency Wage Subsidyfrom the Canadian government, an ongoing program to help companies that have lost more than 30 percent of their revenue since 2019 continue to pay salaries.
It’s clear governments have a significant impact on whether bitcoin mining can remain profitable in their respective jurisdictions.
Generally speaking, mining operations require both cheap electricity and government leeway to stay competitive throughout volatile cycles. A longer political chilling effect took place in Iran from 2018 to the present. Iran was once home to a thrivingbitcoin miningindustry due, in part, to subsidized electricity. Then strictergovernmentenforcement damped the domestic mining sector and made businesses even more vulnerable tosupply chaindisruptions.
Regions with robust mining companies, such as China and Russia, havesupportiveregulatory environments. Russia, in particular, is home to astate-owned power plantrenting space to crypto miners.
Read more:A Russian Nuclear Plant Is Renting Space to Energy-Hungry Bitcoin Miners
If Salama manages to get and operate new hardware in Argentina before thehalvingin May, which will reduce miners’ rewards by 50 percent, localoperating costswill still impact his profitability. For example, Chinese miners are expected to get lots ofcheap energyduring the annual “wet season,” July through September, thanks to national hydropower projects.
The strength of local currencies is yet another important factor. Due to the volatile fiat exchange rate, subject to both the Great Lockdown and national policies, Grodzki said Bitfarms’ operational expenses are now basically 10 percent cheaper.
“Our revenue is in bitcoin, which [buyers] value in U.S. dollars. But our operational expenditures are in Canadian dollars,” Grodzki said.
Russia’s mining industry witnessed a similar impact, where a decline inlocal currency valueoffset bitcoin’s own volatility. Even if the price of bitcoin goes down in dollars, it may be up in rubles.
Beyond Hut 8, volatility in both crypto and traditional currency markets may affect even more loans in the months to come. Bitfarms owes roughly$20 millionto the New York-based Dominion Capital LLC.
“We will study opportunities for low-cost electricity in other parts of the world, like Latin America,” Grodzki said. “Miners in other parts of the world with [cheaper] electricity can sell their capacity. … We also expect to find another source of electricity cheaper than Canada.”
David Pan contributed reporting.
• Bitcoin ATMs Expand Despite Shelter-in-Place Rules
• Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume || Profit-Taking Keeps Bitcoin in Tight Range as Fed Reopens Spigot: Bitcoin and ether fell slightly Thursday as traditional markets climbed on additional stimulus measures by the U.S. Federal Reserve and Bank of England. Over the past 24 hours, bitcoin (BTC) was down 1 percent Thursday afternoon New York time and ether (ETH) was down 1.2 percent. Notable gainers on CoinDesk’s big board include dash (DASH) up 8 percent, zcash (ZEC) in the green 8 percent and bitcoin gold (BTG) climbing 4 percent. Digital assets in the red include bitcoin cash (BCH) down 4 percent, tron (TRON) dropping 2 percent and cardano (ADA) slipping 1 percent. All 24-hour price changes are as of 20:15 UTC (4:15 p.m. EDT) Thursday. Related: COVID-19 ‘Immunity Passport’ Unites 60 Firms on Self-Sovereign ID Project In the traditional markets, Asia’s Nikkei 225 index closed flat, down a miniscule 0.04 percent. Japan central bank Governor Haruhiko Kuroda said Thursday that uncertainty about his country’s economic outlook is “extremely high.” Europe’s FTSE 100 ended the day up 2.9 percent as the Bank of England extended an existing agreement to bankroll the U.K. economy . Read more: Bitcoin Garners New Users as Governments Flood World With Fiat In the U.S., the S&P 500 closed New York’s trading day up 1.4 percent. The Federal Reserve announced new stimulus measures to contain the economic fallout from the continuing coronavirus pandemic . Related: Bitcoin Ends Four-Week Winning Run With Drop Into Bear Territory The central bank rolled out a program worth $2.3 trillion , including a “Main Street Lending Fund” of $600 billion to offer support to small and medium-sized businesses, and $500 billion in lending to states and municipalities. The Fed also expanded the size and scope of the Primary and Secondary Market Corporate Credit Facilities and the Term Asset-Backed Securities Loan Facility to support as much as $850 billion in credit. After the Fed announced the new measures, bitcoin rebounded from an intraday low of $7,100, quickly reversing a steep decline. It’s currently trading in a sideways range around the $7,200 level. Story continues Stocks, particularly in the U.S., are seeing gains this week. But there’s some doubt whether this can last. “U.S. stocks will still be in a very precarious situation in April as the ongoing pandemic remains far from over,” said Toby Wu, a senior analyst for multi-asset brokerage eToro. Since taking a beating in mid-March, bitcoin had been steadily climbing, driven by predictions that new-money injections from governments and central banks around the world would eventually spur inflation. Bitcoin is often touted as a hedge against inflation and many analysts say it will benefit one way or another from the unconventional methods adopted by the Fed to combat the coronavirus-led slowdown. If it’s a risk asset, as skeptics see it, bitcoin should rise along with other high-yielding instruments; if it’s truly the haven adherents claim it to be, it should attract investment for that reason. Read more: What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review Perhaps supporting inflationary concerns, foreign exchange traders dumped the U.S. dollar Thursday, sending the dollar index, which tracks the value of the greenback against other major currencies, down to 99.50 from 100.00. Elsewhere, gold, a classic haven asset and hedge against inflation, is currently trading up at 2.4 percent. So why isn’t the bellwether cryptocurrency soaring on the latest intervention announcements? Profit-taking was the name of the game Thursday, market participants said. “Crypto should be higher based on those large moves in conventional markets. However, we have seen net selling today. Traders are taking profit,” said Max Boonen, CEO of B2C2, a London-based over-the-counter (OTC) market maker. This selling seems to be keeping bitcoin stuck in the $7,200 range. “The recent weeks’ rally appears to have temporarily stalled at about $7,400, but the bullish outlook for bitcoin remains intact over the next one to 12 months,” said Greg Cipolaro, cofounder of Digital Asset Research, a cryptocurrency-analysis firm. The case for bitcoin is “probably reinforced by the latest Fed action,” he said in a Telegram chat. Related Stories First Mover: Bitcoin’s Market Cap Eclipses Citigroup’s as Yellen Calls for Big-Bank Dividend Cuts More Profit-Taking? Bitcoin Price Sags 7% Ahead of Easter Weekend || Judge ‘Puzzled’ by Craig Wright’s Objections to Producing Evidence of Over 1.1M Bitcoin: A federal judge said Craig Wright’s objection to handing over crucial evidence regarding billions in bitcoin left her “puzzled,” as he seemed to be arguing the court should “blindly accept” everything he says.
District Judge Beth Bloom overruled Wright’s objections to an Order of Discovery issued by another judge, compelling Wright to produce 11,000 documents for the Kleiman lawsuit. She said the defendant mischaracterized the order and relied on unsubstantiated arguments.
In a highly critical explanation for her decision for the Southern District Court of Florida, Bloom said it was the role of the presiding judge to determine what evidence was admissible in court. She ruled Wright’s arguments that the documents would be inadmissible because they would disregard his attorney-client privilege was a mischaracterization.
Related:Cryptopia Users Win Victory in Court Case Over Crypto Assets Worth Over $100M
The brother of Wright’s deceased business partner is suing Wright for half of the 1.1 million bitcoin supposedly held in a joint mining venture known as the Tulip Trust. Based on today’s price, the overall value of the bitcoin in question would be more than $7.7 billion, according to CoinDesk’sBitcoin Price Index.
Wright has long claimed to have access to the bitcoin but has told the court he couldn’t prove this as it would infringe on the privilege he has with a mysterious Kenyan lawyer known as Denis Mayaka, who is supposedly counsel for the Tulip Trust.
See also:UK Law Panel Defines Crypto Assets as Property
U.S. Magistrate Judge Bruce Reinhart had previously rejected these arguments and evenquestioned whether the lawyer exists. Kleiman’s brother has further accused Wright ofabusing attorney privilegeto withhold evidence and “obfuscate” trial proceedings.
Related:Blockchain Association Says Court ‘Erred’ With Decision to Block Telegram’s Token Issuance
As Bloom said in this week’s court order, Reinhart already highlighted Wright’s relationship with this lawyer could not properly be authenticated. The evidence consists of a LinkedIn printout and typed declaration asserting he is counsel for the Trust. This “could easily have been generated by anyone with word processing software and a pen,” Reinhart had said.
In her reasons for overruling Wright’s objections, Bloom said Reinhart “was not clearly erroneous or acting contrary to law” after he issued the discovery order. “Defendant’s gripe, therefore, is not with the supposed exclusion of the evidence but instead with the weight assigned to it.”
Bloom said Reinhart’s skepticism was justified on the basis of Wright’s history of providing false evidence.
“[T]he Court is puzzled by Defendant’s apparent argument that Judge Reinhart must blindly accept items produced by Defendant such that Judge Reinhart cannot rely on his past experiences with Defendant in this litigation (including his history of providing forged materials and giving perjured testimony) in evaluating whether Defendant has carried his burden as to privilege.”
“That is not how fact-finding works,” Bloom added.
See also:Mark Karpeles Accuses Plaintiff in Mt. Gox Lawsuit of Attempting to ‘Thwart’ Court
Bloom found nothing to support Wright’s argument that producing the evidence would leave him in violation of Australian law. She also threw out claims the magistrate judge should have determined whether documents were relevant to the proceedings before ordering Wright to produce them in court.
The court order is the latest development in a long lawsuit characterized by bad blood on both sides. Wright was previously found to be incontempt of court, while just last month Reinhartcriticized Kleiman’slegal team for charging “excessive fees” that were to be paid by the defendant due to the drawn-out proceedings.
Wright now has until April 17 to produce the requested documents.
See the full filing below:
• Telegram Hopes It Can Still Sell Tokens to Non-US Investors After Court Ruling
• Craig Wright Challenges Court Order Criticizing His Evidence in $4B Kleiman Case || Bitfury Latest to Donate Crypto Mining Power to Coronavirus Research: Blockchain tech firm Bitfury has donated some of its GPU-based computing power towards coronavirus research.
The Amsterdam-based firm said Tuesday it haddedicated its GPU computer nodesto the “Folding@home” coronavirus research project. Run by Washington University, the project has been asking for computer processing power to run simulations for coronavirus protein structure that could ultimately help develop a vaccine.
“Our contribution of highly efficient computing power pales next to the selflessness and sacrifice of our medical caregivers and essential staff on the front lines of this virus, but I am confident that this project from Folding at Home, alongside the work of many researchers and doctors, will significantly advance our understanding and treatment of this disease,” said Bitfury CEO Valery Vavilov, in a statement.
Related:Crypto Wants Stronger Public Response to Coronavirus, CoinDesk Survey Shows
See also:Bitfury Invests in Shyft Network to Build Decentralized Identity Products
The company joins its rival GPU mining operator CoreWeave, which announced on March 19 that it haddedicated some 6,000 GPUsto the Folding at Home project.
Bitfury’s stock of ASIC rigs – a far more powerful form of mining computer – will continue mining the Bitcoin blockchain. While GPUs are versatile, ASICs are highly specialized and cannot easily be shifted to other projects.
Bitfury said its GPUs had performed more than 1,300 calculations for Folding@home since they started work on March 20. The company says that it plans to “scale-up its contribution significantly over time.”
• How Coronavirus Is Accelerating the End of Globalism, Feat. Peter Zeihan
• Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis
• Crypto-Powered Internet Helps Rural Residents Work From Home During Coronavirus || Microsoft, Celo Back Virtual Earth Day Event From Blockchain for Social Impact Coalition: Microsoft is throwing its weight behind the Blockchain for Social Impact Coalition (BSIC) incubator, a six-week hackathon focused on green energy and sustainable cities.
The winners of the not-for-profitBSICincubator program, originally spun out of Ethereum studio ConsenSys, will be announced at theGlobal Virtual Earth Dayon April 22, with about $30,000 in prize money to be divvied out.
In addition to Microsoft, sponsors include Celo, Pepo, the Graph, the city of Austin, Texas, ConsenSys, DappHero, Gitcoin, KPMG and the United Nations Development Program.
Related:Microsoft Files Patent Application for Crypto Mining System Powered by Human Activity
Read more:Can Bitcoin Survive the Climate Change Revolution?
The blockchain incubator attracted some 300 entrants, later whittled down to about 30 teams, and has been cooking away for the last month. Teams were given four areas to address: mitigating the world’s carbon footprint, peace and prosperity, designing sustainable cities and abating pollution and plastics.
Yorke Rhodes, the co-founder of Microsoft’s blockchain unit and a BSIC board member, said the incubator, which is in its fourth year, includes teams working on identity projects, affordable housing, incentives to clean up pollution and tracking carbon credits using tokenization.
“It’s run like a typical incubator where we have weekly deliverables for all of the teams. We also have subject-matter experts in these categories from around the world that we invited in to do seminars twice a week,” said Rhodes.
Related:Can Bitcoin Survive the Climate Change Revolution?
Read more:Yale Researchers Turn to Hyperledger to Track Carbon Emissions
Out of the mentors, Rhodes mentioned Brazil’s Itaú Unibanco, which has further projects planned with Microsoft in the energy and sustainability space, he said.
Steven Haft, head of global partnerships at ConsenSys and a member of the original group of student activists who established the inaugural Earth Day in 1970, talked up Ethereum fork Celo.
“Celo has been particularly active in the environmental and social governance space,” said Haft. The startup has found a way to build funding for anti-deforestation or other climate-friendly causes into its proof-of-stake blockchain system, he said.
Read more:Plastics Recycling Looks Promising to Enterprise Blockchain Startups
Earth Day, which comprises events in more than 193 countries, would normally see crowds of people take to the streets in celebration. However, this year’s event will be virtual thanks to the coronavirus outbreak.
“We made the decision to pivot our Earth Day 2020 event from an in-person event for people in New York City, to one that is 100 percent digital this year and available worldwide,” said ConsenSys Executive Director Vanessa Grellet, who’s also the president of the BSIC board.
• Plastics Recycling Looks Promising to Enterprise Blockchain Startups
• Everledger Looks Beyond Blood Diamonds With ESG Supply Chain Collaboration || How I Learned to Stop Worrying and Love the Money Printer: Related: Bitcoin Can’t Be a Safe Haven and 100x Leverage Is the Reason Why The images of deflation are fewer and less likely to strike fear into our hearts, but they should. Related Stories Facebook’s ‘Scaled Back’ Libra Proposal Is More Dangerous Than You Think Why MakerDAO Should Consider Negative Interest Rates for Dai || SHAREHOLDER ALERT: TVTY MGPI CAN: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines: NEW YORK, NY / ACCESSWIRE / March 25, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you. Tivity Health, Inc. ( TVTY ) If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/tivity-health-inc-loss-submission-form?prid=5808&wire=1 Lead Plaintiff Deadline: April 27, 2020 Class Period: March 8, 2019 to February 19, 2020 Allegations against TVTY include that: (i) following the Nutrisystem Acquisition, Tivity's Nutrition segment faced significant operational challenges; (ii) the foregoing would foreseeably have a significant impact on Tivity's revenues; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times. MGP Ingredients, Inc. ( MGPI ) If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/mgp-ingredients-inc-loss-submission-form?prid=5808&wire=1 Lead Plaintiff Deadline: April 28, 2020 Class Period: February 27, 2019 to February 25, 2020 Allegations against MGPI include that: (a) MGP had not completed any significant sales of its four-year-old aged whiskey inventory; (b) the Company had been unable to sell its aged whiskey at the price premium represented to investors; (c) a glut of aged whiskey inventory and shifts in consumer behavior had lowered the value of the Company's aged whiskey inventory and materially impaired its ability to negotiate significant sales on favorable contract terms; and (d) in light of the foregoing, the Company's FY19 financial forecast lacked a reasonable basis and was materially misleading. Canaan Inc. ( CAN ) If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/canaan-inc-loss-submission-form?prid=5808&wire=1 Lead Plaintiff Deadline: May 4, 2020 Class Period: 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. Story continues Allegations against CAN include 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. To learn more contact Vincent Wong, Esq. either via email [email protected] or by telephone at 212.425.1140. Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: [email protected] SOURCE: The Law Offices of Vincent Wong View source version on accesswire.com: https://www.accesswire.com/582578/SHAREHOLDER-ALERT-TVTY-MGPI-CAN-The-Law-Offices-of-Vincent-Wong-Reminds-Investors-of-Important-Class-Action-Deadlines || Cardano Dips Below 0.029534 Level, Down 0.91%: Investing.com - Cardano fell bellow the $0.029534 level on Wednesday. Cardano was trading at 0.029534 by 13:16 (17:16 GMT) on the Investing.com Index, down 0.91% on the day. It was the largest one-day percentage loss since March 24.
The move downwards pushed Cardano's market cap down to $765.70804M, or 0.00% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.
Cardano had traded in a range of $0.028804 to $0.030397 in the previous twenty-four hours.
Over the past seven days, Cardano has seen a rise in value, as it gained 17.79%. The volume of Cardano traded in the twenty-four hours to time of writing was $83.96112M or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $0.0258 to $0.0338 in the past 7 days.
At its current price, Cardano is still down 97.81% from its all-time high of $1.35 set on January 4, 2018.
Bitcoin was last at $6,673.4 on the Investing.com Index, up 0.97% on the day.
Ethereum was trading at $136.26 on the Investing.com Index, a gain of 0.06%.
Bitcoin's market cap was last at $121.96747B or 0.00% of the total cryptocurrency market cap, while Ethereum's market cap totaled $15.05229B or 0.00% of the total cryptocurrency market value.
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Bitcoin Dips Below 6,666.5 Level, Down 0.87% || Price Gap Between Sellers and Buyers Yawned During Bitcoin’s March Sell-Off, Study Finds: As cryptocurrency markets crashed in March, bid-ask spreads on major exchanges widened dramatically, according to a report by over-the-counter (OTC) market maker B2C2.
The bid-ask spread is a classic indicator of market liquidity. It measures the gap between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept. The higher the spread, the harder it is to get a trade done, although those who manage to buy low and sell high make fatter profits.
The extreme dry spell in liquidity started on March 12, when prices plummeted across the crypto and traditional asset markets. The next day,bitcoin(BTC)dropped below $4,000, a 12-month low.
Related:First Mover: A Sneak Preview of Bitcoin’s Halving — in Real Time
The bid-ask spread is measured in basis points, or hundredths of a percentage point, and is usually a single-digit number. But during the tumultuous March 12-13 period, the spread for an order to buy or sell 25 bitcoin swelled to anywhere from 200 to more than 700 basis points on three exchanges,according to B2C2.
See also:Up 3%: Bitcoin Leaves S&P 500 Behind in Year-to-Date Recovery
It did not identify any of the platforms but said they have high volumes and cater to institutions. Since March, tradershave been finding more arbitrage opportunitieswith heightened bid-ask spreads on exchanges like Bitfinex.
At one venue observed by B2C2, the spread ballooned to 10 percent, jumping out of the range of the provided chart.
Related:Today’s ‘Halving’ May Be Non-Event for Bitcoin Cash Prices
To be sure, B2C2 has an angle here; it says in the report it was able to beat those exchange spreads 75 percent of the time.
It should also be noted that 25 BTC during this time was worth $100,000 to $200,000. Cryptocurrency exchanges, even the major ones, have thinly traded order books, which can always cause spreads to jump in volatile times.
“It’s still a tiny space with low liquidity,” noted Henrik Kugelberg, a Sweden-based OTC trader.
See also:Ether Rises to 28-Day High Amid Positive Sentiment for Coming ‘Eth 2.0’ Upgrade
Platforms like B2C2 combine various order books into one. Because of this, B2C2 would usually have a lower spread as traders flock to them for larger trades above five BTC compared to many exchanges where order books have lower liquidity.
B2C2 uses 100 BTC as another benchmark order size later in its report, and the spreads across exchanges for the March 12-13 period are even higher.
Because of overall low liquidity in crypto, B2C2 does provide traders with a needed service, connecting electronically into various exchanges and other liquidity providers.
“Trading with a professional electronic OTC desk comes with effective liquidity aggregation on a single connection and without the need to maintain balances on multiple exchanges,” noted Chris Dick, the B2C2 trader who authored the report.
• Bitcoin Tracks Stocks Up to $7.4K Before Sliding Back to $7.1K
• First Mover: Bitcoin’s Back in the Black for 2020
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-09-13]
BTC Price: 609.24, BTC RSI: 56.04
Gold Price: 1319.00, Gold RSI: 44.62
Oil Price: 44.90, Oil RSI: 47.63
[Random Sample of News (last 60 days)]
Exchanges Propose New Unified Trading Rules: The country’s three major exchanges announced today they have agreed to work together for new common trading procedures when reopening after a trading halt. Bats Global Markets, owner of ETF.com, the New York Stock Exchange and Nasdaq said they will be filing a new set of exchange rules with the SEC that propose to unify how all three resume trading when a halt occurs with ETFs and stocks. This comes nearly a year after more than 1,000 ETFs and stocks were halted on Aug. 24, 2015, causing dozens of ETFs to be traded well below fair value . Currently the exchanges do not have the same procedures to resume trading after such a halt, which fueled the market swings and price dislocation on that day. Beyond the unified reopening procedures, the exchanges also propose to eliminate the time periods where securities could trade without the limit up/limit down (circuit breaker) bands in place, reduce the number of trading pauses, and remove the “Clearly Erroneous Execution” rules when the limit up/limit down bands are in place. Getting Ahead Of Regulators “Last year’s flash crash wasn’t necessarily ‘ caused’ by chaos between the exchanges, but it certainly was exacerbated by it,” said Dave Nadig, director of exchange-traded funds at FactSet and ETF trading expert. “It’s to the exchanges’ credit that in many ways they’re getting ahead of the regulators and trying to coordinate their disparate rule sets to minimize the chances of the same thing happening again. The work they’re doing about initial opening, limit up/limit down triggering and reopening is exactly what needs to happen.” Nadig added that while the details are just coming out, the proactive nature of the exchanges in making these proposals is admirable. “The devil can sometimes be in the details, so we’ll see the final suggestions in a few weeks, but overall, I’m enormously impressed at the way these competitors have pulled together to improve the system,” he added. Industry Call To Action In March In March, leaders of the ETF industry joined a group in writing a letter to the SEC ( Why This ‘Open Letter’ To SEC Matters ) petitioning for overhauls to the market microstructure to prevent further flash crashes in ETFs and stocks. Story continues At the heart of the matter on Aug. 24, 2015 were the inconsistencies between how different exchanges handled big swings in securities (the limit up/limit down circuit breakers) and how securities were reopened after those breakers were hit. The problem spoke to the fragmentation of exchanges and the difference in how each exchange resumed trading, resulting in price discovery problems. Today’s announcement aims to address those problems. Drew Voros can be reached at [email protected] . Recommended Stories Behind The Wait For The Winklevoss Bitcoin ETF The ETF As A Political Weapon Aug. 24, 2015 Flash Crash Part Of Wall St. History What The New Real Estate Sector Means For ETFs ETF Asset Growth In 2016 Par For The Course Permalink | © Copyright 2016 ETF.com. All rights reserved || REUTERS AMERICA NEWS PLAN FOR WEDNESDAY AUGUST 3: REUTERS AMERICA AFTERNOON NEWS PLAN FOR WEDNESDAY AUGUST 3
LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET)
Top stories as of 2:30 p.m. on Wednesday.
For latest stories search by Slug or Headline Keyword in your CMS or Advanced Search in Media Express.
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TOP STORIES
Trump's refusal to back House speaker angers Republican Party chief
WASHINGTON - Donald Trump's White House campaign was in turmoil on Wednesday after he angered senior Republican Party leaders with his criticism of a dead soldier's family and his refusal to back the re-election campaign of House of Representatives Speaker Paul Ryan. (USA-ELECTION/ (UPDATE 4, PIX, TV, GRAPHIC), moved, by Doina Chiacu and Steve Holland, 884 words)
Muslim families of fallen U.S. soldiers driven to oppose Trump
NEW YORK - Nazar Naqvi has faithfully voted Republican for more than three decades. After Donald Trump's feud with Muslim parents who lost a son in battle for the United States, he has vowed not a single Republican will get his vote. (USA-ELECTION/GOLDSTAR-MUSLIM (PIX), moved at 10 a.m., 695 words)
Turkey sees swift overhaul of intelligence agency, gendarmerie after coup
ISTANBUL - Turkey will soon complete an overhaul of its intelligence agency and make new appointments to its gendarmerie as it tries to rid its security apparatus of the followers of a U.S.-based cleric blamed for an attempted coup, officials said on Wednesday. (TURKEY-SECURITY/SCIENCE (UPDATE 3), moved, 748 words). See also: TURKEY-SECURITY/APP, moved, 779 words
Florida to begin aerial spraying of insecticides to control Zika
CHICAGO Florida will conduct an aerial insecticide spraying campaign at dawn on Wednesday in an effort to kill mosquitoes carrying the Zika virus, officials in Miami-Dade County said. (HEALTH-ZIKA/INSECTICIDE, moved at 9:50 a.m., by Julie Steenhuysen, 394 words) See also: HEALTH-ZIKA/OXITEC, moved at 11:11 a.m., by Kate Kelland, 346 words
Washington D.C. police officer charged with helping Islamic State
WASHINGTON - A Metro transit police officer in Washington, D.C. was arrested on Wednesday morning on charges he attempted to provide material support to Islamic State, according to the U.S. Justice Department. (USA-JUSTICE/OFFICER (UPDATE 2), moved at 1:08 p.m., by Julia Harte, 218 words)
Brazil to deploy military to tourist sites, stadium security lax
RIO DE JANEIRO - Brazil says it is deploying the military to patrol emblematic tourist sites in Rio de Janeiro to guard against the "minimal" chance of an attack, though security at the Olympic stadium appeared slack three days before the Games. (OLYMPICS-RIO/SECURITY-STADIUM (PIX), moved, by Pedro Fonseca and Rodrigo Viga Gaier, 454 words). See also: OLYMPICS-RIO/POLICE, moved, 293 words; OLYMPICS-RIO/COUNTERFEITS (PIX, TV), moved, by Paulo Prada, 747 words and OLYMPICS-POPE/ (PIX, TV), moved, 250 words
CAMPAIGN
Tea Party Republican Huelskamp loses re-election bid for U.S. House
WASHINGTON - Representative Tim Huelskamp of Kansas, a Tea Party favorite who often feuded with Republican leaders in the U.S. House, lost his bid for re-election in the party's primary contest, unofficial state results showed on Wednesday. (USA-ELECTION/KANSAS (UPDATE 1), moved 10:34 a.m., 306 words)
Clinton campaign studying alternative to U.S. ethanol mandate
WASHINGTON/SAN FRANCISCO - Democratic U.S. presidential candidate Hillary Clinton's campaign has solicited advice from California regulators on how to revamp a federal regulation requiring biofuels like corn-based ethanol be blended into the nation's gasoline supply, according to campaign and state officials. (USA-ELECTION/CLINTON-ETHANOL (PIX, GRAPHIC), moved at 10:23 a.m., by Valerie Volcovici and Rory Carroll, 681 words)
WASHINGTON
Fed's Evans says one rate hike may be 'appropriate' this year
Chicago Federal Reserve Bank President Charles Evans on Wednesday offered a lukewarm endorsement of an interest rate increase later this year, despite his worry that inflation is still undershooting the U.S. central bank's 2 percent target. (USA-FED/EVANS (INTERVIEW, PIX), moved at 1 p.m., by Ann Saphir, 430 words)
OTHER U.S. NEWS
Gunman in deadly Austin, Texas shooting arrested in Atlanta
AUSTIN - A man suspected of killing one person and wounding four others when he fired shots from a handgun into a crowd on the streets of a nightclub area of Austin early Sunday was arrested without incident in Atlanta on Wednesday, the U.S. Marshals Service said. (TEXAS-SHOOTING/, moved at 1:12 p.m., by Jon Herskovitz, 216 words)
Pokemon no-go: New Jersey resident sues over trespassing players
NEW YORK - A New Jersey man has a message for the millions of players obsessed with the mobile game Pokemon Go: "Get off my lawn!" (NINTENDO-POKEMON/LAWSUIT, moved, 300 words)
Ex-NFL player Rucker gets nearly 2 years for embezzling from charities
CLEVELAND - Former National Football League wide receiver Reggie Rucker was sentenced on Wednesday to nearly two years in prison for embezzling more than $110,000 from anti-violence charities for personal use and to pay gambling debts. (NFL-RUCKER/, moved ta 12:24 p.m., by Kim Palmer, 355 words)
California wildfires likely to worsen as season peaks -forecaster
Drought conditions in California risk stoking new and ongoing wildfires as the season enters its peak, a forecaster said on Wednesday after several blazes already killed at least six people and charred thousands of acres so far this year. (CALIFORNIA-FIRE/, moved at 6:39 a.m. (TV, PIX), moved, 378 words)
'Massive' breach exposes hundreds of new SAT questions
BOSTON - Shortly after David Coleman took over as CEO in 2012, the College Board began redesigning its signature product, the SAT college entrance exam. The testing company also hired a consultancy to identify the risks associated with the monumental undertaking. (COLLEGE-SAT/SECURITY (SPECIAL REPORT), moved at 1:44 p.m., by Renee Dudley, 1923 words)
Famed flamingo Pinky dead in Florida after man attacks it
TAMPA - A Chilean flamingo named Pinky which was known for its dancing was euthanized at a Florida theme park after being badly injured by a man who reached into its pen and threw it to the ground, Tampa police said on Wednesday. (FLORIDA-FLAMINGO/ (PIX, TV), moved at 12:06 p.m., 205 words)
Man convicted in deadly Alabama church bombing denied parole
An 86-year-old white man convicted in the infamous 1963 Birmingham, Alabama church bombing that killed four young black girls during Sunday morning service was denied parole on Wednesday, prosecutors said. (ALABAMA-CHURCH/, 350 words, expect by 1:30 p.m.)
MIDDLE EAST
Hezbollah sees no immediate end to Syria war, partition in Iraq and Syria a possible outcome
BEIRUT - Lebanon's Hezbollah said the partition of Iraq and Syria was a possible outcome of sectarian fighting across the region and there was no prospect of any end to the war in Syria until after November's U.S. presidential election. (MIDEAST-CRISIS/SYRIA-HEZBOLLAH (INTERVIEW, PIX), moved at 12:01 p.m., by Samia Nakhoul, Laila Bassam and Suleiman Al-Khalidi, 937 words)
WORLD
North Korea missile lands near Japanese waters
SEOUL - North Korea launches a ballistic missile that lands in or near Japanese-controlled waters for the first time, the latest in a series of launches by the isolated country in defiance of U.N. Security Council resolutions. (NORTHKOREA-MISSILE/ (UPDATE 5), moved, 510 words)
Regional tensions test Japan's new defence minister on first day
TOKYO - Tomomi Inada will have precious little time to settle into her new job as Japan's defence minister, as events on her first day in the office underlined. (JAPAN-POLITICS/CABINET-DEFENCE (PIX, GRAPHIC), moved at 11:17 a.m., by Tim Kelly and Kiyoshi Takenaka, 676 words)
Recession ahead in Britain? Factories slow, business confidence tumbles
LONDON - British manufacturing shrinks at its fastest pace in more than three years in July and business confidence tumbles following the Brexit vote, according to surveys that show an increased chance of a recession ahead. (BRITAIN-EU/ECONOMY (UPDATE 1, PIX), moved, by Ana Nicolaci da Costa, 600 words)
South African vote tests ANC hold on cities, Zuma in focus
JOHANNESBURG/PRETORIA - South Africans vote in local elections that could see the ruling African National Congress (ANC) and its scandal-hit leader lose control of the capital and other key cities for the first time since the end of apartheid. (SAFRICA-ELECTION/ (UPDATE 3, PIX, TV), moved, by Nqobile Dludla, 700 words)
Fire guts Emirates jet after hard landing; one firefighter dies
DUBAI - An Emirates jetliner arriving from India caught fire after slumping onto the runway in Dubai on Wednesday, killing one firefighter in an intense blaze and bringing the world's busiest international airport to a halt for several hours. (EMIRATES-AIRPLANE/CRASH (UPDATE 6, TV, PIX), moved, by Noah Browning, 733 words)
Russian mayor who took on Kremlin party jailed before elections
MOSCOW - A Russian court sentenced a former mayor and vocal critic of President Vladimir Putin's allies to 12 1/2 years in jail on Wednesday in a graft case the liberal opposition said was trumped up to end its fledgling success in the regions. (RUSSIA-MAYOR/PRISON (PIX), moved at 11:12 a.m., by Andrew Osborn, 448 words)
Portugal's Guterres eyed ahead of 2nd poll for next U.N. chief
UNITED NATIONS - Former Portuguese Prime Minister Antonio Guterres could cement himself as the ninth United Nations Secretary-General when the Security Council holds its second secret ballot on Friday, some diplomats said. (UN-ELECTION/ (PIX, GRAPHICS), moved at 12:24 p.m., by Michelle Nichols, 590 words)
Canada launches inquiry into missing, murdered indigenous women
OTTAWA - Canada launched a national inquiry into missing and murdered indigenous women on Wednesday, a long-awaited look into the causes of decades of violence that have resulted in over a thousand murdered women. (CANADA-ABORIGINAL/, moved at 10:57 a.m., 312 words)
Venezuelan women seek sterilizations as crisis sours child-rearing
CARACAS - Venezuela's food shortages, inflation and crumbling medical sector have become such a source of anguish that growing number of young women are reluctantly opting for sterilizations rather than face hardship of pregnancy and child-rearing. (VENEZUELA-STERILIZATIONS/ (WIDER IMAGE, PIX), moved, by Alexandra Ulmer, 1130 words)
Venezuela names general accused of drug crimes by U.S. as minister
CARACAS - Venezuelan President Nicolas Maduro names a general accused of drug crimes by the United States as his new interior minister and removes from the cabinet his top economic official, who was viewed as a potential reformer. (VENEZUELA-POLITICS/ (UPDATE 2, PIX, TV), moved, by Andrew Cawthorne, 388 words)
Tropical Storm Earl strengthens as it churns toward Belize
MEXICO CITY - Tropical Storm Earl bears down on Central America's Caribbean coastline, strengthening as it was forecast to strike land as a hurricane, the National Hurricane Center (NHC) says. (STORM-EARL/ (UPDATE 2), moved, 251 words)
Bitcoin exchange confirms second-biggest heist in U.S. dollar terms
HONG KONG - Nearly 120,000 bitcoin worth about US$72 million has been stolen from the exchange platform Bitfinex in Hong Kong, making it the second-biggest security breach ever of such an exchange. (BITFINEX-HACKED/HONGKONG (UPDATE 2) moved, by Clare Baldwin, 300 words)
HEALTH AND SCIENCE
For pregnant women, Zika outbreak hits home in Florida
In recent days, Karla Maguire has avoided taking her toddler son to a south Florida playground where mosquitoes may be biting. She walks the dogs less frequently and rigorously applies bug repellant when she must go outside. (HEALTH-ZIKA/WOMEN, moving shortly, by Letitia Stein and Jilian Mincer, 840 words). See also: (HEALTH-ZIKA/USA-MILITARY (UPDATE 1), moved, 128 words and HEALTH-ZIKA/FRAUD (UPDATE 2, TV, PIX), moved at 12:18 p.m., by Jessica Dye, 308 words
Memory may someday benefit from electric therapy
It may someday be possible to send weak currents of electricity through the scalp during sleep to help improve memory for motor tasks, researchers say. (HEALTH-BRAIN/STIMULATION-SLEEP, moved at 11:50 a.m., by Kathryn Doyle, 402 words)
ENTERTAINMENT AND LIFESTYLE
Harry Potter casts spell again with "Cursed Child" UK sales
LONDON - "Harry Potter and the Cursed Child," the script for a new London play telling the eighth story in the hugely popular boy-wizard series, has sold more than 680,000 print copies in the UK in three days, publisher Little, Brown said on Wednesday. (BOOKS-HARRYPOTTER/ (TV), moved at 10:20 a.m., 350 words)
Second 'Fantastic Beasts' movie coming in Nov 2018, studio says
The second movie in the Harry Potter spin-off series "Fantastic Beasts" will be released in November 2018, Hollywood movie studio Warner Bros said on Wednesday, promising "much more on the horizon" from the boy-wizard franchise. (FILM-FANTASTICBEASTS/, moved at 10:35 a.m., 252 words)
Denver Broncos to acquire naming rights to Mile High Stadium
NEW YORK/WILMINGTON - The Denver Broncos professional football team will acquire the naming rights to its Mile High Stadium from Sports Authority after the bankrupt U.S. sporting goods retailer failed to find a new sponsor for the venue, according to a Tuesday court filing. (SPORTSAUTHORITY-BANKRUPTCY/BRONCOS (UPDATE 1), moved at 12:21 p.m., by Jessica DiNapoli and Tom Hals, 367 words)
BUSINESS AND MARKETS
Gains in energy, financial stocks boost Wall Street
Wall Street was higher on Wednesday after a sharp rise in oil prices boosted energy shares, while robust jobs data helped financial stocks. (USA-STOCKS/ (UPDATE 4), will be updated till close, 397 words)See also: Stocks slip for third day, dollar recovers ground (GLOBAL-MARKETS/ (WRAPUP 6), by Saqib Iqbal Ahmed, 501 words)
U.S. private sector added 179,000 jobs in July -ADP
NEW YORK - U.S. private employers added 179,000 jobs in July, above economists' expectations, a report by payrolls processor ADP shows. (USA ECONOMY/ADP, moved, 190 words)
Humana profit plunges on higher provisions for Obamacare business
Humana Inc reports a 28 percent drop in quarterly profit after setting aside more money to cover losses in its Obamacare business, and the company says next year it will discontinue most of these plans sold on public exchanges. (HUMANA-RESULTS/ (UPDATE 2), moved, by Amruthi Penumudi, 310 words)
Time Warner takes stake in Hulu, lifts profit forecast
Time Warner Inc disclosed a 10 percent stake in video streaming site Hulu on Wednesday, setting its sights on the web TV market, and it raised its 2016 forecast on expectations of sustained growth in its traditional media business. (TIME WARNER-RESULTS/ (UPDATE 5, PIX), moved at 1:37 p.m., by Malathi Nayak and Rishika Sadam, 358 words)
TIAA in advanced talks to acquire EverBank - sources
TIAA, the 98-year-old financial services firm seeking to expand in internet banking, has been in exclusive negotiations to acquire U.S. online lender EverBank Financial Corp Inc for $2.5 billion, people familiar with the matter said. (EVERBANK-M&A/TIAADIRECT (EXCLUSIVE), moved at 10:52 a.m., by Lauren Hirsch and Olivia Oran, 379 words)
U.S. frackers surprise themselves as tweaks keep adding barrels
HOUSTON - Nimble U.S. shale oil producers continue to show an uncanny ability to squeeze more and more crude from new wells, allowing them to do more with less as they try to weather another dip in oil prices to $40 a barrel. (USA-FRACKING/, moved at 1:24 p.m., by Terry Wade and Ernest Scheyder, 576 words)
Fed penalizes Goldman Sachs for use of confidential data
NEW YORK - The U.S. Federal Reserve Board said on Wednesday it had ordered Goldman Sachs Group Inc to pay a $36.3 million civil penalty for the unauthorized use and disclosure of confidential information. (GOLDMAN SACHS-FED/ (UPDATE 1), moved at 12:12 p.m., by David Ingram, 254 words) *****************
For story queries, please contact us.general- [email protected]
For photo queries use [email protected]) ***************** || MJMI Focus on Blockchain Technology Opens Doors to Multi-Billion Dollar Global Real Estate Markets: HENDERSON, NV / ACCESSWIRE / August 16, 2016 /MarilynJean Interactive (MJMI) continues to receive positive feedback from the investment community on its focus on Blockchain technology, the distributed ledger system that underpins Bitcoin and other crypto-currencies. The Blockchain is an enormous distributed database that runs across a global network of independent computers that are not controlled by any government.
Globally recognized audit and professional services firm Deloitte recently published an analysis of the public sector applications of Blockchain technology. In their report, Deloitte identified numerous sectors where Blockchain technology could be used to address inefficiencies and provide added reliability and security. Among these were both physical and intellectual asset ownership records including vehicles, patents and real estate.
Several countries, including Sweden, have begun testing use of the Blockchain ledger and verification system for their national land title registries. In the United States residential housing market alone, roughly $6 Billion of real estate changes hands every month. The integrity of the system that records title for all of these transactions is immensely important. In many developing countries, these systems are incredibly inefficient and open to fraud. Using Blockchain technology, the entire global real estate system could conceivably be digitized and secured by an independently verified, distributed ledger.
How Blockchain Technology Could Revolutionize the Global Real Estate Market
Property transactions could be handled on a Blockchain in a similar way to how payments between parties are handled using Bitcoin. However, instead of assuming that each 'coin' is the same, it is possible to associate a unique house or piece of land with a particular 'colored coin' and exchange it between parties. The entire transaction history of the property could then be followed through the Blockchain. Using 'smart contracts', a feature of digital currencies like Ethereum, which MJMI is also focussing on, asset exchange could follow specific instructions encoded as part of the transaction to be executed automatically once agreed criteria have been met.
Using Blockchain technology could increase the efficiency of transaction processing and reduce, if not eliminate, property fraud.
Peter Janosi, MJMI's president said: "We continue to receive positive feedback regarding our focus on Blockchain technology and believe we are positioning the company well to participate in how Blockchain technology will completely alter the way billions of dollars of assets change hand every day."
About MJMI
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances, the trading of futures and options contracts as well as online gambling are on the verge of being revolutionized by the use of Bitcoin and the underlying Blockchain technology to effect transactions.
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjean.comPress Contact:[email protected]
SOURCE:MarilynJean Interactive || MarilynJean Interactive (MJMI.QB) in Negotiations for Private Placement Financing: HENDERSON, NV / ACCESSWIRE / August 5, 2016 /MarilynJean Interactive (MJMI.QB) today announced it has entered into negotiations for a private placement financing. The success of this financing would allow the company to target a much wider range of potential acquisition targets. By allowing the company to offer both cash and stock as part of its acquisition strategy, the company would have a much wider range of targets to acquire while it builds its digital currency exchange system.
With a market capitalization of over $9 Billion, Bitcoin continues to draw investment capital and talent to the industry. CNN reports that over $1 Billion has been invested in Bitcoin start-ups.
Peter Janosi, MJMI's president said: "The liquidity of our publicly traded shares as a currency for acquisitions will be significantly enhanced by the ability to offer cash as a part of a purchase package. In addition, we hope to raise sufficient funds to expand our existing operations."
About MJMI
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions.
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjean.com
Press Contact:[email protected]
SOURCE:MarilynJean Media Interactive || Leveraged Buyout Corporation Announces Intention to Commence a Tender Offer for Shares of Yasheng Group: VANCOUVER, BC / ACCESSWIRE / August 1, 2016 /Leveraged Buyout Corporation ("LBOC") announced today that it intends to commence a tender offer to the shareholders of YaSheng Group ("HERB") (OTC:HERB) to purchase up to 81,000,000 shares of HERB's Common Stock at a purchase price of $11.00 per share.
The offer will require that each shareholder deliver at least 51 of each 100 share owned.
LBOC targets to own approximately 51% of the issued and outstanding shares of HERB Common Stock.
The offer price of $11.00 per share represents an extraordinary premium over market value for 6 reasons:
1. HERB is trading at a deep discount based on its earnings, and;
2. Payment is in the form of corporate notes that will pay interest in OTCcoin (OTX) a new digital currency that rides on the rails of the Bitcoin blockchain, and;
3. The notes will mature in 10 years with annual interest payable at the rate of 1 OTX per $1 face value.
4. OTX is thinly trading on international cryptocurrency exchange C-CEX
(https://c-cex.com/?p=otx-btc)
1. Notes are to be backed by the shares tendered and held in safe keeping by HERB's transfer agent.
2. LBOC is a newly formed entity.
Important Information about the Tender Offer
LBOC has not yet commenced the tender offer referred to in this press release. This press release does not constitute an offer to buy or solicitation of an offer to sell any securities. This press release is for informational purposes only. The offer to purchase the shares of HERB Common Stock from its shareholders and the solicitation of the shares will be made only pursuant to the offer to purchase and the related letter of transmittal, which are expected to be mailed to HERB shareholders shortly after commencement of the tender offer subject to the rules and regulations of the Securities and Exchange Commission.
About LBOC:
LBOC is a subsidiary of a holding company whose principal holdings include digital currency and related assets. LBOC was formed to capitalize on companies whose market cap is deeply discounted in the markets from the tangible values. As its name reveals it seeks to buy out controlling interests on leverage utilizing cashless financing.
About HERB:
YaSheng Group is a U.S. holding company and conducts business operations in China. The Company, through its subsidiaries, operates in agriculture, livestock, and biotechnology. YaSheng specializes in developing, processing, marketing, and distributing a variety of food products grown in North West China.
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The forward looking statements in this press release are also 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, and involve substantial risks and uncertainties. These risks and uncertainties include, but are not limited to, those relating to the contemplated tender offer described in this press release, including uncertainty about the timing of the tender offer, that, if the tender offer is commenced, the conditions to closing the tender offer may not be satisfied, uncertainties as to the amount of shares that will be tendered in the tender offer and LBOC's ownership interest in YASHENG Group following the tender offer, risks relating to the continued listing of YASHENG Group's Common Stock on the OTC Markets Stock Exchange and the continued status of YASHENG Group as an SEC reporting company, and the risk that the expected benefits to LBOC from the tender offer may not be realized or maintained. LBOC cautions that the foregoing factors are not exclusive.
CONTACT :[email protected]
SOURCE:Leveraged Buyout Corporation || Tim Cook's five-year run as Apple's CEO: Wall Street is in a wait-and-see mode. Stocks ( ^DJI , ^GSPC , ^IXIC ) were mostly lower in early trading as investors remain cautious ahead of Fed Chair Janet Yellen’s speech later this week. Pfizer ( PFE ) shares remain in the spotlight. The US drug maker that bought cancer drug firm Medivation ( MDVN) just a couple of days ago is now buying part of AstraZeneca’s ( AZN ) antibiotics business. The deal could be valued at more than $1.5 billion. FitBit ( FIT ) shares got a healthy pop ahead of the open after a US trade judge ruled late Tuesday that the maker of wearable fitness trackers did not steal trade secrets from rival Jawbone. However, a final decision on the verdict will happen by the end of the year. Express ( EXPR ) shares fell to a 52-week low in early trading. The retailer cut its earnings outlook for the year after delivering a miss on both its top and bottom lines for its fiscal second quarter. Revenue fell nearly 6% from a year ago as sales in existing stores came in much weaker than analysts expected. The company said the results reflected challenging store traffic. Intuit ( INTU ) shares fell in early trading. The maker of TurboTax software provided a weak outlook for its current quarter, even though earnings and revenue for its fiscal fourth quarter came in above expectations. Tesla’s better batteries Tesla ( TSLA ) unveiled improved batteries that will extend the range of its vehicles. Tesla’s Model S Sedan will now go 315 miles on a single charge, up from about 200. The car — with a speed option called “Ludicrous mode” — will go from zero to 60 miles an hour in just 2.5 seconds. Tesla boss Elon Musk claims that makes it the fastest car in the world. Banks bet on blockchain Four big banks are reportedly teaming up to develop a system to use digital currency to clear and settle financial transactions. The system will use the same so-called blockchain technology behind Bitcoin. The banks are Switzerland’s UBS ( UBS ), Deutsche Bank ( DB ), Santander ( SAN ) and BNY Mellon ( BK ). Blockchain technology can make payments faster, cheaper and easier to audit. Tim Cook’s anniversary On this date in 2011 Cook took over as Apple’s ( AAPL ) CE0 from the gravely sick Steve Jobs. While Apple is still the largest company by market value, many worry the company’s best days are in the rear view mirror. Since Cook took, over Apple’s stock has doubled. || MJMI Moves Toward Blockchain Based Securities Offering System: HENDERSON, NV / ACCESSWIRE / August 10, 2016 / MarilynJean Media Interactive ( MJMI) is excited to announce it has begun taking steps toward the use of a system recently approved by the SEC to issue shares via the Bitcoin Blockchain. The United States Securities and Exchange Commission (SEC) recently approved a plan by online retail giant Overstock.com to issue company stock via the internet. This signals a massive shift in the way financial securities will be distributed and traded in years to come. The SEC approved Overstock's Form S-3 heralding the beginning of the use of the Blockchain to distribute and track ownership of shares. The Blockchain is an enormous distributed database that runs across a global network of independent computers that are not controlled by any government. With Bitcoin, this ledger tracks the exchange of digital currency. The Blockchain can also track and independently verify the transfer of other forms of equity, including stocks, bonds and other securities. This technology has the potential to completely change the way equity markets function. It can literally replace the function of a stock exchange. MJMI intends to leverage its Bitcoin exchange expertise and use of the Blockchain to potentially conduct a securities offering via the Internet. If approved, the company could conceivably issue shares on behalf of third parties who had also obtained SEC approval. Peter Janosi, MJMI's president said: "We are excited to further expand our operations into Blockchain technology and its myriad uses, specifically within the financial sector. This technology could do for capital markets what the Internet did for consumers." About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Story continues MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances, the trading of futures and options contracts as well as online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: [email protected] SOURCE: MarilynJean Media Interactive || Trouble in aisle 9: Traders look for opportunity in the grocers: The "Fast Money" traders debated whether there may be opportunities in the grocers after Sprouts Farmers Market(SFM)issued disappointing guidance, dragging down other names in the space.
Sprouts said in a statement that industry-wide promotions have negatively affected retail deflation and traffic generation, amid a "prolonged deflationary environment" and "competitive landscape."
The stock fell more than 13 percent on Wednesday. Shares of Kroger(KR)and Whole Foods Market(WFM)fell about 4 percent and 5 percent, respectively.
Sprouts said it now expects third-quarter sales growth to be roughly flat. Wall Street had previously expected Sprouts to grow sales by about 2.2 percent during the quarter, according to a FactSet consensus estimate.
Trader Brian Kelly said he isn't interested in the grocers and would rather own something like sugar. He pointed to the Barclays Bank iPath Bloomberg Sugar Subindex Total Return(NYSE Arca: SGG), which has surged more than 33 percent this year.
Even though the whole industry felt the pressure on Wednesday, trader Pete Najarian said that companies like Target(TGT), Wal-Mart(WMT)and Kroger can better compete in the long run.
Trader Steve Grasso said that he is more interested in the producers like Tyson Foods(TSN)than the grocers.
Trader Guy Adami said he actually likes Whole Foods because of the risk and reward. He said that while this is "a challenged story at best," the stock closed at $29.08 on Wednesday, about a dollar above its 52-week low of $28.07.
Disclosures:
PETE NAJARIAN
Long stock: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, TGT, VIAB and long calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, DAL, DISH, DVN, EGO, ETP, FB, FSLR, FXI, GLD, HALO, KGC, KO, LLY, M, MS, MT, MU, NEM, SBUX, SLV, TGT, TMUS, TWTR, TTS, UA, VRX, XLE Puts: CLF, MBLY, MRO, TSLA, EEM
STEVE GRASSO
Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MON, MU, NKE, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. No shorts. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR FP
BRIAN KELLY
Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short the euro and Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Exclusive: LexisNexis and start-up join to curb bitcoin money-laundering: By Jemima Kelly LONDON (Reuters) - A company that provides banks with anti-money-laundering controls has teamed up with a bitcoin security firm to try to curb nefarious uses of the digital currency, such as drug trafficking and terrorism financing. LexisNexis said the new service it has created with London-based startup Elliptic would bring bank-grade AML controls to bitcoin transactions, making the virtual currency more attractive to those who might want to use it for legitimate transactions LexisNexis, part of multinational analytics firm RELX Group (REL.L), helps banks comply with AML regulation, using a database of 2.7 million global entities that could be involved in illicit transactions, such as those on sanctions and other watch-lists. It has shared that database with Elliptic, which monitors bitcoin transactions and can alert its clients - ranging from bitcoin exchanges to U.S. and European intelligence agencies - when money moves from bitcoin addresses that have been identified as bad actors. "This is a step towards making it (bitcoin) more mainstream and more acceptable," said Thomas Brown, of LexisNexis Risk Solutions. Bitcoin is a web-based digital currency that relies on complex algorithms to move money around quickly and anonymously with no need for a central authority to process transactions. That has made it attractive to a variety of users, including those who want to get around capital controls and those who support a currency that is free from government control for ideological reasons. But it has also attracted criminals, such as drug dealers and arms traffickers. "Today, if you see bitcoins transacting, you almost assume they're from someone who wants to be off the grid, or they're proceeds from illicit transactions," said Brown. Last month Elliptic said it was working with the Internet Watch Foundation to clamp down on the use of bitcoin for online child pornography. "The single biggest thing keeping mainstream financial services out of the (bitcoin) ecosystem is the inability to do bank-grade anti-money laundering controls," said Elliptic's head of business development, Kevin Beardsley. "The hope is that this will unlock a whole wave of companies being able to enter financial services with bitcoin." (Editing by Robin Pomeroy) || High Prices And Expensive Gifts offered by PowerBTC to Bitcoin Sellers: NEW YORK, NY / ACCESSWIRE / August 7, 2016 / With the rise in popularity of Bitcoin commerce, many online firms are finding creative new ways to take advantage of this valuable virtual resource. However, none are more market-savvy than PowerBTC, an up-and-coming financial world star that is taking e-commerce by storm. PowerBTC LLC ( http://www.PowerBTC.com ), an already well known cryptocurrency trader on the virtual market, has its on-going offer of higher-than-the-market-price premiums on Bitcoin purchase. Their offer is time-limited but comes along with a bunch of benefits for 10+ or larger transactions. While their standard approach of Bitcoin sellers remains a bonus of 10% more than the market's official rate, the company has added few more additional premiums and gifts for volume business. While having listed all of them below, customers can be assisted and given additional information at any time. POWERBTC CURRENT PROMOTIONAL OFFERS: 10+ BTC (24-karat gold coin); 20+ BTC (24-karat gold coin +3 %); 30+ BTC (24-karat gold coin +5 %); 50+ BTC (24-karat gold coin +8 %) 24-karat gold coin worth of 450 USD based on the gold market price. Tom Clark, the CEO of PowerBTC, commented: "We are happy that with this promotional offer we will be able to help the Bitcoin community. By riding on this next wave of digital technology, we hope to become a major leader of the Bitcoin community, and offer exceptional deals for all Bitcoin purchases. It's about staying in-step with the times, and we know that Bitcoin is a wise investment and are confident that it can take us to the top." A visit to http://www.PowerBTC.com reveals a cleanly-designed website that is easy to use, making Bitcoin transactions quick and easy. Users only need to enter their email address, and bank or PayPal information and they will be ready to take advantage of this new promotional offer. While the offer may appear to be a bit chaotic for the regular seller, the mechanism behind it is based not only on the company's appetite for Bitcoin purchase, but also on the outcome of the Bitcoin PowerBTC is reinvesting, together with a sophisticated calculus and certain principles common within any financial services business. Story continues Rates are updated constantly, following current market trends, for the most accurate information. Combined with knowledgeable staff and a regularly updated news page, this gives PowerBTC the edge over competitors in the field by offering a depth of market knowledge that is unrivaled. PowerBTC is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit, http://www.PowerBTC.com . SOURCE: PowerBTC LLC
[Random Sample of Social Media Buzz (last 60 days)]
1 #BTC (#Bitcoin) quotes:
$655.00/$655.73 #Bitstamp
$648.14/$649.84 #BTCe
⇢$-7.59/$-5.16
$655.75/$656.00 #Coinbase
⇢$0.02/$1.00 || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $140.84 #bitcoin #btc || Send 1.0 - 4.9 BTC today, get 20.00 - 98.00 BTC in 20 hours,Btc invest stock trade. http://ow.ly/OrKw3045MER || Do you have a cool #BTC project looking 4 financing ? Email [email protected] - #Bitcoin , #fintechpic.twitter.com/jwi58Xoug5 || 1 #bitcoin = $10691.00 MXN | $574.35 USD #BitAPeso 1 USD = 18.61MXN http://www.bitapeso.com || #EuroCoin #EUC $ 0.000191 (0.35 %) 0.00000033 BTC (-0.00 %) || #SativaCoin #STV $ 0.004150 (0.46 %) 0.00000623 BTC (0.00 %) || #BTA Price: Bittrex 0.00001500 BTC YoBit 0.00001341 BTC Bleutrade 0.00001402 BTC #BTAprice 2016-08-06 02:00 pic.twitter.com/7jmw6UbR5D || 1 KOBO = 0.00000991 BTC
= 0.0056 USD
= 1.7864 NGN
= 0.0764 ZAR
= 0.5673 KES
#Kobocoin 2016-08-06 16:00 pic.twitter.com/M5XrYNqLeO || $623.30 at 12:15 UTC [24h Range: $618.67 - $625.00 Volume: 2281 BTC]
|
Trend: down || Prices: 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-08-25]
BTC Price: 21600.90, BTC RSI: 41.04
Gold Price: 1757.70, Gold RSI: 48.33
Oil Price: 92.52, Oil RSI: 47.56
[Random Sample of News (last 60 days)]
6 Best Ethereum Casinos in 2022: Ethereum Casinos New York, New York --News Direct-- Crypto Thinkers Today, the gaming industry is trying to adapt as much as possible to the needs of the online gambling community. One of the manifestations of such concern for customers was the possibility of using cryptocurrencies for the game in casinos. This allows you to carry out transactions faster and without commissions. For this reason, finding an Ethereum casino with a poker room or a site to play roulette games using ETH is now easier than ever before. Using cryptocurrencies is a kind of alternative to contracts, which stipulate when and under what conditions the transfer of accumulated funds is carried out. Players get more freedom and the effect of presence in the casino itself increases, because credits occur instantly, without waiting for confirmations from banks at certain hours. Ethereum transactions are fast, so you can buy Ethereum for fiat currency in a matter of seconds. In this article, we will look at the top Ethereum casinos where you can play using ETH cryptocurrency. We will review reputable sites with the best Ethereum casino bonuses, voice the pros and cons of each casino site and talk about the feasibility of betting using cryptocurrency in general and Ethereum in particular. Without further ado, let's jump to our casino reviews! Best Ethereum Casinos for ETH Casino Games & Bonuses BitStarz Best Ethereum Online Casino Overall The BitStarz online gambling site has been operating since 2013, and its main feature is betting using a variety of cryptocurrencies. The casino is pleasantly surprised with the absence of advertising and laconic classic design without distracting details. Thus, the player can fully concentrate on the process. The casino operates on a license issued by Curacao. Game providers include Belatra, BoomingGaming, CT Interactive, Evolution Gaming, and many more. BitStarz Pros Multilingual interface (English and Russian, as well as Japanese and Chinese); High speed of payment processing; Thoughtful system of bonuses and rewards for all players; Quick registration in convenient ways; A large number of cryptocurrencies in addition to Ethereum (Bitcoin, Litecoin, Dogecoin, Bitcoin Cash, and so on). Story continues BitStarz Cons No phone support, only online-chat form; The casino does not have an application to download; Banned in a number of countries (Curaçao, Dutch West Indies, France, Israel, Lithuania, and so on). Offers from BitStarz for new customers: One bonus per IP address, account number or phone number; For 20 welcome spins without a deposit, you can withdraw a maximum of $100; 7 days to use the bonus; When the bonus expires, all winnings and the remaining amount in the account are lost; The accrual of bonuses without deposits occurs after the confirmation of the account by email; When depositing an amount of 20 dollars or more, you can get an additional 180 free spins. BitStarz Casino was developed by former players and this gives it a competitive edge. There is a variety of slot machines from the best manufacturers for every taste, from slots to poker. BitStarz casino has a good reputation, there are no reports of withdrawal problems. The average payment processing time is 10 minutes. In BitStarz, withdrawing money to bank cards takes up to 3 days. 7BitCasino Best ETH Slots 7Bit is rightfully considered one of the best ETH casinos. Being one of the pioneers among crypto casinos, 7Bit managed to acquire a huge audience and significantly expand its list of games for every taste. The casino has an affiliate program called 7Bit Partners. At the same time, you can receive your accruals in any currency and cryptocurrency. 7Bit Pros Regular holding of various promotions for new and old users; Works with a large number of cryptocurrencies (Bitcoin, Litecoin, Dogecoin, Ethereum); Design fully complies with all usability rules; No negative balance; Unique VIP program for users. 7Bit Cons Restrictions on work in a number of countries; No real money wins on free spins. Offers from 7BitCasino for new customers: When making the first deposit, a first deposit bonus of up to 100 euros or 1.5 BTC is automatically credited to the account; On the second deposit, you get 50% of the payment, subject to the limit of 100 euros or 1.25 BTC; Third deposit limits will be 200 EUR or 1.25 BTC. 7Bit Casino has good ratings and feedback from users. Permanent bonuses and cooperation with trusted game providers are the keys to the success of the institution. No less attractive is the casinos landmark for cryptocurrencies, and at the same time with extensive experience in this area. Thus, security and the high speed of all transactions are achieved. As for the 7Bit Casino VIP program, it is available to all players whose level is at least 10 levels. When joining the platform, your exchange rate will be 100%, at the tenth level, this rate will already be 130%. Users can constantly level up, but you can't level down. The increase is related to spending on the platform. mBit Casino Best for ETH Game Selection mBit Casino is one of the best online casinos that has been operating since 2014 and is one of the first casinos to work with cryptocurrency. One of the factors that help it to stay at the top for so long is the constant updates of the functionality and the list of games. In addition, the casino creates a real community of players through chat rooms where players can communicate and interact. Another factor of interest in the casino is a competent promotion strategy, no intrusive advertising, but a respectful attitude towards the audience. mBit Casino Pros A wide variety of cryptocurrencies for the game (Litecoin, Bitcoin, Dogecoin, Ethereum); A long list of various games, including demo mode (about 3188 casino games); Expanded system of bonuses. mBit Casino Cons Lack of a mobile application; You can only play in cryptocurrency, there is no way to use regular currency; There are a number of countries where playing in a casino is prohibited (Netherlands, Slovakia, Portugal, Spain, etc.). Offers from mBit Casino for new customers: The player is entitled to a 110% bonus up to 1 BTC; On the second deposit, the player receives a bonus of 50% up to 2.5 BTC; You only get the right to request the first deposit if you have a minimum deposit (0.005 BTC); After activating the welcome bonus, 50 spins per day will be credited within 6 days; Bonuses on 1st and 2nd deposits must be wagered 35x, and the third - 30x; The validity period of deposit bonuses is 14 days; Minimum deposits: 0.0003 BTC, 0.001 BCH, 0.01 ETH, LTC, DOGE, and 1 USDT. In general, the casino has a fairly good reputation. Although some players have difficulties when playing. The average rating of this casino on various sites is above 80%. KatsuBet Top Ethereum Casino in Canada Canadian casino KatsuBet is a fairly new casino that has won the audience with the best formula: simplicity and variety. The company is owned by Dama N.V. who has a lot of experience in such projects, and this is noticeable in high-quality design and an excellent selection of games. KatsuBet is the best Ethereum gambling site if you're someone who loves quality gaming in a user-friendly space. The activity of the casino is regulated by the Curacao license and controlled by the international regulator Antillephone N.V. Among the game providers of this casino: 2BY2 Gaming, 4 The Player, Amatic, Bet Games, and many others. KatsuBet Pros Verified games list from licensed providers; The possibility of betting in cryptocurrencies (Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Tether); Profitable bonus system and welcome deposit bonus; Demo mode for almost all games; Customer support via live chat 24/7; A great variety of payment methods. KatsuBet Cons Some geographical restrictions due to licensing issues (e.g. USA, UK, Spain, Netherlands, France, Israel, Lithuania, Ukraine, Slovakia, etc.): Different commission requirements for different payment methods. Offers from KatsuBet for new customers: One bonus per IP address, account number or phone number; 45x deposit bonus wagering; Fulfillment of wagering requirements within 14 days from the date of registration; Depending on IP, free spins are awarded in Wolf Treasure, Platinum Lightning Deluxe or Caishen's Gifts; The summation of crypto bonuses is prohibited; There is no withdrawal limit for Ethereum deposits and bonuses; The withdrawal limit for free spins is -100 EUR/$. Despite the fact that there are only two KatsuBet, we can already talk about the promising future of the platform. The platform has no bad reviews, a high win rate and a huge selection of games (Blackjack, Live Dealer Games, Lottery, Slots, Poker, and so on). WildCasino Best New Ethereum Casino The name Wild Casino hints that an incredible game is waiting for you here. The casino is quite young but has already declared its ambitions. Here you can play using a huge number of currencies and cryptocurrencies. In addition, players at Wild Casino rely on generous bonuses designed to encourage players. What catches the eye from the first minutes is the attractiveness of the interface, which is designed with users in mind. In addition to the needs of the players, the technical side of the casino is debugged here - everything works clearly and without failures. Wild Casino Pros UX that is thought out to the smallest detail and saves the player time; A huge number of slot machines and games for every taste; Works in most countries even without using VPN; The current system of bonuses. Wild Casino Cons There is no convenient mobile application. Offers from Wild Casino for new customers: Each new player claims a welcome bonus of up to 5,000 euros, but for this, you need to make five transactions; When using the promo code "WILD100", four subsequent deposits will receive a 100% bonus of up to 1000 euros; The deposit must be wagered at least 30 times, for which players are given 30 days. Wild Casino is also popular among users because it offers an excellent selection of promotions for every taste. The people behind this casino have dealt with offline casinos and have successfully adapted this experience to the online format. We can say that Wild Casino is a great start for beginners and a good choice for experienced gamblers who are looking for quality service. The bonus system reinforces the pleasant impression of the game in the institution. The list of games here is the longest but tastefully selected for true connoisseurs. CloudBet Best for ETH Sports Betting Cloudbet is considered one of the most diverse crypto casinos and Ethereum betting sites today. In addition to Ethereum, altcoins and other types of cryptocurrencies can be used here. The casino does not work in a number of countries but does not prohibit the use of VPNs. Here you can play both with live dealers and a large number of games of various types (baccarat, poker, slots, and so on). Cloudbet Pros The ability to use up to 20 types of cryptocurrencies in the game; Most games have an RTP greater than 96.0%; Offers one of the highest bonus limits in the niche; Separate games for BTC; Site design enhances the experience and impression of the game; Live dealer games; Various incentives for players. Cloudbet Cons No mobile application for more comfort; Withdrawal of bonuses may take some time; No telephone connection with customer support. Offers from Casino CloudBet for new customers: After signing up, you will receive a welcome bonus with an offer of up to 5 BTC; To activate the bonus, you need to make a minimum deposit of 0.01 BTC; For every 800 bonus points accumulated, you will receive a bonus of 0.01 BTC for each; Players have 365 days to earn a 5 BTC bonus; To participate in casino games, you need to deposit a minimum of 10 USD (or 0.01 ETH) to qualify. Cloudbet Casino provides fast transactions, ensuring the safety of the game. Tournaments are regularly held here and players can participate in them, even if they play for a short time. At the same time, the receipt of bonus funds occurs gradually, in accordance with the earned loyalty points. This is one of the the top Ethereum casino sites for those who prefer to constantly play for money. As for the support service, an online chat request is processed within 5 minutes, and an email request is processed within 12 hours. How We Ranked the Top Best Ethereum Casino Sites Before we include an online casino in our rating, we study not only Ethereum casino reviews about it, but also all the factors that affect its work and impressions from the platform itself. In the case of casinos that use cryptocurrencies, we are especially careful, since this option is still taking root as a must-have. So, among the factors that we take into account when ranking online Ethereum casinos. License. There are a number of authorized bodies that can issue the appropriate license (for example, the Curacao Gambling Commission or Malta Gaming Authority). This ensures that the casino game is played with respect for the rights of the players. High-quality online casino games. There is a list of providers that have proven themselves well (for example, Microgaming, NetEnt, and so on). This applies not only to the winning percentage but also to the stability of the games. Payment methods. The more payment options, the more interesting the casino is for the user. And the use of Ethereum or any other cryptocurrency plays a big role here. Support service. Transparency and accessibility are key requirements for support. The user must understand that all his problems will be solved quickly and professionally. Winnings and fast payouts. Accruals on weekends, withdrawal limits, conditions and commissions for various types of currencies and cryptocurrencies - all should be taken into account. Game integrity. In addition to checking the casino's compliance with all requirements, we personally test live casino games and study statistics. This allows you to see if there are any cheats or problems with the withdrawal. Player incentives. Ethereum casino bonuses and deposits help keep the player interested, and the more of them, the more profitable it is to play. These include welcome bonuses, first deposit bonuses, and various tournaments and promotions. We regularly update the lists and explore new Ethereum casinos. This allows us to keep abreast of trends and trends, providing the most relevant and high-quality information to users. Key Benefits of an Ethereum Gambling Sites Over Traditional The Internet currency ETH has existed since 2015. Like analogues, Ethereum allows you to conduct financial transactions without taxation and any reporting to the authorities. The blockchain system and cryptographic protection were taken as the basis of the cryptocurrency. So, if Bitcoin simply offered to accumulate money that can be hidden from the state, then Ethereum is a full-fledged economic system that does not depend on countries, or political parties in a particular country. But unlike other currencies, Ethereum has several competitive advantages: The cryptocurrency is based on a decentralized and programmed platform that uses special smart contracts. All transactions take place in a unit called ETH. Due to the fact that Ether was originally created to work with smart contracts, it has high-security properties. The growth of the Ethereum rate relative to Bitcoin indicates a high demand for cryptocurrency, and greater exchange rate stability increases its attractiveness. The very appearance of Ethereum was a serious statement since this cryptocurrency from the first days was a serious competitor to bitcoin. The transparency of transactions and the speed of making payments drew the attention of the casino to this type of payment, and today a large number of gaming establishments accept bets in Ethereum. The main advantages of this cryptocurrency: Convenience and flexibility. Blockchain-based open source, speed and ease of use for the average player. Instant deposits and withdrawals make the game more fun. Also, when winnings are displayed in the same currency, there is no need to convert everything to the local national currency. Anonymity. Cryptocurrency in betting is an opportunity to keep your hobby a secret from the banks. You do not need to explain where you got the money from if you receive a big win. This is highly valued by players and is a competitive advantage. Increased security. The decentralized system that Ethereum is allows you to maintain anonymity and ensure that no one can stop/cancel your transaction or hack your wallet. Stability. Ethereum offers a reliable gambling solution with a powerful community. Cryptocurrency volatility is also minimal, unlike most competitors. Large selection of various casino games. Today, large casinos offer popular casino games using Ethereum, which means you can play a huge number of your favorite cryptocurrency games. In addition, casino bonuses and promotional offers are also available to you in cryptocurrency. Ethereum casinos usually offer players a wider selection of games and betting options, even compared to other online casino sites. This is due to their use of smart contracts, which allows developers to create more complex games. Best Ethereum Casinos Frequently Asked Questions Are Ethereum Online Casinos Trustworthy? One of the main issues that players are concerned about is the legality of casinos that accept Ethereum. If fiat casinos are allowed in your country, this payment format is legal. Unlike Bitcoin, this type of cryptocurrency is not subject to price fluctuations, so you lose less when the market fluctuates. Ethereum is an alternative betting option in gambling establishments. Due to the fact that cryptocurrencies allow all financial transactions to be carried out much faster, the popularity of their use is growing every day. Another advantage of Ethereum is increased security, thanks to the ability to track all transactions. Why Should I Bet With Cryptocurrency? Cryptocurrencies simplify the process of making bets and gradually gain equal rights on a par with regular currency. Security and full transparency of transactions increase the credibility of cryptocurrencies. In addition, there is a wide variety of cryptocurrencies. Are Ethereum casinos safe? Absolutely! Due to the specifics of blockchain technology, cryptocurrency gambling is defined as a safer casino game format. A high level of security reduces the risk of interception and theft of funds. Another aspect is the safety of player data when registering at an online casino. You can play and place real bets without being tied to your bank card, avoiding unnecessary attention. Are Casinos That Accept Ethereum legal? Casinos that accept cryptocurrencies, and Ethereum in particular, are subject to general regulations and laws governing the circulation of cryptocurrencies. If in the country of the player the cryptocurrency is recognized on a par with the usual currency, you can play in any crypto casino legally. Be sure to check the lists of countries in which the activities of such establishments are strictly prohibited. This list is located in the corresponding section on the crypto casino website. The use of VPN, in this case, can be interpreted both as a violation and as an option for the game. You can play using your crypto wallets and be within the law. Can I Get In Trouble for Betting With Ethereum? Today, ETH has the second-largest market capitalization. At the same time, the growth of this cryptocurrency exceeds Bitcoin, having smaller price fluctuations. But this property of Ethereum also has a drawback. If you have an amount in cryptocurrency in your Ethereum casino account, you can always face a price drop, and you lose some of your savings or your winnings depreciate. Another disadvantage of Ethereum is its irreversibility. So, if you send or receive the wrong address, your funds could be lost forever. For the most part, you risk nothing by choosing Ethereum, as the platform has analyzed the shortcomings of other cryptocurrencies and fixed them. Are There Any Downsides To Betting Online? Most of the negative impressions from online betting are related to the lack of personal experience of interacting with the croupier. You are also tied to the limits and timing of the withdrawal of winnings. You must also be careful when choosing the casino where you plan to play. Another aspect is legal, since in some countries there is a ban on the activities of gaming establishments, even in an online format. But if you study reviews about online casinos and follow all the rules of the institution, you have nothing to worry about. How Can I Determine the Best Ethereum Casino for Me? A positive casino experience always starts with its legality and good reviews from real players. These are one of the key factors when ranking reliable casinos. Ethereum casinos are no exception, they are evaluated in the same way as any other casinos. Other factors that affect the experience of a casino are the withdrawal limits, the type of currencies and cryptocurrencies used for betting, bonuses and promotion policies, and the choice of online Ethereum casino games. There are a large number of ratings where you can choose a reliable casino where you can bet using Ethereum in your casino account. Conclusion We always recommend that you study the ratings and Ethereum casino reviews before you start playing for real money. An Ethereum casino site is not just a place of entertainment, but the same service as many others. You must be sure that you are provided with quality services and that your data and finances are safe. Casino ratings are compiled based on the interests of the players, which is why they should be taken into account as an argument when choosing. Whatever casino on Ethereum you end up choosing, make sure that it has real reviews and a good rating. You can also try to play in demo mode to understand whether it is comfortable for you to be on this resource and interact with the interface. We also recommend that you pay attention to what type of contact with the support service you are offered. Most Ethereum gambling sites listed here have a wide variety of ways to contact their support in case any problem occurs. Remember that any game must be justified, so it is better to play in a casino that is trusted by users and where players are respected. IMPORTANT: Some sites mentioned in this article may not be available in your location. Gambling is strictly 18+ , it can be addictive. If you have a gambling addiction, please call the National Gambling Helpline Network at 1-800-522-4700 to get the help you need. Contact Details Crypto Thinkers Nathan Dunn [email protected] View source version on newsdirect.com: https://newsdirect.com/news/6-best-ethereum-casinos-in-2022-520925584 || Ride the Wave With AMTD Stock or Get Out of the Way: Not long ago, holding company AMTD IDEA Group (NYSE: AMTD ) stock rose from obscurity. AMTD Digital (NYSE: HKD ), the company’s subsidiary, was probably the target of a massive short squeeze. Traders should only consider AMTD stock if they’re prepared for high volatility. AMTD IDEA Group is a Hong Kong-headquartered company that’s also known as AMTD International. Chances are, if you’re an American stock trader, this company wasn’t on your radar until recently, if at all. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Suddenly, AMTD IDEA Group is garnering attention on Wall Street, and possibly also among the Reddit group r/WallStreetBets . It’s an interesting company even beyond the meme-stock implications. So, if you’re prepared to take on some risk, it’s a great time to conduct some due diligence on AMTD IDEA Group. AMTD AMTD IDEA Group $2.81 What’s Happening with AMTD Stock? AMTD stock has been around for at least a couple of years , and overall, it hasn’t been a spectacular performer. However, AMTD Digital rocketed higher on its first day of public trading in the U.S., July 15. The AMTD Idea Group share price rallied as well, albeit not quite as dramatically. Both stocks had another fast run-up in early August. Meme stocks were in vogue again during this time. So, it’s possible that AMTD Idea Group was targeted by social-media traders for a short squeeze. After all, AMTD stock is low-priced, which is a characteristic sign of a potential short-squeeze candidate. Plus, there wasn’t really any company-specific news to justify a share-price move from $1.60 to $12.90. Also, it’s been reported that the related HKD stock was recently “the most popular mention on Reddit’s WallStreetBets chat room.” So, again, we’re seeing the signs of a short squeeze here. AMTD IDEA Group Is an Interesting, Diversified Business If we can look past the meme-stock implications for a moment, we can see that AMTD Idea Group is actually an intriguing company. It’s been around since 2003 and touts itself as the “No. 1 independent investment banking firm in Asia.” Story continues That might be an exaggeration, but investors can at least appreciate the company’s ‘‘AMTD SpiderNet’’ approach to business-building. With this approach, AMTD Idea Group focuses on “innovative internet platforms, financial technology companies, other new economy companies, and other financial institutions.” For now at least, the holding company’s most well-known subsidiary on Wall Street is AMTD Digital. That business describes itself as a “one-stop digital solutions” platform involved in “digital financial services, digital media, content & marketing, SpiderNet ecosystem solutions, and digital investments.” Admittedly, it’s somewhat difficult to pin down specifics with AMTD IDEA Group and AMTD Digital. Still, long-term investors might anticipate decent returns over time if they’re bullish on China’s technology and financial sectors. What You Can Do Now AMTD stock is likely to remain volatile for a while. If you’re not prepared to ride it in both directions, it’s probably wise to stay out of the trade. If you’re in the mood to take a small but high-risk position, though, then there may be an intriguing trade here. AMTD IDEA Group may lack some clarify, but it seems to offer diversification for investors seeking exposure to a unique China-based business venture. 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. Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video … exposing one of the most shocking events in our country’s history… and the one move every American needs to make today . 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 Ride the Wave With AMTD Stock or Get Out of the Way appeared first on InvestorPlace . || First Mover Asia: BTC Falls Below $22.4K; Coinbase Shares Remain Alluring for Institutional Investors: Good morning. Here’s what’s happening:
Prices:Bitcoin trades sideways on Sunday but drops below $22.4K.
Insights:Crypto exchange Coinbase's shares have plunged this year, but several institutional investors have been snapping up shares.
Catch the latest episodes ofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Andsign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context.
Bitcoin (BTC):$22,318 -1%
Ether (ETH):$1,560 -0.3%
[{"Asset": "Chainlink", "Ticker": "LINK", "Returns": "+0.0%", "DACS Sector": "Computing"}]
[{"Asset": "Decentraland", "Ticker": "MANA", "Returns": "\u22127.1%", "DACS Sector": "Entertainment"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "\u22125.7%", "DACS Sector": "Entertainment"}, {"Asset": "Loopring", "Ticker": "LRC", "Returns": "\u22125.4%", "DACS Sector": "Smart Contract Platform"}]
Bitcoin Falls Below $22.4K; Other Cryptos Drop
Bitcoin traded sideways on Sunday to fall below $22,400, well off mid-week highs.
The largest cryptocurrency by market capitalization was recently trading around $22,300, down a percentage point over the previous 24 hours. Bitcoin had reached a more than one-month high on Wednesday, cracking $24,000, and was still trading comfortably over $23,000 early Friday before investors revisited their anxieties over inflation and the economy to back away from riskier assets.
Ether, the second-largest crypto by market cap, was trading at $1,560, also down slightly for the same period. Other cryptos were largely in the red, with YGG and AXS both off more than 7%. The crypto Fear & Greed Index has improved over the past two weeks, but remains in fear territory, reflecting deep concerns about conditions potentially affecting crypto.
To be sure, market observers have viewed bitcoin's recent tenacity above $22,000 positively amid an unexpectedly high consumer price index (CPI) this month, slowing economic indicators and poor earnings. But crypto markets this week also struggled to make sense of Tesla's (TSLA) decision to jettison $936 million of its bitcoin holdings, the latest pivot in company founder and crypto influencer Elon Musk's ever-changing relationship with digital assets. Bitcoin has increasingly responded to the wider environment, including stock prices, which have plummeted this year.
"BTC did see some positive price action following its resilience, post the CPI data earlier this month," wrote Joe DiPasquale, the CEO of crypto fund manager BitBull Capital, in an email to CoinDesk. "The fact that news of Tesla selling its BTC holdings did not crash the price is also a positive sign for the bulls.
FOMC meeting
Investors will now be eyeing this week's interest rate decision by the U.S. central bank's Federal Open Market Committee (FOMC). The FOMC is widely expected to approve a 75-basis point hike, robust enough to satisfy critics of Federal Reserve timidity in tackling inflation but reasonable enough to encourage those who prefer a more moderate approach that is less likely to spur a steep recession and affect assets.
"With this month's FOMC around the corner, we will be taking a conservative approach until the Fed's future direction becomes clearer," DiPasquale wrote.
Crypto declines tracked major equity indexes on Friday as the tech-heavy Nasdaq fell nearly 2% and the S&P 500, which has a heavy tech component, dropped almost a percentage point. Stocks, like cryptos though, had their best week in a while after months of losses. Gold rose slightly, although it has also steadily fallen from March highs over $2,000.
In a weekly review to investors, First Republic Bank noted weakening in the once-hot housing market, a sign that rising interest rates may finally taking a bite from demand. The National Association of Home Builders index dropped for a seventh straight month. U.S. housing starts in June were also unexpectedly weak, among other falling indicators.
Three Arrows Capital
Meanwhile, the founders of insolvent crypto hedge fund Three Arrows Capital, Su Zhu and Kyle Davies,describedthe firm's collapse as "regrettable," but denied claims they pulled money from the fund before its collapse, according to Bloomberg report. Three Arrows' implosion stemmed from the fall Terra ecosystem that has rippled through the industry since May. Investors are claiming Three Arrows still owes them $2.8 billion.
Yet in a report,banking giant Citi saidthat crypto contagion fears tied to recent events, including digital asset lending platform Celsius' failing, have peaked. Staked ether’s discount to ether (ETH) has narrowed, which suggests some liquidity stress may have passed, the report said, adding that the “acute deleveraging phase” has now ended given many of the large brokers and market makers in the sector have disclosed their exposures. In a further positive sign, stablecoin outflows have been stemmed, the bank said, and outflows from crypto exchange-traded funds (ETF) have also stabilized in recent weeks.
DiPasquale wrote that "if the Fed remains aggressive" with rate hikes, "we could easily see BTC return to $20,000 or lower." But he added optimistically that "accumulation in that range could be a promising long-term opportunity."
S&P 500: 3,961 -0.9%
DJIA: 31,899 -0.4%
Nasdaq: 11,834 -1.8%
Gold: $1,727 +0.4
Coinbase's Enduring Allure Among Institutional Investors
Coinbase’s stock is down nearly 70% on the year, outpacing the declines of bitcoin. While many funds have used the onset of the bear market to reduce their stake in the exchange, there are also many institutional investors that have used the chance to acquire shares for what they perceive as a discount.
According todata compiled by Whale Wisdom, which tracks quarterly filings of the form 13F that discloses fund managers’ new investments, Cathie Wood’s Ark Invest, exchange-traded fund issuer Exchange Traded Concepts, Cullinan Associates and Utah-based Refined Wealth Management all significantly added COIN to their portfolios as per filings dated June 30.
Ark Invest’s Wood has been along-time Coinbase bull, highlighting in May that the U.S.-based exchange had no exposure to either the terraUSD (UST) stablecoin or the luna (LUNA) token.
“Given its inherent profitability, competitive position and massive opportunities, we believe the company is right to focus on investing in its derivatives offerings, [non-fungible token] platform and international expansion,” Wood wrote in a note outlining her bullish thesis on the company.
2.6 million shares
Whale Wisdom data shows that all firms that filed a 13F by June 30 collectively bought 2.6 million shares.
The Wall Street Journal said that14 analysts it polled gave Coinbase a buy option for retail investors while nine gave it a hold, and two ranked it a sell.
The average stock target price from the polled analysts is $106.05, which would give it a $23 billion market cap.
Before the company did its initial public offering last year, its pre-IPO contracts weretrading as highas $317, which would give the exchange a valuation of over $75 billion. Its currentmarket capis just under $20 billion. Even under the most conservative appraisals, there’s room to grow.
Australia new home sales
8:30 p.m. HKT/SGT(12:30 p.m. UTC):Chicago Fed national activity index(June)
10:30 p.m. HKT/SGT(2:30 p.m. UTC):Dallas Fed manufacturing business index(June)
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
Three Arrows Founders Break Their Silence; SEC Calls 9 Cryptos ‘Securities’ in Insider Trading Case
"First Mover" dove into the biggest stories of the day. CoinDesk Indices Managing Director Jodie Gunzberg shared her insights as bitcoin (BTC) topped $23,000. Plus, former prosecutor Ian McGinley joined to discuss the fallout after a former Coinbase employee was arrested over allegations of crypto insider trading.
Silvergate CEO Sees More Near-Term Pain for Crypto but Still Bullish on Bitcoin Lending:Silvergate posted strong second-quarter earnings, outperforming its crypto peers’ due to strong risk management.
FTX to Offer Early Liquidity to Customers of Bankrupt Crypto Lender Voyager:The crypto exchange will allow the customers to create accounts funded by an early distribution of a part of their bankruptcy claims.
Bank of Central African States Urged to Introduce Common Digital Currency: Report:The regional bank is a staunch critic of the Central African Republic's decision to make bitcoin legal tender in April.
Nexo, Crypto Lender on Prowl for Ailing Rivals, Faces Declining Deposits:An analysis of crypto lender Nexo's attestations, including older data retrieved using the Wayback Machine, reveals just how much its deposits have declined in recent months.
Three Arrows Capital Founders Say Terra, GBTC Trades Led to Fund Blowup: Report:“What we failed to realize was that luna was capable of falling to effectively zero,” Three Arrows Capital co-founder Su Zhu said.
Does Crypto Still Care About Elon Musk?:Tesla’s initial BTC purchase contributed to a wild, two-year price climb. But markets were unphased after the car company offloaded most of its bitcoin.
Other voices:1. The many lives of cryptocurrency(Axios)
"Tesla’s bitcoin sale, for all the caveats about freeing up cash, confirms what some of us knew all along: Elon Musk isn’t someone you should look to for guidance on cryptocurrency. He’s just a particularly loud, impulsive and unreliable follower." (CoinDesk columnist David Z. Morris) ... "We need to take this action to address the mismatch between our available assets and liabilities caused by the individual who breached his contract with us. It may take some time before we can recover funds owed to us in the litigation actions we are taking against this individual." (CoinFLEX blog) || Free GrubHub for a Year with Amazon Prime — How To Score Deal Following Partnership: Rafael Henrique / SOPA Images In a deal that will allow Prime members to sign up for a free, one-year Grubhub+ membership, Amazon took a stake in food delivery service company Grubhub on July 6, the companies announced. Find: Get Amazon Prime Free (or at a Discount) Ahead of Prime Day — Here Are 6 Ways To Do It See: Amazon Prime Day Starts July 12 — Here Are 5 Ways To Prepare and Save Money Members will be able to access unlimited $0 delivery fees from “hundreds of thousands of restaurants on Grubhub throughout the year,” according to the announcement. “I am incredibly excited to announce this collaboration with Amazon that will help Grubhub continue to deliver on our long-standing mission to connect more diners with local restaurants,” Adam DeWitt, CEO of Grubhub, said in the announcement. “Amazon has redefined convenience with Prime and we’re confident this offering will expose many new diners to the value of Grubhub+ while driving more business to our restaurant partners and drivers.” What Free One-Year Grubhub+ Subscription Entails For Prime members, it’s a monthly membership offering unlimited $0 delivery fees on orders of $12+ (before tax, tip, and other applicable fees) at eligible restaurants, and access to exclusive member perks — like free food and order discounts — and donation matching, according to Amazon’s website. If you’re not a Prime member, the membership will cost you $9.99 a month. However, if you want to become an Amazon Prime member, the rates are $14.99 per month and $139 per year, while Amazon Prime Student membership is $7.49 per month and $69 per year, according to Amazon. As for existing Grubhub+ members, Amazon said that they are eligible for the offer, “with the exception of Grubhub Campus, Corporate, and certain existing partnership members.” The free one-year Grubhub+ membership will begin at the start of your next billing cycle. What Happens After One Year Amazon explained that after your free one-year Grubhub+ membership ends, Grubhub will charge the payment method associated with your Grubhub account on a monthly basis at the then-current rate (presently $9.99/month). You can also cancel any time by contacting Grubhub customer support or visiting the “Grubhub+ membership” section. Story continues In terms of what the deal means for investors, CFRA Research noted that shares of both rivals DASH and UBER were under pressure following the announcement. “We believe the announcement has notable implications for the competitive landscape of the food delivery space, as the transaction essentially creates a more relevant #3 player after years of market share loss by Grubhub,” Angelo Zino, CFRA Research senior industry analyst, wrote in a note sent to GOBankingRates. Zino added that Grubhub will have the ability to take advantage of Amazon’s large Prime base, which should drive upside to volume at a time when pandemic tailwinds are waning. “We think DASH will be much more impacted given its U.S. dominant revenue exposure and share gain benefits in recent years. UBER’s diversification both by business segment (e.g., ridesharing, food delivery, freight) and geographic presence (nearly half overseas) makes it less susceptible. We also think it is plausible that Grubhub could be viewed more attractively to interested bidders given Just Eat Takeaway’s [Grubhub’s parent company] efforts to sell the business,” he added. Free Subs: Subway Is Giving Away 1 Million 6-inch Sandwiches on July 12 as Part of Its Menu Reboot Free Bitcoin Mining Games: Learn and Earn Just a year after it bought Grubhub in June 2021, Just Eat Takeaway said that it is “currently, together with its advisers, actively exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub,” according to a June 2022 press release. More From GOBankingRates 10 Best Countries To Live on Just a Social Security Check Top 10 Richest People in the World Take These 6 Key Steps Today To Retire a Millionaire How To Find Travel Insurance That Covers COVID-19 Cancellations This article originally appeared on GOBankingRates.com : Free GrubHub for a Year with Amazon Prime — How To Score Deal Following Partnership || First Mover Asia: Bitcoin and Ether Fall; Angry That Hodlnaut Has Frozen Your Funds? Too Bad, It’s in the Terms and Conditions: Good morning. Here’s what’s happening: Prices: Bitcoin falls below $24K before recovering slightly; ether is down. Insights: Crypto savings platform Hodlnaut angered users by freezing withdrawals, but the law may be on the company's side if there's ever a court case. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices ● Bitcoin ( BTC ): $24,141 −1.0% ● Ether ( ETH ): $1,898 −2.7% ● S&P 500 daily close: 4,297.14 +0.4% ● Gold: $1,794 per troy ounce −0.3% ● Ten-year Treasury yield daily close: 2.79% −0.06 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Bitcoin Falls Below $24K Before Recovering Slightly; Ether Drops By James Rubin Bitcoin seemed headed for a bright start to the week, topping $25,000 late Sunday (U.S. time) after flirting with the psychologically important threshold multiple times in previous days. But the largest cryptocurrency by market capitalization quickly retreated and was recently trading just over $24,000, down almost a percentage point over the last 24 hours, albeit still above the top part of the $20,000 to $24,000 range it's occupied for over a month. Investors remain in wait-and-see mode following weeks of sometimes hopeful and other times confounding economic indicators and company earnings. "It seems the cryptocurrency, like many other instruments, is testing a potentially significant barrier following the recent recovery and we may be seeing some profit-taking," Craig Erlam, senior market analyst, U.K. and EMEA (Europe, Middle East, Africa) for foreign exchange Oanda, wrote in an email. "Whether that becomes a full rotation lower isn't clear yet but it doesn't appear to have the momentum for a breakout at this time. Story continues Ether followed a similar pattern, rising to over $2,000 late Sunday before falling below $1,900. The second-largest crypto by market cap was recently down roughly 2.5% from the previous day, although well above levels earlier this summer amid growing investor enthusiasm for The Merge, which will change the Ethereum protocol from proof-of-work to the faster, more energy efficient proof-of-stake model. Two of Sunday's big winners, the popular meme coins SHIB and DOGE, were losers a day later, recently plunging more than 9% and 7%, respectively. MATIC tumbled more than 5%. Equities trade sideways Stocks fared somewhat better than major cryptos, with the tech-heavy Nasdaq and S&P 500 increasing 0.6% and 0.4%, respectively, amid ongoing hope that inflation has peaked and the U.S. Federal Reserve may be able to back off some of its current monetary hawkishness. But commodity prices declined after a number of indicators showed slowing growth in China. The price of Brent crude oil, a widely regarded measure of the energy market, dropped over 3% to about $95 per barrel. "The economic data from China overnight was very disappointing, to put it mildly," Erlam wrote. "Combined with the lending figures on Friday, it does not paint a good picture of domestic demand or the growth outlook." Crypto news A scotched deal between cryptocurrency custody company BitGo and crypto-focused financial services firm Galaxy Digital highlighted Monday's industry news. Earlier in the day, Galaxy Digital, the creation of noted investor Michael Novogratz, said it was abandoning its plan to purchase BitGo because the latter had failed to provide financial statements by an end-of-July deadline. The companies had first announced the deal in May 2021 for what was at the time about $1.2 billion in stock and cash. Later Monday, BitGo said it was planning to sue Galaxy Digital for backing out of the merger agreement, and will seek $100 million in damages from Galaxy, the amount of a previously promised break-up fee. The Federal Reserve announced it was publishing its final guidance for novel financial institutions to access its "master accounts," something these firms need to participate in the global payment system. The announcement would seemingly move the U.S. central bank one step closer to possibly allowing Wyoming trust companies, like Custodia and Kraken Bank, access to these accounts. European digital bank Revolut has been granted authorization by the Cyprus Securities and Exchange Commission, allowing it to offer crypto services across the European Economic Area. The authorization will enable Revolut to offer crypto services to its 17 million customers. And Singapore's High Court granted beleaguered crypto exchange Zipmex more than three months of creditor protection so that Zipmex can devise a funding plan, Bloomberg News reported. Decoupling from macro events? Arca Chief Investment Officer Jeff Dorman optimistically noted evidence of a decoupling between crypto prices and macroeconomic events. "The coincidental timing of idiosyncratic digital asset events (LUNA/UST, defaults/bankruptcies, ETH 2.0 Merge) and macro events (peak inflation, commodities rolling over, bad economic data leading to 'bad news = good news') makes it difficult to prove the decoupling," Dorman wrote in a Monday newsletter. "But if you look elsewhere in digital assets, there has been massive dispersion in digital asset prices since mid-June." He added: "All the market leaders that released big news/partnerships/tokenomics changes ultimately rallied the most (UNI, DYDX, LDO, ETH, CRV, AAVE, MATIC, CHZ, etc.). This is a very encouraging sign that digital assets are once again trading on their own information flows rather than being 100% tied to macro events." Biggest Gainers There are no gainers in CoinDesk 20 today. Biggest Losers Asset Ticker Returns DACS Sector Shiba Inu SHIB −9.8% Currency Gala GALA −6.5% Entertainment Terra LUNA −6.2% Smart Contract Platform Insights Angry That Hodlnaut Has Frozen Your Funds? Too Bad, It’s in the Terms and Conditions Earlier this month, Singapore-based crypto savings platform Hodlnaut froze withdrawals and token swaps citing “difficult market conditions.” Naturally, its user base was aghast and the legal threats came in fast and furious over Twitter. At the time, Holdnaut was applying for a license from the Monetary Authority of Singapore (it has since withdrawn the application), and surely this isn’t the type of behavior becoming of a licensed institution. Except this is all laid out in the terms and conditions, and Singapore courts may favor upholding this contractual agreement. “The standard terms and conditions of the crypto lenders will usually provide it with a broad and absolute discretion to suspend all, or any part, of its services to its customers,” Yuankai Lin, partner at RPC Premier Law Singapore told CoinDesk via email. “In Hodlnaut's case, it did have a contractual right under its standard Terms and Conditions to ‘suspend or terminate the Service or any part of the Service, at its discretion and without prior notice to the User.’” Lin said that, like any other digital service, the user would need to indicate their acceptance to open an account and this agreement would be binding on them. As for any legal challenge, this might not go anywhere. Lin said this has been tried before in the TradFi world, and the courts have ruled on the side of the institution. “The Singapore courts will generally recognize and uphold contractual terms giving the bank absolute discretion in relation to certain acts, provided that the bank exercises this discretion in good faith and not arbitrarily or irrationally. Any party seeking to challenge the bank's act will essentially have to prove the bank had abused its discretion,” he said to CoinDesk. Lin said that while there have not been any reported decisions in Singapore on crypto lenders specifically exercising their discretion to freeze funds, he expects the same framework of discretion from TradFi to be applied. As of now, MAS has been focused on regulating crypto from an anti-money laundering and combating terror financing perspective. “MAS has stated that it will look towards widening the scope of cryptocurrency regulations in Singapore to cover more areas such as consumer protection, market conduct, and reserve backing for stablecoins,” Lin told CoinDesk. Without a license from MAS, Holdnaut won’t be able to offer token swap services. It can however still offer lending and borrowing services for cryptocurrency-related transactions, Lin explained, as it is not an activity currently regulated by the MAS. Holdnaut has not applied for bankruptcy protection unlike other CeFi lenders Celsius Network and Voyager Digital. The company has previously announced that it has "no exposure or loans" with Three Arrows Capital or Celsius. Per previous CoinDesk reporting the lender is working with Singapore-based law firm Damodara Ong on a timeline for a plan to preserve user assets. Hodlnaut has said on Twitter that it plans to provide another update to users on August 19. Important events 9:30 a.m. HKT/SGT(1:30 a.m. UTC): Reserve Bank of Australia monetary policy minutes 12:30 p.m. HKT/SGT(4:30 a.m. UTC): Japan tertiary industry index (MoM/June) 5 p.m. HKT/SGT(9 a.m. UTC): Eurostat trade balance n.s.a. (June) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Bitcoin (BTC) briefly tops $25,000 for the first time since June. Brent Xu, Umee Founder and CEO, joined "First Mover" to discuss. Plus, Monero’s privacy-focused crypto protocol upgrade is now live. And Terraform Labs CEO Do Kwon broke his silence about Terra's collapse. Headlines Crypto Lender Celsius On Pace to Run Out of Cash by October: The firm, which filed for bankruptcy protection in July, is also short of $2.8 billion in crypto assets, the court filing reveals. Acala’s Stablecoin Falls 99 Percent After Hackers Issue 1.3 Billion Tokens: A bug in the protocol’s newly-deployed iBTC-aUSD liquidity pool left the door wide open for hackers to exploit. Netherlands Arrests Suspected Developer of Sanctioned Crypto-Mixing Service Tornado Cash: The country's Fiscal Information and Investigation Service hasn't ruled out making more arrests. JPMorgan: Ethereum Miners Face an Abrupt Change Following the Merge: Ethereum Classic miners are likely to be among the main beneficiaries of the shift to proof-of-stake validation, the bank said. Longer reads An Alleged Tornado Cash Developer Was Arrested. Are You Next?: If you’re developing a crypto mixer, it’s best to do it anonymously. Other voices: Crypto Evangelist Mark Cuban Is in Trouble (TheStreet) Said and heard "Blockchain founders need to return to the space’s roots of decentralization, while using “DeFi” as a guiding ethos to introduce smart contracts and new incentive structures into legacy industries." ( Unchained founder Matt Waters/CoinDesk ) || SEC’s Gary Gensler Sees Plenty of ‘Noncompliance’ Across Crypto Industry: The broader cryptocurrency industry contains “a lot of noncompliance” and the U.S. Securities and Exchange Commission (SEC) is continuing to develop its regulatory framework, SEC Chair Gary Gensler said Tuesday on Bloomberg TV's"Balance of Power"show.
Gensler mentioned trading and lending platforms that have taken in money and in some cases failed, saying those businesses fall under “classic parts of the securities laws.”
“We at the SEC are going to do what we can,” Gensler said, but added there are currently too many platforms that haven’t properly complied with the law and registered accordingly.
When it comes to the crises faced by many crypto lenders and exchanges recently and what type of regulation is now needed, Gensler said "it's a mixture of things," including collaborating with market participants and reworking some investor protections. And he noted that the SEC needs to be “technology neutral” yet still protect the public.
If crypto is to continue, more trust in the system is necessary, he said. With respect to more regulation, Gensler said the SEC already maintains “a lot of laws on the books that have been there for decades.”
He said many crypto tokens have attributes of being promotional and raising money from the public and promised the SEC will “continue to bring robust enforcement actions."
Read more:SEC’s Gensler Reiterates Bitcoin Alone Is a Commodity. Is He Right? || 3 Ways to Protect Your Profits During Crypto Winter: While many cryptocurrencies have rallied substantially from their June lows, it’s too early to declare that crypto winter has ended. Investors taking a long-term view of the sector may not want to liquidate their crypto portfolios, though. Instead, to retain as much value as possible during this crypto winter, they should consider upgrading the quality of their portfolio. Given the hit in cryptoasset prices nearly across the board, many of the highest-quality tokens are trading at a discount. Accordingly, those looking for more defensive options (if there is such a thing in this sector) have quite the opportunity right now. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Here are three great options for building a solid crypto portfolio amid this rebound. BNB-USD Binance Coin $308.71 ETH-USD Ethereum $1,849.13 SOL-USD Solana $40.64 Binance Coin (BNB) A Binance Coin sits in front of trading charts. Source: Shutterstock Binance Coin ( BNB-USD ) is the utility token for the world’s most liquid and perhaps most popular cryptocurrency exchange. Also, it is the native token for the Binance Smart Chain, one of the fastest-growing smart contract platforms. Binance recently announced an exclusive multi-year partnership with soccer legend Cristiano Ronaldo . Other notable partnerships include its deal with TikTok star Khaby Lame . These moves have already impacted Binance’s popularity and stand to benefit token holders as BNB becomes more mainstream. Binance plans to launch NFT collections with these celebrities in a bid to bolster its market share. Over time, I think BNB is a token that could capture significant market share as more focus shifts to cryptocurrency exchanges. With the Binance exchange being the dominant global player, investors taking a long-term approach to this sector may benefit from holding BNB. Ethereum (ETH) A concept image of a virtual coin based on the Ethereum logo. Source: Filippo Ronca Cavalcanti / Shutterstock.com The world’s second-largest cryptocurrency by market cap, Ethereum ( ETH-USD ), has undoubtedly been one of the big winners of the recent thawing of crypto winter. Much of that has to do with this network’s upcoming merge, which is scheduled for some time next month . Story continues Investors bullish on the future iteration of Ethereum have been buying up tokens and staking ETH in anticipation of this event. The merge will transform the Ethereum blockchain into a more energy-efficient proof-of-stake network. Additionally, many expect the tokenomics of this network to improve, as well as the cost and throughput metrics. For those who use the Ethereum blockchain, this upgrade is a big deal. For long-term investors looking to benefit from what could be the biggest upgrade the crypto world has ever seen, Ethereum may be a great buy heading into the merge. Solana (SOL) Concept art of the Solana (SOL-USD) blockchain. Source: Shutterstock Solana ( SOL-USD ) is a rapidly growing smart contract platform that’s designed to become one of the most preferred smart contract platforms alongside Ethereum. Almost anything that can be done on Ethereum can be carried out on Solana. Indeed, Solana’s ecosystem growth has been impressive, with many users and developers shifting their focus to this network. Users can find NFTs, DeFi applications, meme coins and metaverse play-t0-earn games on Solana. Given the amount of growth Solana has seen, this token’s long-term chart reflects just how powerful network effects are in this space. I should note that a series of network outages have concerned some investors in Solana. They are a big part of the reason this token is down more than 80% from its peak last year. However, for long-term investors looking to buy quality tokens at a discount, this is certainly an interesting option to consider. On the date of publication, Chris MacDonald had positions in Ethereum and Solana. 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 Ways to Protect Your Profits During Crypto Winter appeared first on InvestorPlace . || Crypto trading volumes in India recover: Trading volumes at Indian crypto exchanges are recovering on the back of a rally in digital asset prices. Volumes had dropped after the government had imposed steep taxes. See related article: Bitcoin bounces back after US reports worst inflation in 41 years Fast facts Trading volumes at crypto exchange WazirX rose about 35% to US$7.18 million on July 20, from US$5.30 million on July 1, according to data from crypto index tracker nomics.com , as Bitcoin prices rallied to briefly cross the US$24,000 mark on Wednesday. Another Indian crypto exchange, CoinDCX, saw a roughly 63% increase in volumes to US$3.37 million on July 20, up from US$2.07 million on July 1, data showed. Volumes on Indian exchanges had dropped more than 60% after a 1% tax-deducted-at-source (TDS) kicked in from July 1 on the sale and transfer of crypto assets above 10,000 Indian rupees (US$125). Trading volumes had slumped to their lowest in years after a 30% flat tax kicked in on April 1, according to research by Crebaco. See related article: Ethereum price breaks US$1,600, Ethereum Classic surges 22% || All Eyes on Europe +Oil+ FOREX ( EUR & RNBZ new repo facility): Japan holiday today will sap some liquidity from Asian trade today, and US cash treasuries will be closed in the region.
US equities were stronger Friday,S&P up 1.9% on better US data, closing the week 0.9% lower. US 10yr yields finished down 4bps to 2.92% and 17bps for the week. Oil closed up 2.1% and back above USD100/bbl for now.
Overall the robust US data on Friday eased concerns about an imminent recession but is also unlikely to mount an additional case for a 100 bp Fed hike. And it was about as goldilocks of a mix of headline data risk as one could have expected given the FED’s dilemma of balancing Inflation vs Growth. Especially as stubbornly high inflation could lead to the FED overshooting and market pricing in a much higher risk of recession. But the decline in US long-term inflation expectations and less hawkish Fed speak on Friday helped temper the pricing of aggressive hikes and helped US equities close higher.
OIl is opening the week softer as the market digests the demand impact of the rise in new Covid cases in China and as the market cautiously awaits the monumental event risk if Nordstream 1 gas flow from Russia to Europe will resume later this week.
The OPEC+ quota system ends in September, and attention is turning to what will happen next.
As long as the agreement is in effect, Saudi Arabia has made it transparent that individual producers with spare capacity should not exceed their quota to offset underproduction elsewhere within the group.
From October, however, this changes. Nigeria, Libya, Venezuela, Iran, and Ecuador are all struggling to meet their quotas, while Saudi, Iraq, Kuwait and the UAE have 2mb/d of spare capacity.
In addition, Venezuela could add 1.25mb within a year if US sanctions ease, according to our recent expert call, and Iran is ~700kb/d below pre-agreement production and ~1.3mb/d below stated capacity.
As the market reprices a delayed reopening in China and potentially more barrels coming back to the market in October, oil could struggle to make new highs. And It could crash later this week if the gas flow from Nordstream1 doesn’t return, which would undoubtedly tip Europe into a deep recession.
After hitting parity for the first time since 2002, the Euro faces several critical tests in the week ahead—the first ECB hike in over a decade along with an anti-fragmentation backstop tool, a potential further interruption to Russian gas flows, and now the risk of an early election in Italy.
And while an ECB rate hike and rolling out an anti-fragmentation too could temporarily stabilize the EURO near the recent low end of the trading range, the prospect of a prolonged gas flow disruption is likely to hang over the Euro-like a storm could throughout the week. But, even in the markets baseline scenario that gas flows will partially return (to about 40% of normal), it is crucial to keep in mind that anything less than 100% will almost certainly require either higher prices pushed on to the consumer or government rationing—in parts of Europe, likely leading to a recession in Germany and Italy.
The Reserve Bank of New Zealand announced a standing repo facility Monday morning after funding via FX forwards crashed in April and May as the domestics chased USD. The repo facility will help to prevent this by allowing eligible counterparties to lend NZ overnight and TN at 15bp below the official cash rate (OCR).
Offshore banks will then have a mechanism for lending NZD surplus, given these banks generally run USD surplus. This should help anchor the front-end FX forwards as it provides more liquidity when the system balance remains above 50 bn and should be more beneficial to offshore banks looking to lend out surplus NZD better than the FX forward implied.
Thisarticlewas originally posted on FX Empire
• Sri Lanka puts emergency in place ahead of parliament’s vote for new president
• New Zealand’s inflation hits 3-decade high, raising bets on sharper rate hikes
• Scorching heat expected to resume baking China this week
• Top 5 Crypto Pairs to Watch this Week BTC, ETH, LDO, MATIC, and SOL
• Oil prices extend gains as weaker dollar, tight supplies support
• Dollar prowls just below highs as euro gasps for gas || First Mover Americas: BTC, ETH Drop Amid Geopolitical Tensions: Price Point: The correlation between crypto and stock markets is strong, as global markets take a hit amid heightening geopolitical tensions. Both bitcoin and ether are down. Market Moves: ETH and BTC trading volumes converge for the first time. Will there be a change in market dominance? Chart of The Day: The U.S. yield curve is at its flattest level since 2000. This article originally appeared in First Mover , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Price point Bitcoin ( BTC ) and ether ( ETH ) were both down on Tuesday as global markets fell on fears that the U.S. House of Representatives Speaker Nancy Pelosi’s (D-Calif.) planned visit to Taiwan could heighten tensions between Beijing and Washington. The prospect of escalating geopolitical tensions led to a fresh risk-off sentiment among investors, and cryptocurrencies are seen as risky assets. In China , the benchmark Shanghai Composite dropped 2.3%, and Hong Kong’s Hang Seng Index fell 2.4%. BTC was down by 1% over the last 24 hours and ETH dropped 5%. “The larger dip in ether is just ETH taking a profit trade from investors after a 50% rally in July,” said Pablo Jodar, financial products manager at Storm Partners, a systems provider for the crypto industry in Europe. In July, ETH rallied by 56% and BTC rose 16%, according to data from TradingView. Ether's returns in July (TradingView) Bitcoin's returns in July (TradingView) “It’s important to recall the difference between the two tokens’ rally last month,” Jodar said. “It’s normal to see a bigger dip in ETH now.” The correlation with stocks remains strong for cryptocurrencies, which signals that the Hang Seng Index's drop on Tuesday hurts the momentum, Jodar said. “The support for ETH now sits at around $1,500,” Jodar said. “If ETH manages to keep that level, it will be a positive signal for the market and the bullish trend could continue to $1,700.” Tokens trading in the green Tuesday included Crypto.com ’s cronos ( CRO ) and chilliz ( CHZ ), which is a digital currency for sports and entertainment, powering the Socios.com platform. They were up by 7% and 13%. Story continues Elsewhere, Coinbase Prime has added ethereum to its expanding list of staking options for U.S. institutional clients, according to a blog post Monday. According to a report from CoinShares, crypto funds saw a fifth consecutive week of inflows, with net inflows of $81 million in the seven days ended July 29. July’s $474 million of inflows were the largest monthly amount this year and reversed June’s outflows of $481 million. User activity on the Aave lending platform rose to a 2022 high ahead of the launch of its yield-generating stablecoin, GHO. Read more about that here . Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +6.0% Entertainment Biggest Losers Asset Ticker Returns DACS Sector Terra LUNA −12.2% Smart Contract Platform Polkadot DOT −5.9% Smart Contract Platform Chainlink LINK −4.9% Computing Market Moves ETH and BTC Trading Volumes Converge for First Time For the first time this year, ether's market share of trading volume achieved 50% parity with bitcoin's, according to data provided by Kaiko. It was previously around 45% to 50%. BTC vs. ETH volume. (Kaiko) “This could be because of FOMO from investors of ETH 2.0 or because there is already a change in tendency,” Jodar said, using the acronym for "feat of missing out" and referring to an upcoming software update on the Ethereum network. “In the next bull market, maybe we will see a change in market dominance," he said. Chart of the Day: U.S. Yield Curve Flattest Since 2000 By Omkar Godbole The U.S. Treasury yield curve (TradingView) The U.S. 10/2 yield spread, measuring the difference between yields on 10- and two-year Treasury notes, is now at its most inverted level since September 2000. The flattening indicates that even as the Federal Reserve raises rates and puts upward pressure on the two-year yield, market participants are buying the 10-year note, pushing its yield lower. That reflects investor belief that the Fed's tightening cycle will be over soon and rates will fall again, perhaps to support economic growth. Bond prices and yields move in the opposite direction. The flattening, therefore, could be considered bullish for risky assets, including bitcoin. It's the classic case of bad news being good news for markets, especially since risk assets seem to have priced the Fed's tightening since November. The 10-year note often attracts demand for safe haven assets and could do so if tensions between the U.S. and China escalate over Pelosi's visit to Taiwan – a self-governed Island claimed by Beijing. In that case, risk assets will likely dip alongside the continued flattening of the yield curve. Latest Headlines Hedge Fund Manager Steve Cohen Exits Crypto Trading Firm Radkl, Bloomberg Reports : The New York Mets owner's planned investment in Radkl was reported at the firm's inception last September. Nomad Hacked, $45M Stolen So Far, The Defiant Reports : The cross-chain messaging protocol said it's aware of the situation and is investigating.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 20260.02, 20041.74, 19616.81, 20297.99, 19796.81, 20049.76, 20127.14, 19969.77, 19832.09, 19986.71
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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)]
May the force be with you: 2 Star Wars trades: Disney's(NYSE: DIS)stock may have had a rough time recently, but "Fast Money" traders see an opportunity.
Trader Guy Adami said that with the stock down more than 20 percent in the last couple of weeks, the valuation is reasonable. He also has faith the CEOBob Igerwill "figure it out."
"I understand the problems they are having on the cable sides of things, but I also think he's one of the best managers out there. You've got to give him the benefit of the doubt. If the market stabilizes in any way, it goes to $110," he said on Friday.
Trader Steve Grasso is long Disney. "I do believe it's going to work its way up and I do believe they [Disney] are the king of content."
He also said that Netflix(NASDAQ: NFLX)too could benefit from its deal with Disney. "The Netflix deal with Disney kicks in 2016, so they're going to get Star Wars, Marvel and superheroes. There's a lot of content that is going to save both stocks," he said.
Read MoreWhy it might not be time to dump Disney shares
Trader Brian Kelley said that Disney is a place to buy when the market gets stronger. "You have a great risk-to-reward ratio. You could get it up to $115. Disney is where you look when the market starts to rip," he said.
Disclosures:
STEVE GRASSO
Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long MAT, MCD His kids own EFA, EFG, EWJ, IJR, SPY.
BRIAN KELLY
Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasuries.
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 || Your first trade for Monday: The " Fast Money " traders delivered final trades that were out of this world after NASA astronaut Scott Kelly asked for a stock tip from aboard the International Space Station. Tim Seymour recommended playing the frontier markets by buying the iShares MSCI Frontier 100 ETF (NYSE Arca: FM) . David Seaburg's play was Starbucks ( SBUX ) , alluding to the strength of brand loyalty and new products. Brian Kelly suggested shorting the Market Vectors Russia ETF (NYSE Arca: RSX) as a heavenly oil play. Guy Adami went intergalactic as a buyer of Constellation Brands ( STZ ) . Trader disclosure: On July 24, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Today he sold C. Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen. Today he shorted the Ruble. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. David Seaburg: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || Time-Release Capsules Make Medical Marijuana More Approachable: Colorado-based Wana Brands got its start making edible marijuana products. When using pot became more and more socially acceptable across the United States, the company recognized that there was a large percentage of the population that would be interested in trying the drug, but not smoking it. The company's edibles make marijuana less intimidating for non-smokers and appeal to a wider range of customers. Medical Marijuana With medical marijuana gaining legalization in several states across the US, Wana Brands looked to create a new product that would similarly make medical marijuana use more approachable for those who had little or no exposure to the drug. To fill that gap, the company has developed an extended release pill that delivers doses of the drug to a patient's system over the course of 12 hours. Each capsule contains two measured doses; one that takes effect soon after ingestion and another that activates several hours later. Related Link: Technology Proves Invaluable For Marijuana Industry Making Pot More Medical The capsules, Wana owner John Whitman said, are a good way for the medical marijuana industry to change its image and be considered as a serious treatment option. Many people are skeptical about marijuana use for treating diseases because most of the delivery methods appear recreational. Eating a pot brownie to cope with muscle spasms or smoking a joint to deal with anxiety can make potential patients skeptical about the drug's benefits. However, time release capsules make marijuana treatments more comparable to being prescribed a traditional medicine. Many believe that products like this one and could help propel the medical marijuana market into more states. See more from Benzinga Greeks Begin To See An Opportunity In Bitcoin LendingRobot And Lending Club Aim To Automate Investing Donald Trump Making Powerful Enemies In Silicon Valley © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Could this split be the end of bitcoin?: With a market valued currently at more than $3 billion, and hundreds of millions invested in related technologies, a lot is riding on bitcoin(: BTC=). But the digital token some say could replace government-backed currencies is facing a crisis that experts warn could potentially render it worthless.
Over the weekend, two well-known bitcoin developers "forked" the technology, releasing software that will allow the community to split away from the core program. This contentious split arose overa long-running squabblebetween developers that started as a disagreement about the way data is packaged, and morphed into a philosophical question about the future of the technology.
That very future-as CNBC predicted in July-could conceivably be threatened by the new software-called Bitcoin XT.
"Contentious hard forks are bad for Bitcoin," the semi-official site Bitcoin.org's David Harding wrote ina policy post. A "hard" fork such as XT is not backwards-compatible with other versions of the software, meaning that any divergence in adoption is more difficult to reconcile.
"At the very best, a contentious hard fork will leave people who chose the losing side of the fork feeling disenfranchised. At the very worst, it will make bitcoins permanently lose their value. In between are many possible outcomes, but none of them are good," the post continued.
Here's the gist of the squabble: Bitcoin transactions are packaged into blocks before being recorded on bitcoin's permanent ledger. Developers disagree over what the maximum size of those blocks should be. On one hand, smaller means more security, but on the other hand bigger means that bitcoin technology can more easily scale into wider adoption and noncurrency applications.
And beyond just the technical matter, the fight comes down to a more human dilemma: Who gets to decide which way the whole community, which is effectively leaderless, has to go?
Mike Hearn, one of the developers behind XT,wrote in a lengthy postexplaining the fork that the current limitations of the original software are blocking the growth of bitcoin and its blockchain currency. He disputed Bitcoin.org's assessment of worst-case scenarios, and said that the fork may be the best way to save the currency from becoming irrelevant.
Read MoreThe details of the debate can be found here.
"There's no reason to believe a hard fork would make bitcoins permanently lose their value. On the contrary, it should increase them, as it'd prove the system is robust against poor decisions by any one group of developers," Hearn said in an email to CNBC. "By asking Bitcoin users to believe that a contentious fork can destroy the system, all they're really saying is that the community must obey the wishes of a tiny group of developers regardless of whether those wishes are bad or not."
The way the XT fork works is that miners (who process transactions by solving complex math problems) can vote for whether they want to switch to the new system or stick with the core program. After Jan. 11, 2016, once 75 percent of mining power is voting for the fork, a two-week waiting period begins, and then the new rules take effect.
Several polls and projections have indicated that miners may favor the primary XT change-making the maximum size for a "block" of data eight megabytes instead of one megabyte-so a fork could be in the future.
Still, several core developers of the technology-who have taken over maintenance and growth of the technology from mysterious creator Satoshi Nakamoto-have come out against the change, and online discussions seem to indicate an ideological split in the community.
Those core developers against the block size increase either did not respond to request for comment from CNBC or denied via a representative.
But Adam Back, who developed one of the key algorithms behind bitcoin and still works with core developers, said the complaints about XT are manyfold, including worries that a 75 percent activation vote is too low, and that some of the other changes to the program are not sufficiently secure.
Back said the community is actively working on finding solutions (with developer workshops scheduled) to the block size problem, and that jumping ahead of the normal review system is "a little puzzling" and "kind of disappointing."
One major expert in the communitywrote in a Reddit postthat XT "represents a somewhat reckless approach, which in the name of advancement shatters existing structures, fragments the community and spins the ecosystem into chaos."
Read MoreBitcoin firm raises $116M, including Qualcomm investment
Hearn, however, told CNBC he thinks that assessment is "completely wrong," and that the XT approach has been debated for month with every objection considered. After all, the development of the potentially world-changing Bitcoin technology has been largely developedwithoutmuch structure, he said.
"You can't shatter something that doesn't exist. Unfortunately a whole lot of people in the bitcoin community who aren't [closely] involved haven't fully realized or accepted how ad-hoc the Bitcoin Core project truly is," Hearn said, adding that "underlying contradictions and inability to make decisions" are actually the major problems that XT seeks to address.
Hearn's desire to alter the decision-making process behind bitcoin would see him and XT co-developer Gavin Andresen jointly managing the technology, rather than a group of developers. Back acknowledged that the emergence of XT partially stems from resentment about other developers' ideas being shot down, but he said he believed a distributed power structure works best.
"It's intentionally a decentralized process. People are worried that with $4 billion on the line someone could be blackmailed or could intentionally insert a bug," Back said. "They didn't think about the risks of being the sole maintainer of $4 billion of other people's money.... They're not thinking ahead far enough about the implications for all of this." (Thetotal value of all existing Bitcoinswas about $4 billion at the beginning of August; it's closer to $3.4 billion now.)
As for concerns that his actions could spin the multibillion-dollar ecosystem into chaos, Hearn said he is in fact saving the technology.
"[Andresen] and myself have said since the start that Bitcoin is a risky experiment. I'm sure everyone who invested knew that," Hearn wrote. "But if they invested, they presumably invested in the hope that Bitcoin would take off and become really mainstream. Right now, the only way to get there is via Bitcoin XT. So they should consider helping us out to ensure the outcome they would like."
Investor Roger Ver-so-called "Bitcoin Jesus"-is one of several prominent voices in the community to voice his approval of the XT project.
Additionally, a statement from all of the Chinese mining pools-which account for much of the power in the network-came out in favor of a block size increase. Still, Hearn could not say how he thought the community would swing, but underscored his contention that a vote for the core software could stymie future growth.
"Well, Bitcoin will still exist no matter what happens. But obviously if there's no chance of growth and the community decides to follow the Bitcoin Core developers (without even knowing who exactly is in that group), then a whole lot of other developers and entrepreneurs will leave," Hearn said. "Because you can't build a successful business on an infrastructure with no chances of growth."
All of this occurs against a background of increasing corporate and financial interest in bitcoin and its backing blockchain technology.
Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised.
Read MoreWhy is it called the 'blockchain?'
Hearn wrote in his explanation of the fork that there are few risks of breaking the community: If less than 75 percent votes for XT, then nothing changes, and if more than 75 percent is in favor, then the rest of the marketplace will follow suit so as not to be left behind.
"We don't think the sky will fall if the chain forks. We think people on the small-blocks side of the chain will upgrade and continue on the bigger-blocks side. There will be plenty of time for them to know about the change and prepare," he wrote.
Still, if a sizable minority decides to hold out against XT and its bigger blocks, then presplit bitcoins could be spent twice-violating one of the key facets of the digital currency, and potentially harming trust.
Back warned that the results of the fork could be disastrous. Anti-XT programs have sprung up to corrupt the vote, so even if it appears that there's been a 75 percent majority, the community could still be split 50-50.
"If you get some kind of 50-50 split," Back explained, "you have two ledgers, not accepting each other's blocks ... inconsistent ledgers and exchanges that were out hundreds of thousands, or millions, of dollars."
"Nobody wants it to go there, but the Bitcoin XT thing is teetering into a dangerous situation and dynamic," he added. "The safest thing to do is to stop that dynamic well before activation."
Jeff Garzik, another bitcoin core developer who has expressed support for bigger blocks, told CNBC in June that creating a contentious fork would be the "worst of all possible options."
As Hearn said in his letter to the community: "So this is it. Here we are."
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• Personal Finance || CCEDK and Bit-X Release Nanocard: The First True Crypto-Debit Card: CCEDK has announced that it is coming out with its own Bitcoin debit card BLOKHUS, DENMARK / ACCESSWIRE / July 13, 2015 / In addition to strictly storing the funds as Bitcoin or USD, the user will have the option to store their money as a BitShares BitAsset. Also referred to as SmartCoins, they would be pegged to the value of the dollar or another major currency. "A new generation of 2.0 coins is being used to address the volatility issue. BitShares' SmartCoins will be available as funding options for the NanoCard in the coming months, meaning that customer balances can be safely stored as crypto coins pegged to USD, EUR, CNY or even gold and silver, and converted only at the time of use," explained CEO Ronnie Boesing. This is a fundamentally lacking feature in many card programs available to Bitcoiners, although Bitreserve has come along way to deal with the problem of volatility. The new card will be called the NanoCard and will be broadly available to customers of the exchange beginning today. The NanoCard is a collaboration between Danish bitcoin exchange CCEDK and forex platform Bit-x , which aims to show how virtual currencies are finally coming of age. Ronnie Boesing believes that something like the NanoCard could be a "killer app" for Bitcoin, saying. "Bit-x, CCEDK, Cryptonomex, BitShares: each provides a part of the puzzle and the result is bitcoin's killer app." However, there are a number of other Bitcoin debit cards out there, including some that allow the user to receive part of their pay in Bitcoin, and then still have access to the funds for spending even after the conversion to bitcoin. Regardless, those at CCEDK were excited to r e lease a debit card for their traders to make use of. According to CEO Mr. Boesing, "We have combined the strengths of digital currencies pioneered by bitcoin with the universal acceptance of major credit cards. It's the combination of technologies that makes the NanoCard so powerful. We are extremely proud to have partnered with Bit-x after just a year in business. The result is perhaps the world's first true crypto-debit card. No one can tell you how to use your own money and thanks to Bit-x this will be accepted everywhere." Additionally, CCEDK is partnering with Cryptonomex in order to provide new security measures to protect funds and trading. Part of what Cryptonomex will do is create auditing and transparency layers for CCEDK's customers to have an opportunity to verify what's on the exchange. Transparency is an element of strength for any exchange, as the Bitcoin community learned, through events like Mt. Gox, what a severe lack of transparency can do. "You won't have to worry about our exchange being hacked or whether it is honest or solvent," explains Boesing. Story continues Contact CCEDK | Crypto Coins Exchange Denmark Aps: Ronny Boesing +45-36-98-11-50 [email protected] Tyttebærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE: CCEDK.com View comments || Barclays Becomes First Big U.K. Bank To Accept Bitcoin: Over the weekend, Barclays PLC (NYSE: BCS ) announced that it was planning to take steps toward embracing the use of bitcoin by allowing charitable donations using the cryptocurrency. The London-based bank said it was entering into a partnership with an unnamed "bitcoin exchange" in order to help charities accept bitcoin donations. Barclays And Bitcoin This is not the first time the bank has expressed interest in bitcoin. Related Link: Bitcoin Goes Ivy League Barclays has been working to understand the benefits and risks of the cryptocurrency this year by working with bitcoin startups and researchers to determine if and how digital currencies can fit within the traditional finance sector. The bank has praised blockchain, the ledger-like technology that powers bitcoin, as an innovative system that may significantly benefit traditional banking. Bitcoin Donations Barclays' decision to help charities accept bitcoin donations marks another step forward for the UK, which has been working to make London a hub for bitcoin development. The region already has a prominent place in the financial world, but lawmakers and banking officials are hoping to create an environment that promotes the expansion of bitcoin. Charities Benefit From Bitcoin Charities have been a good starting point for bitcoin adoption, as there are several benefits to accepting digital currency donations. For one, transaction costs are lower, and often nonexistent for non-profits, meaning that more of the donated money makes its way to the intended charity. By accepting bitcoin, charities also appeal to a larger audience and could draw in funding from people who otherwise may not have donated. See more from Benzinga Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Google vs Apple: Which will be better in 11 years?: Google went public 11 years ago, and early buyers have done alright for themselves. Class A shares have enjoyed a a split-adjusted gain of nearly 1,300 percent since their first close.
"Fast Money" traders believe the company's prospects looks just as promising in the 11 years to come. They contended that Google(GOOGL)holds more upside than technology giant Apple(AAPL), currently the largest company in the world by market capitalization.
"I'd rather go with Google, which has multiple revenue streams and they've also shown to be a much better venture capitalist" through acquisitions, said trader Brian Kelly.
Kelly expressed concern about Apple's possible reliance on the iPhone for growth in a "saturated" smartphone market. He noted that Google has branched out through acquisitions like YouTube and internal investments.
Trader Karen Finerman-who owns Google personally and Apple through her firm Metropolitan Capital Advisors-also touted the variety of businesses at Google and its "moon shot" projects. The company later this year will set up a new operating structure under a holding company Alphabet, which will house its newer projects like Internet service, health services and self-driving cars.
Read MoreGoogle's Alphabet move was brilliant
Google looks more appealing as it seems "very hard to be replicated," added trader Guy Adami. Trader Tim Seymour-who owns both stocks-also prefers Google, saying it holds a place as "one of the most important companies in the world."
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Brian Kelly
Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, Yuan. Today he bought Euro.
Today he sold US dollar. Today he closed his short position in Yen.
Karen Finerman
Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || C&W Unveils the 'New' Flow and Creates History in Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - Telecoms history was made in Barbados today as Cable & Wireless Communications (C&W) officially launched its retail brand, Flow, for its newly combined consumer group. The 'new' Flow will deliver a compelling set of quad play products and services via its Fibre to the Home (FTTH) infrastructure set to reach 100% of Barbados homes by year end. This will make Barbados the first country in the world to have 100% FTTH coverage.
"We are pleased to usher in a new culture of innovation and technical excellence, backed by major investments in our Fibre to the Home infrastructure," said John Reid, President of C&W Consumer Group. With our combined strengths, Barbados consumers will have access to the most technologically advanced quad play products in the region, through our mobile, video, landline and broadband services.
Reid also said that the foundation of the new Flow brand strategy was consistent with the positive characteristics of the Caribbean. "We are driven by all that is positive in the Caribbean," he said. "The people, the passion, and the drive to succeed. Against that backdrop, we commit to continue our focus on innovation, technical excellence and great customer service."
Flow also unveiled plans to become #1 for customer experience in Barbados and the region. According to Niall Sheehy, the Country Manager for Flow Barbados, "Flow will realise this bold vision by making significant changes across our operations to drive an outstanding customer experience, which will extend beyond the obvious frontline transactions." Sheehy said that, "In all departments and in each role the goal will be to put the customer first in every aspect of our business."
The 'unveil' of the new brand, follows the announcement in March by C&W to merge its operations with Columbus International. C&W will follow this inaugural launch throughout the Caribbean on a phased, country-by-country basis over the next twelve months.
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 430k and Broadband 650k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:http://www.cwc.com. || Will The New York Times Piece Damage Amazon?: On August 15, the New York Times published an article slamming e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN ) for its unforgiving corporate culture. The piece describes in with anecdotal stories how employees are pushed to their limits in an environment that thrives on tension and inspires fear. The piece gained traction on social media and many customers said it was enough to stop them from using the service in the future. However, shares of Amazon are up 72.46 percent year-to-date, leading many to wonder just how much damage the article will do. Bezos Strikes Back Following the release of the article, Amazon CEO Jeff Bezos sent out a staff memo in which he asked employees to contact him directly if they'd received the kind of treatment the New York Times had described. He maintained that Amazon's culture is very different from what was depicted and said he was shocked by the stories told. Other current Amazon employees took to the Internet in defense of Amazon, saying that the descriptions were inaccurate and that the company has been misrepresented. Related Link: Amazon's Quarter Was A 'Full-On Crusher' Solid Performance While the article may have temporarily tarnished Amazon's glow, the company's solid Q2 performance is likely to overshadow complaints about management from an investors' perspective. In July, the company released strong Q2 sales and impressive financials which suggest that Amazon is on an upward trajectory. From a money-making point of view, the article has done little hurt the retail giant's appeal. Public Perception In the social media age, public perception is a huge part of a company's success. SeaWorld Entertainment Inc . (NYSE: SEAS ) lost a huge volume of customers after being slammed in the media for its treatment of orcas and Amazon similarly runs the risk of being known as a cruel company that treats its workers poorly, something that could deter shoppers from using the site. However, so far the fallout from the article appears to be minimal, with most expecting more outrageous comments from the 2016 Presidential hopefuls to redirect the public's attention in the coming days. Story continues See more from Benzinga What's Happening To Media Stocks? Bitcoin Rewards Gain Popularity Bitcoin, Marijuana And Drones: Meet Trees © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BTCS Completes Name Change and Launches New Website: ARLINGTON, VA--(Marketwired - Jul 28, 2015) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), formerly known as Bitcoin Shop, Inc., a blockchain technology focused company which secures the blockchain through its transaction verification services business, recently filed to change its name. The name change should be reflected in the coming weeks once it is processed by FINRA. "While our Company was initially focused solely on the digital currency space, we have since evolved our operations to position ourselves to be a leader in the much larger blockchain technology arena," stated Charles Allen, Chief Executive Officer of BTCS. "This refined strategic focus represents an exciting market opportunity, and changing our name to reflect this broader focus was an important step in our evolution." As Jemima Kelly of Reuters recently reported, "The data that can be secured by the blockchain is not restricted to bitcoin transactions. Any two parties could use it to exchange other information, including stock deals, legal contracts and property records, within minutes and with no need for a third party to verify it. Backers say it could cut out the middleman and help fight corruption, as the process by which the data is secured makes it virtually impossible to tamper with." The Company also unveiled its new corporate website ( www.btcs.com ) on Tuesday. The new site includes additionalinformation about the importance of blockchain technology and its disruptive application across a diverse array of industries. About BTCS: The blockchain is a decentralized public ledger and has the ability to fundamentally impact, on a global basis, all industries 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.
[Random Sample of Social Media Buzz (last 60 days)]
Federal Agent Investigating Silk Road Admits to Stealing $800,000.00 in Bitcoin via /r/technology http://ift.tt/1KZ7fg5 || Current price: 277.93$ $BTCUSD $btc #bitcoin 2015-08-06 19:00:05 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $9.0E-6 per #reddcoin
22:00:04 || I attacked Robot-lvl 3, and I've earned a total of 32,000 free satoshis! http://www.robotcoingame.com/?id=16tszsT9pdX6EP21RgBqqVmLP5pSHfLMii … #robotcoingame #Bitcoin #FreeBitcoin 00 || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $365.07 #bitcoin #btc || Current price: 277.46$ $BTCUSD $btc #bitcoin 2015-07-17 00:20:03 EDT || $275.39 #bitstamp;
$269.00 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || In the last hour, 9 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || 1 #BTC (#Bitcoin) quotes:
$229.55/$229.79 #Bitstamp
$224.10/$225.02 #BTCe
⇢$-5.69/$-4.53
$229.99/$230.00 #Coinbase
⇢$0.20/$0.45 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.4E-5 per #reddcoin
18:00:01
|
Trend: down || Prices: 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The crypto rich find security in Anchorage: Not the city, the $57 million-funded cryptocurrency custodian startup. When someone wants to keep safe tens or hundreds of millions of dollars in Bitcoin, Ethereum or other coins, they put them in Anchorage's vault. And now they can trade straight from custody so they never have to worry about getting robbed mid-transaction. With backing from Visa, Andreessen Horowitz and Blockchain Capital, Anchorage has emerged as the darling of the cryptocurrency security startup scene . Today it's flexing its muscle and war chest by announcing its first acquisition, crypto risk modeling company Merkle Data . Anchorage Founders Anchorage has already integrated Merkle's technology and team to power today's launch of its new trading feature. It eliminates the need for big crypto owners to manually move assets in and out of custody to buy or sell, or to set up their own in-house trading. Instead of grabbing some undisclosed spread between the spot price and the price Anchorage quotes its clients, it charges a transparent per transaction fee of a tenth of a percent. It's stressful enough trading around digital fortunes. Anchorage gives institutions and token moguls peace of mind throughout the process while letting them stake and vote while their riches are in custody. Anchorage CEO Nathan McCauley tells me, " Our clients want to be able to fund a bank account with USD and have it seamlessly converted into crypto, securely held in their custody accounts. Shockingly, that’s not yet the norm -- but we’re changing that." Buy and sell safely Founded in 2017 by leaders behind Docker and Square, Anchorage's core business is its omnimetric security system that takes out of the equation passwords that can be lost or stolen. Instead, it uses humans and AI to review scans of your biometrics, nearby networks and other data for identity confirmation. Then it requires consensus approval for transactions from a set of trusted managers you've whitelisted. Story continues With Anchorage Trading, the startup promises efficient order routing, transparent pricing and multi-venue liquidity from OTC desks, exchanges and market makers. " Because trading and custody are directly integrated, we’re able to buy and sell crypto from custody, without having to make risky external transfers or deal with multiple accounts from different providers," says Bart Stephens, founder and managing partner of Blockchain Capital. Trading isn't Anchorage's primary business, so it doesn't have to squeeze clients on their transactions, and can instead try to keep them happy for the long-term. That also sets up Anchorage to be a foundational part of the cryptocurrency stack. It wouldn't disclose the terms of the Merkle Data acquisition, but the Pantera Capital-backed company brings quantitative analysts to Anchorage to keep its trading safe and smart. "Unlike most traditional financial assets, crypto assets are bearer assets: In order to do anything with them, you need to hold the underlying private keys. This means crypto custodians like Anchorage must play a much larger role than custodians do in traditional finance," says McCauley. "Services like trading, settlement, posting collateral, lending and all other financial activities surrounding the assets rely on the custodian’s involvement, and in our view are best performed by the custodian directly.” Anchorage will be competing with Coinbase, which offers integrated custody and institutional brokerage through its agency-only OTC desk. Fidelity Digital Assets combines trading and brokerage, but for Bitcoin only. BitGo offers brokerage from custody through a partnership with Genesis Global Trading. But Anchorage hopes its experience handling huge sums, clear pricing and credentials like membership in Facebook's Libra Association will win it clients. McCauley says the biggest threat to Anchorage isn't competitors, though, but hazy regulation. Anchorage is building a core piece of the blockchain economy's infrastructure. But for the biggest financial institutions to be comfortable getting involved, lawmakers need to make it clear what's legal. || Litecoin Soars 100% In Bullish Trade: Investing.com - Litecoin was trading at $420,890.159 by 14:01 (19:01 GMT) on the Investing.com Index on Friday, up 99.99% on the day. It was the largest one-day percentage gain since December 27. The move upwards pushed Litecoin's market cap up to $2.652B, or 1.34% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B. Litecoin had traded in a range of $39.763 to $421,092.541 in the previous twenty-four hours. Over the past seven days, Litecoin has seen a rise in value, as it gained 3.33%. The volume of Litecoin traded in the twenty-four hours to time of writing was $3.185B or 3.93% of the total volume of all cryptocurrencies. It has traded in a range of $39.4474 to $421,092.5313 in the past 7 days. At its current price, Litecoin is still down 0.05% from its all-time high of $421,092.53 set on December 27. Elsewhere in cryptocurrency trading Bitcoin was last at $7,272.5 on the Investing.com Index, down 1.13% on the day. Ethereum was trading at $125.40 on the Investing.com Index, a loss of 2.72%. Bitcoin's market cap was last at $133.207B or 67.09% of the total cryptocurrency market cap, while Ethereum's market cap totaled $13.943B or 7.02% of the total cryptocurrency market value. Related Articles Twitch Users Can Now Tip Streamers With MenaPay Stablecoin Litecoin Jumps 27% In a Green Day Chinese Regulators Worry About Crypto Resurgence, Issue New Warning || Peter Schiff Says He’s Lost His Bitcoin After Wallet Freeze-Out: (Bloomberg) -- Cryptocurrency skeptic Peter Schiff said he can’t access his Bitcoin holdings after his digital wallet stopped accepting his password.
“I just lost all the Bitcoin I have ever owned,” Schiff, chief global strategist at Alliance Global Partners, said in a series of posts on his unverified Twitter account. “My wallet got corrupted somehow and my password is no longer valid.”
In a follow-up post, Schiff said it was “not that great a tragedy” as the Bitcoin were gifted to him.
“My plan was to HODL and go down with the ship anyway,” he said, employing a phrase used to describe holding on to the security. “The difference is that my ship sank before Bitcoin.”
Many Twitter commentators pointed out that the Bitcoin holdings still exist, even if Schiff cannot currently access them. Schiff is also not the first victim of crypto password issues.
Customers lost access to about C$190 million ($145 million) of crypto holdings at digital-asset exchange Quadriga CX last year as access to the firm’s digital wallets was lost with the unexpected death of its CEO.
Schiff, a noted gold bug, is frequently critical of Bitcoin. In a November tweet he claimed marijuana was more useful than the digital currency as “you can smoke pot and get high. You can’t do anything with Bitcoin.”
Bitcoin, the largest digital currency, is often proclaimed by cryptocurrency proponents as “digital gold” and a superior storage of value to the yellow metal thanks in part to its eye-popping gains of more than 9,000,000% since July 2010.
To contact the reporter on this story: Eric Lam in Hong Kong at [email protected]
To contact the editors responsible for this story: Christopher Anstey at [email protected], Adam Haigh, Joanna Ossinger
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©2020 Bloomberg L.P. || Bitcoin should be listed directly on Korea Exchange, says a government committee: The Presidential Committee on the Fourth Industrial Revolution, a group set up by the South Korean government, has recommended that bitcoin should be listed directly on Korea Exchange (KRX), the country’s sole securities exchange operator.
The committee has also suggested allowing cryptocurrency products, such as bitcoin derivatives, in the country, according to areportfrom Business Korea on Monday.
The Korean government has also been advised to consider introducing business licenses or guidelines for cryptocurrency exchanges as it is “no longer possible to stop crypto-asset trade.”
"The Korean government has to gradually allow institutional investors to deal in crypto assets and promote over the counter (OTC) desks dedicated to institutional investors’ trade," said the committee. It has also recommended the government to introduce a Korean custody solution to avoid relying on foreign custodians for the storage of cryptocurrencies, per the report.
South Korea has been taking an increasing interest in the cryptocurrency space. The country's government recentlysaidthat it wants to start taxing residents’ cryptocurrency-related profits. Last week, South Korea's taxation authorityleviedwithholding tax of ~$69.5 million on South Korea's largest cryptocurrency exchange, Bithumb. || Derivatives exchanges in Asia and the U.S. are designed for different types of traders, according to FTX CEO Sam Bankman-Fried: Derivatives markets in Asia and the U.S. cater to different types of customers, said Sam Bankman-Fried, CEO of crypto derivatives exchange FTX. In an episode of The Scoop, Bankman-Fried explained that while derivatives exchanges in Asia like OKEx and BitMEX have a more efficient process for onboarding retail traders, the U.S. market is dominated by regulated exchanges like CME Group and is better suited for traditional Wall Street institutions. Retail traders expect to get set up on an exchange in a very short amount of time, he said, and many regulated exchanges in the U.S. struggle to achieve this. Users would first need to go through a few middlemen to set up an account. They then need to wait a few days for their wire transfers to go through before they can start trading. “It seems very clunky from the perspective of a person trying to do their first trade,” he said. “Whereas with a lot of the Asian exchanges, there is a philosophy that you go to the URL and you have an account in five minutes.” “To the extent you're doing KYC, you can have the bulk of that done in half an hour, and then you can get your funds there within an hour, and then you're fully up and running with exactly the same setup as the most sophisticated player in the industry,” he continued. On the flip side, he said, while regular crypto traders can quickly click through these steps, large corporations are not used to this process and have to spend additional time and energy to conduct due diligence on these Asian exchanges. If institutions like Goldman Sachs want to trade a Bitcoin future on OKEx, for example, they would have to figure out how OKEx's systems works, who would be holding their funds, how to connect to the API, etc. “Some parts of it are fairly risky,” he said. “Whereas if you want to trade a CME product, you already got $15 million sitting with Merrill Lynch or JP Morgan as your clearing firms in an account hooked up to every major traditional exchange.” Story continues Moreover, if institutions want to trade a new CME product, they can simply add the product to their list of tickers and trade it using the same pot of capital in a bank account they use to trade everything else. In sum, according to Bankman-Fried, the two markets are meant to serve two different types of users. “One of the structures is very much designed for crypto-native traders and retail traders to be up and running quickly, and the other is very much designed for Wall Street institutions to be able to easily and seemingly safely interface with,” he said. || Bitcoin Reinforces Latest Rally With Defense of $9,200 Price Support: View Bitcoins defense of the former hurdle-turned-support at near $9,190 has strengthened the case for a continued rally toward higher resistance levels. Longer duration charts are aligned in favor of a move to $10,000. A channel breakdown on the hourly chart would shift risk in favor of a deeper pullback to the 200-day average at $8,900. Bitcoin defended key price support early on Thursday, strengthening the case for another move higher. Having faced rejection above $9,400 multiple times on Wednesday, the top cryptocurrency by market value came under pressure during the Asian trading hours today. Buyers, however, absorbed the selling pressure at $9,188, keeping the former resistance-turned-support intact. Bitcoin had reversed lower from the same $9,188 hurdle on Jan. 14, aborting the short-term bullish view. So as the cryptocurrency bounced up strongly from $8,250 earlier this week, traders wondered whether bitcoin will again fail at $9,188 and form a double-top bearish reversal pattern or cross the hurdle with conviction. Related: Binance US Now Offers Staking Rewards for These Two Cryptocurrencies The latter case won the day and the bulls managed to push prices well above $9,188 on Wednesday, flipping the resistance into support and establishing a new higher high. At press time, bitcoin is changing hands at $9,350, according to CoinDesks Bitcoin Price Index . Hourly chart Bitcoin is moving in a sideways channel on the hourly chart. A move above channel resistance at $9,452 would likely accelerate the recent rally and open the doors to $9,600 (channel range added to breakout price). A violation there would expose the psychological resistance at $10,000. The RSI is no longer reporting overbought conditions and is currently in bullish territory above 50. Related: Bitcoin Eyes Best January Close in 7 Years After 30% Price Increase With the longer duration charts also biased bullish, the odds appear stacked in favor of a range breakout. Should the range be breached to the downside, a deeper pullback to the 200-day average at $8,900 may be seen. Story continues Daily chart BItcoin rose past $9,188 on Wednesday with a positive marubozu candle , indicating that bullish sentiment is quite strong. Further, the five- and 10-day averages are trending north so dips, if any, are likely to be short-lived. A bearish reversal would be confirmed only if prices print a UTC close below $8,213 (higher low created on Jan. 24). Currently, that looks unlikely. Disclosure: The author does not currently hold any digital assets. Related Stories Bitcoin Cracks $9,400 to Reach Nearly 3-Month High in Asia-Driven Rally Bitcoin Rallies to Near $9,150 as Stocks Drop Over Coronavirus Fears || Messaging giant LINE’s crypto exchange Bitbox delisting XRP: Bitbox, the cryptocurrency exchange by Japanese messaging giant LINE, is delisting XRP.
Announcing the news on Monday, Singapore-based Bitboxsaidit is also delisting XRP pairs tied against bitcoin (BTC), ether (ETH) and Tether (USDT). The delisting takes place on Jan. 16.
Accordingly, users will no longer be able to trade and deposit XRP, and they have until Feb. 16 to withdraw their funds.
While Bitbox did not give specific reasons for the move, the exchange said it delists coins when they do not meet its standards based on “performance, reliability, liquidity, or law and regulatory requirements.”
BitBox was launched in July 2018 and is one of the two cryptocurrency exchanges LINE operates to serve its over 80 million users. Japan-based Bitmax is the other exchange that recentlyreceiveda license from the country’s financial regulator. Notably, Bitmax was approved to offer trading services in XRP. || China May Soon Have Its First Blockchain Exchange-Traded Fund: China Securities Regulatory Commission (CSRC), the countrys financial watchdog, has recently received an application for listing an exchange-traded fund (ETF) that will track blockchain-related stocks as underlying assets. Dubbed Penghua Shenzhen Stocks Blockchain ETF, the application was filed by Shenzhen-based asset management firm Penghua Fund and was accepted by the CSRC on Dec. 24 , according to the regulators disclosure. The proposed ETF aims to track and reflect the performance of Shenzhen-listed public stocks that have businesses in the blockchain industry. Related: Chinese Internet Giant Tencent to Launch Digital Currency Research Team Based on a report from Shanghai Securities News on Thursday, if the application received final approval by the CSRC it would be the countrys first completely blockchain-themed ETF open to public investors. The application was received at the same time the Shenzhen Stock Exchange rolled out a Blockchain 50 Index comprised of 50 stocks listed on the exchange that have entered the blockchain space. The Shenzhen exchange said in an announcement on Dec. 24 the index tracks those that are involved in different aspects of the blockchain ecosystem and selects the top 50 by market capitalization. The current index list includes software companies, banks including Ping An Bank, as well as internet companies that entered cryptocurrency mining such as Wholeasy , which invested $80 million in bitcoin miners in 2018. Related: 2020 Vision: 7 Trends Bringing Blockchain Into Focus in the Year Ahead Related Stories Hong Kong Blockchain VC Hires Former NEO Exec to Launch Shanghai Office The Productization of Bitcoin Maximalism || How does Bitcoin’s hash rate impact price?: Recently, cryptocurrency enthusiasts on Twitter have been debating whether the Bitcoin block reward halving event has already been priced in by miners and investors and the impact of a high hash rate on BTC price. When the halving event finally comes around in May, I see two major possibilities: A) BTC increases in price in order to accommodate miners at the current mining difficulty. B) BTC price stays more or less the same and we see miners capitulating as they become unprofitable. To better understand which scenario is most likely to happen, I believe two key data points need to be taken into consideration – namely the hash rate (and expected hash rate) and the behaviour of hodlers. Bitcoin’s hash rate has once again reached new all-time highs , but how does that relate to the amount of Bitcoins that haven’t moved? Will Bitcoin hodlers keep holding during a bull market? At what percentage levels have miners and hodlers sold the majority of their positions? And does the hash rate predict price swings or the behaviour of hodlers? Hopefully, I’ll be able to answer some of these questions below. Hash rate hits new all-time highs CM estimates have Bitcoin's Difficulty increasing by ~8% in 4 days time to reach a new ATH at ~15,000,000,000,000 This is due to the implied hash rate of Bitcoin maintaining ATH levels since Jan 1 pic.twitter.com/MfLOKTJNiK — CoinMetrics.io (@coinmetrics) January 10, 2020 As Bitcoin’s hash rate increases, mining difficulty also increases. That’s exactly what’s been happening with Bitcoin since the beginning of 2020. As estimated by CoinMetrics, a research firm specialising in the cryptocurrency market, Bitcoin’s mining difficulty has been steadily increasing at a rate of 8% over the last four days. The analysis conducted by CoinMetrics shows that in the next four days, Bitcoin’s mining difficulty will reach a record value of approximately 15,000,000,000,000 TH/s. Just as the hash rate is a good measure for price prediction, the difficulty adjustment is also an important data point. Some believe it has some correlation with cryptocurrency price drops and spikes as miners enter and leave the market. The Bitcoin difficulty target adjusts every two weeks to ensure that blocks are added at regular intervals. Therefore, this data point is closely linked to the profit of the miners. Story continues Consequently, the link extends to miner capitulation and the general market price as well. As such, it seems there is a direct correlation between the difficulty adjustment and Bitcoin rallies. At what point do miners sell? Rien ne va plus #bitcoin 🚀 pic.twitter.com/epwODQ40cm — PlanB (@100trillionUSD) September 10, 2019 One of my favourite crypto analysts and the creator of the Bitcoin stock-to-flow model, PlanB, suggested the price of Bitcoin has a tendency to rally during mining difficulty downturns. The analyst revealed that since the creation of Bitcoin, there have been several cycles of difficulty adjustments, and for each new rally, the trend has been one of a declining magnitude. Therefore, I personally believe that during the next bull run, we could see miners and hodlers selling a great deal of their positions when Bitcoin’s price hits between 1,000% to 5,000% above the difficulty bottom. If you’re wondering about “when”, historically we have two periods of price appreciation and two periods of price downfall. Since 2018 and 2019 have been declining years compared to all-time highs, I believe Bitcoin will pump over 2020 and 2021. At what point do hodlers sell? Bitcoin UTXO age distribution Interestingly, for Bitcoin’s price to skyrocket, hodlers need to sell . The graph above, courtesy of Unchained Capital , shows the unspent transaction output (UTXO) of Bitcoin over time. The data shows that during moments of price appreciation, long-term Bitcoin hodlers have a tendency to sell. However, during periods of price decline, long-term hodlers buy BTC . The red, yellow, and orange bands represent the amount of BTC being exchanged. The green and blue bands show the amount of BTC that hasn’t moved for up to five years or more. As you can see, the blue band has been consistently increasing and now accounts for close to 25% of the total BTC supply. This means a great deal of hodlers have been increasing their stacks. While there was some sell-off pressure (the yellow and orange bands) during 2019, it seems buyers are now back in control. To conclude, what the above data shows is crucial to understand when price will most likely appreciate. In my opinion, only when we start to see the blue and green bands increasing between 10-20% will a proper bull run begin. When will that happen? Probably between the end of 2020 and start of 2021. Until the halving, I expect long-term hodlers to continue to accumulate as miners sell their coins to keep farms profitable. Safe trades. The post How does Bitcoin’s hash rate impact price? appeared first on Coin Rivet . View comments || Bitcoin traders openly admit to cashing in on conflict: Opportunist traders admit they want tensions between Iran and the USA to escalate in order to cash in on cryptocurrency price spikes that occur during military conflict. The price of oil and gold rose dramatically within hours of the US airstrike which killed Iranian military leader Qasem Soleimani in Baghdad on January 3. The drone attack also appeared to push the value of BTC upwards from what had been a drawn-out slump to below $7,000. By the time news of the attack fully emerged, Bitcoin had shaken off its post-Christmas hangover and looked set to be building for a challenge on the $8,000 mark. During the following days of military posturing, according to a Coin Rivet exclusive for the Daily Express , the trading volume escalated as investors across the globe began piling savings into cryptocurrency. Bitcoins price at great odds with the trend it had established in the lead up to Christmas continued to build before another lurch skywards in the moments after news broke of Tehrans retaliation in the early hours of January 8. In an instant, BTC was surging to a high of $8,400 a figure many would have seen as impossible only a week earlier. Despite the threat of war and bloodshed, several crypto traders have admitted to cashing in on the conflict with little care for the potential wider consequences of international unrest. Threat of war One such trader known as BT_C_gal on crypto platform BitMEX explained she had no qualms about making money on the back of the threat of war. Im not responsible for the air strikes, Im not launching any missiles, and Im not killing anyone, so I dont see what possible harm Im doing by making a profit out of my positions, said the trader, who purportedly hails from Scotland. Ive been trading in Bitcoin, Ethereum, and Litecoin since 2016 and have a good sense of when and how somethings going to go up or down. Thats just a skill Ive developed and has no bearing on the rights or wrongs of war. Its not as if Im profiteering from conflict, because thats a question you should be asking of arms manufacturers and the interests they hold. Story continues Another trader Vitza5032 wasnt quite so thoughtful on the matter. Instead, the London-based user was keen to express his desire for further conflict. If its making me money I dont care, he said. More bombs, more missiles, more international disruption it all helps me to decide when and where I place my trades and I have no problem with it. The more anarchy and disruption we have, then the more people invest into crypto and that just suits me fine. If Trump and Boris want to start a world war then bring it on. True to form, since last Wednesdays peak, the cryptocurrency markets have mirrored the international narrative. Olive branch As both the US and Tehran offered the glimmer of a veiled olive branch by the weekend, Bitcoins price began to fall. An apparent stepping back from the brink on both sides was matched by a steady decline from $8,300 to below $8,000 before rising and falling again over the last two days during political unrest and civilian protest. Following a weekend of discontent after Iranian officials admitted launching missiles at a Ukraine International Airlines plane that crashed, killing all 176 on board, protestors took to Tehrans Azadi Square. Iranian police have been accused of using live ammunition against the protestors who were appealing for international peace. The protests seemed to see the markets form a steady decline before US President Donald Trump waded in with a tweet to Iran. Donald Trump's tweet about protests Donald Trumps tweet about protests Within the tweet, he wrote
the world is watching. More importantly, the USA is watching in an apparent veiled threat that further military action was not off the table. Bitcoins value rose almost instantly, touching $8,200 before settling again to where it currently stands at around $8,100. The post Bitcoin traders openly admit to cashing in on conflict appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9856.61, 10208.24, 10326.05, 10214.38, 10312.12, 9889.42, 9934.43, 9690.14, 10142.00, 9633.39
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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 2017-10-31]
BTC Price: 6468.40, BTC RSI: 71.95
Gold Price: 1267.00, Gold RSI: 39.98
Oil Price: 54.38, Oil RSI: 69.67
[Random Sample of News (last 60 days)]
JAMIE DIMON: Bitcoin is a fraud that's 'worse than tulip bulbs': (Markets Insider)
JPMorgan CEO Jamie Dimon saysbitcoinis worse than the most famous asset bubble in history.
The cryptocurrency is "worse thantulip bulbs," Dimon said at a Barclays Conference on Tuesday, according to Bloomberg. That's a reference to the arrival and boom of the tulip plant in 17th-century Europe. Its market boomed as people speculated on its price, and it all ended in panic selling.
He added that "it's a fraud" that would eventually blow up.
Bitcoin has rocketed more than 350% this year while exploding in popularity, particularly in Asia. This rally "won't end well," Dimon said.
Most fund managers surveyed by Bank of America Merrill Lynch in September said that betting on its continued rise wasthe "most crowded" trade. Dimon said he would fire any trader that transacted bitcoin for being stupid.
Dimon isn't alone in being skeptical of bitcoin. Robert Shiller, the Nobel-winning author who predicted the housing and tech bubbles, recentlydoubled down on his view that bitcoin is a bubble, telling Quartz it was the "best example right now" of one.
NOW WATCH:Shiller says bitcoin is the best example of a bubble in the market today
More From Business Insider
• Bitcoin slides after Jamie Dimon bashes the cryptocurrency
• Bitcoin is sinking on a report China is going to shut down exchanges
• Bitcoin cash soars above $700 || What’s Going on With Arconic Inc (ARNC) Stock Today?: Arconic Inc (NYSE: ARNC ) shares plummeted Monday following the company’s appointment of a new boss. Arconic Inc (ARNC) Source: Wikipedia Former General Electric Company (NYSE: GE ) executive and industry veteran Charles Blankenship has been hired as the new CEO of the lightweight metals engineering and manufacturing company. He will replace David Hess on January 15. Hess served as the interim CEO since April, replacing Klaus Kleinfeild. “Arconic is a company with significant strengths and tremendous potential,” Mr Blankenship said. InvestorPlace - Stock Market News, Stock Advice & Trading Tips “I am eager to engage with customers, employees and the board to develop plans that capitalise on our strengths, and deliver outstanding returns for our shareholders,” he added. Arconic also unveiled its latest quarterly earnings results , posting third-quarter profit of $119 million, or 22 cents per share, a 28% fall year-to-year. Last year, the company earned $166 million, or 33 cents per share. Excluding one-time items, Arconic’s adjusted earnings were 25 cents per share, below Wall Street’s consensus estimate of 27 cents per share. The company’s revenue was $3.24 billion, a 3% rise year-over-year, and above analysts’ projections of $3.09 billion. For the year, Arconic now predicts it will post sales of $12.6 billion to $12.8 billion, ahead of its previous guidance of $12.3 billion to $12.7 billion. The company added that its full-year adjusted earnings will be between $1.15 and $1.20 per share. Shareholders will vote to reincorporate the company in Delaware, the company said. Arconic currently has its headquarters located in Pennsylvania. ARNC stock slipped 8.3% Monday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post What’s Going on With Arconic Inc (ARNC) Stock Today? appeared first on InvestorPlace . || Subscriber Growth Will Vault Netflix, Inc. (NFLX) Stock Past $200 Following Earnings: The granddaddy of online streaming will join the earnings parade next week, and Netflix, Inc. (NASDAQ: NFLX ) had better be ready for a breakout. Netflix stock is up more than 50% so far this year, and the bull run is showing no signs of slowing down. With better-than-expected results on the way Monday, look for NFLX to top $200 and rally further into all-time high territory. Netflix NFLX stock Source: via Netflix Diving straight into the numbers, Netflix is expected to post a profit of 32 cents per share for the third-quarter more than doubling last years earnings of 12 cents per share in the same period. Whats more, revenue is seen soaring nearly 30% to $2.97 billion. NFLX news over the past couple of weeks has focused on the companys increased content spending plans. Many analysts have cited rising spending as a negative for NFLX stock, but subscriber gains up to this point have more than justified Netflixs business model. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 5 Frightful ETFs to Flee Now Whats more, the company recently announced it was hiking prices to help offset its increased spending plan. The last time Netflix announced a price hike, customers were appalled and a public backlash dogged subscriber growth for more than a quarter. This time around, there was practically no subscriber outcry as subs are finally realizing the value Netflix service provides for the relatively low cost. But U.S. subscriber growth isnt the real driver for Netflix. The company is global now, and international subscriber growth shocked analysts in the second-quarter, prompting a surge in Netflix stock as a result. Third-quarter figures should provide similar results for NFLX shares. Checking in with sentiment, its clear Wall Streets view is shifting. NFLX bears are being squeezed out of their short positions, with short interest plunging 10% in the most recent reporting period. That said, some 26.5 million shares of Netflix stock are still sold short, making up nearly 7% of the stocks total float. A breakout above $200 following earnings could put the nail in the coffin for these remaining short sellers. Story continues There is also room for improvement on the analyst front. According to Thomson/First Call, 17 of the 42 analysts following Netflix stock rate the shares a hold or worse despite the companys strong performance so far this year. Additionally, the 12-month price target for NFLX stock rests at $194.84 a discount to Thursdays close. Look for analysts to lift both their ratings and price targets following another solid quarterly report. Netflix Stock Click to Enlarge Turning to the options pits, we find more lingering Netflix stock price bears. Currently, the October put/call open interest ratio rests at a lofty 1.09, with puts outnumbering calls among those options most affected by Netflixs quarterly report. In fact, most bears are targeting the Oct $170 and $165 strikes both deep out of the money. The only major overhead call strike is the Oct $200 strike, meaning that once NFLX breaks above this area, it could be off to the races. Overall, October implieds are pricing in a potential post-earnings move of about 8.3%. This places the upper bound at $211, while the lower bound rests at $179. Short-term support lies at $190, with additional support in the $180-$185 region, making a dip to $179 unlikely barring any significantly bad news. Meanwhile, resistance could be stout at $200, but a break above this area could see Netflix stock rally well past $211 as pessimism unwinds and shorts rush to cover. Meanwhile, resistance could be stout at $200, but a break above this area could see Netflix stock rally well past $211 as pessimism unwinds and shorts rush to cover. 2 Trades for NFLX Stock Call Spread: For those looking to bet on a breakout to fresh all-time highs for Netflix stock following earnings, an Oct $200/$210 bull call spread has considerable potential. At last check, this spread was offered at $3.03, or $303 per pair of contracts. Breakeven rests at $203.03, while a maximum profit of $6.70, or $670 per pair of contracts a potential return of 103% is possible if NFLX stock closes at or above $210 when October options expire at the end of next week. Forget $5,000. Bitcoin Will Hit $10,000 on This Date Put Sell: Alternately, if resistance at $200 worries you, an Oct $177.50 put sell has a high probability of finishing out of the money. At last check, this put was bid at $1.64, or $164 per contract. As usual with a put sell, you keep the premium as long as NFLX stock closes above $177.50 when October options expire. On the downside, if NFLX trades below $177.50 prior to expiration, you could be assigned 100 shares for each put sold at a cost of $177.50 per share. As of this writing, Joseph Hargett did not hold a position in any of the aforementioned securities. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 5 Can't-Miss Dow Jones Stocks to Buy Today 10 Best Stocks to Buy and Hold for the Next Decade The post Subscriber Growth Will Vault Netflix, Inc. (NFLX) Stock Past $200 Following Earnings appeared first on InvestorPlace . || China hits booming cryptocurrency market with coin fundraising ban: By John Ruwitch and Jemima Kelly SHANGHAI/LONDON (Reuters) - China on Monday banned and deemed illegal the practice of raising funds through launches of token-based digital currencies. The move was targeted at so-called initial coin offerings (ICO) in a market that has exploded since the start of the year. ICOs have become a bonanza for digital currency entrepreneurs, globally and in China, and have provided the fuel for a rapid ascent in the value of cryptocurrencies this year that has driven fears of a bubble that could burst. [L5N1KV4DN] Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People's Bank of China (PBOC), the securities and banking regulators and other government departments that was posted on the central bank's website. In total, $2.32 billion has been raised through ICOs, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Cryptocompare. Bitcoin rival Ethereum, which token-issuers usually ask to be paid in and which has therefore seen unprecedented growth this year, fell sharply on the news, last trading down almost 20 percent on the day at $283, according to trade publication Coindesk. Bitcoin was also down 8 percent, while the total value of all cryptocurrencies was down around 10 percent, according to industry website Coinmarketcap.com. "The large price falls can be attributed to panic amongst traders and profit-taking," said Cryptocompare founder Charles Hayter. The rapid ascent of ICOs prompted the U.S. Securities and Exchange Commission (SEC) to warn in July that some ICOs should be regulated like other securities. Singapore and Canada followed with similar warnings. Zennon Kapron, director of the Shanghai-based financial technology consultancy Kapronasia, said he suspected regulators were putting the brakes on ICOs in order to better understand the phenomenon, but could ease off in the future. "Regulators globally are struggling to understand what ICOs are, what the risks are, and how to ring-fence and regulate them," he said. "China, in many ways, is no different than the U.S. or Singapore in saying, ok, we need to push back on these for now until we figure out how to deal with them...I think it will be slightly a temporary measure." "THE MUSIC HAS STOPPED" By creating and issuing digital tokens, entrepreneurs can raise large sums quickly -- sometimes hundreds of millions of dollars in minutes -- with little or no regulatory oversight. But unlike traditional fundraising, token holders are generally not given any share in the particular project, nor any security. For the buyer, therefore, the main reason for buying these highly risky tokens is often simply a bet that their value will rise. Once the tokens have been issued they can be traded against other cryptocurrencies such as bitcoin, the first successful digital-only currency. The popularity of coin offerings has surged in China this year. In July, the state news agency Xinhua cited data from a government organization that monitors online financial activity to report that there had been 65 ICOs so far during the year raising a combined 2.62 billion yuan ($394.6 million) from 105,000 individuals in the country. Oliver Bussman, previously chief innovation officer at UBS and now president of the Switzerland-based "Crypto Valley Association" that promotes blockchain-based technology, said Chinese authorities had to be especially vigilant about protecting consumers because of the lack of financial advice in the country, compared with Europe or North America. Reaction to the ban was swift online. "The music has stopped," said one member of a chat group on the social networking platform WeChat that was set up last week for an upcoming ICO for a fundraising platform called SelfSell. "Hurry up and sell your bitcoin," said another. The organizer of the ICO project, who recently went on a six-city roadshow, said the project had been suspended. But Bussman said that once there was some regulatory clarity, and once it had been worked out how to classify different types of ICO, the token-based fundraising would continue. "The initial coin offering is a new business model leveraging blockchain technology and it will remain," he said. "This is not the end of the ICO – absolutely not." (Reporting by Jemima Kelly in London, John Ruwitch in Shanghai, Elias Glenn and Beijing Newsroom; Editing by Richard Borsuk and Sam Holmes/Jeremy Gaunt) || CME to launch bitcoin futures in push for currency's wide adoption: By Gertrude Chavez-Dreyfuss and Anna Irrera NEW YORK (Reuters) - CME Group Inc (CME.O), the world's largest derivatives exchange operator, said on Tuesday it will launch a futures contract for bitcoin later this year, marking a major step in the digital currency's path toward legitimacy and helping propel it to a fresh record high. The new contract will be settled in cash, based on the CME CF Bitcoin Reference Rate (BRR), a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on the CME, as it races with rival CBOE Holdings Inc to become the first traditional financial marketplace to offer trading related to the notoriously volatile instrument. "This is going to help tremendously with institutional support as well," said John O'Rourke, president and director of Riot Blockchain Inc (RIOT.O) in Colorado, a Nasdaq-listed company focused on bitcoin and blockchain technology. "That may help manage the volatility. I know that some institutionals see that as a hiccup." Bitcoin jumped to an all-time high above $6,400 (4,821.82 pounds)on the BitStamp exchange after the CME news. It was last at $6,358.85 (BTC=BTSP), up nearly 4 percent, and has shot up more than six-fold this year. The massive bitcoin rally has created a divide on Wall Street about whether it is a legitimate financial instrument and whether the industry's heavyweights ought to have a hand in trading or making markets in it. Some crypto-currency exchanges have been hit by fraud and deception, a Reuters special report showed last month. Indeed, CME President Bryan Durkin told Bloomberg in September that he did not think the group would move forward in the near term with a bitcoin futures contract. But apparently demand for a contract was too strong to ignore. "Given increasing client interest in the evolving crypto-currency markets, we have decided to introduce a bitcoin futures contract," Terry Duffy, CME group chairman and chief executive officer, said in a statement announcing the contract's launch. Story continues BLOCKCHAIN THE MAIN FOCUS - UNTIL NOW Many large financial institutions support the use of blockchain, the technology underlying crypto-currencies, to improve back office processes. Yet some bankers oppose doing business with actual crypto-currencies that are not backed by national governments and have been involved in scandals. In September, JP Morgan Chase & Co (JPM.N) Chief Executive Jamie Dimon called bitcoin a fraud and said he would fire any traders at his bank who touched bitcoin. Meanwhile the CEOs of Goldman Sachs Group Inc (GS.N) and Morgan Stanley (MS.N) said the crypto-currency could be worth considering. Others like CME see crypto-currencies as a business opportunity. Rival exchange group CBOE has applied with U.S. regulators to launch a bitcoin futures contract and a bitcoin exchange traded fund on its venues. "There are lot of people who want to participate in bitcoins and the blockchain technology so it should be well-received," said Greg Adamsick, director of global futures and options at RCM Alternatives in Chicago. "This should make it more comfortable for people to hold (bitcoin)," he added. Still, simply launching a futures contract does not guarantee it will ever get traction. The list of failed contracts offered by U.S. futures exchanges includes apples, potatoes, shrimp, and turkey futures, as well as contracts tied to inflation, and futures contracts tied to specific stocks. Since November last year, CME Group and UK-based bitcoin futures exchange Crypto Facilities Ltd have calculated and published the BRR, which consolidates the trade flow of major bitcoin spot exchanges during a calculation window into the U.S. dollar price of one bitcoin as of 4:00 p.m. London time. Crypto-currency exchanges Bitstamp, GDAX, itBit and Kraken currently contribute prices for calculating the BRR. (Reporting by Gertrude Chavez-Dreyfuss and Anna Irrera; Additional reporting by Richard Leong in New York and Ann Saphir in Chicago; Editing by David Gregorio, Dan Burns and Frances Kerry) || What Hard Fork? Ether's Price Is Climbing Ahead of Tech Upgrade: Ether prices are up 11 percent so far today, indicating increasing market confidence that ethereum may sail through its next big upgrade. The "Byzantium" code, which is a part of the larger upgrade called " Metropolis ," will be enforced this Sunday via a hard fork of the ethereum blockchain. Though past hard forks have been mostly smooth, an emergency hard fork last year saw some continue to mine the old blockchain, creating a new asset, ethereum classic, and some users and firms lost funds in the event. So far, however, developers have indicated that they are confident the hard fork will be activated without issue and traders seem to agree. At press time, ether is trading at around $340 levels. Week-on-week, the cryptocurrency is up 10.7 percent, while month-on-month, ether is enjoying 23 percent gains. The price action analysis suggests ether could scale new multi-week highs and possibly extend the rally up to the September high ahead of the hard fork . Daily chart The daily chart shows that: The upside break of the sideways channel (i.e. consolidation ends with a strong upside move) signals continuation of the rally from the Sept. 15 low of $298.29. The bullish break on the relative strength index (RSI) validates the bullish break on the price chart. All major averages 50-MA, 100-MA and 200-MA are perfectly aligned one below the other in favor of the bulls. View Ether looks set to test September high of $396 in the short run. On the downside, only a break below the 50-day moving average level of $307 would abort the bullish view on the daily chart. Tuning fork image via Shutterstock Related Stories Bitcoin's Price Keeps Rising, But Is $6,000 in Reach? No Token Response: UNICEF Is Open to Doing Its Own ICO History Repeated? Confidence High Ethereum Will Avoid Blockchain Split $5,800: Bitcoin Price Hits New Record High || Prince Alwaleed says bitcoin will implode: 'Enron in the making': Saudi billionaire investorPrince Alwaleed bin Talalsaid Monday thatbitcoinwill "implode" one day.
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision" of any central bank, Alwaleed said in an interview on CNBC's "Squawk Box."
"I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making," Alwaleed said.
The billionaire investor was referring to the massive accounting fraud that took Enron, a U.S. energy-trading and utilities giant, into bankruptcy in late 2001.
Alwaleed runs Kingdom Holding, a massive conglomerate whose investments includeCitigroup,AppleandTwitter. The company is based in Riyadh, Saudi Arabia.
Digital currency bitcoin has surged about 500 percent this year andhit an all-time high above $6,100 on Saturday. Bitcoin traded 2 percent lower around $5,847 Monday, according toCoinDesk.
Bitcoin has shaken off an August split into bitcoin and bitcoin cash, and a Chinese crackdown in September on digital coins.
The massive gains are fueled by growing interest from some institutional investors and Japanese investors. Trading in Japanese yen accounted for about 62 percent of total bitcoin trading volume Monday, according to industry website CryptoCompare. Trading in U.S. dollars accounted for roughly 21 percent, the site showed.
But most major investors remain skeptical of bitcoin.
Alwaleed said Monday he agrees with JPMorgan Chase CEO Jamie Dimon, who last month called bitcoin a"fraud" that will eventually blow up.
BlackRock CEO Larry Fink has also called the digital currency an"index of money laundering"for its ability to facilitate illegal commerce on the internet.
However, JPMorgan and other financial institutions are investing in blockchain, the technology that enables bitcoin to transfer value nearly instantly without a third-party intermediary.
The development of digital currencies has also spawned the growth of token sales, or initial coin offerings, which have taken off this year. The coin sales have raised $3.04 billion, according to financial research firm Autonomous Next.
Jordan Belfort, the infamous "Wolf of Wall Street" penny stock broker, told The Financial Times in an interview published Sunday that initial coin offerings are the"biggest scam ever."
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• US LimeBike rivals Chinese unicorns to capture the bike-sharing market || Bitcoin Price Falls 2.5%: Bitcoin price falls 2.5% Investing.com - The price of the digital currency bitcoin fell around 2.5% on Tuesday, retreating after hitting its highest level in five weeks the previous day. On the U.S.-based Bitfinex exchange, Bitcoin was trading at $4,295.20 by 05:53 AM ET (06:53 GMT), down 2.55%, having opened at $4,110.00. Prices hit a high of $4,482.00 on Monday, the most since September 8. Bitcoin prices have rebounded after slumping in mid-September when Chinese authorities announced a ban on trading cryptocurrencies in the country, but have yet to regain the $4,500 level. Regulators and traditional banks are increasingly concerned about the risks of fraud and money laundering in the cryptocurrency space. China used to account for the majority of bitcoins overall trading volume, but now makes up less than 15% of the total amount. At current prices, bitcoin has a total market capitalization of around $71 billion. Elsewhere, the price of bitcoin offshoot Bitcoin Cash was also lower. It was last at $402.51, having opened at $420.88. Bitcoin cash has a total market cap of around $6.7 billion at current prices, making it the fourth most valuable cryptocurrency. Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was down 2.77% to $288.34. Related Articles Bitcoin Price Falls 2.5% Bank-backed R3 launches new version of its blockchain Bitcoin pares gains, Ethereum adds to losses || China bitcoin exchanges awaiting clarification on closure report: BEIJING (Reuters) - China's Bitcoin exchanges said on Saturday they are still awaiting clarification from the authorities on a media report that they will be shut down. Bitcoin fell sharply on Friday after Chinese financial publication Caixin reported that China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. The news follows China's move earlier this week to ban so-called "initial coin offerings," or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects. Reuters was not immediately able to verify the report. A spokeswoman for Beijing-based OK Coin said the platform has not received any notification from regulators. Spokespersons at Beijing-based Huobi and Shanghai-based BTCC said they were still waiting for further official clarification. (Reporting by Brenda Goh, Writing by Kevin Yao; Editing by Shri Navaratnam) || Microsoft Corporation (MSFT) Q1 2018 Earnings Top Expectations: Microsoft Corporation (NASDAQ: MSFT ) posted its first-quarter results after the bell Thursday. Microsoft Corporation Source: Shutterstock The tech giant kicked off its fiscal 2018 with an impressive three months, including earnings of 84 cents per share on an adjusted basis. Analysts polled by Thomson Reuters were calling for earnings of 72 cents per share, on an adjusted basis. Microsoft also unveiled revenue of $24.54 billion, which was nearly $1 billion more than the $23.56 billion that Wall Street had projected, according to Thomson Reuters. InvestorPlace - Stock Market News, Stock Advice & Trading Tips One of the most notable achievements of the quarter was to top the company’s goal of a $20 billion in annualized revenue run rate for its commercial cloud business. This includes the Azure cloud, subscriptions of Office 365, as well as Dynamic 365 apps for customer relationship management and enterprise resource planning. The figure came in at $20.4 billion for the quarter. Another strong point was Microsoft’s Surface hardware revenue, which surged 12% for the quarter after the Surface Laptop was introduced in June. Search ad revenue increased by 15% thanks to higher search volume, as well as more revenue per search. A weaker point in the quarter was gaming revenue, which slipped 1%, ahead of the launch of the Xbox One X on Nov.7. Microsoft predicts that it will bring in 83 cents per share in earnings for its current quarter on an adjusted basis. Meanwhile, revenue is slated to come in at $28.15 billion. MSFT stock grew 3.7% after hours. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Walt Disney Co (DIS) Stock Is Due for a Big Turnaround The post Microsoft Corporation (MSFT) Q1 2018 Earnings Top Expectations appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
Amazing !! @Bitcoin @BTCTNpic.twitter.com/ImKT7YYkXi || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || Fastest Fee: 128 sat/byte
Hour Fee: 105 sat/byte
Day Fee: 0 sat/byte || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || 10 Eylül 2017 Saat 01:00:27, 1 Bitcon Kaç Lira Eder, 14.602,60 TL. #BTCTL #BTCKacTL #bitcoin #bitcoindeğerihttp://www.doviz724.com/1-bitcoin-kac-tl.html … || #bitcoin non si ferma più? Analisi tecnica || RT @LoreleiSkover: #бизнес #государство #деньги #ICO #блокчейн #криптовалюта #инвестиции #Bitcoin #Ethereumhttps://forklog.com/bitfury-biznes-i-gosudarstvo-ne-gotovy-polnostyu-perejti-na-detsentralizovannye-platformy/ … || #bitcoin non si ferma più? Analisi tecnica || #bitcoin non si ferma più? Analisi tecnica
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Trend: down || Prices: 6767.31, 7078.50, 7207.76, 7379.95, 7407.41, 7022.76, 7144.38, 7459.69, 7143.58, 6618.14
|
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 2022-09-07]
BTC Price: 19290.32, BTC RSI: 35.41
Gold Price: 1715.30, Gold RSI: 41.17
Oil Price: 81.94, Oil RSI: 33.74
[Random Sample of News (last 60 days)]
Which Growth Stock Looks Most Promising Despite Near-Term Headwinds?: The shift to safer bets amid high inflation and other macro challenges significantly pulled down several growth stocks this year. Most of these growth stocks were trading at sky-high valuations after gaining immensely from pandemic-induced tailwinds. Just when several analysts felt that growth stocks had bottomed out and were poised to rebound, Federal Reserve Chair Jerome Powells gave a speech at the Jackson Hole symposium. His speech raised concerns about the fate of growth stocks in the near term. Powells comments made it clear that the Fed would aggressively hike interest rates to tame inflation. The Feds measures to tackle inflation might push the U.S. economy into a recession. Nonetheless, some investors are looking beyond the turmoil to pick growth stocks that are trading at attractive valuations and have lucrative long-term growth potential. Using the TipRanks Stock Comparison tool , I placed the following stocks against each other to pick the growth stock that Wall Street is most bullish about despite macro challenges. InvestorPlace - Stock Market News, Stock Advice & Trading Tips SHOP Shopify $30.69 TDOC Teladoc Health $30.26 SQ Square $66.79 Shopify (SHOP) Shopify (SHOP) on the phone display. Source: Burdun Iliya / Shutterstock.com Shopify (NYSE: SHOP ), which enables merchants to set up an online store, benefited from accelerated e-commerce adoption in the early days of the Covid-19 pandemic. However, a slowdown in e-commerce trends after the economys reopening and the impact of inflation on consumer spending hurt Shopifys performance over recent quarters. Shopify posted an adjusted loss per share of 3 cents in the second quarter of 2022. Its revenue grew 16% to $1.3 billion, reflecting a deceleration compared to the 22% growth in the first quarter. Given the persistent headwinds, Shopify expects to post an adjusted operating loss in the second half of the year. However, the company continues to invest in tools that would attract more merchants to its platform over the long term. This includes the Shopify Fulfillment Network (SFN), Shopify Payments, Shopify Editions and Shopify Markets. Story continues Recently, Atlantic Equities analyst Kunaal Malde upgraded Shopify stock to a buy from a hold with a price target of $46. Malde believes that Shopifys market-leading product innovation will help it gain additional share of e-commerce volumes. It will also help in enhancing the companys take rate. Malde added , GMV estimates are now seemingly more conservative for Shopify than most peers, so we now see upside to consensus following the recent reset. Valuation remains relatively high but no longer assumes success of SFN, in our view. Overall, Wall Street analysts are cautiously optimistic on Shopify stock. The stock has a moderate buy consensus rating based on 12 buys and 14 holds. The average price target of $43.02 for SHOP stock implies 37.6% upside potential from current levels. Teladoc Health (TDOC) The Teladoc logo through a magnifying glass. Source: Postmodern Studio / Shutterstock.com Teladoc Health (NYSE: TDOC ) gained from the demand for virtual healthcare amid pandemic-induced mobility restrictions and lockdowns. However, dismal performance following the reopening of the economy has raised concerns about the companys path to profitability. Despite tough year-over-year comparisons, Teladocs Q2 revenue increased 18% to $592.4 million and beat analysts expectations. However, investors were spooked by a $3 billion goodwill impairment charge in Q2. Thats on top of the $6.6 impairment charge booked in the first quarter. Teladocs Q2 performance triggered rating downgrades by several analysts. Most recently, Guggenheim analyst Sandy Draper downgraded TDOC stock to a sell from hold. Draper believes that Teladocs top line will remain under pressure due to multiple factors, including a tough macro backdrop that is elongating sales cycles in enterprise decisions. In contrast, D.A. Davidson analyst Robert Simmons initiated coverage on Teladoc stock with a buy rating and a price target of $45. Explaining his bullish stance, Simmons stated, We believe Teladoc has established itself as the leader in telehealth , with operational scale and a completeness of offerings that allow it to offer differentiated service to customers. Despite certain regulatory barriers, Simmons is optimistic about further penetration of telehealth, which bodes well for Teladoc. All in all, analysts are sidelined on Teladoc stock, with a hold consensus rating based on five buys, 15 holds and one sell recommendation. At $38.22, Teladocs average price target implies 24.1% upside potential from current levels. Block (SQ) Block logo over a background with former square logo. SQ stock. Source: Sergei Elagin / Shutterstock Block (NYSE: SQ ) stock has declined significantly this year as investors are concerned about the impact of a potential recession on the financial technology (fintech) firms performance. The companys results in the first half of this year were adversely impacted by a notable slump in Bitcoin ( BTC-USD ) revenues. Blocks second-quarter revenue declined 6% to $4.4 billion and adjusted earnings per share ( EPS ) fell 63% to 18 cents. The companys top line was impacted by a 34% decline in Bitcoin revenue amid the so-called crypto winter. Block recorded a $36 million Bitcoin impairment loss in the quarter. Meanwhile, gross payment volume (GPV) grew nearly 23% to $52.5 billion. Block has scaled back its planned investments for 2022 by $250 million amid tough business conditions. That said, the company continues to believe in further expansion of its Square and Cash App ecosystems along with the strong growth potential for Afterpays (acquired earlier this year) buy now, pay later platform. BTIG analyst Mark Palmer is optimistic about Blocks long-term prospects and reiterated a buy rating, with a price target of $175 following the Q2 results. Palmer believes that the accelerated adoption of the Cash App ecosystem (Blocks peer-to-peer payments system, which also includes Bitcoin revenues) amid the pandemic was a game-changer for the company. Palmer also highlighted the continued growth of the Square ecosystem (the seller or merchant side of Blocks business) in the domestic market and its attractive prospects in international markets. Indeed, Block is focused on boosting the footprint of its Square ecosystem. It launched 44 products across international markets in the first half of this year. Overall, Block scores a strong buy consensus rating based on 26 buys, six holds and one sell recommendation. The average price target of $112.97 implies 68.2% upside potential. To conclude, analysts are treading cautiously with regard to Shopify amid a slowdown in e-commerce trends and consumer spending. Meanwhile, Wall Street is on the sidelines when it comes to Teladoc stock due to near-term headwinds. However, most of the analysts covering Block are optimistic about the companys long-term prospects in the fintech space. Analysts estimate a higher upside potential in SQ stock compared to the other two growth stocks. On the date of publication, Sirisha Bhogaraju 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 . Sirisha Bhogaraju has over 15 years of experience in financial research. She has written in-depth research reports and covered companies across various sectors, with a primary focus on the consumer sector. Sirisha has a masters degree in finance. 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 Which Growth Stock Looks Most Promising Despite Near-Term Headwinds? appeared first on InvestorPlace . || Crypto-Themed Twinkies — the Only Sweet Spot in the Market Right Now?: Sure, the crypto investments that last year may have taken you to Paris, France, will now only get you to Paris, Texas, but that hasn’t stopped the venerable Hostess Twinkie from jumping on the crypto bandwagon with the launch of the $TWINKCoin. Now despite that dollar sign in front of the word TwinkCoin — Twitter code for a cryptocurrency exchange symbol, à la $BTC — it is not, in fact, a cryptocurrency, and you can’t buy anything with it, other than the love of your nephews and your dog — and possibly a trip to Weight Watchers. The TWINKCoin is, in fact, a limited edition “coin-shaped, golden sponge cake” full of cream according to Hostess Brands, whose PR folks were able to confirm that this is actually, in fact, a real thing. Although we’d argue that it is a little more hockey-puck-shaped than coin-shaped. As for why, well, Hostess said in a recent release that “cryptocurrency has generated a lot of headlines and discussion lately. So, Hostess Twinkies decided it was time to launch its own ‘currency’ that delivers a very tasty return.” This seems a bit out of date considering that those headlines — particularly outside of crypto industry news outlets — have been pretty much all negative, with bitcoin and many other cryptocurrencies down 70% or more since November. In June, blockchain analytics firm Glassnode found that slightly more than half of all bitcoin owners were in the red, and on July 4 announced “the expulsion of bitcoin tourists.” See also: Following Crypto Crash, Search for the Bottom Begins in Earnest Another hint that Hostess’ marketing team isn’t too up-to-date was its reference to stablecoins: “$TWINKcoin is a currency with a stable value — it’s always delicious!” That would be $3.49 per box. Stablecoins’ reputation took a big hit during a week-long run in May, taking $48 billion and a fair bit of the dollar-pegged tokens’ credibility as a secure, long-term payments solution with it. Read more: SEC Investigates TerraUSD Marketing Story continues Wait, no NFTs? $TWINKCoins aren’t Hostess’ first co-branding launch — there were X-Men Twinkies in 2014 and Ghostbusters-themed Key Lime Slime Twinkies in 2016 as movie tie-ins — but it does seem to be the first new shape. Nor is the current run a completely out-of-left-field marketing decision. Thanks to the color of the fur of memecoin Dogecoin’s Shiba Inu dog mascot, Doge Twinkies are a meme in their own right, attracting 589,000 results on Google. Still, crypto marketing has been much more focused on non-fungible tokens (NFTs), the metaverse and, lately, Web3, despite the NFT market’s own recent collapse. Which hasn’t stopped brands ranging from Balenciaga and McDonald’s to the Care Bears from jumping onboard the somewhat wobbly bandwagon: Only today (July 13) pro skateboarding legend Tony Hawk landed in The Sandbox’s crypto metaverse with a virtual skatepark and a collection of NFT avatars. Hostess, however, has not launched an NFT collection. See more: Since When Is Dropping an NFT Care Bears Collection a Web3 ‘Strategy’? Hostess is far from the first food-related crypto marketing tie-in. There’s the Dogeburger restaurant in Dubai and Welly, an Italian restaurant chain that partnered with the developer of Shiba Inu ($SHIB), a memcoin spin-off of Dogecoin. And yes, of course, there are NFTs . Which is not always a guarantee of crypto payments’ success. Los Angeles’ Bored Ape Yacht Club NFT-themed restaurant Bored & Hungry last month announced that it had stopped accepting crypto payments as customers “did not seem to care.” See here: LA Restaurant Themed on Bored Ape NFT No Longer Accepts Crypto For all PYMNTS Crypto coverage, subscribe to the daily newsletters . || Crypto platform Zipmex to start releasing Bitcoin, Ether for customers: BANGKOK (Reuters) - Crypto exchange Zipmex will release Ethereum and Bitcoin tokens from this week, a spokesperson said on Monday, allowing 60% of its customers to retrieve their digital assets after a suspension of withdrawals from its Z Wallet product. The Singapore-based Zipmex, which also operates in Thailand, Australia and Indonesia, in July halted withdrawals from Z Wallet, which it said had $53 million worth of cryptocurrencies exposed to Babel Finance and Celsius. Ethereum will be released on Thursday and Bitcoin on Aug. 16, the company said. Last week it allowed digital coins XRP, ADA and SOL to be withdrawn. Zipmex late last month said it was in talks with investors for potential funding. The Thai Securities Exchange Commission on Saturday said it was collecting further information on affected customers and was working with customer representatives on the issue. (Reporting by Chayut Setboonsarng; Editing by Martin Petty) || GLOBAL MARKETS-Wall Street muted on mixed inflation messages: (Updates to U.S. market close)
* U.S. stocks flat following Friday sell-off
* Treasury yields tick down
* Oil up nearly 2%, off multi-month lows
By Lawrence Delevingne
Aug 8 (Reuters) - Wall Street stocks were mostly flat on Monday, the dollar weakened and U.S. government bond yields fell as investors weighed mixed messages on inflation and how aggressive the Federal Reserve might be in combating it.
The Dow Jones Industrial Average rose just 0.09% on the day, while the S&P 500 lost 0.12% and the Nasdaq Composite dropped 0.1%
Of note was Nvidia Corp, whose stock declined around 6% after the chip designer warned on Monday that its second-quarter revenue would drop by 19% from the prior quarter on weakness in its gaming business.
The broad Euro STOXX 600 finished up around 0.75% on Monday, led by cyclical and growth stocks, helping it recover losses from Friday. But the MSCI world equity index , which tracks shares in 47 countries, added just 0.15%.
"With labor market strength, the threat of a recession seems remote, but concerns over how aggressive the Federal Reserve could be hovers over the market," Quincy Krosby, chief global strategist for LPL Financial, said in an email.
Indeed, higher interest rates remained in focus for investors.
Unexpectedly strong U.S. jobs data last week raised the stakes for the July U.S. consumer prices report due on Wednesday, which could see a further acceleration in inflation — and more aggressive Federal Reserve interest rate hikes.
Business investment appeared to be an early victim of rising prices and rates, according to new U.S. government data.
At the same time, U.S. consumers' expectations for where inflation will be in a year and three years dropped sharply in July, a New York Federal Reserve survey showed on Monday, a win for policy makers.
On Monday, benchmark 10-year note yields fell to 2.751%, after getting as high as 2.869% on Friday, the highest since July 22. Two-year yields were last at 3.211%, after reaching 3.331% on Friday, the highest since June 16.
'OTHER SIDE OF THAT MOUNTAIN'
"The rise in inflation and the Fed's reaction to it has been a real headwind for valuations this year," Morgan Stanley strategists wrote in a note on Monday. "However, it's also been a tailwind for earnings. Now, we are on the other side of that mountain, and operating leverage is rolling over likely more than the consensus expects."
Fed funds futures traders are now pricing for a 67.5% chance of another 75 basis point rate increase in September, and for the Fed funds rate to rise to 3.65% by March, from 2.33% now.
"We see inflation staying above the Fed’s 2% target through next year," BlackRock Investment Institute strategists wrote in a note on Monday. "We think the Fed will keep responding to calls to tame inflation until it acknowledges how that would stall growth."
In foreign exchange markets, the U.S. dollar dipped around 0.2% versus a basket of six major currencies to 106.4, giving up some gains after strengthening on the jobs boom and the jump in yields.
Analysts remained bullish on the U.S. currency's prospects.
"Data like this will further any thoughts about 'U.S. exceptionalism' and is very positive for the USD against all currencies," said Alan Ruskin, global head of G10 FX strategy at Deutsche Bank, referring to the U.S. jobs statistics.
The euro declined slightly to $1.019.
Bitcoin and other cryptocurrencies, which tend to act as a barometer for risk appetite, gained. Bitcoin was last up 3.25% at $23,942.
Gold broke higher on Monday as the dollar and Treasury yields retreated. Spot gold rose 0.8% to $1,788 per ounce, after dropping 1% in the previous session. U.S. gold futures were 0.76% higher at $1,786.
Oil prices rebounded some on Monday but were still near their lowest levels in months in volatile trading as positive economic data from China and the United States spurred hopes for demand growth despite recession fears.
U.S. crude recently rose 1.79% to $90.59 per barrel and Brent was at $96.40, up 1.59% on the day.
(Reporting by Lawrence Delevingne in Boston, Tom Wilson in London and Wayne Cole in Sydney; Editing by Jane Merriman, Peter Graff and Lisa Shumaker) || Bybit Partners With Circle, Plans to Launch USDC Spot Pairs and Offer Integrations for Clients: Bybit Partners With Circle
LONDON, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Bybit, the third largest crypto derivatives exchange in the world by volume, has partnered with Circle Internet Financial, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin (EUROC) to help accelerate the growth of Bybit as a gateway for retail and institutional USDC-settled products.
Bybit aims to become a one-stop gateway for USDC-settled options. The Exchange’s market-beating liquidity is matched with features such as portfolio margin, which lowers margin requirements on hedged positions, and unified accounts that accept BTC/ETH/USDT/USDC as collateral. Under the agreement, Bybit will expand their USDC spot pair listings, support further awareness for USDC and related products and look to collaborate on other potential initiatives. As a leading exchange for emerging digital asset classes, Bybit’s partnership with Circle is aimed at promoting greater crypto adoption and utility. Earlier this year, Bybit introduced USDC options — the first stablecoin-margined option contract in the market — with the exchange pledging to make Ether and Solana options available soon.
As part of its commitment, Bybit will leverage its experience and expertise in the operation of its leading crypto exchange to develop and promote products that support the growth of USDC, such as spot trading, perpetual contracts, and options. Bybit will also enable instant, auto-conversions between USD and USDC (or other Circle-issued stablecoins).
“We have been building throughout the bear market, and have found USDC to be an excellent fit for our operations,” said Ben Zhou co-founder and CEO of Bybit at the partnership launch event held at Vicinity London. “After the success of our USDC options, it was opportune to further develop our working relationship with Circle, which has a reputation for openness and integrity in their services and development of cutting-edge financial technology. We look forward to offering more USDC spot pairs and products to our retail and institutional clients.”
“Over the last year, Bybit has ceaselessly delighted users of USDC with the continued expansion of their innovative product offerings,” said Jeremy Allaire, co-founder and CEO of Circle. “We are thrilled to have Bybit onboard as a partner in our efforts to promote greater access and adoption for USDC.”
About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is powering always-on internet-native commerce and payments and is the issuer of USD Coin (USDC) and Euro Coin (EUROC). Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of financial value. Learn more athttps://circle.com.
About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
For media inquiries, please contact:[email protected]
For more information please visit:https://www.bybit.com/
For updates, please follow Bybit's social media platforms onDiscord,Facebook,Instagram,LinkedIn,Reddit,Telegram,TikTok,TwitterandYouTube.
A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/8b617098-b9bd-4e7b-9369-0a635cbeaefb || 4 Stocks to Sell Before They Plummet: There will always be ups and downs when it comes to stocks. But sometimes, the downturn can be more severe than usual. Knowing which stocks to sell during a downturn is important to save your portfolio.
Deciding which stocks to sell can be difficult. You need to watch the general market trend as well as individual companies. If a particular stock is underperforming against the market as a whole, then it’s likely not a good investment. Finally,listen to what the expertsare saying. If analysts recommend that you sell a particular stock, then it’s probably best to follow their advice.
Following these tips can help ensure your portfolio weathers the storm during a downturn.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
These four stocks to sell have not been doing well so far in 2022 and therefore, they are stocks to sell if you want to avoid unnecessary risk.
[{"XRX": "KSS", "Xerox": "Kohl\u2019s", "$18.58": "$29.89"}, {"XRX": "TDOC", "Xerox": "Teladoc", "$18.58": "$32.90"}, {"XRX": "HE", "Xerox": "Hawaiian Electric", "$18.58": "$42.75"}]
Source: Jonathan Weiss/ShutterStock.com
Xerox(NASDAQ:XRX) is down 18% this year mainly because of the broader work-from-home trend. Xerox’s main product is photocopiers, and with more people working remotely, there is less need for copies. This has led to a drop in Xerox’s stock price and fewer sales for the company.
Xerox is not the only company affected by the work-from-home trend;other companies that make office supplieshave also seen a drop in sales. However, Xerox is one of the most affected because its main product is no longer as necessary as it once was. Xerox is trying to adapt to this new trend by expanding its services. It will be interesting to see how this strategy works out.
A recent study by Mercerfound that more than 75% of companiesplan to adopt the hybrid work model. As a result of Covid-19, many businesses have to reevaluate their office space needs. For employees, working from home is becoming the new normal. The hybrid model offers businesses a way to accommodate these new preferences while maintaining a presence in the office.
In addition, moving away from paper and toward digital documents is one reason sales have decreased in recent years. A glance at the office supply sections of any store will show you proof enough. Combining these two factors leads to a pessimistic outlook for Xerox, which is why it is one of the best stocks to sell.
Source: Sundry Photography/Shutterstock.com
Kohl’s(NYSE:KSS), once a stalwart in the retail world, has been slowly declining in recent yearsas people move onlinefor their shopping needs. The pandemic has only accelerated this trend, as people are now even less likely to go into brick-and-mortar stores. The retail apocalypse is real, and Kohl’s is one of its many victims.
The retailer’s quarterly earnings disappointed Wall Street recently, with revenuesfalling to $3.72 billion versus $3.89 billionin the year-ago period. Its net income came in at $14 million, or 11 cents per share, versus $14 million, or 9 cents per share, last year. Kohl’s has updated its expectations for 2022 earnings to a range of $6.45-$6.85 vs. the prior forecast of $7.00-$7.50. It also slashed its forecast for revenue and now expects growth to be flat to up 1% year over year.
Withinflation rates up significantly, retailers are struggling with expenses such as wages and logistics. Indeed, businesses across America are starting to see consumers buying less than usual as they feel the effects of inflation. Kohl’s haspublicly said that it expectsthis trend to continue.
Kohl’s is alsocurrently under firefrom activist hedge fundMacellum Advisors. The company has been targeted for change in ownership and a reshuffling of the board of directors. These developments are challenging when the business needs stability most desperately — not only financially but also organizationally speaking, with all eyes on CEO Michelle Gass as she tries to turn around one of the oldest retailers in America.
Source: Postmodern Studio / Shutterstock.com
Thebroader market slumphas hit several companies hard.Teladoc(NYSE:TDOC), the virtual healthcare company, has suffered significant damage, falling more than 60% this year. And it is not giving investors any reasons for a course correction.
Teladoctook a big hitin the second quarter, recording a goodwill impairment charge of $3 billion as part of its disappointing $19.22-per-share loss. This compares to one year ago when it had no such impairment and 86 cents per share in earnings instead. Second-quarter revenue was only 18% higher than the previous year, but adjusted EBITDA was 30% lower.
It is no surprise that Teladoc’s earnings have been dramatically revised down. The company was previously forecasting a loss of $43.50 per share. But now, it’santicipating a net loss per sharein the range of between $61 -$62.
Teladoc’s revenue growth has been slower than expected because of the current economic situation. The company has been struggling to maintain profit growth. Share prices will likely remain depressed for some time as there is no sign of an impending turnaround, with the recent market volatility only adding more fuel to this fire. Considering these factors, Teladoc Health is one of the stocks to sell since it has the potential to fall even further.
Source: shutterstock.com/Casimiro PT
Hawaiian Electric Industries(NYSE:HE) is the biggest energy company in Hawaii. It has numerous subsidiariesserving approximately 95%of Hawaii’s needs.
The company’s regulated subsidiaries include Hawaiian Electric Company, Maui Electric Company, and Hawaii Electric Light Company. In addition to its utility operations, Hawaiian Electric Industries also owns American Savings Bank, one of the largest financial institutions in both Hawaii and the country.
Despite its rich history, Wall Street analysts are not convinced regarding its immediate future. Panic selling has been rampant in the markets lately, but HE shares have held their value relatively well. The rally has left the stock with very little upside.
In addition, Hawaiian Electric Industries is a special company because it has 100% exposure to Hawaii. It is a double-edged sword. On the one hand, Hawaiian Electric is attractive because it has gained substantial experience concerning Hawaii’s culture and inhabitants. On the other, its lack of diversification may be a liability because of over-exposure.
According toCNNdata, Hawaiian Electrichas a consensus ratingof “hold” based on five analysts. The average price target of $41.50 per share implies 3% downside. The stock’s performance in the year thus far has been excellent, considering the broader state of the markets. Shares are up 3% in 2022, while theS&P 500is down 11% over the same period. Consequently, it is an expensive investment, confirming its place on this list of stocks to sell.
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 theInvestorPlace.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 post4 Stocks to Sell Before They Plummetappeared first onInvestorPlace. || How Do Crypto Prices Affect NFT Values?: dem10 / iStock.com NFTs and cryptocurrency have been joined at the hip from the very beginning. In order to buy the former, you usually have to use the latter — and the same digital wallets are used to store both. NFT prices are listed in cryptocurrency denominations, and most people who own NFTs also invest in crypto . The advent of cryptocurrency made NFTs possible — after all, they both rely on blockchain transactions to validate their authenticity and ownership. See Our List: 100 Most Influential Money Experts Looking To Diversify in a Bear Market? Consider These 6 Alternative Investments With all of those commonalities, it stands to reason that fluctuations in the price of cryptocurrencies would impact the value of NFTs — and they do. But, if you’re looking for a straight line between volatility in the crypto market and changes in the price of NFTs, a direct cause and effect is getting harder and harder to come by. A Red-Hot NFT in the Cold Crypto Winter On July 12, CryptoPunk #4464 sold for 2,500 ETH. It was the largest NFT sale in 30 days — and not just any 30 days. The summer of 2022 will forever be remembered as the crypto winter. Take Our Poll: Do You Tip for Service? According to CNBC, cryptocurrencies lost $2 trillion in value between their 2021 peak and mid-July of this year. The collapse of the stablecoin terraUSD contributed to the fall, as did the meltdown of Three Arrows Capital and the 70% drop of Bitcoin, the world’s biggest cryptocurrency. So, even in the crypto winter’s deepest freeze, one of the rarest NFTs from one of the most vaunted NFT collections was able to command a historically high asking price. But what does that mean? A Tie, You Say? Dollars vs. ETH According to Decrypt, the CryptoPunk #4464 transaction is locked in a three-way tie for the fourth-largest CryptoPunk NFT sale of all time. In December 2021, CryptoPunk #4156 also sold for 2,500 ETH. CryptoPunk #5577 sold for 2,500 ETH as well, in February 2022. Since most NFTs are recorded on the Ethereum blockchain, most NFT values are listed in ETH cryptocurrency denominations — and that’s where the relationship between crypto prices and NFT values is clearest. Thanks to the crypto market’s notorious volatility, a tie between three NFTs isn’t really a tie at all. Story continues The #4156 sale took place in the crypto market’s pre-winter heyday when 2,500 ETH was worth $10.25 million. Two months later, the 2,500 ETH that #5577 sold for was worth $7.7 million. The most recent sale — #4464 on July 12 — was worth just $2.6 million. So, three different buyers purchased three different NFTs just a few months apart, each for 2,500 ETH. But because of fluctuations in the price of cryptocurrency, that “tie” leaves a value gap of $7.65 million between the first and the third. The Parent-Child Metaphor In describing the relationship between cryptocurrency and NFTs, CoinDesk came up with a clever analogy where crypto is the parent and NFTs are the children. It’s not precise, but it makes a complex monetary relationship easy to understand. When the NFT market emerged, it was small, weak and dependent on the crypto market to steer its price action. Then, NFTs grew up big and strong, craving independence. Like teenagers who overestimate their readiness for the world, NFTs rebelled, experiencing a boom just as crypto prices were cratering. Then, as the NFT market matured and got a taste of the harsh realities of the world outside, it returned home to reconnect its fortunes to those of its crypto parents. Platforms like eBay and Instagram are planning to integrate NFTs, and Coinbase’s hotly anticipated NFT marketplace is expected to let users buy them with credit cards and fiat currency. Those near-future developments could finally decouple NFTs and crypto; but, until then, NFTs are living close to the nest even though they’re technically out on their own. It’s Complicated — and Still Playing Out Do crypto prices affect NFT values? It depends on who you ask. Coinbase cited data showing very little correlation between NFTs and crypto in terms of both sales volume and prices. On the other hand, Cryptonews outlined a direct link between the current crypto market panic and falling NFT prices. CNBC TV18 landed in the middle: It concludes that NFTs sometimes track the movement of their underlying cryptocurrencies, but not always. All three publications — along with most credible experts — agree on a few things that could explain the discrepancy: The markets are still new The separation of the two markets is even newer and not yet complete They’re both enduring their first extended bear market together In the end, the relationship between crypto prices and NFT values is muddled, but the picture likely will become clearer when the current crypto winter finally thaws. More From GOBankingRates 10 Things You Should Always Buy at Walmart States Whose Economies Are Failing vs. States Whose Economies Are Thriving Looking To Diversify in a Bear Market? Consider These Alternative Investments 18 Reasons Why You Should Be Using Your Credit Cards More This article originally appeared on GOBankingRates.com : How Do Crypto Prices Affect NFT Values? || 7 Bank Stocks to Buy on the Dip: With interest rates on the rise, you would think bank stocks would be having a banner year. Unfortunately, so far this year, banking stocks have struggled.Recession fearshave outweighed the rising rate tailwind. However, this has created an opportunity when it comes to bank stocks to buy on the dip.
What do I mean? It’s possible that the market is overestimating how much of an impact a possible economic slowdown will have on the performance of lending institutions. While more challenging times may lay ahead, that’s not to say that we’re in for a repeat of the turmoil experienced by the banking industry during the late 2000s.
Furthermore, looking beyond possible near-term headwinds, long-term prospects remain bright for many banks. That’s especially the case with the following seven bank stocks to buy on the dip.
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Each one earns an “A” rating in myPortfolio Grader. They currently trade at favorable prices, and could result in solid returns, from both price appreciation and dividends.
[{"AMAL": "AMTB", "Amalgamated Financial Corp": "Amerant Bancorp", "$20.68": "$28.8"}, {"AMAL": "BANC", "Amalgamated Financial Corp": "Banc of California", "$20.68": "$18.22"}, {"AMAL": "FBP", "Amalgamated Financial Corp": "First Bancorp", "$20.68": "$13.51"}, {"AMAL": "MCBS", "Amalgamated Financial Corp": "MetroCity Bankshares", "$20.68": "$20.65"}, {"AMAL": "SNEX", "Amalgamated Financial Corp": "StoneX Group", "$20.68": "$80.65"}, {"AMAL": "THFF", "Amalgamated Financial Corp": "First National Corp", "$20.68": "$44.68"}]
Source: Shutterstock
Based in New York,Amalgamated Financial Corp(NASDAQ:AMAL) is the parent company of Amalgamated Bank. This lending institution has an interesting history. Formed nearly 100 years by a labor union, it went public in 2018.
But even with its union ties, don’t think that AMAL stock isn’t a great opportunity for investors. Since debuting as a publicly-traded entity, it’s delivered solid earnings each year. With interest rates rising, earnings growth is expected for 2023.
Forecasts call for Amalgamated to earn$2.77 per share in 2023, up from an estimated $2.35 per share in 2022. Best of all, this bank stock trades at a low valuation. It trades for 8.8x 2022’s estimated earnings, and 7.4x 2023’s estimated earnings. It has a forward dividend yield of 1.55%. With a low payout ratio, there’s plenty of room for it to increase this dividend.
This stock earns an “A” rating in myPortfolio Grader.
Source: totojang1977 / Shutterstock.com
Based in Coral Gables, Florida,Amerant Bancorp(NASDAQ:AMTB) is a regional bank, operating in Florida and Texas. Shares zoomed during the second half of 2021. Year-to-date though, it’s dipped in price.
Again though, this works in your favor. The market’s overly pessimistic outlook on banking plays like AMTB stock enables you to get in at what could be an attractive price in hindsight. Like with a lot of the other bank stocks to buy on the dip, rising interest rates mean increased earnings ahead.
Not only that, Amerant could see earnings growth another way: through organic expansion. Last month, the bank announced that it has entered theTampa Bay commercial lending market. This could help drive loan growth, and in turn, earnings growth. Trading at a forward price-to-earnings (P/E) multiple of 12.2x, and with a forward dividend of 1.27%, consider it a buy.
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This stock earns an “A” rating in myPortfolio Grader.
Source: Africa Studio / Shutterstock.com
As its name suggests, this is a bank based in the Golden State.With 29 branches in Southern California,Banc of California(NYSE:BANC) is yet another bank stock trading at a low valuation (8.5x earnings).
Although down modestly (9%) year to date, it may have a path to re-hit its 52-week high, and hit new highs. How? As a commentator online argued last month, its redeeming of preferred sharescould help boost net income. Other moves this bank is making (such as increasing the size of its loan book) bode well for it as well.
Put it all together, and BANC stock is a great choice for investors looking to add banking sector exposure to their portfolios. Once pessimism about the banking sector’s prospects clear up, names like this one may make a solid recovery. Ahead of this happening, add this to your watchlist of potential banking buys.
This stock earns an “A” rating in myPortfolio Grader.
Source: Syda Productions / Shutterstock.com
First Bancorp(NYSE:FBP) is a regional bank. Its operations, though, are not centered on the mainland United States. Most of its branches are located in Puerto Rico, with the rest located in both theU.S. and British Virgin Islands, as well as Florida.
There is much to like about FBP stock. It has not only a low valuation (8.8x earnings multiple). It has a moderately high dividend yield (3.56%) too. Earnings per share (EPS) are expected to rise from$1.52 this year, to $1.71 in 2023. Less than a quarter of its earnings are now being paid out as dividends. It may have room to grow its payout.
Since reinstating its dividend in 2018, its quarterly payout has gone from 0.03 cents to 12 cents. Further dividend increases, plus renewed bullishness for regional banks, could pave the way to higher prices for First Bancorp.
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This stock earns an “A” rating in myPortfolio Grader.
Source: DCStockPhotography / Shutterstock.com
Similar to First Bancorp,MetroCity Bankshares(NASDAQ:MCBS) offers the combination of low valuation (P/E of 7.89x) and moderately-high yield(2.9% forward dividend). Founded initially to provide banking services to the Korean-American community, it’s grown considerably since its founding not that long ago.
Based in Georgia, it also has a presence in Alabama and Florida. Admittedly, with little news from it in recent months, it’s hard to pinpoint a specific catalyst that could get MCBS stock (down 25.7% year-to-date) moving back in the right direction. Still, if you’re bullish that a rebound for banking stocks is just around the corner, it’s one to keep an eye on.
This community banking play has many factors on its side. Its dividend pays you while you wait for it to bounce back. With today’s super-low valuation, even a modest re-rating, could mean a big move higher from today’s prices.
This stock earns an “A” rating in myPortfolio Grader.
Source: Shutterstock
So far, we’ve looked at just traditional bank stocks. Now, let’s take a look atStoneX Group(NASDAQ:SNEX). StoneX is a financial services firm, not a traditional bank. AsInvestorPlace’sStavros Georgiadis noted last month,it helps connect investors to worldwide markets, such as commodities and foreign exchange (forex).
While not a banking stockper se, SNEX stock is still worth noting. Up year-to-date, it’s only dipped slightly from its 52-week high. This was due to its exposure to rising commodities prices. However, with commodities prices pulling back since spiking when Russia invaded Ukraine, analysts anticipate earnings to decline in 2023 versus in 2022.
Nevertheless, the party may not be over for StoneX Group. Other catalysts could help it down the road. For instance,its move into digital payments. Even if you are hesitant about buying it today, you may still want to keep it on your watchlist.
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This stock earns an “A” rating in myPortfolio Grader.
Source: YummyBuum / Shutterstock
First Financial Corporation(NASDAQ:THFF) is a regional bank centered in the Midwest. Headquartered in Indiana, it has operations as well in surrounding U.S. states. Like many of the names listed above, it has a low valuation of (8.6x multiple) and 2.43% dividend yield.
Founded in 1834, it’s safe to say this is a stable, venerable lending institution. Chances are, it’ll continue to generate steady earnings, gradually growing them over time. Its dividend has seen little growth over the past five years. However, THFF stock has in the past paid out special dividends.
For example, in 2017, it issued a special dividend of $1.50 per share. A few months back, First Financial also authorized a plan tobuy back up to 10% of its outstanding shares. This is something else that could help move the stock higher. Conservative investors may want to check this one out.
This stock earns an “A” rating in myPortfolio Grader.
On the date of publication, Louis Navellier had long positions in AMTB, FBP, and SNEX. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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The post7 Bank Stocks to Buy on the Dipappeared first onInvestorPlace. || HIVE Announces RSU and Option Grants: VANCOUVER, British Columbia, Aug. 26, 2022 (GLOBE NEWSWIRE) -- HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBFA) (the “Company” or “HIVE”) announced that the Board of Directors has approved the grant of 415,200 incentive stock options (“Stock Options”) exercisable into the equivalent amount of common shares of the Company at a price of C$5.66 per share for a period of five years. The grants were made to employees, officers and consultants of the Company and are subject certain vesting requirements. The Company’s Board of Directors has also approved the grant of an aggregate of 1,425,280 restricted share units (“RSUs”) to employees, officers and consultants of the Company which vest over 24 months. Each vested RSU entitles the holder to receive one common share of the Company. These grants were made to appropriately reward the previous and ongoing contributions of the recipient employees, officers and consultants and to encourage them to continue contributing significantly to HIVE’s success in future.
Prior to the grants, the Company had approximately 82.2 million issued and outstanding common shares, approximately 2.8 million stock options, and 54,600 RSU’s.
All grants of Stock Options and RSU’s are subject to the Company’s Stock Option Plan and Restricted Share Unit Plan which were re-approved by shareholders at HIVE’s 2021 annual meeting of shareholders on December 21, 2021.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.
We encourage you to visit HIVE’s YouTube channelhereto learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visitwww.HIVEblockchain.com. Follow@HIVEblockchain on Twitterand subscribe toHIVE’s YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.“Frank Holmes”Executive Chairman
For further information please contact:Frank HolmesTel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about continued adoption of Ethereum and Bitcoin globally; the potential for the Company’s long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company dated July 19, 2022 and other documents disclosed under the Company’s filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to realize operational efficiencies going forward into profitability; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. || What Legacy Brands Can Learn From Web3’s Hyper-Cultish Narratives: Nietzsche famously declared, “God is dead” in the 20th century. But nature abhors a vacuum. In the 21st century, brands like SoulCycle have replaced Catholicism as new secular religions in the West. Walk into any SoulCycle in any of the same interchangeable global cities and you will be bombarded with quasi-religious messaging imprinted on the walls, comparable to the Arabic inscriptions in Istanbul's Hagia Sophia: “We aspire to inspire … Change your body. Take your journey. Find your soul.” Davis Richardson is a Web3 media strategist who has written for the New York Observer, New York Post, The Daily Beast, VICE, Paradox Politics and Wired. He owns bitcoin, ethereum and other cryptocurrencies. Just as the Catholic Church exploited followers’ fears of endless damnation by selling indulgences, SoulCycle tells its customers they have no soul without the needed corporate remedy: Exercise classes on stationary bikes. The fitness brand is hardly the outlier. In a global monopoly system lacking any ideological counterpart, companies battle one another for market share by converting competitors’ customers into followers. It isn’t enough to sell a good product: Companies must sell meaning in a world devoid of substance following the great ideological contests that characterized the 20th century. Although corporatism has replaced religion, populations on a whole are skeptical of marketing tactics. According to the Edelman Trust Barometer , only 48% of Americans trust corporate messaging. It is very difficult for centralized companies to cultivate loyal followings selling authentic experiences and meaning, partly because the underlying motive is profit. What is the Vatican but a collection of the world’s most iconic memes? Companies looking to boost their following should deploy the Web3 playbook: Turn consumers into individual stakeholders and make them feel part of larger social movements. Doing so may even recalibrate corporate incentive structures and promote a culture in which everyone has something to contribute based on their skills and merits. Story continues Web3 loves community … and free money Web3 startups understand the importance of community. They grow followings united in a common vision via Telegram and Discord, offering “community members” – a different framing from customers or consumers – benefits like presale tokens and airdrops to incentivize regular engagement. While traditional startup founders hoard company equity like paranoid ghouls even from senior leadership, Web3 organizations rain virtual monopoly money on anyone who exhibits a fraction of loyalty. A yearning for community and free money is at the heart of human nature. Legacy brands can’t operate in a legal gray zone and risk breaking securities laws over some comically named cryptocurrency, but they can incentivize spending and offer loyalty rewards. Airlines and hotels already do this with different points systems, forming "Disneyfied" infrastructures with strategic partnerships in which points can be transferred and used for more experiences. Corporations funnel hundreds of millions of dollars into marketing and elaborate PR campaigns, but they rarely give pre-existing members no-strings-attached gifts and experiences. Rather than treating customer acquisition like some Darwinistic contest that assumes human beings are either gullible idiots goaded into buying prepackaged services or evolved hunters safeguarding their resources by rejecting these attempts, companies should de facto emphasize community and regularly engage with members and reward them directly for being a part of it. Memes drive advertising and iconography The poet Allen Ginsburg famously wrote that whoever controls “the images, controls the culture.” Successful Web3 startups understand the importance of bite-sized media invoking humor around key reference points that often conceal the real purpose of driving forward key company narratives. If brands have replaced religions as new secular mass movements, then memes are the modern day vehicles for recruiting followers and reinforcing narratives and ideology. What is the Vatican but a collection of the world’s most iconic memes? Within each Web3 ideological camp, certain customs are particular to each group, whether it's Ethereum co-founder Vitalik Buterin's followers abstaining from seed oils or Bitcoin maximalists photoshopping laser eyes on their social media avatars. Memes reinforce these rituals while creating mythology around company founders. Unlike traditional corporate demographics, Web3 communities boast sycophantic, deranged followers willing to bet their entire financial well-being on whether a crypto lives or dies. Founded in 2006, SoulCycle convinced affluent, young professionals lacking spiritual meaning to buy into a fitness lifestyle with ads reading “Find Your Soul.” Founded three years later in 2009, Bitcoin developers convinced entire countries to buy into a new global monetary system following Reddit memes of Morpheus in the Matrix hailing its greatness. Mess is good Perfectionists limit themselves from uncovering new ideas and creation methods. Traditional companies are likewise kneecapped by corporate hierarchies, office politics and bureaucratic red tape from innovating. Web3 startups don’t have these inhibitors and can quickly adapt to the tailwinds of an emerging asset class evolving in hyper-speed over the internet. Getting messy and experimenting with memes and incentive structures allows founders to figure out better ways to scale their businesses and engage with their communities. Whether it succeeds or fails, there is something more honest about colorful ideas deployed off-the-cuff than heavily market-tested corporate promotions.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19329.83, 21381.15, 21680.54, 21769.26, 22370.45, 20296.71, 20241.09, 19701.21, 19772.58, 20127.58
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-10-07]
BTC Price: 10668.97, BTC RSI: 48.53
Gold Price: 1883.60, Gold RSI: 43.60
Oil Price: 39.95, Oil RSI: 50.22
[Random Sample of News (last 60 days)]
Bitcoin Options Open Interest Hits Record High in Expiry Week: Open interest in bitcoin options has risen to new record highs this week. But the market will witness $1 billion in notional value expiring Friday, which could trigger heightened volatility. A record $2.14 billion worth of options contracts were open on Tuesday, up nearly 53% from the multi-month low open interest of $1.14 billion back on Aug. 28, according to data source Skew . As of Wednesday, open interest was $2.03 billion. The previous record high of $2.11 billion was reached on July 30. Options are derivative contracts, which give the purchaser the right but not the obligation to buy or sell the underlying asset at a predetermined rate on or before a specific date. A call option gives its owner the right to buy and a put option gives its owner the right to sell. Deribit, the worlds largest crypto options exchange, contributed 75% or $1.6 billion of the total open interest of $2.11 billion on Tuesday. Meanwhile, the CME, which is considered synonymous with institutional activity, accounted for 13% of the total open positions. While open interest has risen to new record highs, trading volumes have remained mostly steady in the $100 million to $200 million range throughout the month. A trend higher in open interest amidst a backdrop of steady volume indicates the concentration of risk behind a specific theme/trade, said Vishal Shah, an options trader and founder of Polychain Capital-backed derivatives exchange Alpha5. Thats not necessarily a bad thing but shows where the market conviction is coalescing. Monthly expiry At press time, there were 89,100 options contracts with a notional value of over $1 billion set to expire on Friday across major exchanges Deribit, CME, Bakkt, OKEx, LedgerX according to data provided by the crypto derivatives research firm Skew . Some experts foresee the big expiry adding volatility to the spot price. Traders often hedge exposure on loss-making options positions ahead of expiries, putting upward or downward pressure on prices in the spot market. The theory is that the maximum pain point (which is very hard to know or evaluate) of the market will trigger delta hedging of those expired options, Patrick Heusser, senior cryptocurrency trader at Zurich-based Crypto Broker AG , told CoinDesk. The maximum pain point is the price at which option buyers would lose the most money and option writers or sellers would profit the most. Large institutions are generally net sellers of options and gain from pinning the spot price at the maximum pain point. Depending on the size of the market, they may try to push the spot price ahead of expiry, causing volatility. However, bitcoins options market is quite small compared to the spot market. Hence, the expiry may not have any impact on the spot price. Bitcoins options market saw a total trading volume of roughly $160 million on Wednesday. Thats just 0.8% of the spot market volume of $20 billion, according to data source Coingecko. We have seen it too many times in the past that just nothing happened on a big expiry, Heusser said. Story continues Related Stories Bitcoin Options Open Interest Hits Record High in Expiry Week Bitcoin Options Open Interest Hits Record High in Expiry Week Bitcoin Options Open Interest Hits Record High in Expiry Week Bitcoin Options Open Interest Hits Record High in Expiry Week View comments || Crypto Long & Short: 51% Attacks and Open-Source Value: Human ingenuity finds a way around limitations. Sometimes these limitations are obstacles in the way of progress and creative thinking comes up with new paths. Sometimes these limitations are a lack of knowledge, and experimentation pushes the boundaries of the possible. And sometimes the limitations are rules, which a few believe don’t apply to them and which some take as a motivating challenge.
We see examples of the above every minute of our daily lives. It’s in the race to find a vaccine, the diplomaticposturing over privacy,the anguish of finding a way around unemployment, even your toddler’s determination to not eat the spinach. We also see it every day in crypto – it’s in theTwitter hack,therush to developbetter payments systems, thescramble to raisefunds. The list goes on.
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:Ethereum Classic's Terrible, Horrible, No Good, Very Bad Week
Last week threw up a couple of examples that not only exhibit increasingly frequent manipulations of protocol rules, they also highlight one of crypto’s core value propositions.
Ethereum Classicis the original Ethereum blockchain maintained by stakeholders that refused to jump over to the fork that corrected for The DAO hack in 2016. Over the past few days it has sufferednot one,buttwo51% attacks.
A 51% attack happens when enough mining computing power (also known as hashpower) colludes to alter previously processed blocks and determine new ones, allowing attackers to block some transactions and reverse others. Ina 51% attack,malicious miners could create a competing blockchain that allows the same coins to be spent twice.
This maneuver is relatively frequent in smaller blockchains such as Ethereum Classic (ETC), which has a market cap ofapproximately $830 millionat time of writing. Ethereum’s (ETH) market cap, for comparison, is currentlyaround $44 billion.The attacks are usually brief, and then business carries on as usual. But two in the space of one week has prompted some commentatorsto questionthe blockchain’s survival.The amounts lost are not inconsiderable. In the first attack, the malicious miner(s) managed to double-spend a little over 800,000 ETC (about $5.6 million) after paying about $204,000 to acquire the necessary hash power. In the second attack, the double-spendwas at least$1.6 million.This is more than a lesson for investors to be wary of smallerproof-of-work blockchains.It also puts to rest the notion that open-source software, such as the Bitcoin (BTC) blockchain, is vulnerable to copies. And it is a clear example of why network security is a fundamental part of an asset’s value.
Related:Blockchain Bites: Inside Cosmos, Bitcoin at $200B, DeFi Surges
Ina recent essay,Lex Sokolin hinted at the potential power of large open-source networks, and the capacity for innovative economies to build competitive moats. This can apply tomultinational platforms,as well as to individual blockchains. “Finally,” he wrote, “we can see where copying a product without having an existing commercial community doesn’t have any positive effect. Take, for example, the forking of Bitcoin into Bitcoin Cash (BCH), or any other 50 or so clones of the coin. Or alternately, even the more contested forks like Ethereum Classic do not really compete for the dominant spot given the much smaller market presence.”
In other words, copies can be made, and Bitcoin/Ethereum forks can be spun up relatively easily. Somehave even suggestedthat this could weaken Bitcoin’s hard cap value proposition – the limit isn’t really 21 million, the reasoning goes, if other networks based on the same blockchain can choose the limit they want. But this unfounded concern overlooks the value of the community behind a network. However convinced you may be that bitcoin cash (for example) has superior characteristics, people prefer to trade and transact with bitcoin because that is where the volume is.
You can copy an open-source technology. But what gives a technology value is the community and network support from users.
In the case of crypto assets, the community and network support are more than just transaction volume generators. They have a material influence on the network’s development and security, which further enhances the asset’s value.
The greater the transaction volume of a blockchain, the more interesting it is for miners, who earn a fee on transactions. And the greater the potential demand for an asset, the greater the value of the rewards miners earn from processing blocks. So, a network with strong prospects for growth in volume and value will attract a wider pool of miners.
A wider pool of miners makes it much harder for any one bad actor to engineer a 51% attack. In the case of Bitcoin, the computing power needed to successfully manipulate a meaningful number of blocks would beprohibitively expensive.For smaller blockchains, it’srelatively cheap.This is why it is important to keep an eye on the health of the Bitcoin mining industry. It is currently struggling, and not just because therecent halvingreduced miners’ income in BTC terms by almost 50%. The activity is stillconcentrated in China,where miners aregrappling with overcapacityand a much longer wait to recoup initial investment.Internal troublesat one of the industry’s largest hardware suppliers are not helping.Miners dropping out would weaken Bitcoin’s security, which could negatively affect its value, which could cause more miners to drop out, and so on in an unfortunate spiral. But more miners joining the network could increase security and value, and encourage more participation, further boosting the value.
A glitch in this pattern is the regularly scheduled halving event, which reduces the block subsidy by 50%. Unless the value of BTC and/or transaction fees rise to offset the difference, mining will be less profitable for some and unprofitable for many, which could negatively impact security. Some have argued that as miners’ rewards become more dependent on fees, the networkwill be more vulnerableto 51% attacks.
So far, Bitcoin’s hashrate – a good proxy for the health of the mining industry – is stronger than ever, in spite of the reduced income, which should reassure investors that a 51% attack is not a significant risk for market’s largest network.
Ethereum’s current hashrate is also robust, unlike that of Ethereum Classic.
One mystery is why ETC’s price has not plunged as a result of the hacks. Over the week, it has fallen 10%, a paltry amount given the attention these hacks are getting, not to mention the blow to investor confidence. A possible explanation could be that the likelihood of 51% attacks is already priced in. In other words, ETC already carries a significant discount for its lack of security. Its performance since the beginning of 2019 is less than one fifth that of its much larger sibling. And a decline of 10% in a week when the ETH price rose by almost 15% is telling.
Ethereum’splanned move awayfrom a proof-of-work blockchain will change its security equation, removing the threat to mining but no doubt introducing other possible attack vectors. However, attacks can make a network stronger, if and only if there is a large and active community of stakeholders willing to invest resources into development, growth and preventing future attacks.
An active community creates value, which grows the active community, in a virtuous cycle. In anessay for CoinDesk this week,Nic Carter points out that Bitcoin’s patronage system signals one of the network’s strongest advantages: investment in and by its stakeholders. Also this week, OKCoin awarded itslargest individual grantso far to Bitcoin’s second-most prolific contributor to the core code.
These “patronages” have at their root the recognition that a strong network benefitsallparticipants. This is difficult to replicate in smaller networks, where issued coins tend to be held in concentrated pockets and the businesses that could profit are few. It is even more difficult to replicate in traditional open-source technologies, where network effects are harvested by private businesses and profits flow towards size.
In crypto, the network effects are enjoyed by the whole community, not just for-profit businesses.
The difference between crypto and other technologies is that Bitcoin, Ethereum and others are more than technology networks, they are alsovaluenetworks. And what gives these networks their value?
That’s what 51% attacks on smaller networks teaches us. That it’s not the technology, and it’s not even the alleged revolutionary potential of some of the functionalities. It’s the community that gives value. That comprises the body of work so far, the energy and time invested every day, the creativity and the intellect, the conviction and the sense that what everyone is working on is bigger than any one business or individual.
Attacks will happen, and networks and people will come and go. But an immense body of people working together to build networks that are not controlled by anyone and that distribute value in unusual and sometimes intangible ways – that is here to stay. Because people have throughout history shown that resilience comes from collective effort supporting powerful ideas.
As explosions wreakheartbreaking damageto an area that can ill afford it, as geopolitical tensionsmuscle their way intothe use of social media and communication platforms, and withno agreement in sighton a fifth coronavirus U.S. relief bill, markets seem to be getting increasingly nervous about the international balance of capital flows.
Gold breezing past $2,000 for the first time ever is itself news, as well as a symptom of growing market unease. Tentatively encouragingemployment figuresare welcome, but have not soothed the nervous vibe, asconcerns about inflationandthe dollar’s roleas a global reserve currency seem to be gathering steam.
In bitcoin, could it be that volatility is back? After weeks of trading within a relatively narrow band, bitcoin broke out last weekend, climbing 5% to almost $12,000, only to sharply drop 8% in a matter of minutes. Sigh, it’s starting to feel almost normal again.
Bitcoin’s recent rally has given it a strong lead over other asset groups in terms of year-to-date performance, with even gold left far behind. And even reasonable commentators are starting totalk about a “bull market.”
Goldman Sachshas appointed a new headof digital assets, and is boosting the team.TAKEAWAY:Matthew McDermott has taken over from Justin Schmidt, and has brought on board Oli Harris, former head of digital assets for JPMorgan. That does not mean that we’ll see a Goldman Sachs crypto trading desk in the near future (although it isn’t ruled out) – the short-term focus seems to be on the impact that blockchain technologies can have on capital markets, with a Goldman Sachs stablecoin possibly on the cards. This in itself is exciting, as few other legacy institutions have the necessary clout to give capital markets a meaningful nudge along the road to greater efficiency.
Coin Metrics points out that thenumber of addresseson the bitcoin blockchain that hold more than $10 worth of BTC isat its highest level ever,14% higher than at the peak of the 2017 bubble.TAKEAWAY:Using the dollar-based price may be intuitively easier to visualize, but it can also distort the growth. If the BTC price rises, the number of addresses with a certain dollar balance will also rise, even if holders do not buy more bitcoin. The number is considerably higher than at the end of 2017, however, which is notable, since the BTC price was much higher then. In other words, therehasbeen strong growth in the number of holders of small amounts of bitcoin over the past two-and-a-half years.
This chart using data fromGlassnodeshows that the number of unique addresses holding less than 1 BTC has easily outstripped larger holdings, confirming a dispersion of ownership – more small savers are accumulating positions.
The conversation is getting louder. I’m surprised by how fast bitcoin is making its way into“mainstream” financial discourse(whatever that means in these strange times, of course). First, we had Barstool Sports’ Dave Portnoy (@stoolpresidente)start to put bitcoinin front of his 1.7 million followers. Then we had “Rich Dad” himself (@theRealKiyosaki)recommend that his1.4 million followers buy bitcoin “and get richer.” And we also saw publicly traded business intelligence company MicroStrategy casuallysay in a recent earnings callthat it was thinking of investing $250 million of its excess cash into “alternative assets” such as, you guessed it, bitcoin.
While we continue to receive news ofcrypto funds closing down,such asNeural Capital,which lost half its money since launching in 2017, there are alsosome that are doing well.TAKEAWAY: Electric Capitalclosed its second venture fund at $110 million, more than three times the raise for its first fund just two years ago. Traders and investors watching the spot and derivative markets for signs of institutional-sized volume are missing indicators that institutional capital is already here. 90% of Electric’s raise was from institutions, including university endowments.
Grayscale Investments* has publicly filed aForm 10 Registration Statementwith the U.S. Securities and Exchange Commission in order to designate Grayscale Ethereum Trust as an SEC reporting company.TAKEAWAY:This would reduce the statutory holding period from 12 months to six (starting 90 days after designation, and contingent on other Securities Act requirements being satisfied), which could enhance the appeal to a broader range of investors. Many active investors are likely to prefer the shorter lock-up, and some institutions are unable to hold assets that are not registered with the SEC. Also, greater liquidity could reduce the premium that retail investors pay – this has been falling anyway, from over 900% in early June to just (?!) 180% at time of writing. (*Grayscale Investments is owned by DCG, also parent of CoinDesk.)
Podcast episodes worth listening to:
• The History, Present and Future of Central Banks, Feat. George Selgin– Nathaniel Whittemore, The Breakdown
• Hedgeye CEO Keith McCullough on Stagflation, Bitcoin and the Devalued Dollar– Nathaniel Whittemore, The Breakdown
• How Canaccord Genuity is approaching the cryptoasset market– Matt Walsh, Castle Island Ventures
• Why The Travel Rule Is One Of The Most Significant Regulations In Crypto– Laura Shin, Unconfirmed
• SLP198 Caitlin Long – What Are Austrian Economists Missing About Money And Banking?– Stehpan Livera Podcast
• Crypto Long & Short: 51% Attacks and Open-Source Value
• Crypto Long & Short: 51% Attacks and Open-Source Value || AUD/USD and NZD/USD Fundamental Weekly Forecast – RBNZ to Hold Rates Steady, Traders Pricing-in RBA Rate Cut: The Australian and New Zealand Dollars closed higher last week against the U.S. Dollar, but a drop in appetite for riskier assets may have limited gains. Stronger-than-expected domestic data helped underpin the Aussie, while Kiwi investors shrugged off a steep decline in quarterly GDP, choosing instead to focus on expectations for better numbers during the third quarter as the government lifts COVID-19 restrictions.
Last week, theAUD/USDsettled at .7290, up 0.0008 or +0.10% and theNZD/USDfinished at .6758, up 0.0092 or 1.37% after touching a multi-year high.
The Australian Dollar reversed early losses last week after highly anticipated minutes from the central bank’s September monetary policy meeting stopped short of signaling a further cut to the cash rate.
The minutes showed the Reserve Bank of Australia (RBA) will maintain its “highly accommodative settings” as long as required and will continue to consider how further policy measures could support the economy. However, it did not indicate a policy action was imminent.
In other news, Australia’s unemployment rate fell, but those without work say it is not getting any easier to find a job, especially in locked-down Victoria.
Official Bureau of Statistics figures show 111,000 jobs were created last month pulling the headline unemployment rate down from 7.5 to 6.8 percent.
The percentage of underemployed people, who wanted to work more hours than they did, remained steady at 11.2 percent.
Total hours worked rose 1.6 percent last month but is still down 5.1 percent on August last year.
New Zealand fell into its deepest economic slump on record in the second quarter as its battle against the coronavirus pandemic paralyzed business activity, official data showed on Thursday.
Gross domestic product contracted a seasonally adjusted 12.2% quarter-on-quarter, its sharpest quarterly contraction on record and largely in line with forecasts of a 12.8% decline from economists polled by Reuters.
The Reserve Bank of New Zealand (RBNZ) had forecast a quarterly and annual GDP decline of 14% in its August statement.
Economists say the GDP data will have little impact on RBNZ policy, which is expected to hold interest rates at a record low of 0.25% at its meeting on September 23.
Economists are also saying that New Zealand will bounce back faster, while other nations are still struggling to contain the coronavirus. Some are saying that the June quarter’s record-breaking GDP decline will be followed by a record-breaking rise in the September quarter. However, the Treasury says that while New Zealand’s response to COVID-19 helped lessen the short-term economic shock, massive debt and continuing disruptions will delay a full recovery.
The AUD/USD could struggle this week as interest rate futures are still almost fully pricing in a 15 basis point rate cut in October. The Aussie has meandered since hitting a two-year high at .7414 on September as market pricing shifted rapidly in favor of a cut to the cash rate to 0.1% after its September policy meeting.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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The rowing stars and Zuckerbergs Harvard classmates eventually found their own success in the worlds of cryptocurrency and Bitcoin, but not before suing Z-man for stealing their ConnectU early social media concept and transforming it into Facebook. In 2016, while promoting his film Nocturnal Animals , Hammer told us that people who had seen The Social Network , which was released 10 years ago, on Oct. 1, 2010, would come up to him and ask where his twin was (watch below). Hammer says he would then serve up a zesty reply. I like to tell them, You know how sometimes twins will eat each other in the womb, like one will absorb the other? We just did it much later in life. It gets very strange looks sometimes. In reality Fincher used two performers to portray the Winklevii, with actor Josh Pence standing in for one. The production used split-screen effects and digital face replacements on Pence. As Hammer revealed to The Hollywood Reporter in 2017, he was originally only set to play one of the twins, with Pence actual face and all set to play the other, despite the fact that the Winklevosses were identical. Ultimately, Fincher decided wed get a double dose of Hammer Time, which the actor said created some awkwardness on set. [Fincher] is like, OK, here's what we have to do: These twins have to be identical. So Armie, were going to double you. Josh, were going to put dots on your face, Hammer told THR . You could cut the tension with a spoon. Story continues The quasi-pair of performances generated Hammer Oscar buzz at the time , and he has been a marquee mainstay ever since, appearing in films like J. Edgar (2011), The Lone Ranger (2013), The Birth of a Nation (2016), Call Me By Your Name (2017), Cars 3 (2017), Sorry to Bother You (2018), and On the Basis of Sex (2018). So its unlikely Hammer is still being asked where his non-existent twin is hiding, but it is comforting to know he has a stellar explanation prepared. Stream The Social Network on Amazon Prime . Read more on Yahoo Entertainment: 'Girlfight' at 20: Michelle Rodriguez talks bruising breakout role and how they originally wanted a white 'girly-girl' actress like Alyssa Milano for the part 'Remember the Titans' at 20: Boaz Yakin on the challenges of making a PG movie about racism and why he wouldn't be hired to direct it today 'To Die For' at 25: Nicole Kidman says she had to quit to get Joaquin Phoenix cast in acclaimed dark comedy || Two Charged With Duping Investors Out of $5M With Bogus Bitcoin-Buying Brokerage: New York federal prosecutors charged two men with running a phony bitcoin brokerage service that duped victims of $5 million. As alleged in a criminal complaint unsealed Monday , former fugitive Randy Craig Levine and disbarred attorney Philip Reichenthal never bought their two high-rolling investors any bitcoin despite promising to do so. One victim, an unnamed “purported cryptocurrency escrow firm,” wired Levine $3 million to fund an over-the-counter desk’s bitcoin buy, according to prosecutors, who said the second victim, a Florida bitcoin investor, wired Levine $2 million. Levine allegedly told the victims their funds were moved into an “escrow” service and then stopped responding to the victims’ questions. But Levine’s escrow was actually Reichenthal’s money-laundering front, prosecutors allege. They claim Reichenthal wired millions to Russian, Mexican and Guatemalan bank accounts controlled by Levine aliases. Levine and Reichenthal allegedly pocketed the money, giving their victims no refunds or bitcoin. The pair face allegations of wire fraud, money laundering and commodities fraud in New York federal district court. Levine is currently awaiting extradition from Austria; he’s been on the run from U.S. authorities since 2005. Reichenthal was disbarred last October in a Florida court. Related Stories Two Charged With Duping Investors Out of $5M With Bogus Bitcoin-Buying Brokerage Two Charged With Duping Investors Out of $5M With Bogus Bitcoin-Buying Brokerage Two Charged With Duping Investors Out of $5M With Bogus Bitcoin-Buying Brokerage Two Charged With Duping Investors Out of $5M With Bogus Bitcoin-Buying Brokerage View comments || Bitcoin Rises Back to $11K Despite Signs of Indecision in the Market: Bitcoin is again looking to establish a foothold above $11,000 on Friday, although the technical charts are anything but stridently bullish.
• The leading cryptocurrency by market value is trading just over $11,000 at press time, having found bids below $10,800 on Thursday, according to CoinDesk’sBitcoin Price Index.
• Buyers, however, have been struggling to keep prices above $11,000 over the last few days.
• The cryptocurrency clocked highs of $11,104 and $11,050 on Wednesday and Thursday, respectively, but printed a UTC closing price below $11,000 on both occasions.
• Notably, bitcoin created a doji candle on Thursday, as it swung both ways before ending the day on a flat note.
• A doji shows both buyers and sellers are not willing to lead the price action.
• However, new investorsare enteringthe market at a faster pace and one may expect bitcoin to post sustainable gains above $11,000.
• On the other hand, on-chain analyst Cole Garnerbelievesthe recent spike in bitcoin outflows from miner wallets to exchanges is a cause for concern for traders expecting a continued price recovery.
• According to data sourceGlassnode, 1,113.85 BTC were transferred to exchange wallets from miner wallets on Sept. 13 – the biggest single day outflow since December.
• An increased supply of bitcoin moving onto exchanges suggests increased selling pressure.
• So far, however, bitcoin has largely remained resilient and is up 6% this week.
• This may have been helped by investors moving money out of alternative cryptocurrencies and into bitcoin, according to Patrick Heusser, a senior cryptocurrency trader at Zurich-basedCrypto Broker AG, told CoinDesk in a Twitter chat.
• Indeed, major alternative cryptocurrencies such asether(ETH),bitcoin cash(BCH) andlitecoin(LTC) have depreciated by 2% to 5% against bitcoin in the past seven days. Chainlink’sLINKtoken is down 17%, according to data source Messari.
• Should the latest indecisive price action end with an upward move, the focus would shift to the next hurdle at $11,200. That level served as strong support in August.
• Thursday’s low of $10,765 is the level to defend for the bulls.
Also read:Bitcoin ‘Young Investment’ Wallets at Highest Level Since February 2018
• Bitcoin Rises Back to $11K Despite Signs of Indecision in the Market
• Bitcoin Rises Back to $11K Despite Signs of Indecision in the Market
• Bitcoin Rises Back to $11K Despite Signs of Indecision in the Market
• Bitcoin Rises Back to $11K Despite Signs of Indecision in the Market || Market Wrap: Bitcoin Slumps to $10.7K; Ethereum Fees Rise Again: Bitcoin lost momentum Thursday while DeFi delirium pushes fees on Ethereum back up.
• Bitcoin(BTC) trading around $10,920 as of 20:00 UTC (4 p.m. ET). Slipping 0.73% over the previous 24 hours.
• Bitcoin’s 24-hour range: $10,735-$11,052
• BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Bitcoin headed downward Thursday, going as low as $10,735 on spot exchanges such as Coinbase, but recovering to $10,920 as of press time.
Andrew Tu, an executive at quant trading firm Efficient Frontier, sees $11,000 as a key bitcoin price point. ”$11,000 has served as both support and resistance over the last two months,” Tu told CoinDesk. “If we properly break $11,000, we may head up towards $12,000 again while if we fail to break through, then we may go back towards $10,700 and then to $10,000.”
Related:New on Bitcoin’s Lightning Network: LND Adds Accounting Feature, c-lightning Gets an Upgrade
Thus far in September, bitcoin has been over the $11,000 mark twice, most recently on Wednesday prior to the U.S. Federal Reserve announcement of unchanged interest rates and allowing inflation to run over 2% in the near term.
Read More:Bitcoin Back Below $11K as Markets Doubt Fed’s Ability to Boost Inflation
Katie Stockton, analyst for Fairlead Strategies, sees a lack of momentum in the bitcoin market Thursday. “Today is an ‘inside-day’ for bitcoin, when the day’s high-low range is encompassed by the previous day’s range, so the action is not impacting the chart in a meaningful way.” Indeed, Wednesday’s bitcoin price range was wider,at $10,662-$11,099 per bitcoin.
In the options market, implied volatility, a measure of bitcoin’s forecasted price movement, is much higher than realized volatility, which is based on historical price changes.
Related:Uniswap's Newly Launched UNI Token Has Already Doubled in Price
This phenomenon has been occurring since July as options traders are increasingly hedging their bitcoin bets, said William Purdy, an options trader and founder of PurdyAlerts, an analysis firm.
“The historical realized volatility has significantly declined while implied volatility has increased as investors are increasingly willing to pay for more price protection,” said Purdy.
This is alsohappening in the ether options market, though not as pronounced as in bitcoin. Investors still expect an additional price boost from May’s halving, which reduced the new supply of bitcoin coming to market, according to Purdy.
“As we get later and later into the post-halvening cycle, traders are likely increasingly expecting a major price change and therefore expecting their already expensive premiums to still net positive ROI as they expect an even larger change in price,” Purdy told CoinDesk.
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Thursday, trading around $388 and climbing 6.1% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Uniswap Launches Governance Token to Keep Up With Rival SushiSwap
The average transaction fee on the Ethereum network is shooting up once again, at 0.030806 ETH per transaction at press time. According to data aggregator Blockchair, that translates to $11.97 at current ether prices.
Jean-Marc Bonnefous, managing partner of Tellurian Capital, which invests in the decentralized finance, or DeFi, ecosystem, says Uniswap’s surprise token launch is not helping the fee situation.
“There has been a fair amount of congestion for some time already and we now have the very popular one-off airdrop of the much awaited Uniswap token UNI that is the talk of the town,” said Bonnefous. “More tokens like YAM are going live this week also. DeFi definitely sets the agenda in the digital assets markets this month,” he added.
Digital assets on theCoinDesk 20are mixed Thursday, mostly in the green. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• neo(NEO) + 16.4%
• monero(XMR) + 6.3%
• qtum(QTUM) + 6.1%
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• orchid(OXT) – 6.1%
• nem(XEM) – 5.3%
• ethereum classic(ETC) – 1.4%
Read More:Ethereum’s Pending Transactions Jump 30% After Uniswap’s Token Claim
Equities:
• In Asia the Nikkei 225 closed in the red 0.67% asthe Bank of Japan kept interest rates unchanged and the yen hit a seven-week high.
• In Europe the FTSE 100 ended the day down 0.47% asthe pound went on a roller-coaster ride amid the Bank of England’s hint at negative rates.
• In the United States the S&P 500 fell 0.80% asuncertainty about further economic stimulus and mixed information on a coronavirus vaccine dragged down the index.
Commodities:
• Oil is up 2.1%. Price per barrel of West Texas Intermediate crude: $41.01.
• Gold was in the red 0.56% and at $1,947 as of press time.
Treasurys:
• U.S. Treasury bond yields slipped Thursday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 7%.
• Market Wrap: Bitcoin Slumps to $10.7K; Ethereum Fees Rise Again
• Market Wrap: Bitcoin Slumps to $10.7K; Ethereum Fees Rise Again || Latest Chainlink price and analysis (LINK to USD): The mightily impressive Chainlink has succumbed to a 13.2% move to the downside this morning following its astonishing surge to a new all-time high of $14.49 since the turn of the month. The LINK token now has a market cap of $4.4 billion, making it the sixth largest cryptocurrency in circulation behind Bitcoin Cash in fifth. In the past five months LINK has made a sensational 712.57% move to the upside after bouncing from a low of $1.63 in March. Much of the recent rally has been attributed to the rise in popularity of the decentralised finance (DeFi) sector, which Chainlink falls under. The project aims to bridge the gap between blockchain technology and mainstream applications using its decentralised oracle network. As retail and institutional investors continue to flock to DeFi, trade volume on both LINK’s USD and BTC trading pairs have naturally surged. Over the past 24-hours there has been $1.4 billion traded across all LINK trading pairs, which is three times higher than its daily volume on July 25. While a pullback from such a ferocious rally is expected, the fact that LINK has decoupled from Bitcoin and Ethereum indicates continuation to the upside is likely over the coming weeks and months. Levels of support remain at both $12.07 and $10.26 but what’s more likely is a retest of the local high at $14.47. Much of the upcoming price action on lower time frames will depend on the trajectory of Bitcoin, as a major sell-off across larger market cap coins could trickle down to altcoins like LINK, as investors will be forced to liquidate assets in order to cut losses. However, if Bitcoin can break above and close this week’s candle above $12,000 it would pave the way for LINK to form a new all-time high just as it did following the 19% sell-off on August 2. For more news, guides and cryptocurrency analysis, click here . || Oil Traders Under Pressure, as Seasonal Effect on Crude Oil Markets Come to Play: Traders have been struggling of late to keep Brent crude prices above the $43.50 price support level, after touching one month low, as Brent crude prices breached the crucial support area around the $45 price level. Sell-offs also intensified on increased profit taking by traders. It should be noted that Crude prices of late have been experiencing low volatility in the markets overall. However, the recent U.S Job reports recently released is expected to keep the price of crude above the $40 level price level (Brent Crude) in the near term and probably trigger more trading activity in the fragile energy market. Also the recent surge in the US dollar ahead of the European Central Bank (ECB) rate decision is posing a most massive threat to the short-term view of crude oil prices. Crude oil traders are aware, on the recent rebound on the US dollar Index, as squeezed out momentarily the steady bullish run on the energy derivative, as the greenback’s gain is relatively negative effect on the commodity. Also, there is a seasonality effect on the black liquid derivative, including the U.S refinery maintenance period and end of the driving season that will both be weighing on oil demand in September, perhaps spooking the markets, even more, are reports that Iraq was getting complacent on its commitments under the OPEC+ agreement. While the USD move and Iraq news may have led to some profit-taking, underlying supply/demand dynamics and the just recent impressive economic data from the world’s largest economy continue to suggest a tightening market and a move towards the $45 per barrel in the case for Brent oil. Crude oil prices now seem to be in a price consolidation phase after a positive melt-up over the past eight weeks. 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: Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next AUD/USD Weekly Price Forecast – Australian Dollar Pulls Back After Trying to Rally USD/JPY Weekly Price Forecast – US Dollar Rallies Into Resistance E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 Oil Tries To Settle Below The $40 Level Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week || Market Wrap: Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High: Bitcoin continues to slide while ether has a larger share of the crypto market than it has had in years.
• Bitcoin(BTC) trading around $10,726 as of 20:00 UTC (4 p.m. ET). Slipping 6.1% over the previous 24 hours.
• Bitcoin’s 24-hour range: $10,468-$11,474
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Bitcoin continues its downward trend Thursday, with prices descending as low as $10,468 on spot exchanges such as Coinbase. While it has recovered a bit, traders selling for profits has certainly been the theme right now.
Read More:Bitcoin Plunges $403 in 1 Hour to Lowest in a Month
Related:Market Wrap: Bitcoin Tumbles to $9.8K; Investors Continue Plowing Crypto Into DeFi
“This is similar to what we’ve seen as bitcoin approached the $10,000 and $11,000 levels, where profit-taking occurred on a few different occasions,” said John Kramer, a trader at crypto over-the-counter firm GSR. “Many investors will see this as an opportunity to buy the dip.”
Just like Wednesday, leveraged liquidations played a role in exacerbating bitcoin’s price drop. However, Thursday’s wipeout of long traders on derivatives exchange BitMEX was a bit higher, with $10 million in hourly liquidations topping Wednesday’s $9 million hourly spree, the equivalent of a margin call in crypto parlance.
Read More:Bitcoin Risks Deeper Price Pullback as Exchange Inflows Spike
“Some people who were buying in over $11,500 in BTC with leverage suddenly got stopped out when we moved back down towards $11,100,” said Chris Thomas, head of digital assets for Swissquote Bank.
Related:First Mover: Buying Bitcoin's Dip, Betting Against Tether and Weighing the Jobs Report
Thomas suspects bitcoin’s price will not reach new 2020 highs in the near term, despite testing that level as recently as Tuesday when the price hit $12,085. “I think we trade in the $11,000-$12,000 range for a while,” he said.
In equities, while the major Asian Nikkei 225 index was buoyed by expectations new leadership in Japan will continue economic stimulus policies put in place by outgoing Prime Minister Shinzo Abe, stocks in Europe and particularly in the U.S. are awash in red – as it is in most of the crypto ecosystem Thursday.
• Asia’s Nikkei 225 ended the day in Tokyo climbing 0.94%,boosted by gains in the chemical and metals sectors.
• Europe’s FTSE 100 slipped 1.5% asconcerns about further job losses on the continent soured investor sentiment.
• The United States’ S&P 500 dropped 4.1% astech stocks took a tumble, including Apple falling 7.2% and Microsoft down 6.7%.
GSR’s Kramer views the equities markets with some trepidation, and has concerns about the performance of traditional finance for the balance of 2020. “Stock valuations remain overinflated in the eyes of many observers, and economic uncertainty persists,” he said. “A crypto drop like this won’t deter the majority of investors who have a longer-term investment thesis.”
Read More:Jump Trading Invests in Decentralized Exchange Serum
The second-largest cryptocurrency by market capitalization,ether(ETH), was down Thursday, trading around $402 and slipping 7.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:DeFi Risk Management Startup Cozy Finance Debuts With $2M Funding
But while the price is down, ether’s dominance of the broader crypto market hit a 2020 high of over 14% Wednesday. Although dipping a bit Thursday, the last time ether’s share was at these levels was back in August 2018.
“A large number of useful projects on the Ethereum blockchain contribute to ether dominance growth,” said Azamat Malaev, co-founder of HodlTree, a decentralized lending protocol. However, scaling is an issue that could cause ether’s share to wane, Malaev added. “To maintain this trend, Ethereum urgently need to scale the network. For ordinary users, transactions are already very expensive”
Read More:Ethereum Developers Focus on Congestion as Fees Spike Over 600%
Digital assets on theCoinDesk 20are mostly in the red Thursday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• tron(TRX) + 36%
• nem(XEM) + 0.89%
Read More:New Crypto Derivatives Let You Bet on (or Against) Tether’s Solvency
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• lisk(LSK) – 12.4%
• zcash(ZEC) – 11.8%
• basic attention token(BAT) – 11%
Read More:Hardware Wallet Flaw Lets Attackers Hold Crypto for Ransom
Commodities:
• Oil is down 0.67%. Price per barrel of West Texas Intermediate crude: $41.29.
• Gold was in the red 0.61% and at $1,930 as of press time.
Read More:Around the Crypto World in 15 Charts
Treasurys:
• U.S. Treasury bond yields all slipped Thursday. Yields, which move in the opposite direction as price, were down most on the two-year, in the red 2.8%.
Read More:Digital Bank Revolut Expands Crypto Buying and Selling Service to Australia
• Market Wrap: Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High
• Market Wrap: Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10
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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 2022-03-02]
BTC Price: 43924.12, BTC RSI: 59.79
Gold Price: 1920.90, Gold RSI: 62.75
Oil Price: 110.60, Oil RSI: 80.51
[Random Sample of News (last 60 days)]
Australian Dollar Reaches 50 Day EMA: The Australian dollar has rallied a bit during the course of the trading session on Wednesday to reach the 50 day EMA, I very commonly followed technical indicator. This is a small breakout of short-term resistance, but ultimately it looks as if the market is ready to face even more resistance above, so I do not necessarily think we have a huge breakout just waiting to happen, but we do have the CPI numbers coming out on Thursday which will have a lot to do with where we go next. AUD/USD Video 10.02.22 Ultimately, I do believe that this market will move upon inflation expectations coming out the United States, and of course the CPI number will be a major indicator as to whether or not the Federal Reserve will have to become even more aggressive in their tightening. The tighter that the Federal Reserve gets, the more likely we are to see the Aussie fall, as investors chased higher yields. The 0.70 level above should be thought of as potential resistance, so I do think that you need to be very cautious at this point. Nonetheless, I think that the 0.70 level underneath is a major support level, so we need to pay close attention to that as well. If we were to break through the 0.72 level, then the Aussie may be able to pick up some steam. Breaking through the 0.70 level to the downside would of course be a very negative turn of events and could lead to massive Australian dollar selling. That being said, I think it is probably going to be difficult to finally break through there, but eventually it could happen. This would obviously be a major sign of US dollar strengthens, and we would probably see it around the world. 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: Gold Prices Rise Ahead of Thursdays CPI Report Grand Theft Auto Publisher Sees a Future in NFTs Gold Markets Getting Stretched Report: Bitcoin Donations Aids Ukraines NGOs Activities Natural Gas Markets Continue Plunging Why Chipotle Mexican Grill Stock Is Up By 9% Today || Bitcoin price tests $40,000, Ethereum hovers near $3,000 level again: Bitcoin ( BTC-USD ) and Ethereum ( ETH-USD ) are tumbling in what has been an ugly start to the year for cryptocurrencies. Bitcoin, the largest digital cryptocurrency, has extended its slide to fall to as far as $39,558 Monday morning, dipping below the crucial $40,000 level for the first time since September 2021. It is nearing what is known as the " death cross ," a bearish indicator which occurs when the 50-day moving average dips below the 200-day moving average, and could mean bitcoin is entering a bear market. Meanwhile, ethereum the second-largest digital coin slumped 2.76% to $3,020.16 after briefly dropping below the key $3,000 level, seen for the first time back in May 2021. At its peak in November, the cryptocurrency topped $4,800 after clawing its way back from below $2,000 in July 2021. The sell-off in crypto comes amid concerns over potential rate hikes by the Federal Reserve as soon as this quarter that has rocked the broader markets since last week as investors began dumping risky assets. "The minutes from the Fed have increased expectations that the central bank of the worlds largest economy will now move faster to raise interest rates to fight soaring inflation, said Nigel Green, chief executive and founder of deVere Group . "As a result, theres been a knee-jerk sell-off on Wall Street and the crypto market as it is perceived by some traders that such a move puts at risk the liquidity that has benefitted many asset classes, including bitcoin. Bitcoin has now lost about one-third of its value since its all-time high of $67,000 in November 2021 marking its worst start to the year for the token since 2012. Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Instagram , YouTube , Facebook , Flipboard , and LinkedIn || New to The Street T.V. Announces its Four T.V. Interviews Airing on the Fox Business Network, Tonight, Monday, February 14, 2022, 10:30 PM PT and Tomorrow Night, Tuesday, February 15, 2022, 10:30 PM PT: New to The Street T.V. Announces its Four T.V. Interviews Airing on the Fox Business Network
NEW YORK, Feb. 14, 2022 (GLOBE NEWSWIRE) -- FMW Media’sNew to The Street T.V., a nationally syndicated business show, announces its televised line-upstonight,Monday, February 14, 2022,at 10:30 PM PTandTuesday night, February 15, 2022,at 10:30 PM PTon theFox Business Network.
Newto The Street’s305thT.V.show,airstonight,Monday,February 14, 2022, 10:30PM PT, on the Fox Business Network,featuresthefollowingfour (4)Companies and their businesses representatives:
1).Tonix Pharmaceuticals, Inc.’s(NASDAQ: TNXP) interview, Dr. Seth Lederman, M.D., CEO.
2). Cryptocurrency –KamPay Tech Ltd.’s(CRYPTO: KAMPAY)($KAMPAY)interview with Mr. Chris Cleverly, CEO.
3).Sekur’s®(a GlobeX Data, Ltd. business division)“SPECIAL SEGMENT-Weekly Hack”interview with internet privacy expert Mr. Alain Ghiai, CEO.
4).PetVivo Holdings Inc.’s(NASDAQ: PETV) interview, Mr. John Lai, CEO & President.
New to The Street T.V. again,tonight, Monday, February 14, 2022, airs the CEO atTonix Pharmaceuticals, Inc. (NASDAQ:TNXP), Dr. Seth Lederman, M.D.’s interview with T.V. Anchor Jane King. Dr. Lederman gives the New to The Street T.V. audience an update about Tonix Pharmaceuticals, Inc.’s Covid-19 vaccine, antiviral pharmaceutical, and “Long” Covid-19 novel treatments and products. Currently, in the market, there are three (3) types of treatments in the fight against Covid-19: mRNA vaccines, antiviral therapies, and monoclonal antibodies. Seth gives a comparison and talks about the limitations of each available Covid-19 treatment. TNXP’s live vaccine,TNX-1800, in development, offers long-term protection beyond the currently used mRNA vaccines. Another in development therapy, the Company’sTNX-3500, an oral antiviral pharmaceutical, clinically shows about 65 times more potent thanremdesivirin inhibiting Covid. Tests combining TNX-3500 and remdesivir shows a robust protective solution. TNX-3500 is an investigational new drug not yet approved for use. Seth talks about the Company’s upcoming clinical trials on its treatment for “Long Covid.” With its new40,000+ sq. ft. location in Frederick, Maryland, a known biotech /biodefense sector area in the U.S., the facility and its personnel allow ongoing clinical trials and scientific development programs with economies of scale operational efficiencies and effectiveness. Seth sees Tonix Pharmaceutical as an innovator in the fight against Covid and other diseases.
New to the Street T.V. welcomes ontonight’sMonday, February 14, 2022,show Mr. Chris Cleverly, CEO atKamPay Tech Ltd(CRYPTO: KAMPAY)($KAMPAY), a cryptocurrency Company with a digital footprint in the African continent. In his interview with T.V. Anchor Jane King, Chris explains his personal and business interests in Africa and his Company, KamPay Tech Ltd. Digital currencies work in Africa for several reasons, and KamPay’s token, $KAMPAY, provides a must-needed basis and solution for the financial well-being of many. African citizens lack reliable legacy financial platforms and the financial outlets that do exist charge outrageously high-interest rates. People, farmers, and businesses are using crypto and adopting its many benefits faster than anywhere else on the planet. Chris talks about how mobile money payment platforms were developed and used a full ten (10) years successfully before being adopted in the USA. Due to the influences of the large multibillion-dollar banking entities, U.S. banks were hesitant on mobile payment platforms. Since Africa has no real entrenched financial legacy industry, Crypto adoption rates are soaring throughout the continent. With a young population demographic, Africa is the second-largest trader of Bitcoin, second to the USA. The KimPay token provides a payment system for countries with weak currencies, overcomes inflationary issues, making cross-border trade transactions seamless.
New to The Street, airstonight,Monday, February 14, 2022,its“SPECIAL SEGMENT”show aboutSekur®,(aGlobeX Data, Ltd. division) with the internationally acclaimed internet privacy expert, Mr. Alain Ghiai, CEO. Talking with T.V. Anchor Ana Berry, Alain enlightens the viewers with his“WEEKLY HACK”interview, giving another real-world problem. Tonight, Alain talks about emailed PowerPoint presentations loaded with malware. Social engineered emails targeted individuals with specific interests receive enticing emails with attached PowerPoint presentations. Malware is loaded onto the system when the unsuspected recipient opens that attachment. Open-source platform emails like Microsoft Exchange and Gmail are susceptible to these attacks. The open-source code used repeatedly by millions of end-users for many years causes these email platform vulnerabilities hackers use to steal your data. As always, Alain explains and emphasizes how GlobeX Data, Ltd. operates its internet platforms and security businesses under the country of Switzerland’s very tough privacy laws. ASekur® accountwith the Sekur send/receive feature gives end-users a security feature to eliminate hacking. GlobeX Data’s email servers are owned and controlled by the Company. They have no 3rdparty sharing, no outsource coding, no integration sharing with outside apps, and no open-source coding. These features can provide a secure email for both businesses and individual use without the fear of open-source hacking. For only $7.00 a month, an individual can enjoy these security features. The Sekur email for businesses, a web-based platform, is available, and the easy-to-use no-web app will be available to subscribers at the end of March 2022. As the hacking problems continue, the proper solution is to subscribe on a monthly or yearly basis toSekurSuite®andSekur®products for both individual and corporate uses. Next week, Alain is back with more…What is the price of your privacy worth?
New to The Street T.V.,tonight, Monday, February 14, 2022,again airs T.V. Anchor Jane King’s interview with Mr. John Lai, CEO and President,PetVivo Holdings Inc.(NASDAQ: PETV). Mr. Lai talks about the Company’s most recentAAEP (American Association of Equine Practitioners) trade show experiencein December 2021, held in Nashville, TN. TheCompany exhibited PETV’sbiomedical devices and its osteoarthritis treatment available to millions of dogs and horses. Many veterinary interests came from the show, and John told viewers that the U.S. Olympic Equestrian veterinary visited their trade booth. The Company receivedrepeat orders of its Spryng™ with OsteoCushion™ Technology(Spryng™) from introductions made at this Nashville show. Thepatented Spryng™product is an injectable treatment for Osteoarthritis and joints, which mimics cartilage and tissue, improving mobility and alleviating pain and inflammation. John informed viewers thatvetcove.com, an online product site for veterinarians, now carries Spryng™. The U.S. market for Osteoarthritis treatments grows at an annualized rate of over 5%, currently at $4.8B. Withpet ownerswilling to spend thousands of dollars for the well-being of their pets, Mr. Lai explains the humanization process by pet owners and why he sees this upward trend continuing in pet care spending. John gives his 2022 expectations at PetVivo, as its product lines expand into other domestic and exotic animal species and the roll-out of the osteoarthritis treatment designed for cats.
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New to The Street’s306th show airing, tomorrow night, Tuesday, February 15, 10:30 PM PT, on the Fox Business Network, features the following four (4) Companies and their businesses representatives:
1). Cryptocurrency –Alkimi’s(CRYPTO: $ADS) ($ADS)interview, Mr. Ben Putley, CEO.
2). Cryptocurrency –Sonar -Resonance Labs Ltd.’s(CRYPTO: PING) ($PING)interviews, Mr. Michael Wood, CFO, and Mr. Cristiano Troffei, Chief Innovation Officer (CIO).
3). Cryptocurrency –Sportemon Go’s(Crypto: SGOX) ($SGOX)interview, Mr. Ricky Jackson, CEO.
4).GlobeX Data, Ltd.’s(OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) interview with Mr. Alain Ghiai, CEO.
Once again, New to The Street T.V. airstomorrow, Tuesday, February 15, 2022,Anchor Jane King’s interview with Mr. Ben Putley, CEO atAlkimi(CRYPTO: $ADS) ($ADS). Ben enlightens the T.V. viewers about Alkimi, the world’s first decentralized ad exchange, rewarding users, publishers, and advertisers. With his background in digital ads, Ben compares eBay and Alkimi, whereas bidding wins in an auction setting. Ben explains that your data is the product onW3 (Web 3.0),and Alkimi gives you the tools to make money off your data footprint. Alkimi users now have a voice and can monetize their internet browsing activities with Alkimi’s new digital advertising ecosystem. Users, advertisers, and publishers create significant operational and financial performances through its media exchange auction, beyond the centralized ad platforms dominated by Google and Meta (Facebook). Ben states, “You are the product.” The Alkimi Exchange platform creates a more effective ad, is less costly, and is a disruptive shift from centralized web ad platforms. Transactions on the Alkimi Exchange required the Company’s $ADS token. Ben gives his projections on metaverse ads. He talks about the $ADS token and other NFTs used for unique marketing campaigns to provide rewards, discounts, and interexchange platform uses.
New to The Street’s T.V. Anchor Ana Berry welcomes back, tomorrow, Tuesday, February 15, 2022,Mr. Michael Wood, CEO, and Mr. Cristiano Troffei, Chief Innovation Officer (CIO) atSonar-Resonance Labs Ltd.(CRYPTO: PING) ($PING)(“Sonar”) to New to The Street. Cristiano explains the Sonar platform and what makes it uniquely different from competitors. The software application makes it a user-friendly experience, educating individuals and the users to obtain tools to grow as a crypto investor.Sonar’s technological designand friendly user experience came from Cristiano’s inspirations and influences from Apple products and his years of experience in technology designs and development. Michael talks about the “DYOR- Do Your Own Research,” which is very cumbersome without having access to Sonar’s information tools. Most due diligence for a crypto investor on coins, NFTs, and tokens can take many hours to visit multiple sites. Sonar brings a vast number of educational resources and financial tools as one application. As mass crypto adoption nears, having a basket of resources in one platform regarding blockchain reports, transactions, trade data, analytics, Defi access tools, and other essential matrices, Sonar’s real-time information is necessary for any crypto investor. Their crypto tracking dashboard with numerous functions gives excellent and reliable data, giving a crypto investor confidence to make informed and timely decisions.
New to the Street T.V.,tomorrow, Tuesday, February 15, 2022, welcomes back to the show, Mr. Ricky Jackson, CEO atSportemonGo(Crypto: SGOX) ($SGOX).Anchor Jane King and Ricky Jackson talk about the Company’s unique cryptocurrency, with a purpose to revolutionize both the interactive gaming, NFT collectible, and broader sport experience industries. He explains SportemonGo’s blockchain tokenized sports, NFTs, Metaverse, and betting. The Company successfully minted its first Premier League Soccer (Football) league star and released the NFT from itsSporteNFT Marketplaceplatform. The Company’s metaverse platform allows users to participate in Greyhound dog and Formula One racing games. Through NFTs, users can own, sell, buy, rent, place bets, own racecourses on Def1 car racing andMetaRaceWorld dog racingplatforms. As an end-to-end sports Company with a management team with years of experience, SportemonGo continues to evolve with new and exciting sports crypto user opportunities. Ricky sees a strong future ahead for SportemonGo.
Mr. Alain Ghiai, CEO,GlobeX Data, Ltd.(OTCQB: SWISF) (CSE: SWIS) (FRA: GDT), is back for his weekly New to The Street T.V. interview with T.V. Anchor Jane King, which airstomorrow, Tuesday, February 15, 2022.Jan asked Alain about a recent federalALERTfrom theU.S. Cybersecurity and Infrastructure Security Agency (CISA), a U.S. Department of Homeland Security division, over a software bug in Windows that causes hacking on U.S. federal computer systems. The agency wants all of the federal systems upgraded with a software patch. With geopolitical tensions worldwide, especially in Europe regarding Ukraine, the Foreign State-sponsored and “For Hire” hacking is part of the global instabilities. Intellectual property owned and controlled by universities, government, and businesses are the hackers’ targets for access to their proprietary data and sciences. Alain updates the ever-growing corporate fundamental at GlobeX Data, Ltd and itsSekurSuite®cybersecurity products, providing a status on its audited financial statements for year-end 2021, with expected completions before the conclusion February 2022. Once done, the Company finishes the necessary qualifications needed to up-lift the Company’s stock trading platform ontoOTCQX. The OTCQX is the highest tier trading platform offered atOTC MARKETS, a highly creditable platform, with many large multinational corporations listed. Alain expects to be in New York City in March 2022 to do a live in-studio interview with New to The Street and visit several investment bankers. His goal is to list the Company’s stock on theNASDAQmarket in the future. Thebillboard outside the NASDAQ buildingdisplays a GlobeXData’s Sekur ad; Alain looks forward to a photo of himself with the background of the ad and building.
About Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP):
Tonix Pharmaceuticals Holding Corp.(NASDAQ: TNXP) is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring, and developing small molecules and biologics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio comprises of immunology and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes a COVID-19 platform of product candidates to prevent and treat COVID-19, treat Long COVID, and detect functional T cell immunity to COVID-19. Tonix’s lead vaccine candidate for COVID-19, TNX-18001, is a live replicating vaccine based on Tonix’s recombinant pox vaccine (RPV) platform to protect against COVID-19, primarily by eliciting a T cell response. Tonix reported positive efficacy data from animal studies of TNX-1800 in the first quarter of 2021 and expects to start a Phase 1 study in humans in the first half of 2022. TNX-35002(sangivamycin) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-Investigational New Drug (IND) stage of development. TNX-102 SL3(cyclobenzaprine HCl sublingual tablets) is a small molecule drug in development to treat Long COVID, a chronic condition, and is also in the pre-IND stage. Finally, Tonix is developing TNX-21004, anin vivodiagnostic to measure the presence of functional T cell immunity to COVID-19. Tonix intends to initiate a first-in-human clinical study of TNX-21004in the fourth quarter of 2021, pending IND clearance. Tonix’s immunology portfolio also includes biologics to address immunosuppression, cancer, and autoimmune diseases. The Company’s CNS portfolio consists of small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL3, is in mid-Phase 3 development to manage fibromyalgia, with a new Phase 3 study expected to start in the first half of 2022. TNX-13005is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the first quarter of 2022.-https://www.tonixpharma.com(1TNX-1800 is an investigational new biologic and has not been approved for any indication. TNX-1800 is based on TNX-801, live horsepox virus vaccine for percutaneous administration, which is in development to protect against smallpox and monkeypox. TNX-801 is an investigational new biologic and has not been approved for any indication.2TNX-2100 is an investigational new biologic and has not been approved for any indication.3TNX-3500 is an investigational new drug at the pre-IND stage of development and has not been approved for any indication.4TNX-102 S.L. is an investigational new drug and has not been approved for any indication.5TNX-1300 is an investigational new biologic and has not been approved for any indication).
AboutKamPay Tech Ltd(CRYPTO: KAMPAY)($KAMPAY):
KamPay Tech Ltd(CRYPTO: KAMPAY)($KAMPAY)is a utility token and currency explicitly designed for smartphone users that capitalize on high mobile uptake across a region. The wallet is a lightweight mobile and desktop application allowing users to send, receive and interact $KAMPAY from any location with the network coverage. The KamPay Wallet is a multi-currency mobile and desktop client with a built-in messaging application to store BTC, ERC-20, and BSC tokens. The open-source KamPay Wallet will allow safe, secure, and large-scale participation in the digital economy across Africa, with low technical and transactional barriers to participation. The KamPay Wallet supports ERC-20 and BSC tokens, allowing users to store the native assets of applications available on the KamPay platform. The Company’s objective is to help foster a thriving community of merchants, shoppers, traders, promoters, players, and other ecosystem participants who all have a stake in KamPay and benefit from helping the project growhttps://www.kampay.io/.
About GlobeX Data, Ltd. (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT):
GlobeX Data, Ltd.(OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) is a Cybersecurity and Internet Privacy provider of Swiss hosted solutions for secure communications and secure data management. The Company distributes a suite of secure messaging applications, encrypted emails, secure communications, and secure data management tools, using Swiss privacy laws, proprietary technology, and its independent platform, away from big tech's hosting platforms. GlobeX Data, Ltd. sells its products through approved wholesalers, distributors, and telecommunications companies worldwide. GlobeX Data, Ltd. serves consumers, businesses, and governments worldwide –https://www.globexdata.com.Sekur®is a Swiss secure communications application offering secure and private messaging, emails, voice messages, self-deleting messages, and file transfers from any mobile device, tablet, or desktop. Sekur users can communicate with Sekur and non-Sekur users through its unique Chat-By-Invites feature and Sekur, send email system. All data traffic stays in GlobeX Data’s Swiss-hosted servers, using its proprietary HeliX technology, military-grade encryption, and benefiting from Swiss Privacy Laws –https://sekur.com& Twitter:@globexdata.
About PetVivo Holdings, Inc. (NASDAQ: PETV):
PetVivo Holdings, Inc.(NASDAQ: PETV) is an emerging biomedical device company currently focused on manufacturing, commercialization, and licensing innovative medical devices and therapeutics for companion animals. The Company’s strategy is to leverage human therapies to treat companion animals in a cost and time-efficient way. A vital component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a pipeline of seventeen products to treat animals and people. A portfolio of twenty-one patents protects the Company’s biomaterials, products, production processes, and use methods. The Company’s lead productSpryng™,a veterinarian-administered, intraarticular injection for the treatment of lameness and other joint-related afflictions, including Osteoarthritis, in dogs and horses, is scheduled for expanded commercial sales -https://petvivo.com/.
About Alkimi(CRYPTO: $ADS) ($ADS):
TheAlkimi(CRYPTO: $ADS) ($ADS)is a decentralized advertising exchange built on the Constellation Network’s Hypergraph. Using the OpenRTB standards for programmatic advertising, Alkimi Exchange hosts a media exchange auction in real-time on the Hypergraph, a hosted state channel, AlEx. AlEx is the state channel facilitating a programmatic exchange that provides cost savings and fraud prevention for all stakeholders in the advertising industry: users exposed to digital advertising, publishers that host advertising, and advertisers that buy digital media. Alkimi Exchange is the first digital advertising. An immutable record of all media servings and engagements are recorded on a blockchain and ushered in accountability for the new digital advertising paradigm -https://alkimiexchange.com/.
About Sonar(CRYPTO: PING) ($PING):
Sonar -Resonance Labs Ltd(CRYPTO: PING) ($PING)(“Sonar”) is a dynamic, all-in-one crypto tracking platform aiming to simplify and accelerate online investments. The platform’s analytical ecosystem provides a safe place for users to research, manage, and decide on their current and future crypto investments by providing complete transparency and traceability. It features a central platform of analytics tools, a web3 wallet, and educational content -https://www.sonarplatform.io/.
About SportemonGo(Crypto:SGOX) ($SGOX):
SportemonGo(Crypto: SGOX) ($SGOX):was founded in 2021 by Ricky and Corey Jackson. With illustrious backgrounds in sports marketing and sporting software, the pair envisaged the creation of a platform to stand as a world premiere in NFT augmented reality sports trading. To revolutionize both the gaming and NFT collectible industries, SportemonGo will enable its users to hunt and collect NFTs of their favorite sporting heroes in real-time. Users will interact at stadiums and sporting events like never before, creating the perfect synergy between the current world and the metaverse. SportemonGo is funded solely through its cryptocurrency, a BEP20 token leveraging a smart contract on the Binance Blockchain network. This native cryptocurrency will power the entire economy within the platform allowing users to purchase NFT collectibles, form their ultimate team, participate in mini-games, earn rewards, and much more -https://sportemongo.com/.
About FMW Media:FMW Media operates one of the longest-running U.S. and International sponsored and Syndicated Nielsen Rated programming T.V. brands “New to the Street” and its blockchain show “Exploring The Block.” Since 2009, these brands have run biographical interview segment shows across major U.S. Television networks. The T.V. platforms reach over 540 million homes in the U.S. and international markets. FMW’s New to The Street / Newsmax T.V. broadcasting platform had its first show broadcast Sunday, December 27. The New to The Street / Newsmax T.V. show airs its syndication on Sundays at 10 -11 AM EST. FMW is also one of the nation’s largest buyers of linear Television long and short-form -https://www.newsmaxtv.com/Shows/New-to-the-Street&https://www.newtothestreet.com/.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
FMW Media Contact:Bryan Johnson+1 (631) [email protected]
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A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/96b8df59-2c65-4355-af6c-a93313d11b08 || Will Maker DAO’s Developer Incentivization Favor Short-term Price Rise?: Taking the market by surprise, MakerDAO , the decentralized organization (DAO) behind the DAI stablecoin , recently announced that it will start offering a maximum of $10 million bounty to ethical hackers and cybersecurity specialists who are able to point out legitimate security threats in its smart contracts. The Larger Bug Bounty MakerDAO is set to roll out a bug bounty program with Immunefi, the leading crypto security services platform, promising a record payout of $10 million to whitehat hackers. The platform plans to front-run attacks on its smart contracts is the largest ever bounty with a maximum single payout of $10 million in DAI. With that MakerDAO’s bug bounty program claims to be not only the largest hosted on Immunefi but also the biggest in the entire tech space. Notably, Immunefi’s website claims the bugs found have averted up to $20 billion in damages from hacks. For now, as per reports by Immunefi, Whitehat hackers stand to gain payouts ranging from $1,000 for low-level vulnerabilities going up to a maximum of $10 million for critical issues found in Maker’s smart contracts and apps. The payouts are set to be made in DAI stablecoins. Notably, the next largest bug bounty on Immunefi is a $3.3 million bounty from Olympus DAO, which was launched in January. The platform’s largest payout of $2 million was awarded to a security researcher who found a critical vulnerability in the Polygon Plasma Bridge last year. Can This Push Maker Price? MakerDAO’s token MKR has often reacted well to larger market runs as well as ecosystem-centric developments. Yet again, after MakerDAO was in news due to its latest bug bounty program, there was an anticipation of a price rise for MKR among holders. However, due to Bitcoin’s price rejection at the $44.5K mark, the larger market’s trajectory turned southward. MKR much like most of the altcoins noted over 5% daily losses and close to 10% drop in price by the week. As the token traded at $2,113, Maker’s larger market dependence in terms of price could be seen. Story continues Notably, MKR could see good long-term growth with developer incentivization programs like the bug bounty recently announced. However, in the short term, the MKR price trajectory could be dependent on BTC and the larger marker. This article was originally posted on FX Empire More From FXEMPIRE: EU Commission and the ECB Inch Closer to a Digital EUR GBP/USD Pulls Back After Bullard’s Comments Crypto Ransomware Payments Could Hit $1bn in 2021 After Losing $80 Million, Qubit Surrenders Authority to Community DAO E-Mini S&P: Momentum Shifts Lower on Trade Through 4438.50 CBDC Trumps Visa for Payment at the Winter Olympics in China || First Mover Asia: China’s Potential SWIFT Competitor CIPS Won't Help Russia Much; Bitcoin, Ether Rise Again: Good morning. Here’s what’s happening:
Markets:Cryptos continued their momentum from Monday.
Insights:China's interbank payment system lacks the reach to replace SWIFT.
Technician's take:BTC buyers could remain active at lower support levels, particularly at $40K.
Andsign up for First Mover,our daily newsletter putting the latest moves in crypto markets in context.
Bitcoin (BTC):$44,224 +2.5%
Ether (ETH):$2,959 +1.7%
Top Gainers
[{"Asset": "Bitcoin", "Ticker": "BTC", "Returns": "+2.7%", "Sector": "Currency"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "+2.1%", "Sector": "Computing"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "+1.9%", "Sector": "Smart Contract Platform"}]
Top Losers
[{"Asset": "Internet Computer", "Ticker": "ICP", "Returns": "\u22124.1%", "Sector": "Computing"}, {"Asset": "Filecoin", "Ticker": "FIL", "Returns": "\u22122.8%", "Sector": "Computing"}, {"Asset": "Bitcoin Cash", "Ticker": "BCH", "Returns": "\u22121.8%", "Sector": "Currency"}]
Bitcoin, ether and other major cryptocurrencies continued their momentum from Monday even as Russia escalated its efforts to take control of Ukraine.
On Tuesday, a 40-mile-long Russian convoy of armored vehicles, tanks and towed artillery chugged relentlessly toward Kyiv. Ukraine's capital and Kharkiv, its second largest city, were rocked by rocket explosions as an estimated half-million people, including foreign nationals who study and work in Ukraine, fled the country.
Crypto's performance veered markedly from equities, particularly risk-on stocks. Among the major indexes, the S&P 500 and tech-heavy Nasdaq fell 1.6% and 1.5%, respectively. A number of analysts say that the invasion has highlighted cryptos' potential usefulness for investors.
According to an estimate by Forklog, a Russian-language crypto news outlet, various organizations raising crypto for Ukraine have received over $58 million in donations over the past six days. And Arcane Research in a Tuesday report wrote that Ukrainians were "buying crypto as never before," fearful that the country's banking system "may collapse."
Meanwhile, Russian investors have been looking at crypto as a workaround to economic sanctions by the European Union and U.S. In its report, Arcane Research wrote of a "massive increase in the ruble pairs on Binance, particularly in USDT," and in bitcoin volume. The group speculated that Russians were seeking "stablecoins to get dollar exposure ahead of possible sanctions directed toward Russian crypto traders," or because "market makers seeking to eliminate their ruble exposure."
At the time of publication, bitcoin was trading at about $44,200, up about 3% over the past 24 hours. Ether, the second-largest cryptocurrency by market cap, was changing hands at a little below $3,000, a more than 2% increase. Almost all other altcoins in the CoinDesk top 20 by market cap were trading higher, with SHIB and SAND both up about 5%.
"Investors are speculating that crypto will become increasingly important as apolitical, trustless money in a time of escalating geopolitical uncertainty," Arcane Research wrote.
S&P 500: 4,306 -1.5%
DJIA: 33,294 -1.7%
Nasdaq: 13,532 -1.6%
Gold: $1,945 +1.9%
Wannabe SWIFT competitor CIPS doesn't have the reach to help Russia much
As the reality of sanctions sinks in for Russia – an energy superpower and a top 15, global economy – so do the warnings that this is a moment for China’s financial infrastructure to shine.
China’s Cross-Border Interbank Payment System (CIPS) can step up to the occasion to replace the SWIFT interbank messaging service, argued some observers, for Russian banks that are now disconnected from the world.
“When payment systems are politicized, then you have to be sure you're on the right side of the leviathan at all times,” ishow one ex-venture capitalistput it in his Twitter thread.
(It's unclear if the civilians in Ukraine who are being bombed think of their situation as being "politicized" or have a stronger term for it.)
Despite numerous calls that these sanctions are the beginning of the twilight of dollar hegemony, China’s financial infrastructure just isn’t up to the task of replacing it.
It’s important to remember just how small CIPS really is.
According to datapublished on its website, the service pushed through 388 billion RMB, or $61 billion a day, in February.Binancedoes that in turnover in less than 72 hours, and FTX, another crypto exchanges, does it in 18 days.
Of course, those comparisons are specious; Binance CEO Changpeng Zhou and FTX Trading CEO Sam Bankman-Fried aren’t our new financial overlords. They just run exchanges. We aren’t going to pay for things in Binance’s BNB or BUSD tokens.
But the idea that CIPS could seriously compete with SWIFT is also specious when some crypto exchanges are already larger entities.
The system still relies on SWIFT for messaging (the bank-to-bank ledgers that show fund transfers). While CIPS can do transfers within China and Hong Kong, moving funds abroad requires SWIFT’s rails. And that’s going to make the whole operation redundant as sanctioned Russian banks can’t touch SWIFT.
So then how big is CIPS compared to SWIFT? Really, really small.
According to its own stats, SWIFT pushes through 50 million messages a day compared with CIPS' 15,000. And its daily volume? SWIFT messagesenable $5 trillionto move worldwide each day.
SWIFT counts 11,000 members as institutions. CIPS has 75 direct participants and 1,205 indirect participants. There just isn’t a comparison in size and scale.
If there’s a ‘bull case’ for CIPS rocketing to the moon and taking on SWIFT, there’s also a case – maybe even a stronger one – of Ripple’s RippleNet messaging service doing the same. Yes, the same Ripple that’sbeing suedby the U.S. Securities and Exchange Commission. Ripple CEO Brad Garlinghouse recently reported on Twitter that the network is about toeclipse the $10 billion markin volume and continues to grow.
The important thing is that the underlying currencies used on the RippleNet are liquid. China’s yuan is not. For CIPS to challenge the world, there needs to be a freely convertible currency behind it.
Bitcoin Bounce Stalls, Resistance Between $44K and $46K
Bitcoin has rallied 13% over the past week as bearish sentiment waned. The cryptocurrency, however, faces immediate resistance at $44,000 to $46,000, which could stall the price recovery over the short term.
The relative strength index (RSI) on the four-hour chart is overbought, similar to what occurred in early February, which preceded a pullback in price. This time, however, there has been a significant loss of downside momentum, which means buyers could remain active at lower support.
For now, bitcoin is stuck in a range of between $37,000 and $46,000, pointing to a potential reversal of a three-month-long downtrend. That means buyingvolumewill need to increase on pullbacks in order to cause a shift in trends.
8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia gross domestic product (Q4/MoM/YoY)
3:45 p.m. HKT/SGT (7:45 a.m. UTC): France budget
5 p.m. HKT/SGT (9 a.m. UTC):U.S. Opec meeting
10:30 p.m. HKT/SGT (2:30 p.m. UTC):Speechby James Bullard, president of the Federal Reserve Bank of St. Louis.
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
How Is Ukraine Using Crypto To Fight Russia? Ukrainian Government Receives Crypto Donations Worth $16.8M
"First Mover" went to Ukraine for on-the-ground interviews as the war with Russia intensified. Guests included Michael Chobanian, founder of Ukrainian crypto exchange Kuna, Ukrainian lawyer Artem Afian, who has close ties to Ukraine government officials, and Tanvi Ratna of Policy 4.0. Also, CoinDesk Managing Editor for Global Policy and Regulation Nik De discussed U.S. sanctions and Starlink terminals arriving in Ukraine.
'Absolutely Surreal': Inside a Fund Raising Millions in Crypto for Besieged Ukraine:The Unchain fund has raised $1.8 million and plans to launch a DAO this week, even as team members live with sirens, explosions and artillery barrage following the Russian invasion.
Bitcoin HODLers Unfazed by Macro and Geopolitical Risks:These three charts show investors are holding onto their cryptocurrency for future profits rather than selling.
Ukraine's Defense Ministry Decides Where Crypto Funds Are Spent:The government's crypto fund has received donations worth $16.8 million.
Ukraine Asks Binance, Coinbase, 6 Other Crypto Exchanges to Block Russian Users:Earlier today, U.S. authorities added regulations aimed at thwarting the use of digital currencies and assets to evade sanctions.
Electric Capital Raises $1B for 2 New Crypto VC Funds:Long-term investing and public goods will be a focus for the two new funds from what had been a smaller player in the world of crypto VC.
NFTs Are the Latest Crypto Tax Events Nobody Understands:Casual collectors may be in for a rude awakening this year. This piece is part of CoinDesk's Tax Week.
Today's crypto explainer:5 Essential Questions About Crypto Taxes
Other voices:National Security Implications of Virtual Currency(Rand Corporation)
"Harder than it might sound for Russia to use #crypto in skirting sanctions🏦 - Liquidity = big issue 💸(h/t @ashgoblue ) - Global exchanges on high alert for sanctioned accts, subject to KYC/ AML rules 👀- Transactions are traceable." (CNBC correspondent Kate Rooney) ... "On the train to from Lviv to Krakow, a violinist plays for the packed train car during a journey that took ~28 hours, said Sofia Kedruk, who arrived in Krakow Monday and shot this video while on the train. #ukraine." (Katelyn Ferral, USA reporter covering the Russian invasion) ... "Fake news is often less about getting people wholeheartedly to believe a false narrative, than simply sowing distrust of credible facts and institutions. It’s a messy business, and one that needs serious investigation." (CoinDesk columnist Daniel Kuhn) || EnergyFunders Launches Two New Investment Funds Targeting Oil & Gas Projects and Bitcoin Mining: EnergyFunders is the first-ever digital platform offering access to direct oil and gas investments and off-grid Bitcoin mines. Featured Image for EnergyFunders Featured Image for EnergyFunders Featured Image for EnergyFunders SAN ANTONIO, Feb. 01, 2022 (GLOBE NEWSWIRE) -- EnergyFunders announces the opening of two new energy and Bitcoin funds, available to accredited investors. The company is building upon the recent success of their Yield Fund I - their largest fundraising effort to date. The Wildcat Pioneer Fund will invest in unproven, undrilled oil and gas wells. The Fund's strategy draws upon the geological and engineering acumen of the EnergyFunders team, including veteran geologist and CEO Laura Pommer. The company will also consult with trusted third party analysts in assessing geological, engineering and financial risk. With proper due diligence, the company believes it can offset the greater risks of "wildcatting" by identifying prospects with excellent upside potential. The Bitcoin Discovery Fund will be the first-of-its-kind offering, allowing investors to own a portion of an off-grid Bitcoin mine. The company believes its Bitcoin mines will enjoy substantial cost advantages from using natural gas directly from the wellhead to power mobile Bitcoin units. Based on current estimates, the projected potential IRRs of this Fund could exceed 100%. "We are thrilled to be the only player in the market offering crowdsourced ownership of Bitcoin mines directly to consumers," says EnergyFunders CEO Laura Pommer. "Now investors can accumulate Bitcoin at potentially below-market prices through their ownership in our Bitcoin mines." Pommer says the Wildcat Pioneer Fund is an excellent option for those looking to tap into the typically inaccessible oil and gas investing space. "Even though wildcatting can be riskier, it can also have extremely high returns if you are able to use technology and experience to identify unproven to less proven oil reserves, which is what we hope to do." Story continues It's also important to note that direct energy investing can offer some of the most lucrative tax deductions in the entire U.S. tax code. EnergyFunders' oil and gas investments allow eligible investors to potentially capitalize on these unique tax savings. Potential investors can contribute to either of these funds by creating an investment profile on the company's website at www.EnergyFunders.com . ### About EnergyFunders: EnergyFunders is an industry-leading investment firm offering private-market energy deals, sourced and vetted by industry experts. The company's funds include investments into oil and gas wells, as well as mobile Bitcoin mining units powered by wellsite natural gas. By removing the middlemen between investors and the wellhead, the company offers consumers direct ownership in oil wells and Bitcoin mines, plus their associated high returns. Investors in EnergyFunders may also enjoy lucrative tax deductions from direct oil and gas ownership, plus passive monthly income, high IRRs, and inflation protection. To invest or to learn more, please visit www.EnergyFunders.com . Photography, B roll, and additional assets are available on the company's Media Kit here. Media Contact: Aquila Mendez-Valdez [email protected] 210.606.5251 Related Images Image 1 This content was issued through the press release distribution service at Newswire.com . Attachment Featured Image for EnergyFunders || First Mover Asia: Bitcoin Slips Under $46K as Volume Across Major Centralized Exchanges Remains Low: Good morning. Here’s what’s happening: Market moves: Bitcoin opened lower on the first trading day of the year in U.S. equities markets, while the stock market gained with Apple briefly hitting a $3 trillion market capitalization. Technician’s take: Price indicators suggest limited downside for BTC over the short term as selling pressure slows. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin ( BTC ): $46,343 -2.29% Ether ( ETH ): $3,755 -1.84$ Markets S&P 500: 4,796 +0.64$ DJIA: 36,5856 +0.68% Nasdaq: 15,832 +1.2% Gold: $$1,803 -1.38% Market moves Bitcoin, the world’s oldest cryptocurrency, was trading below $46,000 at the time of writing, down by nearly 3% in the past 24 hours. “It’s pretty much been choppy since that big drop in the beginning of December,” Andrew Tu, business development manager at crypto quant trading firm Efficient Frontier, told CoinDesk in a Telegram message. Bitcoin has “been ranging $46,000-$51,000 for a month or so now… most of major [tokens] have been following the trend.” Bitcoin’s spot trading volume across major centralized exchanges remained low on Monday, nowhere near its pre-holiday levels, based on data compiled by CoinDesk. CoinDesk/CryptoCompare An “absence of trading activity is likely to be one of the reasons for the overall crypto market’s “bearish pullback” over the past week, according to crypto trading data firm Kaiko. While bitcoin is viewed by some market participants as “a risk-on asset” similar to stocks , the S&P 500 opened its first trading day of the year higher, with electric car maker Tesla’s stock skyrocketing and Apple’s market capitalization briefly touching $3 trillion . Risk-on refers to a situation where investors are willing to invest in assets with higher risks like equities, commodities and currencies. That typically happens when the economy is expected to fare well. But according to Wall Street Journal , Monday’s stock rally is also associated with the new year as stocks tend to rally at the start of new calendar periods due to “new money” like pension funds that invest when a new period starts. Story continues Efficient Frontier’s Tu said “macro uncertainty” remains the main factor of bitcoin’s choppy move. The Federal Reserve in the U.S. in December signaled three interest rate hikes in 2022 and said it will move faster to wind down its bond purchases in response to elevated inflation pressures. As CoinDesk reported , a tightened monetary policy is typically considered as bearish for assets, bitcoin included. Technician’s take Bitcoin Stuck in Range Between $45K Support and $52K Resistance Bitcoin's daily price chart shows support and resistance with RSI on bottom panel (Damanick Dantes/CoinDesk, TradingView) Bitcoin is off to a slow start as traders ring in the new year. The cryptocurrency is down about 8% over the past week as demand from buyers slowed. The current price of around $46,000 is near the bottom of a two week-long price range, which previously led to higher bids for BTC. The relative strength index ( RSI ) on the daily chart is rising from an oversold level reached on Dec. 10. That suggests selling pressure is starting to wane, especially as downside exhaustion signals appeared on the daily chart for the first time since July. BTC will need to return above its 200-day moving average, currently at $47,962, to yield further upside targets. The next level of resistance is seen at around $52,000, which could limit short-term gains. Important events 10:00 a.m. ET (2 p.m. HK/Sing) ISM manufacturing index 10 a.m. ET (2 p.m. HK/SING) Job openings November CoinDesk TV In case you missed it, here are the most recent episodes of “First Mover” on CoinDesk TV: Crypto Markets Update and Outlook, Layer 2 Solutions to Improve Ethereum Performance “First Mover” dove into crypto markets on the first day stock markets opened in the new year. Joining us to discuss the general 2022 crypto outlook, questions about the inflation-hedge narrative, correlation to the stock market, volatility, decentralized finance (DeFi) and more was Greg Magadini, CEO of Genesis Volatility. Also, Jan Hartmann of Banxa Labs on the progress in deploying layer 2 products to lower Ethereum gas fees and speed up transaction times. Latest headlines Should Western Union Worry About Stablecoins? For now, stablecoins are used mostly in the speculative crypto economy. Will that change? Salvadoran President Bukele Expects Bitcoin to Reach $100K This Year El Salvador adopted bitcoin as an official currency last year. LinksDAO NFT Sale Books First $10M Toward Buying an Actual Golf Course The project sold out a collection of over 9,000 NFTs with a token airdrop for members penciled in for 2022. Longer reads Welcome to the new WIRED Today’s Crypto explainer: How Does Ethereum Work? || El Salvador Using Crypto Software Firm AlphaPoint to Fix Chivo Wallet Problems: El Salvador has been using technology from crypto software firm AlphaPoint to fix a series of problems that have plagued its state-run bitcoin wallet Chivo, the government and the company announced on Tuesday. AlphaPoint started shoring up Chivos problematic front- and back-end infrastructure for its app and payment processing capabilities in December after striking an agreement with the administration of El Salvador President Nayib Bukele, AlphaPoint co-founder and CEO Igor Telyatnikov told CoinDesk. But the parties didn't disclose the arrangement until Tuesday. The change of supplier comes after hundreds of Salvadorans complained that hackers had illegally activated wallets associated with the nine-digit numbers on their identity cards and dozens reported on social media that money had disappeared from their Chivo wallets . AlphaPoint is now providing the technology behind Chivos mobile application, mobile point-of-sale processing, merchant website portal, call-center support software and administrative console, it said in a statement. Telyatnikov said that the majority of complaints about the Chivo Wallet were prior to AlphaPoint's entry. Before AlphaPoint, the operator of bitcoin automated teller machines, Athena Bitcoin, provided the technology infrastructure for the Chivo wallet, Athena Bitcoin told CoinDesk. The company did not specify the reasons for the contract's termination. AlphaPoint has been in operation for nine years and currently has more than 50 clients, although the agreement with El Salvador is its first with a government. According to Telyatnikov, AlphaPoint had unsuccessfully applied to be the software provider for the Chivo wallet before its launch in September. The company said its machine-learning facial recognition and authentication technology verifies wallet users. Its software also is intended to improvesLightning Network integration that accelerates and reduces costs for bitcoin transactions via QR codes and Lightning addresses. According to a tweet published by Bukele on Jan. 19, the Chivo wallet already has 4 million user, in a country with 6.5 million inhabitants. || New to The Street T.V. Announces its Four T.V. Interviews Airing on the Fox Business Network, Tonight, Monday, February 14, 2022, 10:30 PM PT and Tomorrow Night, Tuesday, February 15, 2022, 10:30 PM PT: FMW Media Works Corp New to The Street T.V. Announces its Four T.V. Interviews Airing on the Fox Business Network New to The Street’s 305th T.V. show, airs tonight, Monday, February 14, 2022, 10:30 PM PT, on the Fox Business Network, features the following four (4) Companies:1). Tonix Pharmaceuticals, Inc (NASDAQ: TNXP) 2). Cryptocurrency – KamPay Tech Ltd. (CRYPTO: KAMPAY).3). Sekur’s® (a GlobeX Data, Ltd. business division) “SPECIAL SEGMENT-Weekly Hack” 4). PetVivo Holdings Inc. (NASDAQ: PETV)New to The Street’s 306th show airing, tomorrow night, Tuesday, February 15, 10:30 PM PT, on the Fox Business Network, features the following four (4) Companies:1). Cryptocurrency – Alkimi (CRYPTO: $ADS) ($ADS) 2). Cryptocurrency – Sonar -Resonance Labs Ltd (CRYPTO: PING) ($PING) 3). Cryptocurrency – Sportemon Go (Crypto: SGOX) ($SGOX) 4). GlobeX Data, Ltd. (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) interview with Mr. Alain Ghiai, CEO. NEW YORK, Feb. 14, 2022 (GLOBE NEWSWIRE) -- FMW Media’s New to The Street T.V. , a nationally syndicated business show, announces its televised line-ups tonight, Monday, February 14, 2022, at 10:30 PM PT and Tuesday night, February 15, 2022, at 10:30 PM PT on the Fox Business Network. New t o The Street’s 305th T .V. show , air s tonight, Monday , February 14, 2022 , 10:30 PM PT , on the Fox Business Network , features the following four (4) Companies and their businesses representatives: 1). Tonix Pharmaceuticals, Inc.’s (NASDAQ: TNXP) interview, Dr. Seth Lederman, M.D., CEO. 2). Cryptocurrency – KamPay Tech Ltd .’s (CRYPTO: KAMPAY) ($KAMPAY) interview with Mr. Chris Cleverly, CEO. 3). Sekur’s® (a GlobeX Data, Ltd. business division ) “SPECIAL SEGMENT-Weekly Hack” interview with internet privacy expert Mr. Alain Ghiai, CEO. 4). PetVivo Holdings Inc.’s (NASDAQ: PETV) interview, Mr. John Lai, CEO & President. New to The Street T.V. again, tonight, Monday, February 14, 2022 , airs the CEO at Tonix Pharmaceuticals, Inc . (NASDAQ: TNXP ), Dr. Seth Lederman, M.D.’s interview with T.V. Anchor Jane King. Dr. Lederman gives the New to The Street T.V. audience an update about Tonix Pharmaceuticals, Inc.’s Covid-19 vaccine, antiviral pharmaceutical, and “Long” Covid-19 novel treatments and products. Currently, in the market, there are three (3) types of treatments in the fight against Covid-19: mRNA vaccines, antiviral therapies, and monoclonal antibodies. Seth gives a comparison and talks about the limitations of each available Covid-19 treatment. TNXP’s live vaccine, TNX-1800 , in development, offers long-term protection beyond the currently used mRNA vaccines. Another in development therapy, the Company’s TNX-3500 , an oral antiviral pharmaceutical, clinically shows about 65 times more potent than remdesivir in inhibiting Covid. Tests combining TNX-3500 and remdesivir shows a robust protective solution. TNX-3500 is an investigational new drug not yet approved for use. Seth talks about the Company’s upcoming clinical trials on its treatment for “Long Covid.” With its new 40,000+ sq. ft. location in Frederick, Maryland , a known biotech /biodefense sector area in the U.S., the facility and its personnel allow ongoing clinical trials and scientific development programs with economies of scale operational efficiencies and effectiveness. Seth sees Tonix Pharmaceutical as an innovator in the fight against Covid and other diseases. New to the Street T.V. welcomes on tonight’s Monday, February 14, 2022, show Mr. Chris Cleverly, CEO at KamPay Tech Ltd (CRYPTO: KAMPAY) ($KAMPAY) , a cryptocurrency Company with a digital footprint in the African continent. In his interview with T.V. Anchor Jane King, Chris explains his personal and business interests in Africa and his Company, KamPay Tech Ltd. Digital currencies work in Africa for several reasons, and KamPay’s token, $KAMPAY, provides a must-needed basis and solution for the financial well-being of many. African citizens lack reliable legacy financial platforms and the financial outlets that do exist charge outrageously high-interest rates. People, farmers, and businesses are using crypto and adopting its many benefits faster than anywhere else on the planet. Chris talks about how mobile money payment platforms were developed and used a full ten (10) years successfully before being adopted in the USA. Due to the influences of the large multibillion-dollar banking entities, U.S. banks were hesitant on mobile payment platforms. Since Africa has no real entrenched financial legacy industry, Crypto adoption rates are soaring throughout the continent. With a young population demographic, Africa is the second-largest trader of Bitcoin, second to the USA. The KimPay token provides a payment system for countries with weak currencies, overcomes inflationary issues, making cross-border trade transactions seamless. Story continues New to The Street, airs tonight, Monday, February 14, 2022, its “SPECIAL SEGMENT” show about Sekur®, (a GlobeX Data, Ltd . division) with the internationally acclaimed internet privacy expert, Mr. Alain Ghiai, CEO. Talking with T.V. Anchor Ana Berry, Alain enlightens the viewers with his “WEEKLY HACK ” interview, giving another real-world problem. Tonight, Alain talks about emailed PowerPoint presentations loaded with malware. Social engineered emails targeted individuals with specific interests receive enticing emails with attached PowerPoint presentations. Malware is loaded onto the system when the unsuspected recipient opens that attachment. Open-source platform emails like Microsoft Exchange and Gmail are susceptible to these attacks. The open-source code used repeatedly by millions of end-users for many years causes these email platform vulnerabilities hackers use to steal your data. As always, Alain explains and emphasizes how GlobeX Data, Ltd. operates its internet platforms and security businesses under the country of Switzerland’s very tough privacy laws. A Sek u r® acco u nt with the Sekur send/receive feature gives end-users a security feature to eliminate hacking. GlobeX Data’s email servers are owned and controlled by the Company. They have no 3 rd party sharing, no outsource coding, no integration sharing with outside apps, and no open-source coding. These features can provide a secure email for both businesses and individual use without the fear of open-source hacking. For only $7.00 a month, an individual can enjoy these security features. The Sekur email for businesses, a web-based platform, is available, and the easy-to-use no-web app will be available to subscribers at the end of March 2022. As the hacking problems continue, the proper solution is to subscribe on a monthly or yearly basis to Seku r Suite® and Sek u r® products for both individual and corporate uses. Next week, Alain is back with more… What is the price of your privacy worth? New to The Street T.V., tonight, Monday, February 14, 2022, again airs T.V. Anchor Jane King’s interview with Mr. John Lai, CEO and President, PetVivo Holdings Inc. (NASDAQ: PETV). Mr. Lai talks about the Company’s most recent AAEP (American Association of Equine Practitioners) trade show experience in December 2021, held in Nashville, TN. The Company exhibited PETV’s biomedical devices and its osteoarthritis treatment available to millions of dogs and horses. Many veterinary interests came from the show, and John told viewers that the U.S. Olympic Equestrian veterinary visited their trade booth. The Company received repeat orders of its Spryng™ with OsteoCushion™ Technology (Spryng™) from introductions made at this Nashville show. The patented Spryng™ product is an injectable treatment for Osteoarthritis and joints, which mimics cartilage and tissue, improving mobility and alleviating pain and inflammation. John informed viewers that vetcove.com , an online product site for veterinarians, now carries Spryng™. The U.S. market for Osteoarthritis treatments grows at an annualized rate of over 5%, currently at $4.8B. With pet owners willing to spend thousands of dollars for the well-being of their pets, Mr. Lai explains the humanization process by pet owners and why he sees this upward trend continuing in pet care spending. John gives his 2022 expectations at PetVivo, as its product lines expand into other domestic and exotic animal species and the roll-out of the osteoarthritis treatment designed for cats. ================================================================================================================ New to The Street’s 306th show airing, tomorrow night, Tuesday, February 15, 10:30 PM PT, on the Fox Business Network, features the following four (4) Companies and their businesses representatives: 1). Cryptocurrency – Alkimi’s (CRYPTO: $ADS) ($ADS) interview, Mr. Ben Putley, CEO. 2). Cryptocurrency – Sonar -Resonance Labs Ltd.’s (CRYPTO: PING) ($PING) interviews, Mr. Michael Wood, CFO, and Mr. Cristiano Troffei, Chief Innovation Officer (CIO). 3). Cryptocurrency – Sportemon Go’s (Crypto: SGOX) ($SGOX) interview, Mr. Ricky Jackson, CEO. 4). GlobeX Data, Ltd.’s (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) interview with Mr. Alain Ghiai, CEO. Once again, New to The Street T.V. airs tomorrow, Tuesday, February 15, 2022, Anchor Jane King’s interview with Mr. Ben Putley, CEO at Alkimi (CRYPTO: $ADS) ($ADS) . Ben enlightens the T.V. viewers about Alkimi, the world’s first decentralized ad exchange, rewarding users, publishers, and advertisers. With his background in digital ads, Ben compares eBay and Alkimi, whereas bidding wins in an auction setting. Ben explains that your data is the product on W3 (Web 3.0), and Alkimi gives you the tools to make money off your data footprint. Alkimi users now have a voice and can monetize their internet browsing activities with Alkimi’s new digital advertising ecosystem. Users, advertisers, and publishers create significant operational and financial performances through its media exchange auction, beyond the centralized ad platforms dominated by Google and Meta (Facebook). Ben states, “You are the product.” The Alkimi Exchange platform creates a more effective ad, is less costly, and is a disruptive shift from centralized web ad platforms. Transactions on the Alkimi Exchange required the Company’s $ADS token. Ben gives his projections on metaverse ads. He talks about the $ADS token and other NFTs used for unique marketing campaigns to provide rewards, discounts, and interexchange platform uses. New to The Street’s T.V. Anchor Ana Berry welcomes back , tomorrow, Tuesday, February 15, 2022, Mr. Michael Wood, CEO, and Mr. Cristiano Troffei, Chief Innovation Officer (CIO) at Sonar-Resonance Labs Ltd. (CRYPTO: PING) ($PING) (“Sonar”) to New to The Street. Cristiano explains the Sonar platform and what makes it uniquely different from competitors. The software application makes it a user-friendly experience, educating individuals and the users to obtain tools to grow as a crypto investor. Sonar’s technological design and friendly user experience came from Cristiano’s inspirations and influences from Apple products and his years of experience in technology designs and development. Michael talks about the “DYOR- Do Your Own Research,” which is very cumbersome without having access to Sonar’s information tools. Most due diligence for a crypto investor on coins, NFTs, and tokens can take many hours to visit multiple sites. Sonar brings a vast number of educational resources and financial tools as one application. As mass crypto adoption nears, having a basket of resources in one platform regarding blockchain reports, transactions, trade data, analytics, Defi access tools, and other essential matrices, Sonar’s real-time information is necessary for any crypto investor. Their crypto tracking dashboard with numerous functions gives excellent and reliable data, giving a crypto investor confidence to make informed and timely decisions. New to the Street T.V., tomorrow, Tuesday, February 15, 2022 , welcomes back to the show, Mr. Ricky Jackson, CEO at Sport e m onGo (Crypto: SGOX) ($SGOX). Anchor Jane King and Ricky Jackson talk about the Company’s unique cryptocurrency, with a purpose to revolutionize both the interactive gaming, NFT collectible, and broader sport experience industries. He explains SportemonGo’s blockchain tokenized sports, NFTs, Metaverse, and betting. The Company successfully minted its first Premier League Soccer (Football) league star and released the NFT from its SporteNFT M a rketplace platform. The Company’s metaverse platform allows users to participate in Greyhound dog and Formula One racing games. Through NFTs, users can own, sell, buy, rent, place bets, own racecourses on Def1 car racing and MetaRaceWorld dog racing platforms. As an end-to-end sports Company with a management team with years of experience, SportemonGo continues to evolve with new and exciting sports crypto user opportunities. Ricky sees a strong future ahead for SportemonGo. Mr. Alain Ghiai, CEO, GlobeX Data, Ltd. (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT), is back for his weekly New to The Street T.V. interview with T.V. Anchor Jane King, which airs tomorrow, Tuesday, February 15, 2022. Jan asked Alain about a recent federal ALERT from the U.S. Cybersecurity and Infrastructure Security Agency (CISA) , a U.S. Department of Homeland Security division, over a software bug in Windows that causes hacking on U.S. federal computer systems. The agency wants all of the federal systems upgraded with a software patch. With geopolitical tensions worldwide, especially in Europe regarding Ukraine, the Foreign State-sponsored and “For Hire” hacking is part of the global instabilities. Intellectual property owned and controlled by universities, government, and businesses are the hackers’ targets for access to their proprietary data and sciences. Alain updates the ever-growing corporate fundamental at GlobeX Data, Ltd and its Sek u r Suite® cybersecurity products, providing a status on its audited financial statements for year-end 2021, with expected completions before the conclusion February 2022. Once done, the Company finishes the necessary qualifications needed to up-lift the Company’s stock trading platform onto OTCQX . The OTCQX is the highest tier trading platform offered at OTC MARKETS , a highly creditable platform, with many large multinational corporations listed. Alain expects to be in New York City in March 2022 to do a live in-studio interview with New to The Street and visit several investment bankers. His goal is to list the Company’s stock on the NASDAQ market in the future. The billboard outside the NASDAQ building displays a GlobeXData’s Sekur ad; Alain looks forward to a photo of himself with the background of the ad and building. About Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP): Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring, and developing small molecules and biologics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio comprises of immunology and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes a COVID-19 platform of product candidates to prevent and treat COVID-19, treat Long COVID, and detect functional T cell immunity to COVID-19. Tonix’s lead vaccine candidate for COVID-19, TNX-1800 1 , is a live replicating vaccine based on Tonix’s recombinant pox vaccine (RPV) platform to protect against COVID-19, primarily by eliciting a T cell response. Tonix reported positive efficacy data from animal studies of TNX-1800 in the first quarter of 2021 and expects to start a Phase 1 study in humans in the first half of 2022. TNX-3500 2 (sangivamycin) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-Investigational New Drug (IND) stage of development. TNX-102 SL 3 (cyclobenzaprine HCl sublingual tablets) is a small molecule drug in development to treat Long COVID, a chronic condition, and is also in the pre-IND stage. Finally, Tonix is developing TNX-2100 4 , an in vivo diagnostic to measure the presence of functional T cell immunity to COVID-19. Tonix intends to initiate a first-in-human clinical study of TNX-2100 4 in the fourth quarter of 2021, pending IND clearance. Tonix’s immunology portfolio also includes biologics to address immunosuppression, cancer, and autoimmune diseases. The Company’s CNS portfolio consists of small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL 3 , is in mid-Phase 3 development to manage fibromyalgia, with a new Phase 3 study expected to start in the first half of 2022. TNX-1300 5 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the first quarter of 2022. - https://www.tonixpharma.com ( 1 TNX-1800 is an investigational new biologic and has not been approved for any indication. TNX-1800 is based on TNX-801, live horsepox virus vaccine for percutaneous administration, which is in development to protect against smallpox and monkeypox. TNX-801 is an investigational new biologic and has not been approved for any indication. 2 TNX-2100 is an investigational new biologic and has not been approved for any indication. 3 TNX-3500 is an investigational new drug at the pre-IND stage of development and has not been approved for any indication. 4 TNX-102 S.L. is an investigational new drug and has not been approved for any indication. 5 TNX-1300 is an investigational new biologic and has not been approved for any indication). About KamPay Tech Ltd (CRYPTO: KAMPAY) ($KAMPAY) : KamPay Tech Ltd (CRYPTO: KAMPAY) ($KAMPAY) is a utility token and currency explicitly designed for smartphone users that capitalize on high mobile uptake across a region. The wallet is a lightweight mobile and desktop application allowing users to send, receive and interact $KAMPAY from any location with the network coverage. The KamPay Wallet is a multi-currency mobile and desktop client with a built-in messaging application to store BTC, ERC-20, and BSC tokens. The open-source KamPay Wallet will allow safe, secure, and large-scale participation in the digital economy across Africa, with low technical and transactional barriers to participation. The KamPay Wallet supports ERC-20 and BSC tokens, allowing users to store the native assets of applications available on the KamPay platform. The Company’s objective is to help foster a thriving community of merchants, shoppers, traders, promoters, players, and other ecosystem participants who all have a stake in KamPay and benefit from helping the project grow https://www.kampay.io/ . About GlobeX Data, Ltd. (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT): GlobeX Data, Ltd. (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) is a Cybersecurity and Internet Privacy provider of Swiss hosted solutions for secure communications and secure data management. The Company distributes a suite of secure messaging applications, encrypted emails, secure communications, and secure data management tools, using Swiss privacy laws, proprietary technology, and its independent platform, away from big tech's hosting platforms. GlobeX Data, Ltd. sells its products through approved wholesalers, distributors, and telecommunications companies worldwide. GlobeX Data, Ltd. serves consumers, businesses, and governments worldwide – https://www.globexdata.com . Sekur® is a Swiss secure communications application offering secure and private messaging, emails, voice messages, self-deleting messages, and file transfers from any mobile device, tablet, or desktop. Sekur users can communicate with Sekur and non-Sekur users through its unique Chat-By-Invites feature and Sekur, send email system. All data traffic stays in GlobeX Data’s Swiss-hosted servers, using its proprietary HeliX technology, military-grade encryption, and benefiting from Swiss Privacy Laws – https://sekur.com & Twitter: @globexdata. About PetVivo Holdings, Inc. (NASDAQ: PETV): PetVivo Holdings, Inc. (NASDAQ: PETV) is an emerging biomedical device company currently focused on manufacturing, commercialization, and licensing innovative medical devices and therapeutics for companion animals. The Company’s strategy is to leverage human therapies to treat companion animals in a cost and time-efficient way. A vital component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a pipeline of seventeen products to treat animals and people. A portfolio of twenty-one patents protects the Company’s biomaterials, products, production processes, and use methods. The Company’s lead product Spryng™, a veterinarian-administered, intraarticular injection for the treatment of lameness and other joint-related afflictions, including Osteoarthritis, in dogs and horses, is scheduled for expanded commercial sales - https://petvivo.com/ . About Alkimi (CRYPTO: $ADS) ($ADS): The Alkimi (CRYPTO: $ADS) ($ADS) is a decentralized advertising exchange built on the Constellation Network’s Hypergraph. Using the OpenRTB standards for programmatic advertising, Alkimi Exchange hosts a media exchange auction in real-time on the Hypergraph, a hosted state channel, AlEx. AlEx is the state channel facilitating a programmatic exchange that provides cost savings and fraud prevention for all stakeholders in the advertising industry: users exposed to digital advertising, publishers that host advertising, and advertisers that buy digital media. Alkimi Exchange is the first digital advertising. An immutable record of all media servings and engagements are recorded on a blockchain and ushered in accountability for the new digital advertising paradigm - https://alkimiexchange.com/ . About Sonar (CRYPTO: PING) ($PING) : Sonar -Resonance Labs Ltd (CRYPTO: PING) ($PING) (“Sonar”) is a dynamic, all-in-one crypto tracking platform aiming to simplify and accelerate online investments. The platform’s analytical ecosystem provides a safe place for users to research, manage, and decide on their current and future crypto investments by providing complete transparency and traceability. It features a central platform of analytics tools, a web3 wallet, and educational content - https://www.sonarplatform.io/ . About SportemonGo (Crypto: SGOX) ($SGO X ): SportemonGo (Crypto: SGOX) ($SGOX ): was founded in 2021 by Ricky and Corey Jackson. With illustrious backgrounds in sports marketing and sporting software, the pair envisaged the creation of a platform to stand as a world premiere in NFT augmented reality sports trading. To revolutionize both the gaming and NFT collectible industries, SportemonGo will enable its users to hunt and collect NFTs of their favorite sporting heroes in real-time. Users will interact at stadiums and sporting events like never before, creating the perfect synergy between the current world and the metaverse. SportemonGo is funded solely through its cryptocurrency, a BEP20 token leveraging a smart contract on the Binance Blockchain network. This native cryptocurrency will power the entire economy within the platform allowing users to purchase NFT collectibles, form their ultimate team, participate in mini-games, earn rewards, and much more - https://sportemongo.com/ . About FMW Media: FMW Media operates one of the longest-running U.S. and International sponsored and Syndicated Nielsen Rated programming T.V. brands “New to the Street” and its blockchain show “Exploring The Block.” Since 2009, these brands have run biographical interview segment shows across major U.S. Television networks. The T.V. platforms reach over 540 million homes in the U.S. and international markets. FMW’s New to The Street / Newsmax T.V. broadcasting platform had its first show broadcast Sunday, December 27. The New to The Street / Newsmax T.V. show airs its syndication on Sundays at 10 -11 AM EST. FMW is also one of the nation’s largest buyers of linear Television long and short-form - https://www.newsmaxtv.com/Shows/New-to-the-Street & https://www.newtothestreet.com/ . Forward-Looking Statements Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov. FMW Media Contact: Bryan Johnson +1 (631) 766-7462 [email protected] And “New to The Street” Business Development office 1-516-696-5900 [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96b8df59-2c65-4355-af6c-a93313d11b08 View comments || Rio De Janeiro to Allocate 1% of Treasury Reserves to Crypto: Report: The mayor of Rio de Janeiro said Thursday he plans to allocate 1% of Brazil's second-most populous city's treasury reserves to cryptocurrencies, according to a Globoreport.
• "We are going to launch Crypto Rio and invest 1% of the treasury in cryptocurrency," Mayor Eduardo Paes said at the Rio Innovation Week.
• According to Pedro Paulo, Rio de Janeiro's finance secretary, the city plans to apply discounts to tax payments made with bitcoin. "You take the single quota discount of 7%, it would make 10% if you pay in bitcoin," Paulo said, adding that the administration needs to study the legal framework.
• Miami Mayor Francis Suarez also spoke at the event, and discussed the challenges in transforming cities into technological hubs. In February,Suarez told CoinDeskhe plans to place a portion of Miami's treasury in bitcoin.
Read more:Miami Mayor Suarez to Take Next Paycheck in Bitcoin
CORRECTION (Jan. 14, 14:08 UTC):Replaces references to bitcoin in headline, first paragraph and first bullet with the more general cryptocurrencies.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 42451.79, 39137.61, 39400.59, 38419.98, 38062.04, 38737.27, 41982.93, 39437.46, 38794.97, 38904.01
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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 2018-02-15]
BTC Price: 10166.40, BTC RSI: 51.91
Gold Price: 1352.10, Gold RSI: 61.80
Oil Price: 61.34, Oil RSI: 46.03
[Random Sample of News (last 60 days)]
This High-Yield Stock Just Declared Its 95th Dividend Increase: Net-lease REITRealty Income Corporation(NYSE: O)recently announced a 4% dividend increase, which represents the 95th time the payout has been raised since the company's 1994 NYSE listing. Here's a rundown of Realty Income's incredible dividend history and why you shouldn't worry about the company's retail-oriented property portfolio.
As I mentioned, Realty Income just announced its 95th dividend increase since listing on the NYSE in 1994. The monthly dividends, of which Realty Income will have paid 571 in a row, are going up by 4% from $0.2125 to $0.219 ($2.628 annualized). Based on the current stock price, this brings Realty Income's dividend yield to just under 5%.
Image source: Getty Images.
Over the years, Realty Income has increased its dividend at a compounded rate of 4.7% per year. Generally, the company will declare one large dividend increase in the beginning of the year (that's this one) and several smaller ones throughout the year.
Realty Income likes to raise its dividend quarterly, at a minimum, and has done so for 81 consecutive quarters -- more than 20 years. The dividend will often increase even more frequently if the company is doing particularly well. Out of the past 15 years, the company has increased its dividend five times or more in 10 of them.
There are two main components that allow Realty Income to grow its revenue and increase its dividend in such a consistent and predictable manner. First, the company's lease structure is designed for stability. And second, most of Realty Income's tenants operate recession-resistant businesses.
Realty Income's tenants sign"triple-net" leases. This is a long-term lease agreement, and most of Realty Income's tenants' leases have initial terms of 15 years or longer, generally with annual rent increases included. Tenants are responsible for most ongoing and variable costs of property ownership -- specifically taxes, insurance, and maintenance. So not only are the tenants locked in for years, minimizing turnover, but Realty Income's expenses once it has a tenant in place are next to nothing. In fact, the company's gross profit margin ismore than 98%.
Most of the retail tenants (about 20% of the portfolio is industrial and office properties) fall into one or more of three recession-resistant or e-commerce-resistant categories.
• Service/Experiential:These are businesses that people need to physically go to, such as theaters, gas stations, and fitness centers, and are naturally resistant to e-commerce headwinds. Examples of major tenants from Realty Income's portfolio includeAMC Theaters, LA Fitness, and 7-Eleven.
• Non-Discretionary: These businesses sell things peopleneed, as opposed to things people want. Drug stores are a great example -- not only do they sell things people need, but they sell things people generally need in a timely manner.CVS,Walgreens, andRite-Aidare all top Realty Income tenants.
• Low Price Point: Businesses with a discount orientation tend to do fine during recessions and compete well against e-commerce giants likeAmazon. For example, dollar stores likeDollar Generaland warehouse clubs like BJ's Wholesale often offer bargains that simply can't be matched online.
In addition to a high-yield and incredible dividend history, Realty Income also has the capability of delivering market-beating returns. And over the 24 years it has been listed on the NYSE, it has done just that, delivering annualized total returns (dividends + stock price gains) of 16.4% over that time. To put this into perspective, if you had invested $10,000 at the time the company first listed on the NYSE in 1994, your investment would be worth roughly $383,000 today.
To be clear, Realty Income's past performance isn't a guarantee that it will perform as wellin the future. However, with a proven recipe for consistent growth and income, there's no reason to believe that Realty Income's record of strong returns will be in jeopardy anytime soon.
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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.Matthew Frankelowns shares of Realty Income. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends CVS Health. The Motley Fool has adisclosure policy. || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 01/01/18: Hopes of a sustained end of year rally fizzled out through the weekend, following Bitcoin Cash’s $2,888 high on Friday.
At the time of writing, Bitcoin Cash was up just 0.37% to $2,368 and that’s coming off the back of Bitcoin’s demise from an early Friday $15,474.19 to Sunday’s $12,050 low. Bitcoin has managed to recover to $13,687.29 at the time of writing, but is still down on the day, limiting any material upside for Bitcoin Cash.
With Bitcoin Cash having found strong support at around the $2,300 levels, the day ahead could be a tricky one should Bitcoin Cash fail to move back through to $2,400 levels in the early part of the day. A breakdown of $2,300 support levels could see Bitcoin Cash fall back to sub-$2,000 levels and from there the cryptomarkets could enter into some panic selling.
Volumes are on the lower side as the markets enter 2018 however, which could possibly limit any major declines through the course of the day, though we can expect the markets to wake up in catch up mode tomorrow.
Bitcoin Cash Chart by Trading View
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Litecoin continues to trail its rivals this morning and, while up 0.99% to $229.41 at the time of writing, sits well below its December high of $420 and has certainly not looked like it’s going to be making a run for it any time soon.
Perhaps on the bright side for the Litecoin bulls is the fact that the Bitcoin clan has failed to move into another record breaking run, which would likely have resulted in Litecoin take a bigger hit.
As things stand, it’s still looking quite bearish for Litecoin and for any sustainable run, Litecoin will have to break through high-$230 levels, with any fall below $220 likely to lead to sub-$200 levels before support kicks in.
Volumes have been on the higher side, but with the likes of Ripple trailblazing through to the end of the year, interest is being drawn elsewhere.
Litecoin Chart by Trading View
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Ripple ended the year with a bang, after hitting an all-time high of $2.48 on Saturday. Not only did the record run impress, but also took Ripple to number 2 in the rankings by market capitalization, overtaking Ethereum, which had enjoyed a lengthy run in 2ndplace.
Ripple has been the talk of the town and with more than 7,000% gains in December alone, expectations are high for the currency going into 2018.
The Ripple bulls will be patting themselves on the back for betting on the right team, as will the Ripple team in establishing a playbook to ease volatility relative to its peers, through the use of escrows by the Ripple team. As with any currency, it’s all about supply and demand and by controlling the supply side, things have been on the up and up ever since.
At the time of writing, Ripple was down 0.05% to $1.989, recovering from an intraday low $1.92, with any break through to $2.00 likely to support another rally, with Ripple finding strong support at $1.90 levels for now.
Volumes are on the lower side through the early part of today, with the investors likely to be looking for direction before making any major moves.
Ripple Chart by Trading View
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Thisarticlewas originally posted on FX Empire
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• E-mini S&P 500 Index (ES) Futures Technical Analysis – Trade Through 2667.75 Confirms Closing Price Reversal Top || Coincheck hackers trying to move stolen cryptocurrency after major Japanese heist: A chart of the NEM virtual currency against Japanese yen is seen on Coincheck's cryptocurrency wallet app - Getty Images AsiaPac Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week - one of the biggest such heists ever - are trying to move the stolen "XEM" coins, the foundation behind the digital currency said on Tuesday. NEM Foundation, creators of the XEM cryptocurrency , have traced the stolen coins to an unidentified account, and the account owner had begun trying to move the coins onto six exchanges where they could then be sold, Jeff McDonald said. Hackers made off with roughly 58 billion Japanese yen ($533 million) worth of the cryptocurrency from Tokyo-based exchange Coincheck Inc late last week , raising fresh questions about security and regulatory protection in the booming market. The location of the hackers' account was not known. "[The hackers are] trying to spend them on multiple exchanges. We are contacting those exchanges," Mr McDonald told Reuters from Singapore. At a glance | Cryptocurrencies NEM Foundation spokeswoman Alexandra Tinsman said the hacker had started sending out "XEM" coins to random accounts in 100 XEM batches, worth about $83 each. "When people look to launder these types of funds, they sometimes spread it into smaller transactions because it's less likely to trigger (exchanges') anti-money laundering (mechanisms)," said Tom Robinson, co-founder of Elliptic, a cryptocurrency security firm in London. Mr Robinson said such hopping among different cryptocurrencies was becoming more prevalent among cybercriminals trying to cover their tracks. The coins that the hackers had taken made up around 5 percent of the total supply of XEM, the world's 10th biggest cryptocurrency, according to trade website Coinmarketcap. What is cryptocurrency, how does it work and why do we use it? Mr McDonald said the hackers were unlikely to try to spend anything close to all of the stolen cryptocurrency at once, because the "market simply couldn't absorb that much". Story continues If the hackers successfully moved the coins to an exchange, they were likely to try to swap them into another cryptocurrency before transferring the coins back into a conventional currency, he said. That would make the funds difficult or near impossible to trace. "I would assume that they are going to get away with some of the money," Mr McDonald said. At least three dozen heists on cryptocurrency exchanges since 2011 are known; many of the hacked exchanges later shut down. More than 980,000 bitcoins have been stolen, and few have ever been recovered. Bitcoin | Read more In 2014, Tokyo-based Mt. Gox, which once handled 80 percent of the world's bitcoin trades, filed for bankruptcy after losing bitcoins worth around half a billion dollars - then the biggest ever such heist, which triggered a huge sell-off in bitcoin. "It shows how far the industry has come that a hack of this scale isn’t really an issue," said Robinson at Elliptic. "This is just kind of a blip." As of 1744 GMT, XEM was trading at around $0.83 per coin, with a total market value of around $7.5 billion. That was around 20 percent lower than trading levels on Friday, when the hack was announced, but XEM is still up almost 300 percent over the past two months. Japan's Financial Services Agency (FSA) on Monday ordered improvements to operations at Coincheck, which on Friday suspended trading in all cryptocurrencies except bitcoin. || Could Sprint Corporation Be a Millionaire-Maker Stock?: Sprint(NYSE: S)has fallen on hard times. The company has sunk to number four in the wireless space, being passed byT-Mobile(NASDAQ: TMUS), which has created a strong brand around being the clear alternative to market leadersAT&T(NYSE: T)andVerizon Communications(NYSE: VZ).
In addition to seeing its place in the market slip, Sprint also failed in its attempt tomerge with T-Mobile. That deal failed because Sprint's parent company,Softbank(NASDAQOTH: SFTBF), and its CEO Masayoshi Son did not like the price offered. Son was also concerned about giving up control of the wireless carrier.
That may have killed the merger, but it's perhaps a positive for Sprint in the long term. The company is languishing as a wireless carrier, but it has cut its losses and gone back to adding customers in itsmost-recent quarter.
Sprint uses Verizon's former "Can you hear me now?" spokesman Paul Marcarelli in its ads. Image source: Sprint.
Sprint has over $31 billion in debt, but it's not without assets. As my colleagueJamal Carnettepointed out when the merger collapsed, Sprint is sitting on a huge amount of 2.5GHz high-band spectrum, "which is perfect for transmitting data at a high speed." That's an asset that could make Sprint a viable partner for a cable company or another player looking to launch a service that needs to quickly transmit data.
That, plus Softbank's very deep pockets, could make Sprint a merger target. It's worth noting that the company conducted negotiations withComcastandCharter Communications, but no deal was reached and control was rumored to be a potential issue as well.
That leaves Sprint in a position where it could try to merge with a smaller player or attempt to roll up a number of companies that could leverage Sprint's customer base as well as its spectrum. That's a much dicier proposition and it's a lot riskier than simply selling to T-Mobile at a small premium on the current stock price.
With Softbank in the picture, it's possible Sprint could become a lot more than it is. The reality is that money alone won't solve the company's problems. Aside from T-Mobile and maybeDISH Network, which has a chairman in Charlie Ergen who's as unwilling to cede control as Son is.
Aside from those two deals, both of which appear to be out of play, there's no easy answer for Sprint. It could partner with one of the above-mentioned companies on building out its spectrum or Softbank could fund doing it on its own.That's possible, but it's hard to see a clear play for the company that would greatly enhance its value. Son has money and ambition, and Sprint still has a sizable customer base to leverage to move into new spaces.
Tt's very possible that no deal presents itself and Softbank decides to cut its losses on Sprint. It's also possible that no major move gets made and the wireless carrier keeps muddling along as it has been for years.
Most of those are not millionaire-maker scenarios. Sprint could be a millionaire-maker stock, but that's a lot less likely than it becoming a slight gain on a sale or an unpredictable performer as it chugs along on its own trying to compete with T-Mobile, AT&T, and Verizon.
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Daniel B. Klinehas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool recommends Comcast and T-Mobile US. The Motley Fool has adisclosure policy. || It Was a Seriously Bad Day for the Stock Market: Photo credit: Hearst Communications, Inc. All rights reserved From Esquire The Dow Jones Industrial Average plummeted 1,175 points today, the largest one-day raw points drop in history . That was an improvement from earlier in the day, when the Dow slid to 1,500 in the hole. At 4.6 percent, the decline was not the largest ever as a share of the total, though the Dow is down 8 percent - 2,100 points total - in the last six days of trading. That included a dark day Friday, as the Dow fell an ominous 666 points. The broader S&P 500 index also fell as both metrics saw all their 2018 gains erased in one wild Monday. For this calendar year, the S&P is down .9 percent, while the Dow is down .8 total. That was accompanied by major setbacks in the emerging markets for cryptocurrency. By 4:30 p.m., Bitcoin had recovered from a low of just over $6,500 to hit $7,245 per coin, though that constituted a 33 percent drop from a week prior and a 57 percent drop for the month. Ethereum, at $727, was down 36 percent week over week. President Trump has trumpeted the economic news through his first year in office, as a bull market has led to record-highs for the Dow and, by the last Labor Department report, rising wages. Trump visited a factory in Ohio to, among other things, continue celebrating the state of the economy. This made for awkward viewing as the market tumbled hundreds of points while he was behind the podium, to the point that even Fox News was forced to cut away from covering his speech to track the sell-off: The amazing moment when Fox News had to interrupt coverage of Trump bragging about the economy to cover the largest stock market drop ever https://t.co/CnIIkIuYse pic.twitter.com/d8Rqp1zUL4 - Judd Legum (@JuddLegum) February 5, 2018 Trump has loudly and frequently claimed credit for the strong market since his election, so we can all safely expect he'll take responsibility for any downturn. You Might Also Like 10 Grown-Up Backpacks That Won't Make You Look Like a Kid New York in the '70s: The Photos The Most Stylish Ways to Organize Your Life This Fall || Here's Why Applied Materials' Stock Jumped 58% in 2017: Shares ofApplied Materials, Inc.(NASDAQ: AMAT)spiked 58.4% last year, according to data provided byS&P Global Market Intelligence, after the company posted strong sales growth throughout the year and beat analysts' expectations several times.
Applied Materials started the year off strong with its fiscal first-quarter 2017 earnings report in February, in which the company grew its top line by 45% year over year to $3.28 billion and non-GAAP earnings per share hit $0.67, which just slipped past Wall Street's expectation of $0.66 per share. The results encouraged Applied Materials' investors and they slowly drove up the company's share price by nearly 16% between February and April.
Image source: Getty Images.
In May, Applied Materials released its second quarter 2017 earnings report and the company's top line popped by 45% and earnings per share came in at $0.79 -- a 162% jump year over year -- which again surpassed analysts' consensus earnings estimate. The news helpeddrive the company's share price up 10%that month.
Investors were also encouraged by what Applied Materials' management said at the company's investor conference in September. CEO Gary Dickerson said that he believed that Applied's services division will reach annual revenue of $4.5 billion by 2020 and net earnings will hit $5.08 billion by the same year. Management's optimism was contagious and Applied Materials investorsboostedthe company's stockby 10% during the month.
Applied Materials' management believes the company is headed for much more growth this year and Dickerson said in the company's fourth quarter 2017 press release that, "Fiscal 2017 was a record-breaking year for the company. We have great momentum and we're confident that in 2018 we can deliver strong double-digit growth across our semiconductor, display and service businesses."
Investors have already pushed up Applied Materials' share price by about 8% in January and if the company continues to outpace earnings estimates and grow sales at a healthy clip, then this year may end up being another solid win for Applied Materials investors.
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Chris Neigerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Spirit Airlines Closes In on a New Pilot Contract: What It Means for Investors: Labor tensions have been a recurring problem at ultra-low-cost carrierSpirit Airlines(NYSE: SAVE)in recent years. In 2010, pilots walked off the job for several days. That's the only strike experienced by the entire U.S. airline industry in the past decade.
More recently, Spirit Airlines pilots have become vocal in criticizing the company's management, as contract talks dragged on for years with little progress being made. These frustrations boiled over last May, with most of its pilots refusing to pick up overtime work. This forced Spirit Airlines tocancel hundreds of flights, angering many of its customers.
However, a tentative agreement has finally been reached with its pilot union for a five-year contract. Let's take a look at how this will affect the company going forward.
Under the recently completed tentative agreement, Spirit Airlines has offered its pilots an immediate wage increase averaging 43%, according to the pilot union. It will also make double-digit direct contributions to pilots' retirement plans. (Previously, there was a 100% match for pilots' contributions up to 9% of their annual pay.) Spirit also agreed to pay a ratification bonus of $75 million that will be divided among its roughly 1,800 pilots.
Spirit Airlines has offered its pilots a big pay raise. Image source: Spirit Airlines.
The tentative agreement still needs to be ratified by the union's membership. The voting will run from Feb. 7 to Feb. 28, so the contract won't be official for nearly a month (assuming it passes, which isn't guaranteed).
Thus far, Spirit Airlines hasn't commented on the tentative agreement with its pilots. However, last May, management released some information about the company's initial contract proposal. This provides a baseline for evaluating the potential financial impact of the tentative agreement.
Spirit Airlines' proposal as of last May included, "among other benefits, a 30% increase in pay on the date of signing of the amended agreement," according to COO John Bendoraitis. Spirit estimated that this would have increased the company's costs by more than $440 million over five years.
As noted above, the tentative agreement incorporates significantly larger raises, along with higher retirement contributions. This could make the incremental cost over five years closer to $700 million. That probably wouldn't be split evenly over five years, as most airline labor contracts call for modest annual wage increases during the term of the contract. A reasonable estimate for the first-year cost might be $120 million.
An immediate $120 million annualized cost increase would certainly be significant for Spirit Airlines. That works out to roughly 4.5% of Spirit's 2017 annual revenue and 3.7% of the company's estimated 2018 revenue.
In its first year, the new contract may create a roughly 6-percentage-point headwind to Spirit's nonfuel unit costs. (This excludes the impact of the $75 million one-time ratification bonus.) However, Spirit Airlines previously estimated that nonfuel unit costs would decrease 3%-5% year over year in 2018, excluding the impact of any pilot deal, in line with the 4% decrease it expects to report for the final quarter of 2017.
In other words, Spirit Airlines should be able to offset the vast majority of this increase in pilot compensation through other savings during 2018. The net result is likely to be low single-digit nonfuel unit cost growth. This is a small price to pay for achieving better labor relations.
While Spirit Airlines' unit revenue likely fell by about 2% last quarter, that would bemuch better than its original forecast. It's also a big improvement over the 6.3% decline Spirit reported for the third quarter.
For 2018, Spirit Airlines would need mid-high single-digit unit revenue growth to keep its pre-tax margin flat in the face of rising fuel costs. That will be difficult to achieve, but it's not impossible. A relatively small (less than $10 one-way) increase in Spirit's average fare would do the trick. Airlines across the industry should be motivated to avoid fare wars this year, given the steep fuel cost increases they face.
Furthermore, Spirit's effective tax rate will drop from 37% to 24% this year, due to tax reform. That should enable Spirit Airlines to grow its earnings per share in 2018, despite absorbing big increases in its fuel and labor costs.
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Adam Levine-Weinbergowns shares of Spirit Airlines. The Motley Fool owns shares of and recommends Spirit Airlines. The Motley Fool has adisclosure policy. || Toronto Councillor: City Should “Be Ahead of the Wave” of Blockchain Tech: TorontoBTC.jpg Toronto City Council voted today to invite the public to make “deputations” to the City Executive on March 19, 2018, about why and how blockchain technology and new cryptocurrencies can be integrated into the way the city does business. The motion was introduced by Councillor Norm Kelly , who believes that Toronto is already well on the way to being an international innovation hub, and that the use of blockchain technology and cryptocurrencies could fast-forward this process. In an interview with Bitcoin Magazine , Councillor Kelly said: “Toronto is a world class city and well placed to be one of the premier innovation centres in the world. We have startups and talented innovators right here that are working on the frontier of the new digital revolution.” Kelly noted that the city has fallen behind other Canadian jurisdictions in exploring the possibilities opened up by the world of blockchain technology and cryptocurrencies. “The Ontario and federal governments and some of our banks are already running pilot projects to see what practical applications can come from using blockchain technology,” Kelly said. Both the provincial and federal governments are exploring putting digital IDs on the blockchain so that each citizen would have only one ID. The Canadian government’s National Research Council is using the Catena Blockchain Suite, built on the Ethereum blockchain, to make government research grants and funding information more transparent to the public. “I’d rather be ahead of the wave than behind it,” Kelly said . Among other use cases, Kelly wants the city to consider whether Toronto residents should be able to use cryptocurrencies to pay property taxes, parking tickets, utility bills and land transfer taxes. “A number of communities like Zug, Switzerland, are already taking cryptocurrencies for payments. Venezuela has its own cryptocurrency and many international charities accept bitcoin,” Kelly noted. Toronto is already a hotbed of crypto activity with businesses including Decentral and Coinsquare. TrueBit COO Robbie Bent estimates that the Toronto crypto community numbers about 3,000 and is growing rapidly. And the city has literally hundreds of blockchain and cryptocurrency Meetups including a Meetup for Crypto Kids . Toronto is also home to MaRS, a world-class innovation center that is incubating a number of Bitcoin and blockchain startups. “Toronto’s Innovation Centre MaRS is a symbol and an example of what can be done when governments partner with business to promote the future growth potential of an innovation economy,” Kelly said. The Toronto-based Blockchain Research Institute (BRI) is only one of two in the world; the other is in Beijing, China. The BRI, which has been working on possible use cases for Toronto, has already said it will be presenting to the City Executive on March 19. Toronto Mayor John Tory was instrumental in getting Toronto to join the BRI and agrees with Kelly that Toronto must keep up with a changing world or risk falling behind. Toronto’s Burgeoning Blockchain Scene This article originally appeared on Bitcoin Magazine . || Forget Starbucks: Here Are 2 Better Dividend Stocks: Starbucks(NASDAQ: SBUX)stock is a justifiably popular investment. The company's stores are part of the American landscape in nearly every decently sized town or city, customers can't stop quaffing its coffee, and the company reliably turns a profit.
Thanks to its dividend, Starbucks has also been popular with some income investors. I believe, however, that there are other stocks in the food and beverage sphere that deliver a fuller cup of dividend than the coffee slinger. Here are two I'm particularly bullish on just now.
Image source: Getty Images.
Unilever(NYSE: UL), is a global consumer-goods powerhouse that makes many of the top brands you'll find in the supermarket or drugstore, such as Lipton teas, Dove soap, and Ben & Jerry's ice cream.
This makes for a strong lineup that collectively produced 43 billion British pounds ($58 billion) in revenue in the company's fiscal 2016. More recently, in Q3 Unilever managed tolift its total sales by 2.6%on a year-over-year basis.
Although that missed the average analyst estimate of 3.9%, it wasn't bad considering that a) Unilever's product range is so big and sprawling, and b) the company is fighting against a general consumer shift toward products at least perceived to be fresher, more natural, or of local origin.
To its great credit, Unilever isn't sitting on its hands while this trend plays out. It has been retooling its product lineup for some time now.
Its latest actions in this regard have seen it divest a staid processed-food line (thespreads businessthat includes such brands as I Can't Believe It's Not Butter). Meanwhile, it's acquired brands that feel more wholesome and less "corporate," such as the Schmidt's Naturals personal care line and Brazil-based natural and organic food purveyor Mae Terra.
Both operating and free cash flow are robust for Unilever; those line items rose a respective 35% and 60% in Q3. So the company has plenty of dosh for its dividend. The shift in product portfolio has the potential to kick up sales, which should further improve profitability and cash flow.
Unilever's American depositary receipts currently pay a quarterly dividend of just over $0.41, representing a modest payout ratio of 33%, and a yield of just under 3%.
Not long ago,McDonald's(NYSE: MCD)was almost left at the table by investors, who instead flocked to stocks of fast-casual chains such asChipotle Mexican Grill. That was then, this is now -- the fast-food king's shares have been on a tear this year, while those of some of its newer rivals have stumbled.
Why the change in fortune? Basically, McDonald's has very effectively risen to the challenge presented by those competitors. It can't really make its food super-healthy to jump on the current trend. It can, however, offer well-conceivednew value-menu offerings, push its McCafe offerings to lure java lovers into its restaurants, and make efficiency gains by installing ordering kiosks near its counters.
These moves, among other initiatives, are markedly improving the company's results, which have been excellent over the past few quarters.Q3 was entirely in character, with global comparable-restaurant sales increasing by 6% on a year-over-year basis -- a very strong number for such an entrenched operator. Systemwide sales rose by 7% on a constant-currency basis, while net income zoomed ahead by nearly 50%.
McDonald's is doing a good job ascertaining what its customers want from the restaurants, and profiting accordingly. Speaking of profit, I think margins will widen due to the current refranchising effort, in which it's selling off company-owned restaurants -- franchising is a less capital- and resource-intensive activity (read: more profitable).
Optimism is in the air at McDonald's, so it wasn't surprising when the companyrecently raisedits quarterly dividend by 7% to $1.01 per share. The payout ratio on the new amount is 44%, and its yield is 2.3%.
In contrast to Starbucks, which only started paying a dividend in 2010, Unilever and McDonald's have both been handing out theirs for decades. That, combined with very sensible strategies for future growth that should keep the payouts flowing, make the two stocks very fine candidates for income investors. Consider picking up shares in one or both the next time you're waiting at the counter for your morning latte.
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Eric Volkmanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Chipotle Mexican Grill and Starbucks. The Motley Fool has adisclosure policy. || What Twitter Isn't Telling Us About Its Ad Business: One of the oft-cited claims fromTwitter's(NYSE: TWTR)standoutfourth-quarter earningswas that the company's ad products are seeing success because of improved return on investment for advertisers. In its letter to shareholders, the company said its ad product team made changes that resulted in an 18% increase in ROI for advertisers.
Management pointed to a decline in ad prices (cost was down 42% year over year) and an increase in total engagements (up 75% year over year) as a clear indicator that advertisers are seeing better returns on investment.
But that only tells one part of the story. In fact, Twitter saw a greater decline in ad prices in the fourth quarter last year (60%) and an even bigger increase in engagements (150%). But the supposedly improved ROI didn't help Twitter's ad revenue in 2017.
Image source: Twitter, Copyright Marisa Allegra Williams (@marisa) for Twitter, Inc.
The biggest problem with the claim that advertisers are seeing better return on investment on Twitter is that they're not acting like it. If the return on investment were so much better, advertisers would have significantly increased their spending on the platform.
But let's take a look at how Twitter's ad revenue growth compares to its closest competitors.
[{"Company": "Twitter*", "Q4 Ad Revenue Growth (YOY)": "7%"}, {"Company": "Snap(NYSE: SNAP)", "Q4 Ad Revenue Growth (YOY)": "72%"}, {"Company": "Facebook(NASDAQ: FB)", "Q4 Ad Revenue Growth (YOY)": "48%"}, {"Company": "Google", "Q4 Ad Revenue Growth (YOY)": "22%"}]
Data source: company financial reports. *Ad revenue growth for owned-and-operated properties only.
Snap's huge increase in ad revenue can be attributed to a big jump in ad impressions.Alphabet(NASDAQ: GOOG)(NASDAQ: GOOGL)subsidiary Google also got a boost from increased engagements, particularly on YouTube and mobile. But while advertisers are spending money on additional engagements on those properties, they're not significantly moving into Twitter despite the huge spike in engagements. That probably means those engagements don't offer great returns compared to engagements on Snapchat or the various Google platforms.
Meanwhile, growth at Facebook was largely driven by an increase in average ad price. The company revealed its average price per ad increased 43% in the fourth quarter during itsearnings call. That's a much better sign of strong return on investment for marketers than Twitter's results.
In the letter to shareholders, management said it saw an increase in cost per ad impression (CPM) despite the decline in cost per engagement. That's a strong indication that it's getting better at putting ads in front of the right people, which is further affirmed by management's disclosure that click-through rates on advertisements also increased last quarter.
On the earnings call, CFO Ned Segal told analysts, "We try to think more about CPMs than we do about the inputs."
The only problem is, management isn't giving investors the details about CPM or click-through rates.
Facebook provides an update on cost per impression every quarter. Google uses cost-per-click as a catchall for clicks on Google and impressions on YouTube. Even Snap has provided updates on itsad price declinesin recent quarters. And those are all important metrics for investors to track.
But Twitter gives cost per engagement, despite saying that it's not as important as CPM. That means the company doesn't provide the opportunity for investors to track the progress of Twitter's efforts to improve return on investment and gauge the true health of its advertising business.
Twitter showed strong results in the fourth quarter with improved ad revenue and finally posting a profit on aGAAPbasis. But the strength of its ad business compared to its competitors is still questionable, as management is holding back on giving investors details about the metric the company says it pays the most attention to. The company needs to give investors the ability to monitor its advertising business by being more transparent about its self-proclaimed key metric.
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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.
[Random Sample of Social Media Buzz (last 60 days)]
Only 2 more hours till the next Monetize Coin round. Get your coins while you can. Coin is expected to 5x this month. #ICO #monetizecoin #davorcoin #passiveincome #bitcoin #hedgeconnect #pagarex #lendconnect https://monetizecoin.io/5a5d4b4ea6aac || Current price of $BTC is $13895.00 via Chain #bitcoin #btc || CRYPTO ALERT: Market going up. Just took a big bounce. Lots of green emerging now.
#crypto #blockchain #cryptonews #cryptocrash #bitcoin #btc #altcoins #HODL #BuyTheDip #Cryptocurrencies || Bitcoin (2.43): $14,721.00
Ethereum (2.79): $732.06
Bitcoin Cash (1.24): $2,850.28
Ripple (1.48): $1.19
Litecoin (4.81): $289.65
Cardano (1.08): $0.43
IOTA (5.05): $3.84
Dash (0.52): $1,220.27
NEM (4.89): $0.91
Bitcoin Gold (6.43): $333.47 || やべえ。 BTC 0.00でもコールドウォレットにしている個人は一体・・・ || WOOT We just made a $0.02 profit!
Sold: 0.00034224 BTC ($4.89)
BuyPrice: $14229.64
SellPrice: $14288.93
24 hour profit: $4.00 || 25 Aralık 2017 Saat 18:00:02, 1 Bitcon Kaç Lira Eder, 51.926,60 TL. #BTCTL #BTCKacTL #bitcoin #bitcoindeğerihttp://www.doviz724.com/1-bitcoin-kac-tl.html … || Russian Bankruptcy Court Orders Debtor to Disclose Cryptocurrency Holdings: The Moscow ban.. #Bitcoin #News #btc http://dld.bz/gA275 || BTC Average: 12826.30$
Bitfinex - 12089.00$
Poloniex - 12124.14$
Bitstamp - 12468.39$
Coinbase - 13035.00$
Binance - 12190.00$
CEXio - 13990.56$
Kraken - 12555.90$
Cryptopia - 12209.00$
Bittrex - 12102.01$
GateCoin - 15499.00$
#BTC #Bitcoin #Exchanges #Price || 2018-01-20 06:00 UTC Bitcoin Price: 12652.81 USD
|
Trend: down || Prices: 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-06-17]
BTC Price: 748.91, BTC RSI: 81.84
Gold Price: 1292.50, Gold RSI: 66.78
Oil Price: 47.98, Oil RSI: 50.66
[Random Sample of News (last 60 days)]
INVESTMENT FOCUS-Index-eligible or not, China's allure dimmed by yuan fears: By Sujata Rao LONDON, June 17 (Reuters) - Just as China's $10 trillion bond and equity markets appear to be on the cusp of joining global indexes, investors who long sought free access to these assets have started to worry that any returns would be hit by a weakening yuan. Many were disappointed by MSCI's decision this week to keep China's mainland listed A-shares off its emerging market indexes on the grounds that Beijing needed to make its markets more easily accessible to foreign investors. But market watchers said the decision, made after months of consultations with investors, at least partly reflected fund managers' unease about allocating more to yuan-denominated assets. Currently, MSCI indexes include only Chinese stocks listed offshore which are freely traded. China's mainland stocks will almost certainly be added to equity indexes in the coming years, if not months, as will the country's $7 trillion government bond market, the world's third-biggest. That should bring more capital inflows, especially as foreign holdings of local shares and bonds currently amount to just $180 billion, JPMorgan calculates. But the timing is tricky. An economy growing at its slowest pace in 25 years, falling exports and potential U.S. interest rate rises are seen portending yuan weakness. Memories are still fresh of last August's devaluation, when the yuan fell 2.7 percent against the dollar in one week. "There is pent-up demand for exposure to China, but we are probably in a period when the world is happy not to hold too much of it," said Kieran Curtis, a bond fund manager at Standard Life Investments. "You get a pretty decent (bond) yield but people will be reluctant to pile in because of expectations of currency depreciation." Recent yuan moves give credence to such fears. Authorities have recently been fixing the official exchange rate at steadily weaker levels, pushing it to five-year lows. That weakness and a surge in outbound investment could also fuel a resumption of last year's huge capital outflows. Story continues The yuan has fallen 8 percent against the dollar since the end of 2013, ceding a quarter of its appreciation since 2005. But against its trading partners' currencies it has fallen 4.3 percent this year, suffering more trade-weighted depreciation than any emerging currency other than the Mexican peso. INDEX INCLUSION Keen to boost the international profile of its markets and currency, Beijing has rushed to make the changes that index providers require, relaxing quota-based investment programmes and clamping down on arbitrary share suspensions. Bond investors were told last month they would be able to remit money more freely, a move seen as potentially enabling entry to major debt indexes and bringing in at least $155 billion, according to JPMorgan estimates. JPMorgan has already put China on a watchlist for its GBI-EM emerging bond index. China's government pays 3 percent on its 10-year bonds, far higher than any other country whose currency is in the International Monetary Fund's SDR basket. But while this is high in the global context, it may seem paltry to emerging debt specialists who earn more than 6 percent on the GBI-EM index on average. "At this juncture I don't think China will attract material interest...it will be the lowest yielding market in the (GBI-EM) index. Plus the tail risk that they could devalue," said Naveen Kunam, portfolio manager at Allianz Global Investors. Indeed, non-deliverable forwards (NDFs), derivatives used by investors to lock in future exchange rates, price the yuan at 6.8 per dollar in a year's time versus the spot rate of 6.6. This is down from January peaks close to 7 but investors planning to buy Chinese assets should use the pullback to add yuan hedges, analysts at Goldman Sachs advise. Hedging erodes returns: Someone holding a six-month NDF, for example, would pay away roughly 1.2 percent of the yield earned. WAIT Many therefore say they will wait. "FX risk is something to take into account because with the yield differential being quite low with the U.S., the FX effect becomes more influential in your investment decision," said PineBridge Investments' portfolio manager Anders Faergeman. Another 5-10 percent yuan depreciation versus the dollar would get him interested in Chinese bonds, Faergeman added. Of course not everyone believes yuan weakening is inevitable. China's exports are competitive enough without a devaluation, analysts at asset manager Matthews Asia say. Sentiment, however, is powerful. Reuters reported this month that investors inside and outside China were employing various strategies to profit from yuan weakness, including buying Bitcoin and shorting Hong Kong stocks correlated to the exchange rate. Shanghai shares have fallen almost 20 percent this year and China funds tracked by EPFR Global have seen around $2.5 billion in outflows. That's part of a broader picture of capital flight from Chinese firms and individuals, with May alone seeing $27 billion flee. Patrick Mange, head of EM strategy at BNP Paribas Investment Partners says big yuan devaluation risks are actually small as China can easily tighten capital controls if needed. "This risk is in the mind of people, it is a longer-term risk which would impact this market." (Additional reporting by Karin Strohecker and Nicola Saminather in Singapore, graphics by Vincent Flasseur and Nigel Stephenson; Editing by Hugh Lawson) || 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 || Why Shares of Fintech Lenders OnDeck and Lending Club Are Getting Crushed: OnDeck might not have been ready for the major leagues. Shares of OnDeck Capital were down 34% on Tuesday, to $5.50. That caps a tumble that has left the stock off 70% since its IPO nearly a year-and-a-half ago. The source of the pain on Tuesday for the online lender was its first quarter earnings. On Monday afternoon, OnDeck said it lost nearly $13 million in Q1, up from a loss of just over $5 million a year ago. The loss was also larger than analysts were expecting. The $13 million loss is far from life-threatening, though it is concerning. OnDeck blew through $28 million in cash in the first quarter, though it still has $170 million in the bank. The bigger concern is its business model. OnDeck makes loans to small businesses. And lending has been going well. Loans rose by $100 million in the past year. Originally the thought was OnDeck and others were going to eat the lunch of the large banks which are lumbering and weighed down by regulations. Historically it has sold many of those loans off to investors. Yet, in the first quarter the percentage of loans that OnDeck offloaded to investors fell to 26% from 40% a year ago. What’s more, the profits OnDeck got from selling the loans dropped. The problem is that the fintech lenders are having more difficulty finding buyers for their loans. And investors seem to be nervous this is not just an OnDeck problem. Shares of Lending Club dropped 10% on Tuesday on fears that it will report the same problem when it discloses what it earned in the first quarter next week. Other fintech lenders have been struggling with what to do about the fact that buyers for their loans--hedge funds and other investors--appear to be drying up. Another fintech lender SoFi has started a hedge fund with its own money to invest in the loans it is making. Putting the loans in a hedge fund makes the loans effectively disappear from their books, even though Sofi still owns the risk. The arrangement has reminded some of the types of deals Bear Stearns and others set up in the run up to the financial crisis . Story continues As long as the market and regulators treat OnDeck and its rivals as tech companies none of this might be a problem. But regulators have started to hint that they are going to take a closer look at fintech companies and whether they should be regulated like banks. If regulators decide they should be, then OnDeck and others will have to meet the same capital rules that banks do, which will put a ceiling on how much they can lend, if they can’t find genuine third-party investors willing to take a good deal of that risk off of their hands. At the same time, investors no longer seem willing, like they do with other tech stocks, like say Amazon, to stick around while OnDeck continues to have losses. That doesn’t mean the stock is cheap. OnDeck’s shares, after Tuesday’s drop, have a price-to-book ratio of 1.20. J.P. Morgan Chase , by comparison, which has invested in OnDeck, has a P/B ratio of 1.05. OnDeck’s shares would drop to $4.80 if it traded at a similar multiple. But even that might be generous. Bank of America’s P/B is 0.7. If OnDeck’s shares traded at that multiple, they would sink to $3.20. If OnDeck is going to be treated more like a bank, the problem is shares will likely trade like one too. See original article on Fortune.com More from Fortune.com This Millennial CEO Thinks the Loan System for Small Businesses Is Broken The Big Flaw Few are Talking About in Fintech Barclays Is Getting Into Bitcoin With Goldman-Backed Circle Slack Users Will Be Able to Pay One Another Using This Bot Japan Looks to Kickstart 'Fintech' Revolution || 'I'm sorry': Craig Wright on lack of evidence he created bitcoin: By Jemima Kelly LONDON (Reuters) - Australian tech entrepreneur Craig Wright, who earlier this week said he would provide "extraordinary proof" that he was the creator of digital currency bitcoin, will not provide any further evidence, according to a post on his blog on Thursday. Although Wright did not renege on his claim to be Satoshi Nakamoto - the name, assumed to be pseudonymous, of the person or group who created the web-based currency in 2008 - the U-turn was taken by many bitcoin experts as confirmation of their suspicions that the claims were false. "I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me," Wright wrote. "But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." Bitcoin is a web-based "cryptocurrency" that enables users to move money across the world quickly and anonymously without the need for third-party verification. Various attempts have been made to identify its elusive creator, but Wright's claims stood out due to the high-profile endorsements they received. Lead bitcoin developer Gavin Andresen and bitcoin consultant Jon Matonis both wrote blogs on Monday endorsing Wright's claims, saying they had been shown proof by Wright that he was Nakamoto. Wright said on Thursday that Andresen and Matonis had not been deceived, but "that the world will never believe that now". "I think he's significantly less likely to be Satoshi than any other person that's been suggested," another lead bitcoin developer, Peter Todd, told Reuters, referring to others who have been suspected of being bitcoin's creator. "PLAIN FISHY" After coming under pressure to provide more credible evidence that he was bitcoin's creator, Wright had blogged on Monday that he would provide "independently verifiable documents and evidence" that would back up his claims. The post could no longer be found on his blog site. "The possibility that Wright is Satoshi will always exist, but given the amount of evidence calling that into doubt, I think one would be foolish to give that possibility much weight," said Jerry Brito, executive director of Washington, D.C.-based digital currency advocacy group Coin Center. "He's provided no cryptographic evidence verifiable by the public, and many of his answers sound plain fishy... Today's statement on his blog only further tarnishes his credibility." Wright's representatives declined to give any comments on his decision to back away from providing further evidence, but said he was still their client. They believed he was still in London, where he has been living for the past few months. Interviews with some who had done business with Wright in Australia in December, when reports by Wired and Gizmodo that he could be Nakamoto first emerged, and an inspection of documents published by the two tech news websites, painted a complex picture of Wright. They pointed to a smart but sometimes abrasive figure facing growing legal and financial problems at least in part caused by his involvement with bitcoin. Each bitcoin is currently worth around $447 , 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) || ‘Bitcoin is dead,’ says prominent fintech exec: Exactly three months ago, a well-known bitcoin developer, Mike Hearn, wrotea post on Mediumthat rocked the community of people who believe in the future of the digital currency and its technology. Bitcoin, he wrote, has failed. “It has failed because the community has failed… Worse still, the network is on the brink of technical collapse.” The post led to screaming headlines about the end of bitcoin.
And yet, the industry plugs along. The currency is trading at $430 USD. Transaction volume (the number of bitcoin transactions per day) is higher now than it was before Hearn’s post, according toa tracker at Blockchain.info. Just this week, theWall Street Journalprofiled a top ETF (exchange-traded fund) attorney who is advocating for a bitcoin ETF, the same effort that Cameron and Tyler Winklevoss are pushing.
Barry Silbert, CEO of the Digital Currency Group,reflected this week, “Hearnado is over.”
Maybe not. If you ask Taavet Hinrikus, CEO of international-payments app TransferWise, “Bitcoin, I think we can say, is dead. There is no traction, no one is using bitcoin. The bitcoin experiment, I think we can say, is over.”
Hinrikus made the comments in an interview with Yahoo Finance, during a visit to discuss his company’s servicelaunching in Mexico this week. “What really happened was a gold rush,” he continued. “People bought bitcoin because they thought it would be worth more tomorrow. And a lot of people got lucky. But we’re not seeing real people use bitcoin. And we don’t know what problem it solves. Now, blockchain, I think, is a genius advancement in technology. But I’m not sure we’re seeing yet where to apply it. I’m pretty excited aboutR3 and Digital Asset Holdings. I think there are many areas where using blockchain is great, but it’s still early days.”
He’s not alone in either opinion: JPMorgan CEO Jamie Dimon, for one,has also saidthat bitcoin is “doomed,” and has also drawn a distinction between the currency and its underlying ledger technology, the blockchain. His bank, along with more than 40 others, hassigned on to a consortiumto test blockchain technology for their transaction rails.
Of course, TransferWise isn’t a bitcoin company. But the company’s proposition to customers is faster transfer times, and smaller transfer fees, on international remittances. Bitcoin, as a technology, has the same appeal (among many other uses): instant transfers and tiny fees, circumventing big, expensive, sluggish banks or wire services. Startups like TransferWise, and Dwolla, and a host of others that have nothing to do with bitcoin are nonetheless in the same general pool of financial technology, or more specifically, digital payments.
The bold claim about bitcoin’s death would mean more, and be more alarming or divisive among the bitcoin community, coming from a bitcoin executive. (After all, one could make the case that bitcoin is a competitor to TransferWise, which deals in fiat currency.)But Hinrikus is no newcomer to fintech: TransferWise has raised nearly $100 million from huge names in tech investing like Peter Thiel, Marc Andreessen, and Richard Branson, and before co-founding TransferWise, Hinrikus was the first hire at Skype and worked there five years as its director of strategy.
When asked about bitcoin, Hinrikus began by saying, “We’ve certainly paid lots of attention to bitcoin and blockchain.” If tech entrepreneurs like Hinrikus feel they no longer need to keep paying attention, that could be a problem for the coin and its future viability.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.
Read more:
Bitcoin community disputes use of the term ‘Internet of Money’
How big banks are paying lip service to the blockchain
Here’s how you can invest in the blockchain
Bitcoin's biggest investor just bought its biggest news site || "I'm sorry" - Craig Wright on lack of evidence he created bitcoin: By Jemima Kelly LONDON (Reuters) - Australian tech entrepreneur Craig Wright, who earlier this week said he would provide "extraordinary proof" that he was the creator of digital currency bitcoin, will not provide any further evidence, according to a post on his blog on Thursday. Although Wright did not renege on his claim to be Satoshi Nakamoto - the name, assumed to be pseudonymous, of the person or group who created the web-based currency in 2008 - the U-turn was taken by many bitcoin experts as confirmation of their suspicions that the claims were false. "I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me," Wright wrote. "But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." Bitcoin is a web-based "cryptocurrency" that enables users to move money across the world quickly and anonymously without the need for third-party verification. Various attempts have been made to identify its elusive creator, but Wright's claims stood out due to the high-profile endorsements they received. Lead bitcoin developer Gavin Andresen and bitcoin consultant Jon Matonis both wrote blogs on Monday endorsing Wright's claims, saying they had been shown proof by Wright that he was Nakamoto. Wright said on Thursday that Andresen and Matonis had not been deceived, but "that the world will never believe that now". "I think he's significantly less likely to be Satoshi than any other person that's been suggested," another lead bitcoin developer, Peter Todd, told Reuters, referring to others who have been suspected of being bitcoin's creator. "PLAIN FISHY" After coming under pressure to provide more credible evidence that he was bitcoin's creator, Wright had blogged on Monday that he would provide "independently verifiable documents and evidence" that would back up his claims. The post could no longer be found on his blog site. "The possibility that Wright is Satoshi will always exist, but given the amount of evidence calling that into doubt, I think one would be foolish to give that possibility much weight," said Jerry Brito, executive director of Washington, D.C.-based digital currency advocacy group Coin Center. "He's provided no cryptographic evidence verifiable by the public, and many of his answers sound plain fishy... Today's statement on his blog only further tarnishes his credibility." Wright's representatives declined to give any comments on his decision to back away from providing further evidence, but said he was still their client. They believed he was still in London, where he has been living for the past few months. Interviews with some who had done business with Wright in Australia in December, when reports by Wired and Gizmodo that he could be Nakamoto first emerged, and an inspection of documents published by the two tech news websites, painted a complex picture of Wright. They pointed to a smart but sometimes abrasive figure facing growing legal and financial problems at least in part caused by his involvement with bitcoin. Each bitcoin is currently worth around $447 , 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) || 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) || Bitcoin hits two-year high as yuan worries drive Chinese demand: By Jemima Kelly LONDON (Reuters) - The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China. Trading volumes on the Chinese bitcoin exchange BTCC surged to three to five times their daily average since Friday, according to CEO Bobby Lee, as Chinese savers have moved to protect their money against a further devaluation of the yuan. Bitcoin is a web-based "cryptocurrency" that can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China's. Around 95 percent of all bitcoin trading is done via Chinese exchanges, according to industry website Coindesk, so any increase in demand from the Asian super-power tends to have a particularly significant impact. The yuan weakened to a 4 1/2-month low on Tuesday and recorded its second-biggest monthly fall on record in May. Investors reckon it will weaken further, given growing expectations for an increase in U.S. interest rates and signs that China's credit-fuelled economy is slowing again. "People are worrying about the PBOC (People's Bank of China) devaluing the yuan," BTCC's Bobby Lee said from Hong Kong. "If you're in China and you're holding onto that yuan, that's a huge risk, so they're buying into hard assets ... Bitcoin is something that is very easily traded into, so that's what's happening." Despite being championed by some as the digital money of the future, bitcoin is often dismissed as too volatile to invest in. After rocketing above $1,100 in 2013, it then fell to around $150 in early 2015. But it has since recovered, and was the best-performing currency in 2015. Bitcoin hit $548.50 on the Bitstamp exchange on Tuesday, its strongest since August 2014, leaving it up over 20 percent in the past week. Story continues With around 15.5 million bitcoins now in circulation, that puts the currency's total value, or its "market cap", at around $8.5 billion -- about the same size as Anglo American, a global FTSE 100 mining company. Lee added that on his Chinese exchange, the price of bitcoin had at one point rallied above 4,000 yuan, or over $600. That was a sign investors sensed that the yuan was being artificially supported by the PBOC, he said. NEW SUPPLY HALVING Another reason given by bitcoin experts for the currency's latest surge is that in 40 days' time, the number of new bitcoins that are added to the system every day will be halved. By the principles of supply and demand, that slower growth in supply should raise the value of the currency. Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $13,500. But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", the code was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation. The next time that is due to happen is July 10. "Bitcoin is days away from a reduction in its block reward, which will halve the daily supply coming onto the market," said Charles Hayter, CEO of London-based digital currency analysis website CryptoCompare. Hayter added that after months of struggles over how to upgrade the software run by the computers that process bitcoin transactions, dubbed the "bitcoin civil war, developers appeared to be reaching a consensus, which was also helping support the currency. "Bitcoin is emerging battle-hardened after a period of divisive governance issues and politics," he said. "Although not fully laid to rest, calmer waters look to be on the horizon as consensus on how to scale the network is appearing." (Reporting by Jemima Kelly; Additional reporting by Sujata Rao; Editing by Larry King) || Bitcoin has a governance problem, no matter who created it: By Jemima Kelly LONDON (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this. The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up. Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologised for damaging the reputations of bitcoin experts who had believed him. Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter". "Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator." While grey-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralised system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it. Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say. Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. Story continues The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250.. This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail. CIVIL WAR In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle. One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact. Andresen later shared that control with others. But when he stated publicly he believed Wright, sceptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules. Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence". Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgement right now after all the drama," he said on Twitter. The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war". Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralised form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people". Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it. "For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem." BENEVOLENT DICTATORS But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance. "Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said. Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change. One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power. "Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade." Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power. "(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center. (Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) || Australian says he created bitcoin, but some sceptical: (Repeats story published on Monday, no change to text)
* Unmasking Nakamoto would solve bitcoin mystery
* Some sceptical that Wright is Nakamoto
* Wright's blog mentions development of his "small contribution"
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)
[Random Sample of Social Media Buzz (last 60 days)]
http://gph.is/1WfvAJl Every Sunday at 16.00 (UTC+3:00) 20 winners !!! #sppl #bitcoin #iticoin Activate your app... http://fb.me/5BuK9HYh8 || 1 #BTC (#Bitcoin) quotes:
$464.45/$464.98 #Bitstamp
$459.00/$460.90 #BTCe
⇢$-5.98/$-3.55
$467.25/$467.54 #Coinbase
⇢$2.27/$3.09 || LIVE: Profit = $750.26 (9.56 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $453.91 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin = $8463.00 MXN | $458.83 USD #BitAPeso 1 USD = 18.44MXN http://www.bitapeso.com || #BTC El precio actual del Bitcoin es de 626.00$ http://bit.ly/1gElIGT || 1 #BTC (#Bitcoin) quotes:
$454.49/$455.25 #Bitstamp
$450.00/$451.26 #BTCe
⇢$-5.25/$-3.23
$457.92/$458.18 #Coinbase
⇢$2.67/$3.69 || $ 0.017551 (6.53 %) 0.00002400 BTC (0.00 %) #WHIPPED #FETISH #BDSM || 1 KOBO = 0.00000711 BTC
= 0.0032 USD
= 0.6373 NGN
= 0.0455 ZAR
= 0.3234 KES
#Kobocoin 2016-05-01 09:00 pic.twitter.com/Ub1eV9f7VC || 1 #bitcoin 1231 TL, 446 $, 399.988 €, GBP, 28189.48 RUR, 50039 ¥, CNH, CAD #btc || COTIZACIÓN INTERNACIONAL: El precio de UN BITCOIN en este momento 27-5-2016 a las 7:00 PM, es de 470,50 DÓLARES AMERICANOS.
|
Trend: down || Prices: 756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28
|
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 2017-03-17]
BTC Price: 1100.23, BTC RSI: 42.49
Gold Price: 1229.80, Gold RSI: 56.04
Oil Price: 48.78, Oil RSI: 33.93
[Random Sample of News (last 60 days)]
Analyst Outlines Why Snapchat Has a Facebook Put for Potential Buyout: Snap Inc. (SNAP) has had a pretty wild initial public offering. After some analysts and publications have discussed how overvalued the parent of Snapchat really is, one more analyst has chimed in with a less negative view of Snap. A firm called FBN Securities has rated Snap with a Sector Perform rating and assigned a $23 price target.
After shares closed on Wednesday at $22.81, what investors will care about here is that if the price of Snap gets too low then Facebook Inc. (FB) is speculated to be a buyer. There is also a Twitter Inc. (TWTR) aspect to this call.
ALSO READ:Are the Bullish IBM Investors Still Getting Enough Upside Versus the Risk?
Before getting excited that perhaps Snap would be considered as a hostile acquisition, guess again. Snap's founders have full control, and the public stock buyers have no vote whatsoever in Snap's management decisions.
FBN's Shelby Seyrafi noted that Snap has a very strong presence in the 12- to 24-year-old age demographic and that Snap has been highly innovative so far. The analyst's checks so far indicated that advertisers intend to spend much more on Snap, and at the expense of Twitter, later in 2017.
FBN did address some key concerns, hence the Sector Perform rating. These were slowing user growth, its relatively weak presence outside of the 12-to-24 demographic, and of course the weak corporate governance, in which shareholders get no vote at all. In fact, the report further highlights that Snap is unlikely to be admitted to any of the major indexes due to investors having no vote. Other concerns included massive operating losses and difficulty penetrating non-developed markets.
ALSO READ:Water War Dilemma: Why Is GE Selling Its Industrial Water Unit?
The report offers a valuation for a long-term adjusted EBITDA margin of 32%, with upside. As far as why the firm feels there is a Facebook put, that was put down at $14 per share. The report said:
One of the key points that the bears on Snap may be missing is that we believe that Facebook would love to acquire the company, and it could be willing to pay at least $20 billion-plus ($14/share) for the asset. If this is so, then investors in Snap effectively have a “put” at around $14 per share. Remember that Facebook paid $21.8 billion for WhatsApp, a company which, although it had more users than Snap, was not generating any real revenue.
ALSO READ:Dividend Woes: Frontier Loses Its Biggest Bull on Wall Street
Several reasons were highlighted for why Facebook might make a bid for Snap at the right price. The primary reason was that Facebook already tried to acquire Snap for about $3 billion back in 2013. Facebook is also said to have the balance sheet and cash flow to finance such a deal. Lastly, a deal to acquire Snapchat's parent would remove one of the few long-term threats to its business.
As for Twitter, it feels like yet another call is being made that Twitter could be left in the cold here. Thursday's report suggested that advertisers are expected to increase ad spending on Snapchat later in 2017, at the expense of Twitter more than anyone else.
ALSO READ:Will a Bitcoin ETF Keep Bitcoin Worth More Than Gold?
As a reminder, Snap's IPO price was $17.00 per share, with an offering of 200 million shares. Its initial range had been set at $14 to $16 per share for that IPO.
Investors are not all that excited about the possibility of a "Facebook put" down at $14. That being said, maybe that at least keeps the risk lower than if this were to just trade without the hope that anyone would want to buy it. Snap shares were trading up fractionally at $22.99 on Thursday morning, in a post-IPO range of $20.64 to $29.44.
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• The Happiest (and Most Miserable) Cities in America || Giuliani talks security, Trump at cybersecurity conference: Former New York City Mayor Rudy Giuliani brought a marker to a cybersecurity conference Tuesday. The occasional advisor to President Trump had a few things to say to attendees of theV4 Cybersecurity Conference, and he needed a visual aid to get those points across.
Giuliani was a late addition to the agenda of this half-day gathering put on by theVisegrád Group, which represents the shared interests of the Czech Republic, Hungary, Poland, and Slovakia. He did not get into the same level of technical detail as other V4 speakers, but his half-hour talk did yield some insights into his cybersecurity priorities and those of the president whopassed on appointing him as Secretary of State.
Giuliani, now chair of the cybersecurity, privacy and crisis-management practice at Greenberg Traurig, LLP, led off his talk at the Washington offices of Google (GOOG) with a cybersecurity confession most of us could make: “We spent too little time talking about it in the past.”
He cited CompStat, the crime-tracking system the New York Police Departmentlaunched in 1995to map offenses precinct by precinct.
“It wasn’t until 1997 or 1998 that I thought about defending it,” Giuliani said. But the city’s effort to prevent “Y2K” calamities caused by code assuming all years start with “19” led to a new awareness of its computing weaknesses.
“I found out how undefended we were,” he said. “My wonderful CompStat program, which I’m in love with, any criminal could have hacked in.”
But just as companies and governments have begun taking cybersecurity seriously, attackers have been working harder to thwart their efforts. Giuliani cited today’s epidemic of ransomware attacks, in which malware encrypts data and demands the victim pay a ransom in Bitcoin to regain access to it, as “maybe the most dangerous of all.”
He noted thatmany hospitals have been hit with ransomwareand defended their practice of keeping “quite quiet” about it. Security experts do not agree, saying that silence about an attack onlyleaves other potential victims unaware of weaknesses they should fix.
That’s when Giuliani turned to the board he’d brought to the stage, and things became complicated.
First he sketched out a pyramid, representing the hierarchy of a company or government office from C-suite executives down. Then he drew a circle around that, saying this organization “needs a company that surrounds it” to defend its computers.
That company can’t just maintain a firewall but needs to study attack techniques and attackers. “You do profiling, based on who’s coming after you,” Giuliani said.
This organization will next need a second security firm to monitor activity from the inside. “The company on the inside has to be able to be sure that they’re not missing something.”
That, however, isn’t enough either. “I believe you need a third company, which is an attack and penetration company. They are attacking you all the time, as if they are the bad guys.”
Security pros would generally agree with that — hacking-resistant organizations stay that way byhaving “red teams” try to defeat their own defenses.
We weren’t done yet, though. Giuliani said this organization will also need “an investigatory company” that can trace an attack back to its authors, whether they’re in China or, as Trump once famously said,somebody’s basement.
This fourth security firm should also monitor what experts call the“dark Web”— the vast expanse of servers unreachable through normal web browsers and apps, though Giuliani kept calling it “the black Web.”
Giuliani finally endorsed putting a fifth company to work defending individual employees with sensitive data. He cited his own circumstances, saying “you don’t have to hack me.” Instead, hacking his assistants would yield the former mayor’s passwords, contacts and schedule.
This cybersecurity-coaching part of the talk included a useful caveat: “In each one of these areas there are completely phony companies who don’t know what they’re doing.” This is true.
It is not so apparent whether this full-employment policy for cybersecurity types will make an organization more secure or result in a lot of managerial overhead. Giuliani himself noted that many companies get by with just the first three companies on his list.
Giuliani, however, noted that he doesn’t keep his meetings with President Trump on any list. He didn’t get into much other detail about his own security practices, either. For people who have struggled to get a sense ofTrump’s tech-policy goals, the most useful parts of Giuliani’s talk were his characterizations of the president’s cybersecurity priorities.
The former mayor said Trump has a holistic view of security, in that a vulnerable private sector will wind up infecting the government and vice versa: “You have to solve this problem for the whole country.”
But while there’s “no Republican or Democratic solution to this,” Trump does expect that the best answers won’t come from the public sector. “He has a prejudice that this is going to be better solved in the private sector than the government.”
More from Rob:
• What you should and shouldn’t worry about in Android security
• 3 ‘unlocked’ phones that might make your carrier unhappy
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• Broadband companies can’t build out networks, and it’s hurting consumers
• Wireless carriers are fighting for your cash, and that’s good news
• How Verizon’s new ‘unlimited’ plan compares to the competition
• Study finds most people are scarred of being hacked, but don’t do much about it
EmailRobat [email protected]; follow him on Twitter at@robpegoraro. || U.S. regulators reject Bitcoin ETF, digital currency plunges: By Trevor Hunnicutt and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency. Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE Holdings Inc's (CBOE.O) Bats exchange had applied to list the ETF. The digital currency's price plunged (BTC=BTSP), falling as much as 18 percent in trading immediately after the decision before rebounding slightly. It last traded down 7.8 percent to $1,098. Bitcoin had scaled to a record of nearly $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. "Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated," the SEC said in a statement. "The commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop." The regulators have questions and concerns about how the funds would work and whether they could be priced and trade effectively, according to a financial industry source familiar with the SEC's thinking. "We began this journey almost four years ago, and are determined to see it through," said Tyler Winklevoss, CFO of Digital Asset Services LLC. "We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors." Story continues The Winklevoss twins are best known for their feud with Facebook Inc (FB.O) founder Mark Zuckerberg over whether he stole the idea for what became the world's most popular social networking website from them. The former Olympic rowers ultimately settled their legal dispute, which was dramatized in the 2010 film "The Social Network." Since then they have become major investors in the digital currency, which relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Solutions to the puzzle come roughly every 10 minutes. Advocates of the currency and the technology it relies on to document transactions, blockchain, were dismayed by the ruling. "How do we develop well-capitalized and regulated markets in the U.S. and Europe if financial innovators aren't allowed to bring products to market that grow domestic demand for digital currencies like bitcoin?" asked Jerry Brito, executive director of Coin Center, an advocacy group. Spencer Bogart, head of research at Blockchain Capital, said bitcoin's price could fall as much as 20 percent but that its long-term adoption will continue. A Bats spokeswoman said the exchange is reviewing the SEC's statement and would have no further comment. There are two other bitcoin ETF applications awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application last year. (Reporting by Trevor Hunnicutt and Gertrude Chavez-Dreyfuss; Additional reporting by Sarah N. Lynch in Washington and John McCrank in New York; Editing by Sandra Maler and Jennifer Ablan) || Giuliani talks security, Trump at cybersecurity conference: Former New York City Mayor Rudy Giuliani testifies on Capitol Hill in Washington, D.C., July 10, 2013. (Photo: Jacquelyn Martin/AP/File) Former New York City Mayor Rudy Giuliani brought a marker to a cybersecurity conference Tuesday. The occasional advisor to President Trump had a few things to say to attendees of the V4 Cybersecurity Conference , and he needed a visual aid to get those points across. Giuliani was a late addition to the agenda of this half-day gathering put on by the Visegrád Group , which represents the shared interests of the Czech Republic, Hungary, Poland, and Slovakia. He did not get into the same level of technical detail as other V4 speakers, but his half-hour talk did yield some insights into his cybersecurity priorities and those of the president who passed on appointing him as Secretary of State . We didn’t see this coming Giuliani, now chair of the cybersecurity, privacy and crisis-management practice at Greenberg Traurig, LLP, led off his talk at the Washington offices of Google ( GOOG ) with a cybersecurity confession most of us could make: “We spent too little time talking about it in the past.” He cited CompStat, the crime-tracking system the New York Police Department launched in 1995 to map offenses precinct by precinct. “It wasn’t until 1997 or 1998 that I thought about defending it,” Giuliani said. But the city’s effort to prevent “Y2K” calamities caused by code assuming all years start with “19” led to a new awareness of its computing weaknesses. “I found out how undefended we were,” he said. “My wonderful CompStat program, which I’m in love with, any criminal could have hacked in.” But just as companies and governments have begun taking cybersecurity seriously, attackers have been working harder to thwart their efforts. Giuliani cited today’s epidemic of ransomware attacks, in which malware encrypts data and demands the victim pay a ransom in Bitcoin to regain access to it, as “maybe the most dangerous of all.” He noted that many hospitals have been hit with ransomware and defended their practice of keeping “quite quiet” about it. Security experts do not agree, saying that silence about an attack only leaves other potential victims unaware of weaknesses they should fix . Story continues The five kinds of security companies you need That’s when Giuliani turned to the board he’d brought to the stage, and things became complicated. First he sketched out a pyramid, representing the hierarchy of a company or government office from C-suite executives down. Then he drew a circle around that, saying this organization “needs a company that surrounds it” to defend its computers. That company can’t just maintain a firewall but needs to study attack techniques and attackers. “You do profiling, based on who’s coming after you,” Giuliani said. Giuliani sketched out what he believes a company needs to stay safe from cyberattacks. This organization will next need a second security firm to monitor activity from the inside. “The company on the inside has to be able to be sure that they’re not missing something.” That, however, isn’t enough either. “I believe you need a third company, which is an attack and penetration company. They are attacking you all the time, as if they are the bad guys.” Security pros would generally agree with that — hacking-resistant organizations stay that way by having “red teams” try to defeat their own defenses . We weren’t done yet, though. Giuliani said this organization will also need “an investigatory company” that can trace an attack back to its authors, whether they’re in China or, as Trump once famously said, somebody’s basement . This fourth security firm should also monitor what experts call the “dark Web” — the vast expanse of servers unreachable through normal web browsers and apps, though Giuliani kept calling it “the black Web.” Giuliani finally endorsed putting a fifth company to work defending individual employees with sensitive data. He cited his own circumstances, saying “you don’t have to hack me.” Instead, hacking his assistants would yield the former mayor’s passwords, contacts and schedule. This cybersecurity-coaching part of the talk included a useful caveat: “In each one of these areas there are completely phony companies who don’t know what they’re doing.” This is true. It is not so apparent whether this full-employment policy for cybersecurity types will make an organization more secure or result in a lot of managerial overhead. Giuliani himself noted that many companies get by with just the first three companies on his list. What Trump thinks Giuliani, however, noted that he doesn’t keep his meetings with President Trump on any list. He didn’t get into much other detail about his own security practices, either. For people who have struggled to get a sense of Trump’s tech-policy goals , the most useful parts of Giuliani’s talk were his characterizations of the president’s cybersecurity priorities. The former mayor said Trump has a holistic view of security, in that a vulnerable private sector will wind up infecting the government and vice versa: “You have to solve this problem for the whole country.” But while there’s “no Republican or Democratic solution to this,” Trump does expect that the best answers won’t come from the public sector. “He has a prejudice that this is going to be better solved in the private sector than the government.” More from Rob: What you should and shouldn’t worry about in Android security 3 ‘unlocked’ phones that might make your carrier unhappy The FCC just gave you a reason to hold off on buying a 4K TV Broadband companies can’t build out networks, and it’s hurting consumers Wireless carriers are fighting for your cash, and that’s good news How Verizon’s new ‘unlimited’ plan compares to the competition Study finds most people are scarred of being hacked, but don’t do much about it Email Rob at [email protected]; follow him on Twitter at @robpegoraro . || 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)
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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)EWZis 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.
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Permalink| © Copyright 2017ETF.com.All rights reserved || 4 Must-Read Strategies to Pay Off Your Bank Loan Without Losing Your House: If a person looked only at Hollywood depictions of Silicon Valley, it would be easy to assume that all startups are backed (or want to be backed) by venture capitalists. But VC has actually become less attractive since investors began scrutinizing prospects more closely and offering tougher terms. As a result, many entrepreneurs are turning to bank loans , preferring to take on debt instead of trading away equity. In fact, Bloomberg reports that loans to startups spiked by 19 percent in Silicon Valley last year. Related: 5 Things Startup Investors Look for Before Investing While investor cash enables startups to grow quickly, many entrepreneurs have come to value control over time. They've come to prefer using their personal homes, bank accounts and other tangible goods to secure business loans over sacrificing even a modicum of control to investors. The problem is, however, that if they lose the business, they also lose the personal assets they put up for collateral. Of course, if their companies don’t make money, they'll lose their possessions anyway -- or so the thinking goes. But the calculation isn’t that simple. Sure, retaining control is desirable. But banks are in the business of creating wealth for themselves. Collateral guarantees they won’t lose money on business loans, and borrowers can be sure that if they don’t pay, the banks will collect. The good, the bad and the reality of bank loans Business loans are a win for banks. If borrowers fail to make timely payments, lenders can seize their homes or other assets and sell the properties to recoup the principal and then some . Meanwhile, the entrepreneurs have lost their businesses, houses and who knows what else. But business loans aren't always a bad idea. If borrowers make their scheduled payments, they cultivate trust with lenders, making it easier to secure credit in the future. Once a loan is repaid in full, the bank will likely lend to the borrower again, possibly without requiring personal assets as collateral. Story continues Related: 5 Main Reasons Banks Turn Down Small-Business Owners for Loans Another benefit is business credit. A loan repaid in good standing will boost the company’s score and make it easier to access credit lines and spending accounts. Businesses also tend to receive loans with lower APRs or fixed payments. The fact that the money is being used to grow a company gives lenders an incentive to offer competitive borrowing terms. Entrepreneurs considering taking out bank loans can use the following guidelines to avoid critical mistakes in managing their business and personal finances: 1. Conduct an honest financial assessment of the company. Take a deep look at what the business needs . Tools such as the Working Capital Needs Calculator shed light on the true costs of expansion, as well as indicate which areas show promise and which are dragging the company down. Be realistic about how much is needed, and ask for that amount. Don’t live outside the business’s means. Getting clear on the business’s financial situation can prevent a business from ending up with payments it can’t afford. The Pennsylvania-based Plaza group’s financial troubles should serve as a cautionary tale. The company missed a $67 million balloon payment on a property loan, then had to scramble and renegotiate the terms to avoid default. This is a damning situation for any business, let alone a fledgling startup. 2. Don’t overborrow. Resist the temptation to take the extra $10,000 the bank offers to tack on to a loan. The few hundred dollars it adds to monthly installments may seem manageable now, but those payments could become unwieldy. With a carefully planned budget, there's no reason to take more than the initial ask. Here’s what happens to people who borrow more than they can afford. A 24-year-old woman was forced to the brink of bankruptcy after borrowing $6.5 million she couldn’t repay . The bank approved the financing despite the fact that her income didn’t match the loan and her investments carried considerable risk. The bottom line: Just because money is on the table doesn’t mean it's a good idea to take it. 3. Separate personal and business finances. Never co-mingle business and personal bank accounts. Separating finances helps you avoid headaches when categorizing expenses, so it’s smart practice from a bookkeeping perspective. But the separation also protects any personal assets during business loan disputes and shields personal finances from examination by banks, accountants and the IRS. The IRS has significant power to examine personal accounts when auditing business and investment deals. The Bitcoin exchange Coinbase found this out when the IRS demanded data on millions of customers who it believed were noncompliant. Coinbase resisted the IRS’s order, but the situation illustrates the importance of a clear separation of finances and stringent compliance practices. 4. Prioritize business loan payments. The first bill to be paid each month should be the company loan installment, especially if there are any personal assets on the line. The company can do without some amenities for a month or two, but if a loan payment gets missed, the results could be disastrous. Going without a home is a lot more traumatic than having to go without cable. Entrepreneur Jesse Genet knows this well: She repaid tens of thousands of dollars in student loan debt while running a successful business. She prioritized her startup’s expenses over her own and admits to having struggled with mounting credit card during lean months. However, her aggressive saving and debt repayment strategy enabled her to bootstrap her company while paying off her debt -- a feat made possible by clear priorities and a disciplined approach to finance. A business loan constitutes an enforceable contract, even when the collateral takes the form of a family home or vehicle. Losses may feel personal to the borrower taking the hit, but banks aren’t in the business of being personal. They give loans to make money. Related: Why You Should Keep Your Personal and Professional Finances Separate So, as long as entrepreneurs are clear on the stakes -- and prepared to make good on their loans -- they can earn from a bank relationship, as well. || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission. "There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program. Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent. Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added. To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply. He sees the bitcoin price possibly rising to $2,288 by the end of the year. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) View comments || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission.
"There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program.
Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF.
If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity.
On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent.
Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority.
Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added.
To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year.
SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year.
Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins.
Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency.
Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply.
He sees the bitcoin price possibly rising to $2,288 by the end of the year.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) || The irony of bitcoin and the SEC: Cameron and Tyler Winklevoss at the New York Department of Financial Services in 2014. (Reuters) On Friday, the SEC denied a proposal from Cameron and Tyler Winklevoss to launch the first regulated bitcoin exchange-traded fund. The plan was to list shares of the Winklevoss Bitcoin Trust on the Bats Global Exchange under the ticker COIN. The ETF, pegged to the bitcoin price on Gemini (their bitcoin exchange site), would offer mainstream investors the chance to hold an asset tied to the value of bitcoin without actually buying bitcoin in the usual way. The SEC said noand said it rather harshly. You might say the SEC, with a 38-page letter, rejected friend requests from both the Winklevoss brothers and from bitcoin. But none of this should have come as any surprise to bitcoin buyers and believers. Price fluctuations In its decision , the SEC said that it does not believe the ETF proposal was 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. The SEC also did not believe that the Gemini exchange, which launched in 2015, and which the bitcoin ETF would be pegged to, is secure enough: The Exchange represents that it has entered into a comprehensive surveillance-sharing agreement with the Gemini Exchange with respect to trading of the bitcoin asset underlying the Trust
however, the Commission does not believe this surveillance-sharing agreement to be sufficient, because the Gemini Exchange conducts only a small fraction of the worldwide trading in bitcoin, and because the Gemini Exchange is not a regulated market comparable to a national securities exchange or to the futures exchanges that are associated with the underlying assets of the commodity-trust ETPs approved to date. Translation: The SEC believes a bitcoin ETF would be too volatile and unsafe to regulate, and, if pegged to Gemini, the price would not necessarily fairly represent an accurate price across all exchanges. Story continues Insufficiently regulated; concentrated ownership The SEC also pointed to the high risk of bitcoin writ large, beyond just what the Winklevoss brothers had proposed. One commenter states that the market for bitcoin, by trade volume, is very shallow, the SEC decision reads. This commenter notes that the majority of bitcoin is hoarded by a few owners or is out of circulation. The commenter also notes that ownership concentration is high, with 50 percent of bitcoin in the hands of fewer than 1,000 people, and that this high ownership concentration creates greater market liquidity risk, as large blocks of bitcoin are difficult to sell in a timely and market efficient manner
This commenter also states that several fundamental flaws make bitcoin a dangerous asset class to force into an exchange traded structure, including shallow trade volume, extreme hoarding, low liquidity, hyper price volatility, a global web of unregulated bucket-shop exchanges, high bankruptcy risk, and oversized exposure to trading in countries where there is no regulatory oversight. Translation: Due to concentrated ownership of bitcoins, and to shady dealings at bitcoin exchanges, the SEC sees a similar fundamental problem with digital currency itself. Of course it does. The entire original appeal of bitcoin, when first introduced in a 2009 white paper by someone using the pseudonym Satoshi Nakamoto, was its anti-government appeal. Bitcoin is meant to be an unregulated, decentralized, non-fiat currency. As one DC-based risk-analysis firm, Oxbow Advisory, tweeted : Dont ask the fiat to remove the fiat. (The joke there: dont expect the government to warm to a currency that undermines it.) Philosophical divide And this is the great irony of recent efforts to bring bitcoin more mainstream, and to obtain various licenses and regulatory approvals: its a contradiction of bitcoins original, libertarian appeal. After reading the response, it really does make sense that they would decline it, says Brian Hoffman, project lead for OpenBazaar, a peer-to-peer marketplace that runs on bitcoin. I think so far their concern has been to be able to control it and understand it, and the nature of the market over time has always been unstable. And another point they brought up around large ownerships being controlled by people that we dont know who they are, I think that is a pretty big question mark. The creator of bitcoin, Satoshi Nakamoto, has yet to be unmasked (many leading voices in bitcoin doubt the reports that it is Australian cybersecurity expert Craig Wright ) and theoretically still owns somewhere around one million bitcoins of the 16.2 million supply. So the SEC doesnt like that it doesnt know who created bitcoin . And if Satoshi were to unload their coins, it would create a huge market eventand in that scenario, the SEC, if it had approved a regulated bitcoin asset, could be on the hook for questions around customer losses, and thats something they want to avoid, says Hoffman. So it makes sense, from a conservative standpoint, to just stay away from it. To be sure, there is some involvement of mainstream financial institutions in bitcoin exchanges. Coinbase, the leading American bitcoin exchange , is backed by BBVA; Crypto Facilities, a new bitcoin derivatives exchange, was launched by a former Goldman Sachs exec and former BNP Paribas exec. And beyond the exchanges, a number of blockchain-as-a-service companies, such as Chain , have amassed big-bank partners. But banks and financial institutions have shown less interest in bitcoin as a currency. You can see bitcoin businesses splitting broadly into two camps. There are those who want it to exist outside of government reach, untouched by regulators, and similarly arent excited by banks getting involved in the space; and there are those who feel regulation will bring legitimacy and mainstream usage. Stefan Thomas, CTO of Ripple (a blockchain partner for banks that also has its own rival cryptocurrency, XRP), is in the latter camp. I was a contributor to bitcoin early on, I was a bitcoin believer, but over time it just never became more legitimate and serious, and to me, that was the problem. The price of bitcoin fell by nearly 20% in the hours after the SEC denial on Friday, then bounced back somewhat. That temporary crash was also ironic, since anyone holding bitcoin as a speculative investment should have anticipated that the SEC would deny the ETF proposal. Bitcoin price from March 9 to March 13, via CoinDesk Using bitcoin vs. holding bitcoin As Hoffman of OpenBazaar says, the SEC decision is only a setback for people that have the mentality that bitcoin is just for holding over time. For me, personally, the thing thats so fascinating about bitcoin is being able to use it, not just hold it. The price going up is great, but in my eyes thats just an extra added bonus. An ETF existing doesnt preclude me from buying or using bitcoin. For bitcoin to thrive, it doesnt necessarily need any mainstream approval or regulation, though such regulation would certainly bring more faith from traditional, cautious investors. For an example of the divide, look no further than the different regulatory approaches of different exchanges. Two years ago, when the New York Department of Financial Services released the BitLicense, its set of regulatory rules that would apply to digital currency transmitters, it had an instantaneous dramatic effect: Coinbase, the leading US site for anyone to buy bitcoin, launched its bitcoin exchange without waiting for a BitLicense; Kraken, a bitcoin exchange that sees most of its trading volume in euros, swiftly halted all operations in New York rather than seek licensing ; the Winklevoss brothers, eager to launch their own exchange Gemini, waited until they could obtain proper licensing (not a BitLicense, but a chartered LLC trust license) and did not launch until that happened . Watch for the philosophical divide to continue to put stress on bitcoin businesses. Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin crashes after SEC rejects Winklevoss proposal 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
[Random Sample of Social Media Buzz (last 60 days)]
Where's a good list of all bitcoin crowdfunding websites? http://ift.tt/2kQ3cgI #reddit #bitcoin || $1192.10 at 16:15 UTC [24h Range: $1135.01 - $1199.00 Volume: 10327 BTC] || 2017-02-26 00:00
1 BTC son: 6.394.096Gs. #btc #gs #pyg #bitcoin #paraguay #guaranies || Bitcoin Price Will Surge to $1645 in March If Winklevoss ETF Gets Green Light: Research http://bit.ly/2lNNIy4 || Hear O Bitcoiners ! Hear ! With an attentive ear ! || @collins_carlo Invest with #bitcoin price protection #investing in the world's 1st #giftcards #cryptocurrency #exchange #btc #CNTZ > @CCEDK_ || So new bill to take effect in April defines other coins besides #bitcoin that will be accepted as legal payment.
http://business.sohu.com/20170217/n481019205.shtml … || Bitcoin
The Billion Coin
Dascoin
..and thats all || Current price of Bitcoin is $1026.15 @Chain || Average Bitcoin market price is: USD 1,180.00, EUR 1,115.16
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Trend: up || Prices: 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77
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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 2021-06-17]
BTC Price: 38053.50, BTC RSI: 47.49
Gold Price: 1773.80, Gold RSI: 28.31
Oil Price: 71.04, Oil RSI: 64.89
[Random Sample of News (last 60 days)]
50 New, Easy Ways To Make Money From Home: maxbelchenko / Shutterstock.com Whether you're between jobs, a stay-at-home parent or just want to make some extra money without leaving the house , these work-from-home jobs can add quite a few dollars to your budget. Knowing how to make money online can help you make ends meet or reach your savings goals. See: 5 Unexpected Work-From-Home Jobs You Can Do Right Now Legitimate work-from-home jobs do exist, but beware of scams that require you to pay up front for the chance to earn extra money. Find out how you can easily make extra money from home. Last updated: June 4, 2021 portrait of attractive young african woman with curly hair sitting behind the window, while playing with little dog. Pet Sit If you love animals, getting paid to watch other people's pets is a dream job. Sites like Rover connect pet sitters with pet owners. You'll need to set up a profile explaining why you'd be a great pet sitter, but once you're approved, you can set your own rates and hours. You could earn more than $1,000 per month, according to Rover. Dont Miss: 25 Hot Jobs That Pay More Than $100K a Year Portrait of tourist with digital camera at cafe. Sell Stock Photographs If you have a knack for capturing the perfect shot, you could turn those pictures into cash. Sites like Shutterstock, Fotolia and Adobe Stock enable users to upload images and get paid when people purchase them. You'll receive a fraction of the sales price -- and a good picture can earn you thousands of dollars if it's downloaded a lot. You must have the exclusive rights to the photos, and you must include signed releases for any recognizable people or private property in the images. Apply Now: 38 Companies Hiring For Remote Jobs Right Now Smiling mature woman listening music with headphones. Transcribe Audio Clips If you can type quickly and accurately, you can earn money transcribing audio clips in your free time. Companies like TranscribeMe! pay about $20 per hour, and top earners can earn $2,200 a month from these work-from-home jobs. If you have a specialized background like medical or legal training, you can earn higher rates. Related: 100 Ways To Make Money Without a 9-to-5 10-11 Years, 101 Ways to Make Money Without a 9 to 5 job, 11850, 35-39 Years, 50-54 years, 55-59 years, Apple, Beautiful, Bedroom, Bonding, California, Casual Clothing, Caucasian, Childhood, Choice, Color Image, Communication, Community, Computer, Concentration, Confusion, Customer, Day, Domestic Life, Driveway, Education, Enjoyment, Four People, Garage Sale, Girls, Granddaughter, Grandfather, Grandmother, Happiness, Hat, Heterosexual Couple, Holding, Homework, Horizontal, Indoors, Internet, Laptop, Latin American and Hispanic Ethnicity, Learning, Los Angeles, Mature Adult, Mature Men, Mature Women, Mid Adult, Mid Adult Men, Mixed Race Person, Motivation, Multi-Ethnic Group, Notebook, One Person, Other Keywords, Outdoors, Photography, Pre-Adolescent Child, Reading, Selective Focus, Shopping, Sitting, Smiling, Sofa, Standing, Student, Studying, Summer, Sunny, Technology, Thinking, Togetherness, United States, Using Laptop, Young Woman, affection, background people, concerned, confused, couch, decision, female, focused, girl, gorgeous, home, idea, lifestyle, man, neighborhood, people, pretty, problem, question, relax, room, shopper, sitting on bed, smart, thinker, thoughtful, three quarter length, woman, yard sale Sell Unused Stuff You could host a garage sale, but there's no guarantee you'd get enough people who want to buy your things. If you've looking for quick cash, consider selling items around your house, including your CDs, DVDs, games or books on the Decluttr site. Just enter the barcode, and Decluttr will tell you how much they'll pay you for it. Story continues Read More: 5 Times You Should Splurge, Settle or Skip When Shopping Young woman using laptop while sitting on bed. Take Paid Surveys Online Various online websites will pay you for sharing your opinions on a range of topics. For example, e-Rewards is open to anyone older than 13. You'll earn e-Rewards currency for each survey you complete, and you can redeem it for gift cards. Other options include GlobalTestMarket and Harris Poll Online. The amount you make depends on how many paid surveys you're eligible for and how quickly you complete them. 11850, Apple, Beautiful, Bedroom, Casual Clothing, Caucasian, Choice, Communication, Computer, Concentration, Confusion, Education, Homework, Indoors, Internet, Laptop, Learning, Motivation, Notebook, One Person, Other Keywords, Reading, Sitting, Sofa, Student, Studying, Technology, Thinking, Using Laptop, Young Woman, concerned, confused, couch, decision, female, focused, girl, gorgeous, home, idea, lifestyle, pretty, problem, question, relax, room, sitting on bed, smart, thinker, thoughtful, woman Become a Remote Sales Agent If you have a smooth voice and like talking to customers, sign up as a sales agent. You'll take calls like you would in a physical call center, but some sales agent positions are remote jobs. For example, you can sign up with the company LiveOps to take calls for 30-minute blocks. 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If you partner with a site like Udemy, you can set your price -- between $20 and $200 per course -- and keep a portion of the earnings based on whether you drive the traffic to the site or Udemy's advertising attracts the students. teenager keyboarding text message in social networks on computer using internet connection sitting in library.Young chinese student searching information on school websites Surf the Internet There are dozens of ways to make money online. For example, companies want to know what you're doing online, so they pay data aggregators like Nielsen to collect that information. To do this, Nielsen pays people to share details about their computer and mobile phone usage by installing an app. You can earn up to $50 for each mobile device, plus sweepstakes entries for computers. Justice law icon court concept Serve as an E-Juror You can make extra cash by serving as a mock juror so attorneys can practice their arguments and judge the value of their cases. Sites like eJury recruit U.S. citizens over 18 who haven't been convicted of a felony. You can't be an attorney, paralegal or legal assistant -- or closely related to an attorney or employed by a law firm. Expect to make between $5 and $10 for each verdict. car sales. Rent Out Your Car Renting out your car is one of the many ways you can make money off of tourists in your city. When you're sitting at home, you're not using your car, so consider making money from home by renting it to someone else. Companies like Getaround enable you to offer your car to someone who wants to rent it when you're not using it. Getaround offers car owners $1 million of insurance and 24/7 roadside assistance -- so you're fully protected. Active car owners earn about $10,000 per year, according to Getaround. Summer Beach Holiday Online Shopping Concept Get Cash Back When You Shop Sign up with Ebates to get cash back when you shop online. Ebates has negotiated deals with more than 2,000 companies. Each time you click through the Ebates site to partner sites, the company pays a referral fee to Ebates, and Ebates shares it with you. You can also earn $25 for each friend you refer to Ebates. Take a Look: 27 Most Lucrative Side Hustles for People Over 50 Close up of a teacher marking a test. Become an English Proficiency Test Grader To test for English proficiency, foreign students take tests that include writing paragraphs, which need to be scored. Companies like EditFast need people to grade the tests, and you can earn between $18 and $25 per hour. You must be a native or native-like English speaker, have a four-year college degree, pass proficiency exams and complete the training. Host and friends pass food round the table at a dinner party Host Dinner for Guests If you like to cook -- and others like to eat your food -- you could make money by hosting dinners at your home. Companies like EatWith coordinate guests for your dinner parties. You must apply and host a demo event so the company can verify your culinary and hosting abilities. If you're accepted, you go through additional training -- and then you'll be on your way to making up to $700 per dinner. recycling-bottles Recycle for Cash Recycling helps the Earth by reducing pollution, but it can also put some cash in your pocket. Some states implement a bottle deposit you can get back when you turn in the used bottles at a collection center. For example, in California, you can earn 5 cents for most glass and aluminum cans and 10 cents for 24-ounce or larger bottles. Young adult woman wearing headphones watching TV on a digital tablet whilst relaxing on the sofa. Watch Promotional Videos Some companies put together videos they want consumers to watch -- and sites like InboxDollars find and reward consumers willing to do it. You'll earn a little cash for each video you watch. 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On sites like Airbnb, you can list your space, set your rate and wait for guests to sign up. You have the flexibility to rent when you want and close up shop when you want your house to yourself. credit card statement with bank account, calculator on desk Share Your Spending History Companies want to know what you're spending money on. Snap pictures of your receipts, and upload them to the ReceiptPal app to earn entries into sweepstakes and points you can redeem for gift cards. Young man working casual at his laptop with legs on the chair. Test Websites If you like surfing the internet, consider becoming a website tester for UserTesting. Companies that are launching new sites will pay you to provide feedback about them and perform tasks to make sure they're functioning properly. You can expect to make $10 for each website you review. Saving discount coupon voucher with scissors, coupons are mock-up Sell Coupons Online If you have any coupons around you know you won't use, someone else might be willing to pay for them. For example, if someone is planning to buy a new laptop, a 10-percent-off coupon could save him a substantial amount, which might motivate him to pay you a portion of what he'd save to get the coupon. eBay does have some restrictions on coupon sales, however. You can never sell coupons for free items, and you can sell only 25 coupons -- or up $100 worth -- each month. Golden bitcoin coin against digital currency chart, shallow depth of field Trade Cryptocurrencies Cryptocurrencies are currencies electronically created and controlled in a decentralized manner instead of by a government. Types of cryptocurrencies include Bitcoin and Litecoin. Trading cryptocurrencies can be lucrative -- Bitcoin went up considerably between Jan. 1, 2017 and July 1, 2017. 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Read: 22 Side Gigs That Can Make You Rich Young woman in sporty outfit doing some stretching exercises and recording it on camera Become a Virtual Fitness Instructor If you like helping people get in shape but don't like traveling to the gym or other people's homes, consider marketing yourself as a virtual fitness instructor. You might need to get certifications to gain credibility with clients so you can oversee their workouts via webcam or other technology. Alternatively, you can have short, online meetings with clients and provide them with workouts to do on their own. Either way, you can work from home. Haircuts Color and Extensions Sell Your Hair If your friends tell you they wish they had your hair, you might have a source of income growing right on your head. Sites like HairSellon provide an easy way to make money from home: You can list your hair for sale, and the site even has a calculator to help you set a reasonable price depending on its length, thickness and color. 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You must apply for each category you feel you're qualified to provide answers for, and you need to have a degree or certification in that area. The amount you earn depends on how in-demand your area of expertise is. Male runner doing stretching exercise, preparing for morning workout in the park Bet On Your Ability To Get in Shape Did you know you can get paid to sweat? Getting healthy can help you win money by competing in health challenges. Sites like DietBet allow you to compete with others in weight loss challenges. You must upload pictures to verify your starting and finishing weight. You'll pay an entry fee, but the fees go into a pot that everyone who meets the goal splits. You'll never lose money as long as you meet your goal. Woman hand accepting a delivery of boxes from deliveryman Accept Packages for Neighbors If you've ever missed a package, you know how difficult it can be to reschedule your delivery. That's why people use eNeighbr to get packages accepted for them. If you're going to be home anyway, consider signing up to receive packages for your neighbors. Packages will be sent directly to you, and the customer will pick them up. You can expect to make $3.50 per package. More From GOBankingRates Jaw-Dropping Stats About the State of Retirement in America How To Keep Your Financial Planning On Track in 2021 20 Home Renovations That Will Hurt Your Home's Value 27 Things You Should Never Do With Your Money This article originally appeared on GOBankingRates.com : 50 New, Easy Ways To Make Money From Home || The Zacks Analyst Blog Highlights: United Parcel Service, Home Depot, Lowe's, General Motors and FedEx: For Immediate Release Chicago, IL – June 11, 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: United Parcel Service Inc. UPS, The Home Depot Inc. HD, Lowe's Companies Inc. LOW, General Motors Company GM and FedEx Corporation FDX. Here are highlights from Thursday’s Analyst Blog: Top 5 Picks to Gain from Best Economic Rebound in 80 Years On Jun 8, in its semi-annual Global Economic Prospects report, the Washington-based World Bank projected that the global economy will see the fastest post-recession growth in 80 years in 2021. Despite muted growth in many emerging and developing economies, a few developed economies will spur an impressive turnaround that will elevate global GDP growth. Notably, the United States will be at the forefront of this record-breaking global economic rebound. Several global economic agencies including the World Bank projected that an astonishing turnaround of the U.S. economy in 2021 will lead to global economic recovery. The U.S. rebound should drive demand for the country's major trading partners, including Canada, Mexico, China and the Eurozone countries. U.S. to Lead Global Economic Recovery in 2021 On Jun 8, the World Bank estimated that the global economy will expand at 5.6% in 2021, its best post-recession turnaround in 80 years. January's projection was for 4.1% growth. However, the global economy will remain at around 2% below its pre-pandemic level. Meanwhile, the U.S. economy is forecast to grow at 6.8% in 2021. On May 31, the Organization for Economic Cooperation and Development (OECD) raised the U.S. GDP growth rate for 2021 to 6.9% from 6.5% projected in March. Global GDP was projected to grow 5.8% in 2021 from 5.6% estimated in March. On Apr 6, the International Monetary Fund (IMF) raised the U.S. GDP growth forecast for 2021 to 6.4% from 5.1% projected in January. Consequently, the global GDP growth rate for 2021 was raised to 6% from 5.5% forecast in January. The Oxford Economics predicted 7.7% U.S. GDP growth in 2021, up from 7% estimated on March. Supported by strong U.S. economic growth, world GDP is estimated to rise 6.3% compared with the 6.1% forecast in March. On Apr 18, Wall Street Journal reported that economists on average expect U.S. GDP to expand nearly 6.4% this year from 6% in March. Per the Wall Street Journal, this will be the largest U.S. GDP growth since 7.9% in 1983. Story continues Wall Street Not Overvalued Before the global outbreak of the coronavirus, the U.S. stock markets were going through their historically longest bull run. The advent of the pandemic put Wall Street in recession within less than a month. However, this recession was not due to any economic or financial factors but purely owing to an unprecedented health hazard. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — have soared 89.1%, 92.5% and 109.8%, respectively, from the recession trough on Mar 23, 2020. However, if we eliminate the coronavirus-led recession, the Dow is up 16.5% from its pre-pandemic high recorded on Feb 12, 2020 to Jun 9, 2021. The S&P 500 has gained 24.3% from the pre-pandemic high registered on Feb 19, 2020 to Jun 9, 2021. The teach-heavy Nasdaq Composite rallied 41.4% in the same period. None of the above-mentioned figures looks like exaggerated returns given the unprecedented fiscal and monetary stimulus injected into the U.S. economy. The current market valuation is likely to be sustained by a robust projection of U.S. GDP in 2021 and record-breaking corporate profits. Per our projections on Jun 9, total earnings of the market's benchmark — the S&P 500 Index — are expected to climb 34.6% year over year on 10.4% higher revenues in 2021 compared with a 13.1% year-over-year decline in earnings on 1.7% lower revenues in the coronavirus-ridden 2020. Moreover, in 2022, total earnings of the S&P Index are forecast to grow 11.3% year over year on 6.4% higher revenues. How to Select Stocks Several good stocks are available to invest in for the rest of 2021. However, to filter among those we need to apply our VGM Style Score model. Using this model, we have narrowed down our search to five corporate giants (market capital > $50 billion) that have provided better returns than the S&P 500 Index in the past three months. These stocks have strong growth potential for the rest of 2021 and have seen solid earnings estimate revisions within the last 30 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a VGM score A. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . United Parcel Service has an expected earnings growth rate of 29.8% for the current year. This Zacks Rank #2 company has a long-term (3-5 years) growth rate of 9.9%. The Zacks Consensus Estimate for its current-year earnings has improved 0.1% over the last 7 days. The stock has a current dividend yield of 2% and jumped 20.2% in the past three months. The Home Depot has an expected earnings growth rate of 15.5% for the current year (ending January 2022). This Zacks Rank #2 company has a long-term growth rate of 11.4%. The Zacks Consensus Estimate for the current year has improved 9.6% over the last 30 days. The stock has a current dividend yield of 2.1% and climbed 14.3% in the past three months. Lowe's Companies has an expected earnings growth rate of 21.4% for the current year (ending January 2022). This Zacks Rank #2 company has a long-term growth rate of 13.7%. The Zacks Consensus Estimate for the current year has improved 9.8% over the last 30 days. The stock has a current dividend yield of 1.3% and appreciated 11.6% in the past three months. General Motors has an expected earnings growth rate of 10.4% for the current year. This Zacks Rank #1 company has a long-term growth rate of 9.9%. The Zacks Consensus Estimate for its current-year earnings has improved 2.3% over the last 7 days. The stock has advanced 11.4% in the past three months. FedEx has an expected earnings growth rate of 14% for the current year (ending May 2022). This Zacks Rank #2 company has a long-term growth rate of 12%. The Zacks Consensus Estimate for the current year has improved 0.3% over the last 7 days. The stock has a current dividend yield of 0.9% and surged 9.1% in the past three months. 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 United Parcel Service, Inc. (UPS) : Free Stock Analysis Report Lowes Companies, Inc. (LOW) : Free Stock Analysis Report The Home Depot, Inc. (HD) : Free Stock Analysis Report General Motors Company (GM) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000: Ark Investment Management CEO Cathie Wood said in a Bloomberg TVinterviewthatbitcoinwill go to $500,000 despite the largest cryptocurrency plunging to a low of almost $30,000 on Wednesday.
• Woodsaidon Wednesday that bitcoin is “on sale” now and said that even after today’s drop, the cryptocurrency is not necessarily at a bottom. She describes the market as “emotional” and says it is difficult to call the bottom.
• Bitcoinfell for a fifth-straightday, putting the largest cryptocurrency on track for its worst month in more than three years.
• During the interview, Wood briefly addressed Tesla CEO Elon Musk’senvironmental concernson bitcoin mining, explaining that the adoption of solar energy in mining will accelerate dramatically.
• Wood said the prospects for a bitcoin exchange-traded fund approval in the U.S. this year have now increased because of the recent plunge in price. “The odds are going up now that we have had this correction,” she said.
• At press time Wednesday, bitcoin was changing hands at around $40,753, a steep drop from the cryptocurrency’s all-time high of $64,829.14 set in April.
• Earlier this month, Wood announced she hadjoinedthe board of Amun Holdings, the parent company of 21Shares, a Swiss-based firm that offers exchange-traded products that give investors an easy to way to gain exposure to crypto.
Consensus 2021: Cathie Wood will be speaking at Consensus by CoinDesk, our virtual experience May 24-27.Register here.
• Bitcoin Remains Under Pressure; Faces Resistance At $45K
• Time to Decide: Are You an Investor or a Gambler?
• Bitcoin Price Plunge ‘Feels Like Capitulation,’ Says Galaxy’s Mike Novogratz
• Crypto Assets Aren’t a ‘Real Investment,’ ECB Vice President Says || Bitcoin (BTC) Breaks Down From Channel Amid Bearish Sentiment: Bitcoin (BTC) has broken down from a descending parallel channel that has been in place since April 14.
It’s currently attempting to find support, approaching a strong Fib support area near $37,000.
BTC had been trading inside a descending parallel channel since April 14. While it initially bounced at the support line of this channel, it proceeded to break down on May 19.
Currently, it’s trading at a horizontal support area found at $39,000.
However, technical indicators are bearish. The Stochastic oscillator has just made a bearish cross and the RSI has fallen below 30. The MACD is also negative and decreasing.
An interesting development is that the daily RSI is at its lowest level since the March 2020 crash, when it was at 14.5. The RSI is currently sitting around 24.5 today.
The wave count suggests that this is wave C of an A-B-C corrective structure.
There is a confluence of Fib targets between $36,500 and $36,930. This is the 0.786 Fib retracement support level of the most recent upward movement (white). In addition, it would give waves A:C a 1:1.27 ratio.
If this zone fails, the next support level would likely be found near $30,848.
The even shorter-term chart provides a similar target near $37,333. This is found using a Fib projection on sub-waves 1-3 (red).
The weekly chart shows two bearish developments. It’s the first time since September 2019 that the MACD has given a bearish reversal signal and the Stochastic oscillator has made a bearish cross.
At the time, BTC was in corrective cycle wave two. Therefore, it makes sense that the price is currently in cycle wave four.
The main support levels are found at $41,500 and $34,267. These are the 0.382 and 0.5 Fib retracement levels.
While it has fallen below the former, the weekly candlestick could still close above it while leaving a long lower wick. This would make sense considering that the price has just reached a horizontal support area, which could be a resistance-to-support flip.
Bitcoin is approaching a strong Fib support area found near $37,000. This level could help BTC to rebound.
For BeInCrypto’s previousbitcoin(BTC) analysis,click here. || Elon Musk says he supports crypto over fiat currency in reaction to Bitcoin backlash: Elon Musk says he supports crypto over fiat currency in reaction to Bitcoin backlash (Getty/iStock) Elon Musk says that he supports crypto over traditional fiat currency in a reaction to the Bitoin backlash he has faced. Bitcoin and other cryptocurrencies have dramatically slumped since the Tesla CEO announced his company would no longer accept it as payment for their electric vehicles. Musk addressed the situation on Twitter on Saturday and threw his weight firmly behind cryptocurrencies. The true battle is between fiat & crypto. On balance, I support the latter, Musk tweeted in response to a follower who asked him about the anger he has faced. Fiat currency is paper money supported and backed by a government, such as the US dollar. The crypto crash that followed Teslas Bitcoin announcement has seen around $1 trillion wiped off the markets value, and Bitcoin fell as much as 30 per cent to around $30,000 on Wednesday. The true battle is between fiat & crypto. On balance, I support the latter. Elon Musk (@elonmusk) May 22, 2021 Earlier this month Musk said Teslas Bitcoin decision was because of the environmental impact of Bitcoin mining, much of which is powered by cheap coal-powered electricity in China. Experts have estimated that the Bitcoin industry alone uses as much power each year as a country the size of Malaysia. Musk announced in February that Tesla had bought $1.5bn worth of Bitcoin and had started to accept it as a payment option. With prices falling over the lat week, Musk took to Twitter to post the Diamond hands emoji, signaling that he was not selling Bitcoin. The phrase is used by financial traders who hold onto stocks during a sell-off because they see long-term profitability. Earlier this week Musk also posted a Dogecoin meme on Twitter and assured his followers he had not and would not sell his holdings in it. The price of Dogecoin fell significantly following Musks appearance on Saturday Night Live last month in which he called cryptocurrency a hustle during one sketch. Story continues The price of Bitcoin had climbed back up to more than $37,500 on Saturday, down from a high last month of $64,000. Read More Eurovision singers arrive in style for the competition Elon Musk says a base on the moon and a city on Mars is the next logical step for humanity Bitcoin price live: BTC value drops again as China threatens crypto crackdown || Coinbase Just Tripled Revenue in First Post-IPO Earnings – Here’s Why You (Probably) Shouldn’t Invest: Coinbase, the largest crypto exchange which had a blockbuster IPO last month, reported its first earnings ever today as a public company. The company tripled its revenue in the quarter, which was in line with analysts’ expectations.But is investing in cryptocurrency – let alone a major crypto platform – really a good idea?
See:Coinbase, the Largest US Cryptocurrency Exchange, Goes Public – ‘It Will Infect the Financial Universe with a Bad Case of FOMO’Find:What Are IPOs and Are They Worth Investing In?
Coinbase has been one of the most anticipated initial public offerings of 2021, as this is the first crypto exchange to go public. Many described the listing as a “watershed” moment.
Coinbase’s total revenue was $1.8 billion for the first quarter of 2021. Net revenue was $1.6 billion, of which $1.5 billion was transaction revenue and $56.4 million was subscription and services revenue, according to a letter to shareholders. In addition earnings per share are at $3.05. Thie compares to the $585 million in revenue in the fourth quarter of 2020. The consensus EPS estimate was $3.06 and the consensus revenue estimate was $1.81 billion, according to Seeking Alpha.
The stock appeals to investors who want to get involved in bitcoin, and have exposure to the crypto, but without holding the asset and hence being subjected to wild swings. However, following the announcement, the stock was down 7% a at $265 after hours.
Nasdaq had set a reference price of $250 per share for Coinbase on the eve of its opening day on the stock exchange, projecting a value for the largest U.S. cryptocurrency exchange at $49.19 billion “ahead of its landmark stock market debut on Wednesday,” according to a statement. The stock opened at $342 that day.
See:Six Best Blockchain Stocks to Buy Right NowFind:Coinbase’s IPO Made a Lot of People Rich(er)
The company said there is a continued momentum in crypto adoption and that they’re seeing unprecedented levels of interest in the cryptoeconomy. “A May 2021 survey by Mastercard and The Harris Poll reveals 40% of people around the world plan to use crypto assets in the next year, with 67% of millennials reporting interest in the technology. We are encouraged by this appetite as we welcome more people into the cryptoeconomy and expand access to the financial system around the world,” according to the letter.
Coinbase added that they also benefited from institutional momentum, as it has won mandates from a diverse group of institutional customers, ranging from hedge funds and corporate treasuries to pension funds and insurance companies, “via our secure and trusted range of trading and storage solutions. In addition to owning crypto assets in their treasuries, both public and private corporations are coming to us and expressing interest in commerce, payroll, and custom white label solutions.”
Despite its strong results, Coinbase said that the rapid expansion of the cryptoeconomy also creates challenges for Coinbase, especially with competition increasing as new market entrants join the cryptoeconomy every month. “Our competitors are supporting certain crypto assets that are experiencing large trading volume and growth in market capitalization that we do not currently support, as well as offering new products and services that we do not offer. We welcome these challenges as they indicate that the market we serve is growing rapidly, but we also have to continue to move quickly to address them, and that inspires us towards action and growth,” according to the letter.
Peter Cohan, a lecturer of strategy and entrepreneurship at Babson College’s MBA program and author of “Goliath Strikes Back,” tells GOBankingRates that since going public about a month ago, Coinbase stock has lost 22% of its value.
“Despite tripling its revenue in the first quarter, its shares are falling after the announcement. It declined to offer specific guidance and it does not bode well that Bitcoin trades down 30% since Coinbase’s IPO. There is no objective way to determine what Bitcoin is worth or whether Coinbase can grow into its valuation. But with its dependence on high transaction fees and competition from rivals that charge nothing for trading virtual currencies, now does not seem to be an attractive point at which to buy,” Cohan adds.
In its letter, Coinbase warns investors that it’s important to remember that its business is inherently unpredictable. “MTUs, Trading Volume, and therefore transaction revenue currently fluctuate, potentially materially, with Bitcoin price and crypto asset volatility. As a result, revenue is difficult to forecast. In the interest of transparency, our approach to sharing information relative to future performance will be consistent with how we operate the business. That includes assessing and planning for a wide range of potential outcomes.”
See:Banks Might Treat Bitcoin Like ‘Real Money’ – These Experts Weigh the Pros and ConsFind:Peter Thiel Backs New Blockchain-Based Crypto Exchange that Some View as Coinbase Competitor
“The wind is in our sails right now, and it feels good. But crypto is a young volatile industry and there will come a day when times are harder. We know this because we’ve experienced major crypto winters where financing was difficult to get, partners cut us off, and we lost large parts of our employee base. Tension gets high during these times. We’ve sustained by enduring, and not over-reacting.It’s never as good as it seems, and it’s never as bad as it seems,” the company said in the letter.
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This article originally appeared onGOBankingRates.com:Coinbase Just Tripled Revenue in First Post-IPO Earnings – Here’s Why You (Probably) Shouldn’t Invest || Asia-Pacific Shares Finish Mostly Higher; China Central Bank Comments Ease Inflation Concerns: The major Asia-Pacific stock indexes closed mostly higher on Thursday, as investors positioned themselves ahead of the release of a U.S. consumer inflation report for May. Japan’s Nikkei ended higher on economic rebound hopes. Hong Kong’s Hang Seng ended slightly lower as investors awaited the U.S. inflation data. South Korean stocks ended higher on foreign buying. Shares in China rose as inflation fears eased, and in Australia, technology and banking stocks were strong. Cash Market Performance In Japan, the Nikkei 225 Index settled at 28958.56, up 97.76 or +0.34%. Hong Kong’s Hang Seng finished at 28738.88, down 3.75 or -0.01% and South Korea’s KOSPI Index closed at 3224.64, up 8.46 or +0.26%. China’s benchmark Shanghai Index settled at 3610.86, up 19.46 or +0.54% and Australia’s S&P/ASX 200 Index finished at 7302.50, up 32.30 or +0.44%. Japan’s Nikkei Ends Higher on Economic Rebound Hopes Japan’s Nikkei Index closed higher on Thursday, as shipping firms rose on prospects of more economic reopenings and drugmakers were boosted by reports of government support. Signs that more economies are reopening amid a steady vaccine rollout underpinned shipping firms, with Nippon Yusen jumping 3.65% to be the biggest gainer on the Nikkei. Japan plans to finish vaccinating all citizens who have applied for shots by October-November, Prime Minister Yoshihide Suga said during a debate between party leaders on Wednesday. China Stocks End Higher as Inflation Fears Ease China stocks ended higher on Thursday, as regulators played down inflation worries and as Sino-U.S. talks helped underpin sentiment. China’s central bank governor said inflation is “basically under control”, and monetary policy would be kept steady, in comments a day after concerns over inflationary pressures were fanned by data showing the fastest rise in factory-gate prices in 12 years. In other news, top U.S. and Chinese commerce officials spoke by telephone and agreed to promote healthy trade and cooperate over differences, China’s commerce ministry said on Thursday, the latest high-level exchange as the countries spar over disagreements. Australia Shares Rise on Tech, Banking Stocks as Focus Shifts to US Inflation Australian shares rose on Thursday, led by technology and banking stocks, while global markets closely watched for U.S. inflation data for clues on how soon the Federal Reserve will start tapering its massive stimulus. Technology stocks were the best performers on the benchmark index, jumping 2% to close at a more than one-month high. Banks rose 0.4%, with three of the so-called “Big Four” closing in positive territory. Story continues In commodity-related shares, domestic gold stocks recorded gains, even as bullion prices remained largely subdued, with investors turning cautious ahead of the U.S. inflation data and a European Central Bank meeting. Energy stocks fell 1.1% and capped gains on the index, as oil prices fell on weaker-than-expected fuel demand. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Daily Gold News: Thursday, June 10 – Gold Lower Ahead of Inflation Data EUR/USD Mid-Session Technical Analysis for June 10, 2021 Bitcoin Faced Resistance At The 20 EMA Price of Gold Fundamental Daily Forecast – Lower as Investors Sense Fed Has Control of Inflation Bitcoin Buy Signal Appears Natural Gas Price Fundamental Daily Forecast – Large EIA Build Expected, but Focus Remains on Late June Heat View comments || TikTok Slaps its Way Toward Crypto Influence Supremacy: Crypto influencers and businesses give their POVs on the FinTok phenomenon and its impact on retail investing. Where do people go to learn about cryptocurrencies? The knee-jerk answer to this question may say more about who you are asking than the dynamic reality of social media. If you have been a cryptocurrency adherent since Bitcoin’s debut, you might still look to mailing lists, where Bitcoin ’s white paper was originally introduced. Depending on how and when you became involved in the crypto world, you might rightfully point to the influence of Telegram, Reddit, YouTube, Instagram, or Twitter (where reporters tend to congregate). But a new top crypto influencer has been named in a recent report by CryptoHead . The report determines influence by adding the total audience of all individuals collected from Top 100 influencer lists -- and the new biggest influencer is BitBoy, rated above Justin Sun and Vitalik Buterin in terms of total reach. (Note: The ratings are for crypto-only influencers -- so Elon Musk is not included.) Image source: CryptoHead, data current as of May 2021. If you look at the numbers, it’s pretty clear what the secret to Armstrong’s success is -- his TikTok reach in May 2021 is higher than Justin Sun’s powerful Twitter reach. Among the top 5 on the list, BitBoy is the only one to have really seized the power of TikTok in terms of reaching a new audience. We asked Ben Armstrong, Founder & Host of Bitboy, for a response to his new status, and he responded: “It’s a humbling honor to be the #1 rated influencer in crypto. This truly is not about me though; it’s about my community the BitSquad. We have built a beginner-friendly and accepting community that serves as a grassroots movement ushering in crypto adoption across the world,” Armstrong said. It’s worth noting that the figures noted in the chart are already outdated -- Bitboy’s audience is expanding rapidly. The channel now has 410,000 Twitter followers, 222,000 on Instagram, and has just crossed the 1 million subscriber threshold on YouTube. Story continues Is TikTok’s Influence a Positive Thing? It’s easy to underestimate TikTok -- according to a recent report by DreamGrow Facebook has a massive 2.74 billion users, YouTube has over 2.2 billion, and Instagram has 1.2 billion users. Those numbers make TikTok’s 689 million active users look comparatively humble. However, TikTok is big on engagement. It’s content is short-format, highly visual, easy to browse, and compelling especially to Gen Z and Millenials. Since 2020, TikTok has shown its strength in creating coordinated action among users -- it brought us thousands of young people dancing to Cardi B and made sea shanties relevant with ShantyTok. Really, check out The Wellerman if you missed that one. What’s even more telling is the way KPop fans used TikTok to coordinate user actions on Twitter and effectively block alt-right hashtags on Twitter, which they did throughout the 2020 election season. Anyone with familiarity in marketing can tell you how difficult it is to make anyone leave one platform to take an action on another platform. TikTok users form strong parasocial relationships with creators on the platform. They take dubious cooking advice and slightly less dubious self-help information and a lot of dancing, singing, music, and silliness. They also form de facto Robinhood investing groups to drive up the price of Gamestop, along with Reddit. Now FinTokers are ready to take the cute and loveable Dogecoin “to the moon.” TikTok is big on excitement, with a growing user base that creates motivated communities. It doesn’t need to be as big as Facebook or Twitter. Five minutes spent “doom scrolling” Twitter or Facebook will demonstrate how fractured and often quarrelsome those audiences can be. TikTok moves large numbers of motivated, mostly young, people with coordinated grace. The crypto contingent of TikTok have been dubbed “FinTok” and they are a force to be reckoned with -- but are they a force that is helping new retail crypto investors? Rachel Siegel, known as CryptoFinally on Twitter , YouTube, and Instagram, remains unconvinced as to the quality of information found on FinTok. “There is a ton of information on the internet, the danger of TikTok is that you are only listening to influencers and people who have made a boatload of money. The best thing you can do is broaden your perspective and take a larger look at what you're investing in. There are tons of projects out there, you won't hear about them all on TikTok,” Siegel said. To clarify, Siegel’s objections to TikTok are less a condemnation of the creators on there (let alone creators like BitBoy, which launched on other platforms first) and more a reminder to new retail investors to do their own research and not put all their trust in just a few creators making short-format videos. “Yes, there are moon missions you can jump on, yes, there will be influencers who have made unbelievable amounts of money, but for the average retail investor, this can be dangerous. Misunderstanding the market that you are investing in can be costly, the number one thing I recommend for all newbie retail investors is to do their own research and make their own decisions,” Siegel said. Siegel added that she has chosen to avoid TikTok as a platform due to concerns over data security. Crypto influencer Scott Melker, known as “ The Wolf of All Streets ” is similarly skeptical of the impact TikTok has on new investor behavior. “Millennial and Gen Z traders are notorious for their interest in meme stocks and coins, having pumped overvalued assets like GameStop and DOGE to the moon . Wall Street is scrambling to combat the power of retail traders who are willing to buy jokes and hold with diamond hands come hell or high water. This behavior is largely being promoted on social media, with TikTok at the center of the craze,” Melker said. Exchanges like Canada-based Bitbuy have embraced TikTok as a way of reaching new crypto investors with educational content. “Our content on TikTok focuses on Crypto 101, and engaging developments in the crypto industry. We leverage short video format, alongside on-trend content, and viral sounds on the app,” Jordan Anderson, COO of Bitbuy said. “The younger demographic is more aware, and susceptible to content that helps them build their wealth at an earlier stage in their lives. There is a shift for crypto exchanges to not only focus on the seasoned trader segment but the younger pool of user base as well.” Anderson believes that TikTok is a positive influence, creating a new generation of retail investors that take building their holdings more seriously at a younger age. “Millennials and Gen Z are fast learners and have profound access to tech, and therefore will adopt investing or trading in crypto from an earlier stage in their lives, and it will become a pillar in their lives, and for future generations to come,” Anderson said. Deacon Hayes, founder of Well Kept Wallet, has also been using TikTok to reach younger investing audiences. He believes that TikTok is changing user behavior for the better. “Retail investor behavior is changing because of what people are viewing on TikTok... Teenagers are getting into investing in Cryptocurrencies just because they saw a TikTok video on how it could potentially make them rich... They invest in NFTs and Crypto because they are new and have the potential for exponential returns. The challenge is there is a lot of risk and not all Cryptocurrencies are created equal,” Hayes said. “It is important for people to realize that this is not a good sole long-term investment strategy... Do your research and make sure you invest your money wisely and don't gamble with your future.” Justin Kline, the co-founder of Markerly, an influencer marketing agency, is unapologetically bullish on the hype machine that is TikTok. “It's VERY hype-driven. Everyone wants to pile onto the next pump and dump and social media is becoming the primary forum for such discussions. TikTok is absolutely helping to drive hype. It consists of a younger demographic who are more likely to allow their emotions to dictate their investment decisions,” Kline said Kline pointed out that “bubbles” are not a phenomenon exclusive to crypto -- and that perhaps the fiat bubble of USD is the one to watch. “Currently the Federal Reserve is printing an unprecedented amount of money which is already beginning to spike inflation. That's why Bitcoin has taken the stage this year -- it has a fixed amount. It's also interesting that many people are talking about how crypto is a bubble but none of them are considering that perhaps the true bubble is a fiat currency – a bubble that might be popping before our eyes,” Kline said. Conclusion Whether you like the style of content or not, TikTok is here to stay. Since its launch in 2016, it has increased exponentially in users and downloads, becoming one of the most popular apps in the Apple Store. It’s true that its audience is mostly younger -- according to Statista, in 2020 more than 62% of TikTok users in the US were between 10 and 29 years old and just 7% were over age 50. This was a conscious choice on the part of the creators who were targeting a younger demographic with the high-energy, short-format, video-driven platform. Clearly, the TikTok audience is becoming a formidable buying block. For influencers, investors, and blockchain businesses, it seems a greater risk to ignore this audience than it is to engage with it. The platform shows no sign of slowing down -- even when the 45th U.S. President tried to ban it. Perhaps traditional and institutional investors would be well served to open an account and see what these kids are saying. Even if you are disinclined to join in the frenzy, it seems prudent to keep an eye on what they are doing so the next Dogecoin to hit terminal velocity doesn’t take them completely by surprise on its way to the moon. Cover modified image by iXimus from Pixabay See more from Benzinga Click here for options trades from Benzinga Tom Brady, Gary Vee, and Ray Dalio Reach Consensus on Crypto Bitcoin, You OK, Buddy? © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || DaVita's (DVA) Deal to Aid Patients in Kidney Transplantation: DaVita Kidney Care, an operating division of DaVita Inc. DVA, recently inked a deal with the National Kidney Foundation (NKF) to introduce an innovative, one-year long pilot program with an aim to improve health equity in kidney transplantation. Notably, the new program has been developed within NKF’s THE BIG ASK: THE BIG GIVE platform. This collaboration is likely to provide a boost to DaVita Kidney Care, which in turn can help in generating more revenues for the company. THE BIG ASK: THE BIG GIVE Platform at a Glance NKF’s platform helps kidney patients and their families to share the requirement for a kidney with their community and find a living donor. The new pilot program provides extensive support and tools in a virtual format, thereby allowing NKF to offer high-touch, in-depth education and support to patients and families looking for a kidney transplant from a living donor. After careful selection by both DaVita and NKF, the decision has been made for the pilot program to take place in Colorado, New York, Minnesota and New Mexico. The selected states have an unique opportunity to boost health equity in kidney transplantation. Benefits of the Collaboration To shed some light on kidney disease, more than 500,000 people in the United States are presently living with kidney failure. Without dialysis, these patients only have one option survive and that is a transplant. There are around 100,000 patients waiting to receive a kidney (average wait time of three to seven years for a deceased donor on the basis of location) and therefore many of these patients can benefit from living organ donation. Zacks Investment Research Image Source: Zacks Investment Research By bringing together DaVita’s experience in care delivery and NKF’s innovative program, patients will be able to get the necessary support and information in their search for living donors. Market Prospects Per a report by Grand View Research, the global transplantation market was worth $8.4 billion in 2020 and is anticipated to witness a CAGR of 11.5% during the forecast period (2021-2028). Increase in demand for novel tissue transplantation products and organ transplantation for the treatment of organ failure is a major factor driving the growth of this market. Hence, the collaboration comes at an opportune time for DaVita. Story continues Other Notable Collaborations In April, DaVita's integrated kidney care subsidiary VillageHealth, in partnership with Blue Cross and Blue Shield of Minnesota (Blue Cross), introduced an innovative program that caters to the holistic health needs of certain eligible members afflicted with chronic kidney disease (CKD) or end-stage kidney disease (ESKD). In March, the company announced the extension of its collaboration with Fresenius Medical Care ’s FMS North America wing to use the latter’s NxStage home hemodialysis machines and related technology for patients across the United States. Notably, the agreement supports the companies’ efforts to empower more people living with kidney failure to select home dialysis as an option. Price Performance Shares of this Zacks Rank #2 (Buy) company have gained 4.2% on a year-to-date basis, against the industry’s decline of 11.3%. Other Stocks to Consider Some other top-ranked stocks from the broader medical space are HCA Healthcare, Inc. HCA, and Encompass Health Corporation EHC, both carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. HCA Healthcare’s long-term earnings growth rate is expected at 12.3%. Encompass Health’s long-term earnings growth rate is projected at 17.3%. 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 DaVita Inc. (DVA) : Free Stock Analysis Report Fresenius Medical Care AG & Co. KGaA (FMS) : Free Stock Analysis Report HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report Encompass Health Corporation (EHC) : Free Stock Analysis Report To read this article on Zacks.com click here. || ELEV8, Appliqates Hybrid Event Division Announces Miami Live Event June 2-3, 2021 Participating Companies & Speakers: Wellness Sponsor Toosh: Dedicated to keeping our attendees and speakers safe Toosh: Dedicated to keeping our attendees and speakers safe Dinner Sponsor XPERIENTIAL - Advisory XPERIENTIAL - Advisory Sheridan Wyoming, May 04, 2021 (GLOBE NEWSWIRE) -- Appliqate Inc. (OTC: APQT) announces key speakers and schedule for ELEV8 Miami 2021 that will take place June 2nd & 3rd in Wynwood Miami during Bitcoin Week. The conference will take place at the Wynwood Garage. ELEV8:Miami addresses the latest trends and investment opportunities for digital assets NFTs, ALT Coins, blockchain adoption, cryptocurrencies and the state of the institutional and retail market. The conference boasts 20+ speakers and will include dynamic workshops, panel discussions, presentations, case studies, and networking events. The initial lineup of speakers , features Michael Terpin, CEO of Transform Group, Jesus Rodriguez, CEO of Into the Block, Gerard Dache, Founder of Government Blockchain Association, Zach Wildes, Celsiuss Head of Community, Roberto Machado, CEO of Beta Blocks, Sheldon Evans, Youtuber and Crypto Enthusiast , Santana Moss and Matt Shapiro, Former NFL-National Football League Players , Charles Silver, Founder of Permission.io. View the full speaker lineup at https://www.elev8con.com/elev8-miami-summit-2021/ In 2019 13% of wealth advisors have allocated funds in crypto - twice the amount in 2018 - and 2020 is primed to bring an even larger rise in the adoption of digital assets for institutional investors. ELEV8: Digital Assets will convene investors and thought leaders to facilitate a pivotal dialogue between the most important stakeholders in the digital asset sector and existing financial system. said Todd Brockman Chairman and Co-Founder, ELEV8. Panel discussions, presentations, case studies, and networking events will take place over two days in Miami. On June 2nd there will be a welcome reception and networking event for Attendees and Speakers.. Attendees will leave the conference with an understanding of how decentralized finance continues to impact issues such as liquidity, derivatives, trading and infrastructure. Story continues The conference will tackle a wide variety of discussions pertinent to digital assets, notably, Alt Coins: State of the Market,Insights on the NFT Explosion, The impact of Cryptocurrency adoption on government, A Deep Dive into Defi analytics , How Crypto Markets Work with Financial Institutions, and more. Attendees will include institutions who have or are considering deploying capital into crypto markets, including angel/venture investors, ETF managers, financial advisors/wealth managers, hedge funds, insurance firms, mutual funds, pension funds, private equity, research analysts and RIAs and more. From now until June 1st, ELEV8 is offering a discounted registration price if registration is paid for with bitcoin. For more information on Bitcoin ticket prices, visit: https://checkout.opennode.com/p/f869da80-877c-4f12-8ec6-af2cbd80110a For more information on this event: https://www.elev8con.com/ elev8-miami-summit-2021/ For Full Agenda : https://www.elev8con.com/elev8-miami-2021-schedule/ ELEV8 Miami Sponsors: Wellness Sponsor: Toosh: Dedicated to keeping our attendees and speakers safe https://tooshproducts.com/ Dinner Sponsor: https://xperientialtech.com/ip-advisory ELEV8CON Partner Organizations Official Newswire Partners: Blockchain Wire - CryptoCurrencyWire Media Partners: CoinTelegraph - Crypto Oracle - Smartereum - Houston Blockchain Alliance - ICOholder - Brave New Coin - AMB Crypto-BitAngels About ELEV8 ELEV8s vision is that emerging new technologies such as digital assets, cryptocurrencies, AI, and blockchain create a more interconnected economic global ecosystem, working to eliminate barriers to growth and creating increased value for stakeholders across all industries. We believe future technologies will serve as the foundation for new economic systems which are more efficient, open, and accessible. We believe future technologies will serve as the foundation for new economic systems which are more efficient, open, and accessible. Our mission is to enable that progress with industry research, distribution of the most current news and by hosting industry events that convene executives at the forefront of shaping the future of emerging technology. Our platform is home to the worlds leading tech experts; we collaborate with industry stakeholders across vertical markets and openly share insight. ELEV8 is at the forefront of shaping the future. View ELEV8s research & industry content here: https://www.elev8con.com/industry-content/ About Appliqate Inc: Appliqate Inc is a publicly traded technology development firm that provides businesses, executives and investors access to capital and innovative solutions by utilizing platforms and business models to disrupt industry sectors. With an emphasis on media, blockchain, live entertainment, and intellectual property, the company accelerates the growth of tech solutions in these markets. Appliqates management team represents a unique combination of technology development, operating, investing, financial and transactional expertise. Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as may, will, to, plan, expect, believe, anticipate, intend, could, would, estimate, or continue, or the negative other variations thereof or comparable terminology are intended to identify forward- looking statements. Forward-looking statements involve known and unknown risk, uncertainties, and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our managements beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Reports on Form 8-K and the Quarterly Reports on Form 10-Q and Annual Reports on Form 10- K. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. General inquiries: https://www.elev8con.com/contact-us/ Press and media inquiries: [email protected] Speaking Inquiries: https://www.elev8con.com/speaker-submission-form/ Exhibition or Sponsorship Opportunities: [email protected] Attachments Wellness Sponsor Dinner Sponsor
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Winklevoss twins aim to take Bitcoin mainstream with a regulated exchange - NYT: (Reuters) - Cameron and Tyler Winklevoss are trying to firm up support by creating the first regulated Bitcoin exchange in the United States, dubbing it the "Nasdaq of Bitcoin", the New York Times reported. The investor twins have hired engineers from top hedge funds, enlisted a bank and engaged regulators with the aim of opening their exchange named Gemini in the coming months, the newspaper reported. Representatives at Winklevoss Capital could not be reached for comments outside regular business hours. The Winklevoss twins, who famously accused Facebook Inc founder Mark Zuckerberg of stealing their idea, have been seeking regulatory approval for a bitcoin exchange-traded fund. Bitcoin is a digital currency that, unlike conventional money, is bought and sold on a peer-to-peer network independent of central control. Bitcoin is not backed by a government or central bank and its value fluctuates according to demand by users. Users can transfer bitcoins to each other over the Internet and store the currency in digital "wallets." Last March, New York's financial services regulator Benjamin Lawsky said he wanted companies that want to operate virtual currency exchanges in the state to submit formal applications, in a step toward eventual state regulation of bitcoin exchanges. The New York regulator held two days of hearings with industry participants last January, including the Winklevoss brothers, and said he planned to issue "BitLicenses" to virtual currency firms. (Reporting by Supriya Kurane in Bengaluru) View comments || PRESS DIGEST- New York Times business news - March 6: March 6 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
* Multinational companies accused of human rights abuses abroad are on the counterattack, seeking to bring down the lawyers who target them. Drummond Co Inc, a coal producer based in Birmingham, Alabama, recently asked a federal judge to hold in contempt Terrence Collingsworth, a lawyer who has accused companies of mistreating workers, as part of a libel suit it is pressing against him.(http://nyti.ms/1aPfUXS)
* What is really under examination in Ellen Pao's lawsuit against Kleiner Perkins Caufield & Byers, the firm in which she was junior partner, is the question of why there are so few women in leadership positions in Silicon Valley. At stake is any hope that the tech world can claim to be a progressive place, or even a fair one.(http://nyti.ms/1aPgchp)
* The United States Postal Service has announced it will replace its fleet of Grumman mail trucks with what it calls its next-generation delivery vehicle. The goal is to harness new technologies, increase fuel efficiency and help the Postal Service better compete on package deliveries with the likes of FedEx and United Parcel Service.(http://nyti.ms/1aPjgtI)
* The nation's largest banks appear to have the financial strength to survive a nightmarish world where unemployment soars, house prices plummet and Wall Street crashes, the Federal Reserve said on Thursday.(http://nyti.ms/1aPh6u6)
* The Islamic State, the violent millitant group that espouses a return to a seventh-century caliphate, has been astonishingly successful at spreading its message using 21st-century social media, according to a study released Thursday.(http://nyti.ms/1aPhGZ3)
* The United States Marshals Service said on Thursday that 14 registered bidders took part in an auction for 50,000 Bitcoins, worth about $14 million, that were seized in connection with the online bazaar Silk Road.(http://nyti.ms/1aPhN6N)
(Compiled by Ismail Shakil in Bengaluru) || 'Days Felt Like Years': What Morgan Spurlock Found When He Tried to Survive on Bitcoin for a Week: Morgan Spurlock ate nothing but McDonald’s slop for 30 days straight and didn’t die. Surely he can live on bitcoin alone for a week and survive.
That’s what theSuper Size Medirector and star attempted to do in last night’s installment ofMorgan Spurlock Inside Man, his docu-series on CNN. And, for the most part, he succeeded, give or take a missed meal or a few.
Related:'Super Size Me' Filmmaker Is Producing a New Web Series on Entrepreneurship
“I’m pretty much like everyone else,” the handlebar-moustached host said at the top of the episode, filmed last year when a single bitcoin was still worth around $630. “I’ve heard the news stories of bitcoin, but I really don’t know what it is.” The 44-year-old documentarian is far from alone there.A full three-quarters of Americans still don't know what the world’s first digital currency isand they have zero interest in using it, a recent study found.
Of course, before Spurlock could use bitcoin, he had to get his hands on some first, which he quickly accomplished at the buzzingBitcoin Center NYC, not accidentally “just a stone’s throw from the New York Stock Exchange and Wall Street.” There, in a “sweaty” throng that he described as a “really smart guys’ frat party,” he acquired his first bitcoin using an Android phone and a bitcoin wallet app calledAegis Wallet. (Oddly, the app’s website is nowMIA.)
Spurlock forked over what looked like $630 for one BTC. Man, those were the days. One bitcoin is now worth around $242, perCoinDesk.
Related:Why This Internet Pioneer Believes Bitcoin Has the Power to Break the Cycle of Poverty
Next, with a new “invisible” chunk of virtual cash burning a hole in his pocket, Spurlock sets out to “see what it can do.” But first he explained, aided by cool animations, that bitcoin is “just like any other currency,” except it requires no middle man and is anonymous, “well, sort of.”
But back to spending that fresh, hot BTC...starting with a fresh, hot slice of margherita pizza and a bottle of water. With a scan of his bitcoin wallet QR code on his smartphone screen, Spurlock scored both forms of sustenance from a bitcoin-friendly neighborhood pizzeria. The meal total: $5.27 or .0083 BTC. Success. “It was so easy! Look at that. Pow! I’m the king of bitcoin,” he boasted before digging in. Given itscheesy bitcoin history, pizza was an apropos first purchase.
Related:50 Insane Facts About Bitcoin (Infographic)
Spurlock’s mellow bitcoin odyssey then takes him to a Brooklyn bodega, where he bought $42.72 worth of groceries in the cryptocurrency. The store owner said he clocks about 1,000 bitcoin transactions at his produce shop per month and that he prefers bitcoin payments to credit card payments. Why? Because they’re cheaper, safer and there’s no chargebacks, the shopkeeper said.
Not all shopkeepers are so keen on the virtual money, though. Several Spurlock tried to pay in bitcoin had never heard of it before. He also comes up cold when trying to pay his Time Warner cable bill and several other bills in bitcoin.
Midway through the show, Spurlock gets around to digging into the seedy underbelly of bitcoin and the growing fears of fraud plaguing the controversial currency in the wake of the fall of Mt. Gox and Ross Ulbricht’s recentconviction. To get some answers, he talked with legendary white-hat hacker Dan Kaminsky, Senator Joe Manchin (D-West Virginia), bitcoin booster Andreas Antonopoulos and Chris Tarbell, a former FBI agent who assisted in the takedown of Silk Road. With a reluctant guiding hand from Tarbell, Spurlock scored a “Faux-lex,” a fake Rolex Submariner on the now defunctSilk Road 2.0. The illegal knockoff, “possibly taken from someone’s house earlier today,” Tarbell mused, totaled about .45 BTC (or about $285), express shipping and handling from Hong Kong included.
Related:Bitcoin in 10 Years: 4 Predictions From SecondMarket's Barry Silbert
Spurlock’s journey eventually lands him atCoinminer, a bitcoin mining operation. He traveled to the startup’s Geneva, N.Y. factory, after buying plane tickets to nearby Rochester with BTC on Expedia (and showed his entire bitcoin wallet address to the world in the process). He put together bitcoin mining processors at Coinminer for about a $200 day’s pay, paid out in, yep, bitcoin. By the end of his shift, he knew the basics of bitcoin’s blockchain backbone and his stomach was growling, but his hunger would not be satisfied in Geneva. Highlighting bitcoin’s continued lack of mass adoption, Spurlock wasn’t able to find one restaurant that accepted the nascent crytpocurrency.
Related:U.S. Marshalls to Auction 50,000 Bitcoins From Silk Road
“OK, so maybe I overestimated the popularity of bitcoin just a little bit,” he admitted, “and, in time, some of these restaurants might start accepting bitcoin, but not until it becomes immensely more popular...All I wish is that I could actually, like, eat bitcoin because I’m starving.”
In the end, Spurlock said trying to live off of bitcoin for a few days felt like years. Hey, at least he didn’t gain 25 pounds and nearly blow out his liver like he did inSuper Size Me. Check back with him after the world super sizes bitcoin, which could be a few decades, at least.
Related:16 Startup Trends That Will Be Huge in 2015 || Bitcoin Could Make Banking A Possibility In Africa: Bitcoin has been the subject of a widespread debate over whether or not cryptocurrencies will catch on and become a viable currency adopted across the world. While the current user base remains relatively small and confined to the tech crowd, some say bitcoin may find its calling in poor areas where banking is almost non-existent. Banking Options In Africa Limited In Africa, the majority of the population does not have a bank account and relies on money transfer operators like Western Union and MoneyGram in order to send and receive cash. However, the fees for such services are typically around 12 percent; meaning families who are often in dire need of every cent are missing out on a sizable portion of cash because of the service charge. Blockchain Reduces Service Charges Enter bitcoin. Supporters for the cryptocurrency say bitcoins blockchain technology would allow individuals to transfer money to one another with drastically lower service charges and much shorter wait times. In Ghana, Beam is one business that has already started to make this idea a reality. The company allows people to convert bitcoin that has been sent from abroad into the local currency for just a 3 percent service fee. The companys founders are also planning Value Remittances, a service that will give people in other countries the ability to pay Ghanaians water and electric bills using bitcoin. Bitcoin Isnt Ready To Service Africa Although the benefits of using bitcoin in Africa are plentiful, critics say the cryptocurrency hasnt come far enough to be a viable option. Many banks around the world are still wary about using the currency and merchants in Africa have yet to adopt bitcoin as a payment method. Additionally, a sense of mistrust will likely keep Africans themselves from wanting to use bitcoin and their experience using Western Union or MoneyGram is likely to keep them coming back. Related Link: New York Weighs Benefits Of Bitcoin Integration Story continues Volatility An Issue Bill Gates remarked earlier this year that bitcoin wasnt feasible in poor nations. He cited bitcoins volatility as a reason his own charity isnt looking to use bitcoin, and that the currency alone wouldnt be able to solve global payment challenges. Gates said poor nations wouldnt benefit from a currency whose value rises and falls so much against the local currency, so for now, bitcoin wouldnt benefit such countries. See more from Benzinga Colorado Launches The First Weed-Based Job Seeker Site Starbucks Makes Getting Your Caffeine Fix Even Easier Greece Bailout Talks Grind To A Halt, Markets Reconsider Possible 'Grexit' © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Force Minerals Corporation Acquires Crypto Currency CandyCoin: IRVINE, CA / ACCESSWIRE / March 9, 2015 /Force Minerals Corporation (FORC), is pleased to announce the Company has completed negotiations for the acquisition of an established Crypto Currency CandyCoin a digital crypto currency company and its digital mining assets and intellectual properties.
CandyCoin can be found at the following URL:www.candyco.in. CandyCoin is a digital crypto currency that trades under the symbol "YUM" atwww.allcrypt.comandhttps://askcoin.net/trading/YUM/BTC.
Candycoin has its own mining pool that is a peer to peer mining network.
"The acquisition of CandyCoin a developing Crypto Currency fits into the company's developmental plans to bring enhanced value to crypto currencies, promote the use of CandyCoin and establish a conversion capability so that CandyCoin can be utilized as a mainstream alternative currency," states company President, Mr. Nate Lewis. "We expect that the company will develop CandyCoin into a very liquid and merchantable currency over the next several months."
The company will initially be establishing a mining presence to support the mining of CandyCoin, as well as establishing itself in the trading arenas in order to take advantage of market discrepancies.
Upon the successful implementation of this process the company will expand to other relative Crypto Currencies as opportunities become available.
Backed by a publicly trading company, Digital Mining Corporation is dedicated to creating shareholder value by utilizing market opportunities to successfully mine crypto currencies on a global level maximizing their value to the highest levels possible while being highly innovative utilizing crypto security and blockchain technologies to minimize Bitcoin transaction completion times for consumers.
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; FORC'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:
Force Minerals Corporation.
President: Mr. Nathaniel Lewis1-970-660-8197www.candyco.inwww.digitalminingcorp.comir@forceminerals.com
SOURCE:Force Minerals Corporation || 5 ways to trade the Greece deal: <p>Greece's bailout extension doesn't spell an end to market uncertainty, CNBC's "Fast Money" traders said. </p><p>"If you get any type of issues, gold's the way to play it," said trader Brian Kelly. </p><p>European finance ministers on Friday agreed to extend Greece's bailout package for four months, contingent on Greek fiscal reforms. Though markets reacted positively to the news, more geopolitical concerns loom, Kelly said. </p><p> Read More Deal reached between Greece, creditors </p><p>Conflict in Ukraine, for instance, could derail markets, he said. If market volatility drives gold higher, Kelly sees upside in the SPDR Gold Trust (NYSE Arca: GLD) , in which he has a long position. </p><p> </p><p> Trader Guy Adami was also bullish on gold. He looked to trade gold miners with the Market Vectors Gold Miners ETF (NYSE Arca: GDX) . </p><p> The Greek deal bodes well for European stocks, said trader David Seaburg. If European equities climb, the SPDR Euro STOXX 50 ETF (NYSE Arca: FEZ) could prove a good play, he said. </p><p> "I do believe it's going to go up near-term," Seaburg said. </p><p> Trader Dan Nathan didn't see as much promise in European stocks. He said he planned to look at put options in the fund on projected weakness down the road. </p><p>Russia provides another uncertainty for European markets, Kelly said. Moody's Investor Service downgraded its sovereign debt to junk status on Friday. </p><p> Read More Moody's downgrades Russia sovereign debt to junk </p><p> He sees downside in the Market Vectors Russia ETF (NYSE Arca: RSX) moving forward. </p><p> Disclosures: <br/> </p><p> Guy Adami </p><p> Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. </p><p> Brian Kelly <br/> </p><p> Brian Kelly is long BTC=, U.S. dollar, GLD, CTRL calls, HYG puts, BBRY call spreads and TLT. He is short EWA, EWG, EWQ, EWZ, EWW, Australian dollar, British pound, Canadian dollar, copper, yen and yuan. </p><p> Dan Nathan <br/> </p><p> Dan Nathan is long BBRY June call spread, DIS Feb 92.50/87.50 put spread, KO March put spread, M March call spread, MSFT March call spread, MU March 31/26 put spread, QQQ Feb 101/ 95 put spread, XLF March put spread, XLU March 48/44 put spread, XRT March 90/85 put spread and YUM Feb 72.50/68 put spread. Today, he added M March call spread. </p><br/> More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central || Global Bitcoin Marketplace With 26,000 Users CryptoThrift Introduces 'One-Click Re-list' And Bitcoin Affiliate Program: CryptoThrift, the leading online Bitcoin marketplace with over 26,000 users, where anyone worldwide can buy and sell anything for Bitcoin and Litecoin, is pleased to announce a one-click re-list feature, and a new lucrative Bitcoin affiliate program. NEWPORT, AUSTRALIA / ACCESSWIRE / March 5, 2015 / CryptoThrift has since launch in 2013 reached and maintained its position as the leading Bitcoin marketplace and auction site where people can buy and sell anything for Bitcoin and Litecoin worldwide. CryptoThrift has over 26,000 users worldwide, 33 000 unique visitors and over 500 000 page views per month. Retailers can enjoy free listings and a low fee of 2.5% on sold items only. CryptoThrift has developed a rewarding affiliate program and is always working to improve their Bitcoin market platform; the team is pleased to have introduced new features such as 'one-click re-list' and 'bulk actions' in order to assist frequent sellers. The CryptoThrift team have developed and released their own Bitcoin affiliate program in order to reward those supporting the marketplace. Affiliates can earn up to one Bitcoin just for referring new users, as well as 1% of any sales or purchases made by the new users within their first 90 days. For more information please visit CryptoThrift.com/affiliate-program-now-open/ . The Bitcoin marketplace has increased their security significantly after an unfortunate hack in October 2014. All costs associated with the hacking of the site were paid solely with CryptoThrift's own funds, demonstrating their commitment to their customers, and a more secure escrow service was bought back online. Regardless of the fact that CryptoThrift has not received any external funding they still prioritize excellent customer service and are continually working hard to ensure CryptoThrift remains the best place to buy and sell retail goods and services for Bitcoin. CryptoThrift offers an in-house escrow service and customer support, averaging 96% satisfaction rate with 90% of cases answered within 24 hours . CryptoThrift arbitrates all escrow disputes in-house with no information trusted to a third party in order to sustain a close and trusting relationship with their users. Story continues CryptoThrift supports an active community and welcomes feedback and suggestions from their users and other businesses so that they can continue to build and improve their services. CryptoThrift is reaching out to potential partners such as businesses and individuals within the crypto community to contact them. With the launch of new helpful features such as 'one-click re-list', 'bulk actions' and a new affiliate program in the Bitcoin space: where anyone worldwide can buy and sell anything for Bitcoin. For more information about us, please visit https://cryptothrift.com/ Contact Info: Name: Ahmad Aoun Email: [email protected] Organization: CryptoThrift SOURCE: CryptoThrift || 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. || Free Bitcoin Debit Card Offered by AltoCenter Bitcoin and Litecoin Exchange: Bitcoin and Cryptocurrency Trading Platform AltoCenter is Pleased to Announce Free Bitcoin Debit Cards for Users; AltoCenter Provides Simple Solutions for New Traders, and Plenty of Advanced Tools for More Experienced Bitcoin and Litecoin Traders
PANAMA CITY, PA / ACCESSWIRE / February 11, 2015 /Transparent Bitcoin and cryptocurrency exchange platformAltoCenter combines simplicity and user friendliness with cutting-edge technology to enable businesses and enthusiasts to trade Bitcoin, Litecoin and an array of other digital currencies with ease. Convenient features such as automatic cryptocurrency deposits and withdrawals, 'Perfect Money' payment system, wire transfers and SEPA payments in Europe ensures there is plenty of features for novice traders and crypto enthusiasts alike. For a limited time period AltoCenter offer a free debit card for new customers that open and fund their account on the website. AltoCenter operates under KYC policies and does not process third party deposits or withdrawals.
"We try to look at the bitcoin industry from a trader's point of view and believe that cryptocurrency trading process should be simple and straightforward. Here at AltoCenter we are doing our bit to provide such trading environment," says Michael Vernik, AltoCenter Business Development Manager.
AltoCenter enables easy to use web interface in English, Russian and Chinese and users do not need to be tech savvy or have previous expertise in trading. To get started the user simply creates an account, uses one of the deposit options to add funds, chooses the currency pair to trade and places either a buy or a sell order. AltoCenter do not charge anything for depositing cryptocurrencies including Bitcoin; other depositing methods such as Perfect Money may require low fees which are clearly listed and easy to find. Deposits using Perfect Money are instant while digital money may take up to an hour to show in balance. Other deposit methods such as bank transfers may take 2-5 working days.
For a limited timeAltoCenter offers free ATM debit cards which can be connected to the AltoCenter account provided the user passes certain conditions and country restrictions. The ATM debit card is accepted in all Maestro certified ATMs and merchants worldwide. Each card can load a maximum of USD 10,000 per day with a withdrawal limit of USD 2500 per day. AltoCenter also allows card holders to check their card balance online for free. Long time AltoCenter users can also get a card issued and shipped for free with certain deposits to the trading account or at a flat rate if the user does not make a deposit.
As more and more people are adopting Bitcoin after the recent years of media attention there is a void in exchange platforms for the mainstream audience. AltoCenter aims to aid mainstream adoption by providing an exchange that is easy to use for ordinary people but still offers plenty of options for experienced traders. With withdrawal and deposit options ranging from bank transfers to one of the world leading financial service providers 'Perfect Money', and even the possibility to have debit card connected to the account: AltoCenter might very well be on their way to filling that void.
For more information about us, please visithttps://altocenter.com.
Contact Info:
Name: Michael VernikEmail:[email protected]: AltoCenterAddress: Ricardo J. Alfaro Ave., The Century Tower Bldg., 4th Floor, Panama City, Rep. of Panama
SOURCE:AltoCenter || 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.
See more from Benzinga
• Lawmakers Push For Federal Law To Align With States' Marijuana Legalization
• Uber Makes The Best Of A Ban In Spain
• When It Comes To Oil, Markets Are Asking, 'Are We There Yet?'
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $4,117.37 (2.98 %). BUY B618.08 @ $225.45 (#BTCe). SELL @ $230.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin = $3442.3 MXN | $234.1 USD #BitAPeso Precio: http://www.bitapeso.com - Thursday 29th of January 2015 01:00 PM || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $54.30 #bitcoin #btc || @_jonescat, @DrEggDigital has just sent you a bitcoin tip for 3,484 bits ($1.00)! Pick it up here ➔ http://changetip.com/c/AoQD?m=12 || BTCTurk 603.7 TL Koinim 664.99 TL CampBx 275.00 $ BTCe 251.95 $ BitStamp 258.83 $ SCounter #Bitcoin #btc http://bitcoindunyasi.com || Bitstamp Prices
LAST: $238.86
BID: $238.86
ASK: $239.00
VOL: 8843.47 BTC
http://bit.ly/Cryptoticks || $290.87 at 06:30 UTC [24h Range: $288.00 - $294.26 Volume: 6226 BTC] || buysellbitco.in #bitcoin price in INR, Buy : 14194.00 INR Sell : 13738.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $552.24 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000007
Bittrex: 0.00000007
Average $2.0E-5 per #reddcoin
21:00:02
|
Trend: down || Prices: 266.74, 245.60, 246.20, 248.53, 247.03, 252.80, 242.71, 247.53, 244.22, 247.27
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-06-02]
BTC Price: 537.97, BTC RSI: 81.02
Gold Price: 1209.80, Gold RSI: 32.10
Oil Price: 49.17, Oil RSI: 67.61
[Random Sample of News (last 60 days)]
Bitcoin has a governance problem, no matter who created it: (Repeats Friday item)
* Bitcoin founder claims provoke fresh bitcoin bickering
* System needs to evolve to handle rise in transactions
* But lead developers squabble, freeze out one of their peers
* System needs "adults" to make decisions - U.S. professor
By Jemima Kelly
LONDON, May 6 (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this.
The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up.
Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologised for damaging the reputations of bitcoin experts who had believed him.
Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter".
"Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator."
While grey-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralised system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it.
Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say.
Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes.
The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250.. This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail.
CIVIL WAR
In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle.
One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact.
Andresen later shared that control with others. But when he stated publicly he believed Wright, sceptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules.
Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence".
Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgement right now after all the drama," he said on Twitter.
The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war".
Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralised form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people".
Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it.
"For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem."
BENEVOLENT DICTATORS
But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance.
"Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said.
Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change.
One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power.
"Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade."
Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power.
"(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center.
(Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) || 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 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) || Coin Citadel to Acquire over $700,000 in Bitcoins: LOS ANGELES, CA / ACCESSWIRE / May 16, 2016 / Coin Citadel ( CCTL ), a holding company, is closing in on acquiring over $750,000 in Bitcoins. We are diligently working on finalizing a transaction for 1,675 Bitcoins which will bring our Bitcoin assets up to 2,251 Bitcoins and closer to a value of one million dollars USD. This will be a Non-dilutive preferred stock transaction. We are extremely excited to be in the Bitcoin Industry. We feel we are in the right place at the right time. We plan to announce more details of this transaction, as well as two additional asset acquisitions, later this week. New CEO James Pulver stated, "As I said in our last press release, my job is to add value to the company, and to take advantage of opportunities like this. The more prudent acquisitions we make, and assets we have, the more valuable our company will be. With this Bitcoin asset, we will have over $1 million dollars in Bitcoins to complement our new upcoming acquisitions. With everything falling into place we feel we are moving forward in the right direction." We would also like to update shareholders, as well as working on getting the company back to a current status on OTCmarkets.com. We want to open other lines of communication with shareholders, through social media such as Twitter, and Facebook. Please be on the lookout for news, filings, and other updates coming shortly. Forward-Looking Statement: Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation. Story continues Contact: James Pulver, CEO SOURCE: Coin Citadel || Former regulator turns Bitcoin tech advocate: By Mike Kentz NEW YORK, April 13 (IFR) - Former New York state financial services chief Benjamin Lawsky may have taken a harsh view of virtual currency as a regulator, but he has begun to stump for the technology behind it. The man accused of implementing tough regulations on Bitcoins and other online currency now heads a consultancy that is acting as an adviser and media liaison for one of the sector's major new players. The Lawsky Group, which provides legal and strategic counsel for clients on financial regulation issues, was the press contact last week for Axoni, a blockchain technology firm. Axoni was promoting its successful test of blockchain technology into the back office settlement process for derivatives transactions. "We'll be doing a broad range of financial consultancy ... and some financial technology public relations," said Lawsky Group spokesman Matthew Anderson. Anderson was spokesman for the Department of Financial Services, the state regulator where Lawsky was accused of slowing the development of virtual currencies. Lawsky said last June he wanted to "put in place guard rails that protect consumers and root out illicit activity without stifling beneficial innovation". Though some Bitcoin proponents welcomed the safeguards, Lawsky's about-face now that he is profiting from the technology in the private sector has miffed more than a few observers. "I think the most interesting thing about Mr Lawsky's newest venture is that it highlights the cozy relationship between regulators and the regulated industry," Pamela Morgan, CEO of Third Key Solutions, told IFR. Morgan, whose company consults for other companies that use digital currencies such as Bitcoin, called Lawsky's new role "crony capitalism at its finest". Lawsky's spokesman did not respond to two requests for further detail about his work, though others saw no problem with it. "I think it is fantastic that he has entered the private sector and continued to support the Bitcoin/blockchain space," said Adam Draper, CEO of Boost VC, a venture capital firm focused on blockchain and other virtual technologies. Some suggest the addition of public relations brings out a strength that helped raise Lawsky's profile in the first place - his ability to interact with the media. (Reporting by Mike Kentz; Editing by Jack Doran and Marc Carnegie) || 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) || 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.
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• 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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• Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech
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• Domestic smartphone brands continue to outshine Apple in China || 'I'm sorry': Craig Wright on lack of evidence he created bitcoin: By Jemima Kelly LONDON (Reuters) - Australian tech entrepreneur Craig Wright, who earlier this week said he would provide "extraordinary proof" that he was the creator of digital currency bitcoin, will not provide any further evidence, according to a post on his blog on Thursday. Although Wright did not renege on his claim to be Satoshi Nakamoto - the name, assumed to be pseudonymous, of the person or group who created the web-based currency in 2008 - the U-turn was taken by many bitcoin experts as confirmation of their suspicions that the claims were false. "I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me," Wright wrote. "But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." Bitcoin is a web-based "cryptocurrency" that enables users to move money across the world quickly and anonymously without the need for third-party verification. Various attempts have been made to identify its elusive creator, but Wright's claims stood out due to the high-profile endorsements they received. Lead bitcoin developer Gavin Andresen and bitcoin consultant Jon Matonis both wrote blogs on Monday endorsing Wright's claims, saying they had been shown proof by Wright that he was Nakamoto. Wright said on Thursday that Andresen and Matonis had not been deceived, but "that the world will never believe that now". "I think he's significantly less likely to be Satoshi than any other person that's been suggested," another lead bitcoin developer, Peter Todd, told Reuters, referring to others who have been suspected of being bitcoin's creator. "PLAIN FISHY" After coming under pressure to provide more credible evidence that he was bitcoin's creator, Wright had blogged on Monday that he would provide "independently verifiable documents and evidence" that would back up his claims. The post could no longer be found on his blog site. "The possibility that Wright is Satoshi will always exist, but given the amount of evidence calling that into doubt, I think one would be foolish to give that possibility much weight," said Jerry Brito, executive director of Washington, D.C.-based digital currency advocacy group Coin Center. "He's provided no cryptographic evidence verifiable by the public, and many of his answers sound plain fishy... Today's statement on his blog only further tarnishes his credibility." Wright's representatives declined to give any comments on his decision to back away from providing further evidence, but said he was still their client. They believed he was still in London, where he has been living for the past few months. Interviews with some who had done business with Wright in Australia in December, when reports by Wired and Gizmodo that he could be Nakamoto first emerged, and an inspection of documents published by the two tech news websites, painted a complex picture of Wright. They pointed to a smart but sometimes abrasive figure facing growing legal and financial problems at least in part caused by his involvement with bitcoin. Each bitcoin is currently worth around $447 , 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) || It doesn't really matter to bitcoin who created bitcoin: Have you heard? We may at last know the identity of Satoshi Nakamoto, the mysterious creator of the digital currency bitcoin and its underying blockchain technology. Satoshi is the 46-year-old Australian cybersecurity expert Dr. Craig Steven Wright... according to Dr. Craig Steven Wright. Of course, we've heard this story before. In 2011, the New Yorker suggested Satoshi was Michael Clear, a graduate student at Trinity College Dublin . Fast Company, the same year, listed three other Satoshi possibilities : Charles Bry, Neal King, or Vladimir Oksman, three inventors . In 2014, Newsweek announced it had unmasked Satoshi and splashed the big scoop on the cover of its print issue, reporting that it was a California man named Dorian Nakamoto. He denied it, and the story fell apart . A book by New York Times reporter Nathaniel Popper, "Digital Gold," suggested Satoshi was an American man named Nick Szabo . Szabo denied. Last year, both Wired and Gizmodo reported that Satoshi was two people: Wright and his friend Dave Kleiman, now deceased. The difference now is that the supposed Satoshi is outing himself, rather than denying it: In a blog post on Monday, Wright claims that he created bitcoin in 2009 with help from someone named Hal Finney. " I cannot summon the words to express the depth of my gratitude to those that have supported the bitcoin project from its inception," he writes. "Be assured, just as you have worked, I have not been idle during these many years. Since those early days, after distancing myself from the public persona that was Satoshi, I have poured every measure of myself into research." Wright also provided records to select media outlets of transactions made with the same digital signature as some of the very first blocks (bundles of bitcoin transactions) ever recorded on the bitcoin blockchainblocks mined by Satoshi, who is believed to own more than $400 million worth of the coin at its current USD market price. Story continues It doesn't matter: Many prominent people in the bitcoin community still don't believe Satoshi is Craig Wright. Security expert Dan Kaminsky, in an extensive post, did serious homework and appeared to cast doubt on Wright's supposed proof . " Yes, this is a scam," he concluded. "Not maybe. Not possibly. Wright is pretending he has Satoshis signature." Meanwhile, on a panel at Consensus, a major bitcoin conference in New York that happened to kick off the same morning, three of four bitcoin startup executives said firmly that they don't believe it is Wright. Is Craig Wright the real Satoshi? @ErikVoorhees : no. @ryaneshea : no. @starkness : no. @brianchoffman : "sure seems like it." #Consensus2016 Daniel Roberts (@readDanwrite) May 2, 2016 But here's why it really doesn't matter: The identity of bitcoin's creator is no longer of much relevance to bitcoin, apart from the appeal of a mystery and the amount of coin he or she still holds. Bitcoin is an open-source project. That means that anyone can suggest edits to the source code, and over the years since its launch in 2009, many have. The project has 366 people currently contributing to it, and they've made nearly 11,000 different modifications to the code. (You can view the bitcoin source code at Github no login or expertise required.) By most estimates, less than 20% of the current bitcoin source code is the code Satoshi wrote, which means the technology has truly become the product of a community, not of one creator. It is godless. Even Wright himself says in his blog post, "Satoshi is dead." (Of course, if Wright is Satoshi, then he is very much alive, but the point is well taken: The concept of Satoshi is dead and irrelevant.) In two separate informal Twitter polls, 65% of readers said they still don't believe Wright is Satoshi , and 70% said that Satoshi's identity doesn't matter anyway . (More than 200 people voted in each poll.) In an interview with Yahoo Finance on Monday, Sean Neville, co-founder of prominent bitcoin payment app Circle, offered his opinion. "It doesn't really matter who did create the system," he said. "But it is fascinating news." At 3:45 EST on Monday morning, shortly after the news broke of Craig Wright's claim, the price of bitcoin dropped steeply, from above $450 down to a low of $437. The price drop is another sign that the bitcoin community doesn't want to see Satoshi unmaskedmany feel he is better as an anonymous symbol. Craig Wright may come forward with more evidence that proves his claim, or he may stay mum, fueling the doubters. But whether it's him, or someone else living or dead, doesn't matter anymore. Reports about Satoshi's identity have merely become candy for the media and bitcoin devotees. The developers working on bitcoin-related innovations have moved on. To understand more about how the bitcoin blockchain works, check out this video. -- 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 Heres 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 has a governance problem, no matter who created it: (Repeats Friday item) * Bitcoin founder claims provoke fresh bitcoin bickering * System needs to evolve to handle rise in transactions * But lead developers squabble, freeze out one of their peers * System needs "adults" to make decisions - U.S. professor By Jemima Kelly LONDON, May 6 (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this. The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up. Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologised for damaging the reputations of bitcoin experts who had believed him. Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter". "Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator." While grey-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralised system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it. Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say. Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250.. This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail. Story continues CIVIL WAR In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle. One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact. Andresen later shared that control with others. But when he stated publicly he believed Wright, sceptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules. Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence". Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgement right now after all the drama," he said on Twitter. The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war". Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralised form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people". Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it. "For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem." BENEVOLENT DICTATORS But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance. "Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said. Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change. One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power. "Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade." Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power. "(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center. (Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) View comments
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $746.68 (9.28 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $451.55 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Update Rate Pagi hari : Kamis, 19 Mei 2016 10.00 WIB #MedanGold #Exchanger #PerfectMoney #Bitcoin #FasaPay #BTCepic.twitter.com/4nrIYbpdU7 || LIVE: Profit = $214.35 (2.66 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $424.30 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #BTA Price: Bittrex 0.00001600 BTC YoBit 0.00001366 BTC Bleutrade 0.00001625 BTC #BTAprice 2016-05-31 21:00 pic.twitter.com/QWbO8mRfaG || Current price: 373.99€ $BTCEUR $btc #bitcoin 2016-04-12 21:00:16 CEST || LIVE: Profit = $368.68 (0.20 %). BUY B444.41 @ $421.00 (#BTCe). SELL @ $423.66 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 9 exchange pair(s), yielding profits ranging between $0.00 and $444.04 #bitcoin #btc || #TrinityCoin #TTY $ 0.000014 (0.97 %) 0.00000003 BTC (-0.00 %) || $454.20 at 06:15 UTC [24h Range: $452.00 - $454.88 Volume: 3101 BTC] || http://cubeminers.com SHA: 87.96 GH Scrypt: 0.00 KH x11: 6.57 MH #DigiCube #bitcoin #altcoinpic.twitter.com/nGjJ9lDxzV
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Trend: up || Prices: 569.19, 572.73, 574.98, 585.54, 576.60, 581.65, 574.63, 577.47, 606.73, 672.78
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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)]
Experts Say This Is One of the Best Ways to Maximize Your Retirement Income: It turns out one of the best retirement tools out there has likely been under your nose the entire time.
Saving for retirement is hard, and most soon-to-be-retirees aren't prepared enough. The average retirement costs upwards of $738,000, according to the 2017 Merrill Lynch Finances in Retirement Survey, and nearly half of baby boomers have nothing saved for retirement, per Insured Retirement Institute estimates.
Image source: Getty Images
Fortunately, even if your savings aren't quite where you want them to be, there's still a near-guaranteed way to maximize your retirement income: Social Security. Researchers at the Stanford Center on Longevity found that Social Security benefits are one of the best ways to stretch your retirement income, not least because they're adjusted for inflation and you'll receive them for the rest of your life.
An added bonus of Social Security benefits is that they're flexible: You're can start receiving them as early as age 62, or you can delay them up until age 70 if you want bigger checks. Claiming benefits once you reach yourfull retirement age(which is 65 to 67 depending on the year you were born) will earn you your full benefit amount. But claim before that and you'll receive more -- but smaller -- checks. Delay claiming until you're past your full retirement age, and you'll receive a boost in benefits each month to make up for the years you weren't receiving Social Security checks.
If you're struggling to save for retirement on your own and you expect to depend on Social Security for much of your income, then it's wise to wait as long as you can to start claiming benefits.
For example, say your full benefit amount is $1,400 per month. Let's also say your full retirement age is 67 years. If you claim benefits early at 62, your checks will be cut by 30% -- leaving you with just $980 per month. However, if you delay benefits and wait until age 70 to file, you'll receive 124% of your monthly benefit -- or $1,736 per month.
A couple hundred dollars per month may not seem like a huge difference, but it adds up over time. That $980 per month translates to around $11,760 per year, while $1,736 amounts to $20,832 per year. Here's what your lifetime benefits would look like if you claim at 62 versus age 70:
[{"Age": "62", "Lifetime Benefits When Claiming at 62": "$11,760", "Lifetime Benefits When Claiming at 70": "$0"}, {"Age": "70", "Lifetime Benefits When Claiming at 62": "$94,080", "Lifetime Benefits When Claiming at 70": "$20,832"}, {"Age": "75", "Lifetime Benefits When Claiming at 62": "$152,880", "Lifetime Benefits When Claiming at 70": "$104,160"}, {"Age": "80", "Lifetime Benefits When Claiming at 62": "$211,680", "Lifetime Benefits When Claiming at 70": "$208,320"}, {"Age": "85", "Lifetime Benefits When Claiming at 62": "$270,480", "Lifetime Benefits When Claiming at 70": "$312,480"}, {"Age": "90", "Lifetime Benefits When Claiming at 62": "$329,280", "Lifetime Benefits When Claiming at 70": "$416,640"}]
Of course, nobody knows exactly how long they'll live, so it's impossible to know whether you'll come out ahead by delaying benefits or if you're better off claiming early. But with life expectancies on the rise -- one in four 65-year-olds can expect to live past age 90, according to the Social Security Administration, and one in 10 make it past 95 -- delaying benefits can add an extra cushion if you outlive your independent savings.
Granted, not everyone can wait until age 70 to start claiming benefits. Maybe you were forced to retire early because of health reasons or job loss, and you need Social Security to get by. But if you have the choice to either claim early or delay, and your savings are lacking, then it's a good idea to wait a few years and make the most of these benefits.
While Social Security benefits can help boost your retirement income and add a cushion to your savings, you shouldn't rely on them completely to make ends meet. The average beneficiaryreceives around $1,413 per month, which amounts to just under $17,000 per year. That's not a lot to live on if you're going to be completely dependent on Social Security to pay your bills.
To further complicate matters, there's a chance that there will becuts in Social Securityin the relatively near future. According to the Social Security Board of Trustees, there's currently more cash flowing out of the system than is coming in -- partly as a result of the massive number of baby boomers retiring each day and partly because life expectancies are continuing to increase, depleting the program's cash reserves. And by 2034, Social Security's trust funds -- which are currently preventing the program from running a deficit -- will be exhausted. While that won't lead to a collapse of the entire system (after all, Social Security will continue to exist as long as employees continue to pay their taxes), but it may result in cuts in benefits of up to 23%.
Of course, it's possible Congress will figure out a solution before 2034 to avoid this problem. However, it's better to be safe than sorry, and banking on the hope that it will all sort itself out by the time you retire is not the wisest decision. That's why it's still important to focus on your own savings outside of Social Security to strengthen your nest egg as much as possible.
To make the most of your benefits, it's important to be strategic about when you claim and not rely too much on Social Security to make ends meet. But when used wisely, Social Security is a huge asset that can maximize your retirement income when your savings are falling short.
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The Motley Fool has adisclosure policy. || Why First Solar, Arconic, and Celgene Slumped Today: Wall Street saw some turbulence on Monday, as major benchmarks initially rose, gave up their gains, and then continued to oscillate up and down throughout the day before finishing lower. Many investors paid most of their attention to massive corporate mergers, including deals involving some of the largest U.S. wireless carriers, as well as giants in the oil refinery world. Nevertheless, not all stocks benefited from good news, and some individual companies got hit with setbacks. First Solar (NASDAQ: FSLR) , Arconic (NYSE: ARNC) , and Celgene (NASDAQ: CELG) were among the worst performers on the day. Here's why they did so poorly. First Solar gets stuck in the shade Shares of First Solar fell 9% as the solar specialist gave up the gains it had enjoyed late last week after reporting its first-quarter financial results. Despite the company's revenue plunging 36% from year-ago levels, net income soared, producing earnings that were fully eight times higher than they were in the first quarter of 2017. Some analysts following the stock also looked kindly on First Solar, with UBS today boosting its price target by $13 to $94 per share and repeating its buy rating on the company. Yet some investors still seem to be nervous about the company's ability to keep expanding at a breakneck pace. Right now, there doesn't seem to be much fundamentally to justify those fears in the long run, making today's drop seem out of place. Four long rows of solar panels in a semi-arid landscape with power transmission lines in the background. Image source: First Solar. Arconic's guidance disappoints Arconic stock plunged nearly 21% after the specialist in the production of aluminum and other lightweight metals issued its first-quarter financial report. Sales for the company were up 8%, but a faster rise in costs of goods sold ate away at margin, and that helped contribute to a drop of more than half in Arconic's net income. Even though that decline was largely due to a one-time adjustment last year following Arconic's spinoff, the aluminum specialist also cut its guidance for full-year earnings by nearly 20%. Unless aluminum prices recover quickly and the uncertain tariff situation resolves itself soon, Arconic could be vulnerable to further losses. Story continues Analysts aren't impressed with Celgene Finally, shares of Celgene lost 4.5%. The biotech giant got negative comments from analysts at Morgan Stanley, who predicted that it could take several years for Celgene to move forward with plans to file for approval from the U.S. Food and Drug Administration for its multiple sclerosis candidate drug ozanimod. Celgene already tried to file for FDA approval , but the regulatory agency took the unusual step of issuing a refusal to file letter that said the biotech company hadn't provided enough information for a full review. Investors had hoped that any delay in submitting a revised application would be short, so Morgan Stanley's suggestion that it could take a lot longer for Celgene to recover from its mistake wasn't well-received by shareholders. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Celgene. The Motley Fool recommends First Solar. The Motley Fool has a disclosure policy . || Italy ETF Looks to Increase 11.52% YTD Gain: This article was originally published onETFTrends.com.
With a year-to-date gain of 11.52%, the iShares MSCI Italy Capped ETF (EWI) is one of this year's best-performing developed markets single-country exchange traded funds. Some sector-level fundamental factors suggest the largest US-listed Italy exchange traded fund can continue delivering upside.
Italy is still struggling with issues within its banking sector, an important consideration with EWI because financial services is the largest sector allocation in the largest Italy exchange traded fund. The Italian government has been under pressure to calm concerns over its ailing banking system. Financial services is by far the largest sector weight in EWI.
“Intesa Sanpaolo's planned securitisation of a large portfolio of bad loans supports Fitch Ratings' view that Italy's banking sector clean-up will gather pace in 2018,” said the ratings agencyin a note out Monday.
Related:Europe ETFs Continue to Pick Up Momentum
An Important Catalyst for Italy ETF
Healthy banks are undoubtedly an important catalyst for EWI. The ETF allocates 35.77% to the financial services sector, more than double its second-largest sector weight. The aforementioned Intesa Sanpaolo is the fund's largest individual holding at a weight of almost 12%.
“Intesa is one of several Italian banks that have recently announced plans to accelerate the reduction of their bad loans, in response to regulatory pressure and the Italian economic recovery. We expect banks will seek to reduce non-performing loan (NPL) stocks substantially through further NPL sales, helped by a slowdown in the generation of new NPLs, while economic tailwinds prevail. We forecast GDP growth in Italy to continue at 1.5% in 2018 but to slow slightly to 1.2% in 2019,” according to Fitch.
Related:Political Relief Rally Helps Put Italy ETF Investors at Ease
Market observers project earnings per share growth for European stocks to remain strong and build upon the success over the first two quarters of the year. In the first half of the year, earnings upgrades were broad and far reaching instead of concentrated to specific areas. Additionally, Italian stocks are attractively valued relative to other developed markets. EWI's price-to-earnings is just over 13, implying significant discounts to U.S. stocks.
“Banks may prefer to work out NPLs internally rather than selling their NPLs, given the higher recoveries that are typically achieved. Recovery rates for sofferenze averaged about 46% for work-outs, according to 2006-2016 data from the Bank of Italy, but only 23% for NPLs that were sold,” said Fitch.
For more information on Italy, visit ourItaly category.
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READ MORE AT ETFTRENDS.COM > || Bitcoin Nearly as Bad as ‘Trading Harvested Baby Brains’, Says Berkshire VC Munger: Berkshire Hathaway’s bitcoin bashing barrage doesn’t show any signs of letting up.
Just one day after Berkshire Hathaway chairman and CEO Warren Buffett trashed bitcoin at the legendary firm’s annual shareholders meeting in Omaha, Nebraska, vice chairman Charlie Munger unleashed a memorable rant of his own.
Munger’s comments on cryptocurrency started out amicably enough, but they quickly escalated into a series of potshots — which is not altogether surprising given hishistoryon the subject.
“The computer science behind bitcoin is a great triumph of the human mind,” Munger toldYahoo Finance. “They created a product that’s hard to create more of but not impossible. [But] I see an artificial speculative medium,” he said. It’s “anti-social, stupid and immoral.”
The 94-year-old Munger then proceeded to compare cryptocurrency trading to dealing in “freshly harvested baby brains,” arguing that both would be immoral even if profitable.
“Suppose you could make a lot of money trading freshly harvested baby brains. Would you do it?” he asked. “To me bitcoin is almost as bad.”
Munger then took aim at bitcoin proponents, alleging that it is disgraceful to promote cryptoassets and chastising them that it is “beneath you.”
“I regard the whole thing as a combination of dementia and immorality. I think the people pushing it are a disgrace,” he concluded. “There ought to be some things that are beneath you, that you just don’t do, and this is one.”
The Berkshire vice chairman’s comments were perhaps even more inflammatory from those issued by his boss and longtime friend just a day prior.
As CCNreported, Buffett — a consistent bitcoin bear — told shareholders that the cryptocurrency is “rat poison squared” and that the asset class will “come to bad endings.”
Munger, reports say, chimed in to remark that he likes cryptocurrency “even less than Warren does.”
Featured Image from Shutterstock.
The postBitcoin Nearly as Bad as ‘Trading Harvested Baby Brains’, Says Berkshire VC Mungerappeared first onCCN. || Big Bitcoin Heist Suspect Arrested in Amsterdam, Claims Unlawful Imprisonment: bitcoin Sindri Thor Stefansson, the alleged mastermind behind the Big Bitcoin Heist who fled a low-security Icelandic prison and hopped on a flight to Sweden last week, has been found. But according to Stefansson, he never should have been detained in the first place and was being held based on police suspicion. He was reportedly arrested in Amsterdam amid an international arrest warrant with plans under way for his extradition to Iceland. Stefansson was imprisoned for his alleged role in Icelands worst ever heist involving $2 million worth of bitcoin mining equipment. He believes that his rights were violated because he didnt have a trial and the arrest warrant had expired when he escaped the Sogni prison. According to his version of the story, which Stefansson told to Icelandic publication Frettabladid.is , he was held without evidence and was free to travel after the judges ruling expired on April 16. He reportedly said I would never try to flee prison if I was legally deprived of my freedom from [the] judges decision, thats a fact. He further stated that he was dumped, punished and threatened with longer isolation, all without proof. I simply refuse to be in prison of my own will, especially when the police threatens to arrest me without explanation. Below is a screenshot of Stefansson fleeing Iceland, as published in Frettabladid.is. His plane ticket wasnt in his own name but no border check was required. Anger and Remorse Stefansson is arguing a lapse between the date of the order to hold him and the judge taking 24 hours to determine whether or not to hold the suspect. Stefansson, while he was awaiting the judges ruling, is said to have gone out to a restaurant and then booked the infamous flight to Sweden. Hours later, the judge reportedly ruled on the continuation of detention, the report says. Story continues Stefansson says he feels shame for having escaped, but he was angry for being held in a prison for more than two months allegedly without any evidence of having orchestrated the heist. Since his escape, Stefansson says his family has been harassed by the media. Prior to his arrest in Amsterdam, Stefanssons manifesto to Frettabladid.is said he wanted to come home to confront the situation. Stefansson is accused of spearheading a group that allegedly stole cryptocurrency mining equipment over a period in December and January, which still hasnt been recovered. The investigation may have shifted to Spain, where Stefansson reportedly purchased an apartment. Featured image from Shutterstock. The post Big Bitcoin Heist Suspect Arrested in Amsterdam, Claims Unlawful Imprisonment appeared first on CCN . || Bill Gates Would Love To Short Bitcoin, So Why Doesn’t He?: Billionaire Bill Gates is a notorious bitcoin skeptic who says he would bet against it if he could because he believes cryptocurrencies are worthless investments that people profit from by pawning their holdings off to a “greater fool” than themselves.
“I would short it if there was an easy way to do it,” Gates toldCNBCMay 7 during a joint interview with his billionaire pals Warren Buffett and Charlie Munger. “As an asset class, you’re not producing anything, so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment.”
The three moguls convened over the weekend because they are members of the Berkshire Hathaway board of directors, which held its annual shareholder meeting on May 5. At the meeting, Berkshire CEO Buffett slammed bitcoin once again, this time calling it “rat poison squared,” as CCN has reported.
Like other cryptocurrency bears, Bill Gates conceded that blockchain, the technology behind bitcoin, can be very useful but said virtual currencies are nothing more than crazy, speculative investments.
“Bitcoin and ICOs, I believe completely that [they’re some] of the crazier, speculative things [you could invest in],” he said.
Gates — whose net worth tops $91 billion thanks to the de facto monopoly Microsoft has enjoyed for decades — said someone once gave him bitcoin for his birthday, but he sold it.
Of course, if Gates really wanted to short bitcoin, he has a variety of options. Even if he doesn’t feel comfortable trading on a cryptocurrency exchange such as BitMEX, he could easily open a short position in bitcoin futures on CBOE, CME, or perhaps evenGoldman Sachs‘ new bitcoin derivatives product.
That he doesn’t — even while protesting that he wishes he could — is telling.
During the same interview, billionaire Charlie Munger — the vice chairman of Berkshire Hathaway — called bitcoin “worthless” and useless.
“Bitcoin is worthless, artificial gold,” Munger said. “That is not something I think the world needs. The fact that it’s clever computer science doesn’t mean it should be widely used, and that respectable people should encourage other people to speculate on it. Bitcoin reminds me of Oscar Wilde’s definition of fox hunting: ‘The pursuit of the uneatable by the unspeakable.'”
Munger, 94, has said bitcoin trading is akin to clueless people with dementia trading feces to keep up with everyone else. “[It’s] like somebody else is trading turds and you’re being left out,” he said.
Bill Gates’ skepticism toward crypto is no surprise given his cynical outlook on the entire market.
As CCN previously reported, Gatesblames bitcoinfor drug deaths, claiming cryptocurrencies are go-to vehicles for illegal drug sales and money-laundering.
“Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way,” Gates said in March 2018. “I think the speculative wave around ICOs and crypto currencies is super-risky for those who go long.”
Despite the bearishness of these “old guard” billionaire moguls, the new crop of tech billionaires has no doubt that bitcoin is the unstoppable wave of the future.
“I’m convinced 100 percent that crypto is the future,” Binance founder Changpeng Zhao toldBloomberg. “I just know it will happen.”
Similarly, theWinklevoss twinsTyler and Cameron (estimated net worth: $900 million to $1.1 billion) say bitcoin skeptics who flippantly dismiss crypto suffer from an epic “failure of imagination.”
The postBill Gates Would Love To Short Bitcoin, So Why Doesn’t He?appeared first onCCN. || Barron's Picks And Pans: Arista, Kroger, SeaWorld, Valeant And More: This weekend's Barron's cover story looks at why the buyback boom is bullish for investors. Other featured articles offer a dozen elite dividend picks and ask whether a robot can build the perfect portfolio. Also, the prospects for a supermarket operator, a networking specialist and a theme park operator. " Why the Buyback Boom Is Bullish for Investors " by Andrew Bary suggests that big corporations such as Apple Inc. (NASDAQ: AAPL ) and JPMorgan Chase & Co. (NYSE: JPM ) have gone on a spending spree, repurchasing their shares in record amounts. Will others, such as Alphabet Inc (NASDAQ: GOOGL ), follow suit? Jack Hough's " Kroger: A Supermarket Stock on Sale " points out that as some rivals fall, big grocer Kroger Co (NYSE: KR ) should gain market share and improve its operating results. In other words, Barron's says it doesn't have to outrun the bear (i.e., Amazon and Walmart), it just has to run faster than the other hikers (its peers). In " 12 Elite Dividend Stocks ," Lawrence C. Strauss reveals 12 standouts that Barron's culled from the famed Dividend Aristocrats. AT&T Inc. (NYSE: T ), Exxon Mobil Corporation (NYSE: XOM ) and the rest all have nice yields with a record of increases for at least 25 years, but investors should beware, says the article: There's a catch. This networking specialist run by former Cisco managers is about to take on its former employer in the corporate market, according to "Arista Takes Aim at Cisco" by Tiernan Ray. Can Arista Networks Inc (NYSE: ANET ) succeed? See why Barron's thinks its success or failure could determine whether its pricey shares can continue to rise. See Also: A 'Layer Of Protection' From Amazon Is A Dividing Line In Retail In Brett Arends's "SeaWorld Makes a Splash," see why even though shares of SeaWorld Entertainment Inc (NYSE: SEAS ) have rallied more than 25 percent this year, Barron's doesn't feel that now is the time to jump aboard. Check out the article to see what progress the theme park operator had made and what headwinds it still faces. Story continues "Will Google's Robot Pick Good Stocks?" by Vito J. Racanelli suggests that until robots like Google Assistant can build a perfect portfolio, investors should stick with mundane market indicators. Also, what to expect from the markets this summer and fall, and the prospects for Valeant Pharmaceuticals Intl Inc (NYSE: VRX ) after its name change. Also in this week's Barron's: How rising oil prices will affect the U.S. economy A "boot camp" for aspiring hedge fund stars Why to short tech and buy India Companies with ties to Michael Cohen A delayed death cross A new wave of China tech giant IPOs California and the outlook for the solar industry See more from Benzinga Benzinga's Bulls & Bears Of The Week: Apple, Bitcoin, Macy's, Verizon And More Insider Buys Of The Week: ADS, Tesla, Teva And More Benzinga's Bulls & Bears Of The Week: Apple, Alibaba, Spotify, 3M And More © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || AUD/USD and NZD/USD Fundamental Daily Forecast – No Surprise: RBA Leaves Benchmark Rate Unchanged: Export-oriented currencies like the Australian and New Zealand Dollars finished lower against the U.S. Dollar on Monday as China imposed extra tariffs on U.S. products, igniting fears of a trade war.
TheAUD/USDsettled at .7660, down 0.0016 or -0.21% and theNZD/USDfinished the session at .7214, down 0.0017 or -0.23%.
According to China’s finance ministry, China imposed extra tariffs of up to 25 percent on 128 U.S. products including frozen pork, as well as on wine and certain fruits and nuts, in response to U.S. duties on imports of aluminum and steel.
The tariffs, which took effect on Monday, matched a list of potential tariffs on up to $3 billion in U.S. goods published by China on March 23.
The Aussie and Kiwi were affected by the news because Australian and New Zealand are major trading partners with China and a trade war with the U.S. could lead to disruptions in their export traffic.
In other news, U.S. factory activity slowed in March amid a decline in new orders, but growth in the manufacturing sector remained underpinned by strong domestic and global economies.
On Monday, the Institute for Supply Management (ISM) said its index of national factory activity fell to a reading of 59.3 last month from 60.8 in February. Economists were looking for a reading of 60.1.
Construction Spending edged up 0.1 percent in February after coming in unchanged in January. Economists had forecast construction spending accelerating 0.5 percent in February. Construction spending increased 3.0 percent on a year-on-year basis.
U.S. financial markets showed little response to the data.
Risk aversion is helping to support the Australian and New Zealand Dollars early Tuesday as conditions have settled down in the U.S. stock markets after yesterday’s steep decline.
At 0540 GMT, the AUD/USD is trading .7682, up 0.0022 +0.28%. The NZD/USD is at .7231, up 0.0017 or 0.24%.
In other news, the Reserve Bank of Australia left the cash rate unchanged at 1.5 percent, with the central bank board continuing to worry about weak wages growth.
The RBA board’s decision, announced following its April broad meeting on Tuesday, means Australia’s official interest rate has been at a record low for 20 months.
In a statement accompanying the decision RBA governor Philip Lowe said the bank expected an improvement in the national economic growth rate during 2018, with employment and business conditions positive.
However, high household debt and weak consumption spending as a result of sluggish wages growth have kept the bank from moving on rates.
The RBA decision was widely expected so it probably had little impact on the Australian Dollar. Furthermore, the RBA essentially said it is in no hurry to raise rates so there is nothing bullish in its statement.
Traders are likely to continue to react to any news regarding trade issues between China and the U.S., and investor appetite for risk. Negative trade war news and another steep sell-off in equities should be bearish for the Aussie and Kiwi.
Thisarticlewas originally posted on FX Empire
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• “Don’t be Spooked by Stock Market Turbulence” || Apple reportedly plans to offer new credit card with Goldman Sachs: A card would be branded with Apple Pay, the technology giant's mobile payments platform. Goldman, which has recently made a push into consumer lending and deposit-taking, would replace Barclays as a card partner with Apple, The Wall Street Journal reported. Apple and Goldman Sachs are planning a new credit card to be introduced as early as next year, The Wall Street Journal reported, citing people with knowledge of the process. The move comes as investment bank Goldman GS continues to make a push into consumer banking activities such as deposit-taking and personal loans. It will displace London-based Barclays as Apple AAPL 's financial partner for credit cards, the Journal said . The card will be branded with Apple Pay, the technology giant's mobile payment and digital wallet platform. The move could address priorities for both companies. Apple is looking to boost revenue from things other than gadgets, and the payments space is in the midst of intense competition from banks and tech startups. Goldman is looking to diversify its revenue away from institutional areas like trading and investment banking with its push into areas of finance that touch ordinary consumers. The partnership could also include Goldman offering in-store loans to Apple customers for the tech company's products, the Journal said. Spokespeople for Apple and Goldman Sachs declined to comment to CNBC. More From CNBC Bitcoin could soar as high as $64,000 next year, Fundstrat predicts The robots are coming! ... to the bond market Axa's US IPO comes up $1 billion short || Trump's Russia tweetstorm is just his latest market-disrupting action as the Dow whipsaws: Screen Shot 2018 04 11 at 11.01.22 AM Marketwatch President Donald Trump roiled markets once again Wednesday with tweets that escalated tensions with Russia. Traders shrugged off monthly US consumer price data that was in line with economist estimates. The early losses marked a reversal of two days of gains driven largely by reduced fears around a global trade war. Follow the Dow Jones industrial average and Nasdaq 100 indexes. US stocks tumbled Wednesday as President Donald Trump escalated tensions with Russia through a series of tweets , rattling investor nerves at a time when fears of a global trade war were starting to ebb. Equity futures extended losses just before 7 a.m. ET as Trump tweeted for Russia to "Get ready" because missiles would "be coming, nice and new and 'smart!'" Trump has been weighing whether to strike Syria over a suspected chemical weapons attack of a rebel-held town Saturday that left dozens of people dead and that the US and local aid groups have blamed on the Russian-backed Syrian government. The stock decline worsened on a second Russia-focused tweet from Trump roughly 45 minutes later, and premarket losses reached as much as 1.2%. In early regular trading, the Dow Jones industrial average sank as much as 0.9%, or 212 points, while the S&P 500 lost 0.1%. The more tech-heavy Nasdaq 100 index rose 0.2% after sliding 0.3% earlier. As Trump's latest tweets dominated headlines, US investors shrugged off a Labor Department report showing US consumer prices in March were in line with economist estimates. Traders have been keenly focused on inflation readings in recent months as they search for any signals that the Federal Reserve will alter its pace of monetary tightening. Yet while the degree of Wednesday's stock market decline may seem jarring, it should be noted that the Dow surged almost 500 points over the two days prior, meaning the decline hasn't even erased half of that. Overall, the market's recent propensity for large moves shows the low-volatility doldrums of 2017 are over and suggests multihundred-point Dow fluctuations are the new normal. Story continues Of course, Trump hasn't helped matters much, and the surge in volatility is a clear byproduct of his recent actions. Before Wednesday's escalation with Russia, whose ambassador to Lebanon had earlier suggested Russia would retaliate to any US strike in Syria, the president had been locked in a trade staredown with China for weeks, stoking investor fears of a trade war. The chart below shows just how choppy trading has gotten in US equities in recent weeks amid Trump's geopolitical maneuverings. Screen Shot 2018 04 11 at 10.14.07 AM Business Insider / Joe Ciolli, Marketwatch It's also possible that the selling is being driven by a shift in investment tactics that has been highlighted by Bank of America. After years of riding the "buy the dip" strategy to success, investors seem to have flipped the switch and are now " selling the rip " — or using periods of strength as an excuse to offload holdings. Check out Business Insider's in-depth coverage of the market's recent turbulence: BANK OF AMERICA: A wildly successful stock-trading strategy is no longer working — and it signals that a bubble has burst One Wall Street firm just made a big change to its outlook — and it perfectly encapsulates the challenges ahead for markets The market's most outspoken bear sees recent turbulence fueling his forecast of a 60% stock drop — and says it's too late to get out Bank of America knows what it'll take to send the market into a 'full bull detox' — and we're dangerously close 'This time, things really are different': A $150 billion investment chief explains why he's so nervous about the 'wild card' trade war The best stock trade of 2018 is a reversal from last year as turbulence rocks the market BANK OF AMERICA: A huge shift is happening in markets — and it's threatening to derail a favorite investor strategy Elsewhere in global equity markets, the Shanghai Composite rose 0.6%, while the Stoxx Europe 600 slipped 0.7%. In the bond market, the 10-year US Treasury yield fell 2 basis points, to 2.76%, near the key 3% level that traders are closely watching . Bank of America Merrill Lynch has said a trade war could move yields higher in the medium to long term. Here's a rundown of other asset classes: US Dollar Index , -0.1% Crude oil (WTI) , -2.71% Cboe Volatility Index (VIX) , +0.7% Gold , +0.8% Bitcoin , +1.70% NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown See Also: Bank of America knows what it'll take to send the market into a 'full bull detox' — and we're dangerously close Trump's trade war antics just spoiled a perfectly good jobs report There's a record-setting disconnect in markets right now — and it has stocks spring-loaded for a recovery SEE ALSO: BANK OF AMERICA: A wildly successful stock-trading strategy is no longer working — and it signals that a bubble has burst
[Random Sample of Social Media Buzz (last 60 days)]
30 Mart 2018 Saat 22:00:01, 1 Bitcon Kaç Lira Eder, 26.633,30 TL. #BTCTL #BTCKacTL #bitcoin #bitcoindeğerihttp://www.doviz724.com/1-bitcoin-kac-tl.html … || Almost certainly placed in the blockchain by the US IC to allow for selective (aggressive) prosecution of very bad actors. Having child porn in the blockchain means life in prison for possessing bitcoin. Bitcoin is infected with a Lassa fever or Ebola, and it's even MORE deadly. || .
Bitcoin Chart - 2018/04/25 - 11:00 PM (CET) .
http://www.bitcoin-masters.club .
… https://www.instagram.com/p/BiBkm7IgyIK/ || 2018/04/17 03:00
#BTC 863189.5円
#ETH 54586円
#ETC 1717.2円
#BCH 81676.3円
#XRP 71円
#XEM 35.6円
#LSK 1113.5円
#MONA 381.9円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || Why buy what you can receive for free ? Get free $11,000 Bitcoin every Day in 3 clicks at …http://perfectmoneybtcaddersoftware.blogspot.co.uk/2017/01/perfect-money-bitcoin-adder-software.html#comment-form …
No survey. No investment. No waiting. Try and see. bitcoin news pic.twitter.com/QwjHwJndnc || Typical... || Install CryptoTab and mine Bitcoin! https://getcryptotab.com/461256 || Good to know for the next time, queen || Blockenomics Update: Bitcoin Cash = BIG news and why I think we are on for rebound in pricing Q2. (Important Info here) >> https://ift.tt/2EqIdKI || BTC Price: 7118.90$,
BTC Today High : 7414.67$,
BTC All Time High : 19903.44$
ETH Price: 387.93$ #bitcoin #BTC $BTC #ETH $ETH #cryptopic.twitter.com/zpOEZvo68H
|
Trend: up || Prices: 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Why Tesla Stock Is Up By 5% Today: Teslashares gained upside momentum and moved above the $650 level after the company announced that it had opened a solar-powered charging station in Tibet. The station in Tibet is the first such facility in China, and it includes an on-site power storage.
This moved reminded investors that Tesla has a solar business which may serve as an additional source of growth in the future. At this point, solar business, which Tesla acquired with the purchase of SolarCity back in 2016, gets much less attention than the company’s car business, but the situation may change if Tesla finds a way to grow it at a robust pace.
While the new charging station in Tibet may prove to be an important milestone for the company, it looks that the current upside move is fueled by general market optimism.
Powell’s recent comments were dovish as usual, the yields of 10-year Treasuries have settled below 1.50% whileS&P 500is trading near historic highs. In this environment, Tesla has the opportunity to attract additional investor attention as it trades more than 25% below highs that were reached at the beginning of this year.
Meanwhile, analysts estimates for Tesla have remained stable in recent weeks. Currently, analysts expect that Tesla will report earnings of $4.53 per share in 2021. In 2022, the company’s earnings are projected to grow to $6.22 per share, so Tesla is trading at 105 forward P/E.
This valuation implies huge growth in the upcoming years which often makes a stock very sensitive to various news. In Tesla’s case, the market is already accustomed to sky-high valuation, so the near-term dynamics of its stock will mostly depend on general market sentiment towards tech stocks while traders wait for the second-quarter earnings season.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Silver Price Daily Forecast – Resistance At $26.30 In Sight || Paraguay May Be Next to Court Crypto Businesses With July Bill: Next month, Paraguayan congressman Carlos Rejala plans to present a bill to attract international mining companies and other crypto businesses.
The project allows cryptocurrency companies — whether in mining or another segment, such as exchanges — to finance their Paraguayan operations with cryptocurrencies, remit dividends abroad and capitalize their cryptocurrency profits in local banks, Rejala told CoinDesk.
Rejala, a 36-year-old entrepreneur, discoveredbitcoinin 2017 and began trading in 2019, a year after taking a deputy seat for the independent Hagamos party, he said.
Related:Distributed Ledgers Included in Tech ‘Focus’ Bill Passed by US Senate
On Monday, following the announcement that El Salvador wouldintroduce a billto allow bitcoin to be treated as legal tender, Rejala tweeted a photo of himself with laser eyes and a sentence about the project.
“The announcement prompted me not to be afraid and to think that this can be real in my country,” he said.
The project seeks to position Paraguay as the crypto hub for Latin America and a model for other countries in the region, he said, adding that if the bill is approved, he will seek to present a second one promoting the use of bitcoin as legal tender.
It’s been a longtime goal for local business leaders, who touted Paraguay’s cheap energyas far back as 2018.
Related:World Economic Forum Hopes to Explain DeFi for Regulators With White Paper
“However, first we want to give Paraguay a blockchain-friendly status,” he said.
According to Rejala, one of the most attractive conditions for mining companies is the cost of electricity in Paraguay, which is around $0.05 per kilowatt-hour and is thelowest in the region. Almost 100% of production comes from hydroelectric sources.
“It is renewable energy, non-polluting, which is extremely important for the mining companies,” he said.
In a dialogue with First Mover on CoinDesk TV, Juanjo Benitez Rickmann, CEO of local mining company Bitcoin.com.py, said that mining in Paraguay only requires registration and payment of taxes, which he classified as lower than in the rest of the region. At present, the country has a system known as triple 10, which consists of 10% income tax, 10% VAT, and 10% personal income tax, Rejala added.
The country offers no restrictions on foreign capital flows and the payment of dividends abroad, Rejala added. “That also makes it an attractive country to crypto investors,” he said.
Paraguay does not use all the energy it produces, Rejala said. At the Itati hydroelectric plant, which Paraguay shares with Brazil, the country only takes 26% of the 6,067 megawatts it is entitled to monthly, submitting the rest to the neighboring country, he added.
“We have a lot of energy that we sell to Argentina and Brazil almost for free because we can only sell to our neighbors,” Benitez Rickmann said.
A draft bill, supported by different players in the crypto sector, was presented to several Paraguayan government offices, such as the anti-money laundering office, Benitez Rickmann said.
Rejala is currently seeking to attract support to achieve the required majority of 41 votes in the chamber of deputies and pass the bill to the Senate chamber, he said. If approved in both chambers, it will then have to be enacted by the country’s President, who has the power to issue a veto.
During the Bitcoin 2021 conference held in Miami, Benitez Rickmann said he spoke to a number of mining pool operators from China who asked for 100 megawatts of space.
“Maybe it is an opportunity for us to get involved with them and develop,” he said.
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• State of Crypto: What Regulators Said at Consensus 2021 || Square Invests $5 Million in Blockstream To Build Solar-Powered Bitcoin Mining Facility: Pavlo Gonchar / SOPA Images / Shutterstock.com Financial services and digital payments company Square will invest $5 million in blockchain technology company Blockstream Mining, said to be building an open-source, solar-powered bitcoin mining facility at one of Blockstreams U.S. sites. See: Goldman Sachs Expands Trading Desk to Ethereum as Interest in Crypto Grows Find: Ethereum vs. Bitcoin: Which Crypto Is Better? Together, we plan to provide public transparency by sharing the project economics and knowledge weve gained from building a Bitcoin mine powered by renewable energy. Ultimately, we hope to demonstrate how bitcoin mining in conjunction with renewable energy can help drive the clean energy transition, Blockstream said in a statement. The move comes amid renewed criticism about Bitcoins enormous carbon footprint. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year 0.55% of global electricity production . More: 10 Best Crypto Research Tools You Must Have as an Investor Just yesterday, Elon Musk stated that Tesla would resume Bitcoin transactions when reasonable (~50%) clean energy usage by miners with positive future trend was confirmed. Musk announced that Tesla would start accepting the crypto as a form of payment back in January. In May, however, this was redacted, with Musk stating that Tesla had suspended vehicle purchases using Bitcoin. 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 added Blockstreams facility will be a proof-of-concept for a 100% renewable energy Bitcoin mine at scale, with the economics of the build-out including operational costs and ROI made open to the public, according to the statement. Net Worth: Just How Rich Are Elon Musk, Donald Trump and These Other Big Names? Learn: Mark Cuban Talks Dogecoin: Youve Got To Know Why Youre Investing While we know that many mining operations throughout the world, including ours, already rely on renewable energy (as it is the most cost-effective power available), we hope that the open and transparent nature of this project will become a model that other businesses can learn from. We hope to show that a renewable mining facility in the real world is not only possible but also prove empirically that Bitcoin accelerates the world toward a sustainable future, the company added in the statement. Story continues More From GOBankingRates: Jaw-Dropping Stats About the State of Retirement in America How To Keep Your Financial Planning On Track in 2021 20 Home Renovations That Will Hurt Your Homes Value 27 Things You Should Never Do With Your Money Last updated: June 15, 2021 This article originally appeared on GOBankingRates.com : Square Invests $5 Million in Blockstream To Build Solar-Powered Bitcoin Mining Facility || Bitcoin Leads in $1 Billion 24-Hour Liquidation Pile-Up: Bitcoin (BTC) heads up a huge liquidations pile-upas recorded on Bybt. At the time of press, the trading information platform recorded well over $1 billion liquidated in 24 hours across exchanges.
Over $96 million worth of liquidations happened in the last hour. BTC accounted for more than half the liquidations across the full 24-hour period — specifically $627.67 million worth at the time of press. Furthermore, the largest single liquidation order in that time, occurring on Huobi-EOS, was valued at $6.48 million.
BTC liquidations stormed well ahead of the other market frontrunners, with Ethereum coming in second. A comparatively small $267 million worth was liquidated in 24 hours. Ripple was a bit behind it, accounting for another $44 million liquidated.
Data indicates that nearly 39% of the liquidations conducted over the past 24 hours (totaling nearly $428 million) occurred on the Bybit trading platform. Okex accounted for a further 20.3% and Huobi for another 17.6%.
This mass sell-off follows apoor week for BTC, in which it declined towards its lows of last month near the $30,000 mark. Currently, bitcoin is valued at $32,200,according to CoinGecko. Since its sharp price collapse in May, attributed toa number of factors, BTC has struggled to regain anything close to the heights it reached in April.
The fact that the BTC mining hash rate reached its lowest position for six months,as reportedon June 20, has not helped matters. This follows the Chinese government’s continuing strict crackdown on BTC mining, which has seen a mass shutdown in the country’s operations. China previously hostedapproximately 75%of the world’s BTC mining capacity.
In light of the Chinese crackdown, BTC miners have begun to move their operations overseas — to the United States, in particular. Low electricity prices attracted minersto Texas, a state that also has a pro-crypto government. Earlier in the month, Governor Greg Abbottsigned off on a lawcreating a legal framework for cryptocurrency investments.
Meanwhile, Francis Suarez, Mayor of Miami, Florida, emphasized recently thathe would welcomeminers from China. He noted that Miami is ideal for energy-intensive mining operations, given its cheap, nuclear-sourced energy. || Dutch football team AZ Alkmaar to hold Bitcoin on balance sheet: Professional Dutch football team AZ Alkmaar and Bitcoin Meester have inked an official and exclusive partnership that will see AZ become the first Dutch team to hold Bitcoin on their balance sheet and potentially pay player salaries in BTC. In the announcement , AZ Alkmaar, who finished third in the 2020–21 Eredivisie season, said that they are “confident in the future of Bitcoin” and confirmed that part of the sponsorship amount will be paid in Bitcoin. The sum will then be left on the balance sheet during their partnership. It’s unclear whether player salaries will be paid in Bitcoin, as the announcement only outlined the initial sponsorship amount. However, due to the growing trend of players being paid in Bitcoin spreading across various sports including the NFL and NBA , the deal may indicate that AZ intends to pay players in BTC for the upcoming season. 🪙 𝗔𝗭 | 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗠𝗲𝗲𝘀𝘁𝗲𝗿 🤝 Official Cryptocurrency Partner #AZ @bitcoin_meester #Crypto #Bitcoin pic.twitter.com/kKi4wwds1w — AZ (@AZAlkmaar) July 1, 2021 AZ’s Commercial Director Michael Koster spoke of the deal, saying: “The cryptocurrency market is booming, with an exponential growth of users in recent years. That is appealing, but it is precisely in a new market that some guidance is important. Not everyone is already well-acquainted with cryptocurrencies and Bitcoin Meester is able to guide new users in this world in a responsible manner.” Bitcoin Meester will become the exclusive and official Cryptocurrency Partner of AZ. The exchange is a regulated crypto provider registered with De Nederlandsche Bank and is a leading exchange provider in the Netherlands. Users can buy, sell and store various cryptocurrencies on the platform. Story continues Bitcoin Meester is one of the few regulated crypto companies in the Netherlands. The Dutch central bank has recently focused on the activities of cryptocurrency-based firms, with some government officials known to be against crypto adaptation and calling for greater restrictions on Bitcoin and other assets. Wij zijn trots om aan te kondigen dat we vanaf volgend seizoen officieel crypto partner zijn van @AZAlkmaar ! Centraal in het partnership staat het verder vermarkten van crypto in de voetbalwereld en het wegwijs maken van nieuwe Bitcoin Meester-gebruikers. pic.twitter.com/2yEo7Uu5S1 — Bitcoin Meester (@bitcoin_meester) July 1, 2021 Mitchell Zandwijken, CEO at Bitcoin Meester, said “Sport, and football in particular, is one of the most important strategic markets for us and we are constantly looking for new opportunities to involve our growing ‘fan base’ there. The partnership with AZ is in line with that ambition.” The rise of crypto adaptation in football seems to be growing at a rapid pace, with teams announcing new sponsorships and platforms on a regular basis. Recently, AntChain, a Chinese Blockchain platform, announced a partnership deal with UEFA to become the official global blockchain partner of UEFA Euro 2020. Leading European football teams have also been releasing their own fan tokens on the Socios platform. Other sports are getting in on the action too, including motorsport giants Nascar and Formula One . Leading cryptocurrency exchanges like FTX are also securing sponsorship deals and stadium naming rights with leading MLB and NBA teams. For more news, guides and cryptocurrency analysis, click here . || RenVM Mainnet V.04 Aims to Improve Cross-Chain Liquidity, Here’s How: Ren recently launched its Ren Virtual Machine (RenVM) mainnet v.04. It includes improvements to the Ren network that bring it closer to realizing its dream of a self-sustaining DeFi platform. “Successfully launching RenVM’s mainnet is a critical step in our long-term mission of creating a decentralized platform for DeFi that is self-sustaining and advances the industry as a whole,” said CEO and co-founder of Ren Taiyang Zhang in 2020. At the beginning of May 2021, REnVM launched its latest improvements. These included enabling Greycore activations, new fee improvements as well as announcing support for new blockchains. RenVM helps move crypto RenVM is a permissionless, decentralized, virtual machine protocol. This network powers its foundational decentralized interoperability solution. The Ren protocol aims to provide liquidity to different blockchain platforms. This allows users to participate in financial processes or programs that are not available on their current platform. If the user wants to move ethereum to the bitcoin blockchain, with the two blockchains usually being incompatible, they can use RENVM, which acts as the bridge between the two networks. This is also known as cross-chain liquidity. REN has been refining the network, leading to some encouraging results. It has seen 100% uptime with an incredible zero loss of funds. So far, it has conducted $5 billion in cross-chain volume. Ren’s Chief Technical Officer Loong Wang explained the new updates are a huge step forward towards accessible decentralization of DeFi: “By far and away, the biggest change is that it opens the way for RenVM to move forward to the next phase of the project. This upgrade will allow consensus to be decentralized. It also allows governance of rename to be decentralized.” Key v0.4 changes Greycore activation This activation collated all the improvements made since May 2020. These members will first be moved over to the testnet before being shifted to the mainnet once everything is stable. Story continues RenVM fee improvements The fee upgrade puts RENVM in a position to hold and give out fees inside RenVM instead of using other host chains such as Ethereum. The improvements make their fee process more cost-effective as ETH gas is unnecessary to claim rewards for dark node operators. This leads to a greater profit and should increase revenue by 5 to 10%. Loong did say that the fee improvement may take longer to implement. However, they place a lot of emphasis on this upgrade as they need it to start a community-governed fund. The fee improvement also allows the RenVM to create smart contract capabilities, but this still has some time to go. Streamlines new blockchain support With the new improvements made to the network, it is now far easier to give support to new chains. Loong explains that they are hoping to increase their chain tally by at least six but that every chain is different and have their own sets of challenges. “Having said that, every chain is different — at a different stage of maturity, stability, complexity, and even feature-sets — so it is impossible to say for sure which chains will make it into this blitz.” “However, we are hopeful that we’ll add approximately a half dozen new chains. With so many chains supported, we will then turn our attention to sending assets between host chains. For example, sending ETH/ERC20s to Solana, sending SOL/SPLs to Ethereum, and so on,” he says. A careful roll-out Loong explains that RenVM, V0.4 is being rolled out slowly. This is because they are wary of any bugs that may arise. However, most of the new improvements are already being deployed. In the past, major crypto players have raised concerns about these bridges. In August 2020, Ethereum creator and founder Vitalik Buterin expressed his concerns about them. “I continue to be worried about the fact that these wrapped BTC bridges are trusted….. I hope that they can all *at least* move to a decently sized multisig,” Buterin said in a tweet. Despite the skeptics, this bridging technology will continue to play a role in the growing DeFi space. || European stocks rebound as cryptocurrency markets stabilise after sell-off: The world's biggest crypto dropped below $32,000 (£22,562) at one point on Wednesday, with the slump hitting confidence in the broader market. Photo: Omar Marques/SOPA Images/LightRocket via Getty Images (SOPA Images via Getty Images) Stocks in Europe staged a small rebound on Thursday after cryptocurrency markets began to recover from a major sell-off on Wednesday. In London, the FTSE 100 ( ^FTSE ) closed 0.9% higher, while the French CAC ( ^FCHI ) jumped 1.2% and the DAX ( ^GDAXI ) ended 1.5% ahead in Germany. It came after cryptocurrencies tumbled amid concerns over a more activist approach from Chinese regulators. The sell-off accelerated from last week when Elon Musk turned against bitcoin ( BTC-USD ). The world's biggest crypto dropped below $32,000 (£22,562) at one point on Wednesday, with the slump hitting confidence in the broader market. Ethereum ( ETH-USD ), the world's second biggest cryptocurrency, also fell as much as 30% during the session. Data provider CoinMarketCap.com revealed that the value of the entire cryptocurrency market had fallen by 20% over 24 hours, wiping approximately $350bn off the market's value. Read more: Cryptocurrency carnage: Billions wiped off market as Musk says Tesla has 'diamond hands' Neil Wilson, chief market analyst at Markets.com, said: "Markets in Europe have opened broadly higher this morning as they recover some of the losses from the swathe of selling on Wednesday." Concerns about inflation, which also hit stocks on Wednesday , appear to have eased slightly, after the Office for National Statistics (ONS) revealed that UK inflation more than doubled last month to 1.5%. Data also showed that EU inflation was running at 1.6%. Watch: What is inflation and why is it important? Across the pond, the S&P 500 ( ^GSPC ) climbed 1.2%, and the Dow Jones ( ^DJI ) edged 0.9% higher at the time European markets closed. The tech-heavy Nasdaq ( ^IXIC ) jumped 1.7%. The positive gains come after Wall Street fell for a third consecutive session on Wednesday, however, the late rebound in crypto helped US markets to close well off their lows of the day. Michael Hewson of CMC Markets said that investors seem “caught in a no-man's land of indecision between optimism over the economic reopening, and concern over central banks acting too late to address an inflationary surge.” Story continues He added: “One of the narratives driving yesterday’s losses was concern that the Federal Reserve’s apparent lack of urgency over inflation could mean that they might be too late in the event prices suddenly start to run away to the upside.” Last night, the Fed’s minutes showed that a number of participants were in favour of being more proactive in terms of tapering if the economy continued to make rapid progress towards the committees’ goals. Read more: Inner city property roars back as UK reopens Also in focus was the latest weekly jobless claims numbers which showed a fall to a new pandemic low last week. US jobless claims fell to 444,000 for the week to May 15, 34,000 lower than the previous week's revised figure, which until today had marked the lowest level since March 2020 when coronavirus struck. AnnElizabeth Konkel of jobs site Indeed.com said the US jobs market was moving in the right direction. Meanwhile Rubeela Farooqi of High Frequency Economics said: "The message from the data remains one of a gradual decline in layoffs, although the level is still elevated. "With reopening ramping up and businesses less constrained by restrictions, filings should ease further as the economy moves closer to normal capacity." Asian markets were mixed in on Thursday. The Nikkei ( ^N225 ) in Japan ended the session 0.2% higher, while the Hang Seng ( ^HSI ) in Hong Kong dropped 0.6% as it returned from a midweek holiday to play catch-up with Wednesday's global losses. The Shanghai Composite ( 000001.SS ) slipped 0.1%, with Seoul, Taipei and Manila also falling, however, there were gains in Sydney, Singapore, Wellington and Jakarta. Watch: What are SPACs? || Turtle Beach (HEAR) Brand Unveils White ELO 7.1 Air Headset Variant: Gaming accessories frontrunner,Turtle Beach Corporation’s HEAR brand, ROCCAT, recently unveiled a white color variant of its much-hyped Elo 7.1 Air wireless PC gaming headset. The Elo 7.1 Air is considered a premium wireless model of the Elo Series PC gaming headsets, equipped with versatile software. Ideal for gaming enthusiasts, the headset was originally launched in black color variant alongside wired Elo X Stereo and Elo 7.1 USB.Markedly, the San Diego, CA-based audio technology company acquired ROCCAT, a German PC peripherals maker, in 2019. ROCCAT’s expertise aided Turtle Beach’s expansion into the $1.6-billion personal computer gaming headset market as well as the $1.3-billion PC gaming keyboard and mouse market. ROCCAT’s enhanced distribution channels across North America, Europe and Asia enabled Turtle Beach to offer its lineup of products to more gamers globally.It is worth mentioning that robust demand for gaming gear along with an upsurge in work-from-home trend also played a vital role in amplifying Turtle Beach’s position in the global market. The Elo 7.1 Air headset is supported by state-of-the-art wireless technology with 360° visual audio surround sound. The cable-free design driven by a reliable connectivity makes it all the more appealing to customers.It includes a self-adjusting metal headband and rotating earcup hinges for additional flexibility. It automatically boosts critical in-game sounds on the back of Superhuman Hearing functionality to deliver an ultimate hearing experience. With a 24-hour rechargeable battery, the headset facilitates gamers with more than a week’s play time. Moreover, its AIMO illumination ecosystem adds organic light without the requirement of a cumbersome configuration process. Currently, it is available in the market at $99.99 MSRP.Notably, in the beginning of 2021, Turtle Beach acquired Neat Microphones — the maker of high-quality digital USB and analog microphones — aiding the former’s entry into the $2.3 billion global microphone market. The move diversifies Turtle Beach’s product portfolio into new categories while complementing ROCCAT’s offerings in console and PC accessories. Turtle Beach is known for its excellent microphone performance in gaming headsets. Neat’s cutting-edge technology is likely to enhance its industry-leading product line. The Neat brand expands the company’s reach beyond gaming with a wider variety of consumer audio products.Markedly, Turtle Beach is well positioned to benefit from a robust product performance combined with market share gains, backed by innovation, quality products and retail partnerships. It has several growth drivers in place and enjoys a solid foothold in its served markets. Its headsets are suited for learning and working remotely via video or audio conferencing. The combination of increased gaming activity and distance learning should continue to boost the demand for headsets amid the pandemic situation. Also, the company’s ability to significantly increase its production and delivery capacity is impressive.Turtle Beach currently has a Zacks Rank #3 (Hold). The stock has surged 165.7% compared with the industry’s growth of 62.8% in the past year. It has a long-term earnings growth expectation of 16%.
Some better-ranked stocks in the broader industry areAltice USA, Inc.ATUS,Corning IncorporatedGLW andAviat Networks, Inc.AVNW. While Altice USA sports a Zacks Rank #1 (Strong Buy), Corning and Aviat Networks carry a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Altice USA delivered a trailing four-quarter earnings surprise of 61.5%, on average.Corning delivered a trailing four-quarter earnings surprise of 39%, on average.Aviat Networks delivered a trailing four-quarter earnings surprise of 57.3%, on average.
Blockchain and cryptocurrency have 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 reportCorning Incorporated (GLW) : Free Stock Analysis ReportAviat Networks, Inc. (AVNW) : Free Stock Analysis ReportTurtle Beach Corporation (HEAR) : Free Stock Analysis ReportAltice USA, Inc. (ATUS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || RenVM Integrates Polygon for Low-Cost Token Wrapping: The latest protocol to embrace the Polygon Layer 2 scaling aggregator is RenVM. The integration will allow anyone to mint and burn supported assets on the platform.
In anannouncementon May 27, the Ren Project stated that it has now allowed native bridge support which allows the creation of wrapped assets directly on Polygon.
As with most migrations to the Layer 2 aggregator in recent weeks, it has been done to avoid excessive fees on the Ethereum network.
“This is a direct bridge so users do not need to go through Ethereum, allowing direct deposits/withdrawals to and from Polygon with minimal gas fees.”
It added that there were seven wrapped assets supported on Polygon: renBTC, renBCH, renDGB, renDOGE, renFIL, renLUNA, and renZEC. Users can also bridge assets through RenBridge with BTC, ZEC, BCH, and DOGE being supported initially.
In essence, RenVM, launched in May 2020, is a network of virtual computers that powers interoperability for decentralized applications, enabling cross-chain lending, exchanging, and collateralization of digital assets.
The network goal is to enable the permissionless exchange of value between blockchains and bring interoperability to the DeFi space. Tokens can be minted and wrapped using its RenBridge platform.
The announcement added that both teams will be pursuing the addition of Ren-based assets on all decentralized applications (dApps) that exist within the ecosystem, starting with Curve Finance, partners at tokenized Bitcoin yield platformBadgerDAO, QuickSwap, and Varen Finance.
Third-party developers can now build cross-chain dApps on Polygon with the RenJS SDK, it added.
Polygon has made a lot of progress recently in the wake of escalating Ethereum transaction costs. The protocol got a massive boost yesterday following the news thatbillionaire investor Mark Cuban had backed it.
RenVM’s native token, REN, has increased by 8% in value since its daily open. The token was trading at $0.63 at the time of press.
REN has taken a beating with the rest of them, however, dropping 30% over the past fortnight, and is still down 68% from its all-time high of $1.92 on Feb. 20.
MATIC started the day with a 17% loss, however, it’s back to trading just under its daily opening price at $2.18. The token is up 90% over the past two weeks but has not been able to top its May 18 all-time high of $2.62. || FOREX-Dollar holds firm as virus restrictions in Asia unnerve investors: * Dollar inches higher, commodity currencies drop
* Yuan falls after mixed Chinese data
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds new analyst quote, details, latest prices)
By Tommy Wilkes
LONDON, May 17 (Reuters) - The dollar held above recent lows on Monday as new COVID-19 restrictions in Asia and mixed economic data in China encouraged investors to stick with safer currencies, while a pullback in commodity prices whacked the Australian and New Zealand dollars.
Bitcoin skidded to a three-month low after Tesla Inc boss Elon Musk suggested at the weekend that the car maker was considering selling or may have already sold some of its holdings in the cryptocurrency. It later recovered slightly.
Easing commodity prices and fresh virus outbreaks in Singapore and Taiwan - where COVID-19 had been contained - helped the dollar.
The Australian dollar fell half a percent to 0.7741 while the New Zealand dollar weakened 0.8% to 0.7193.
The Norwegian crown, which is highly sensitive to oil prices, fell, with the euro adding 0.9% to 10.06 crowns .
The Singapore and Taiwan dollars also dropped, the latter by more than half a percent before recovering some of those losses.
The greenback was little moved against the euro, at $1.2143, and the yen, at 109.19, but it remained above the recent lows hit before higher-than-expected U.S. inflation data last week.
While investor nervousness supported the dollar on Monday, analysts generally expect the greenback to weaken as investors bet on a further rebound in other economies as they reopen.
"The macro agenda this week might allow both the EUR and the GBP to regain further ground against the USD, should preliminary PMI surveys for May, to be released in both areas, offer further signs of optimism, especially in the service indices," said UniCredit analysts, referring to Purchasing Manager Index survey data due out on Friday.
Fed minutes, from an April meeting that predated the inflation data surprise last week, are due on Wednesday and are the next market focus for clues on the central bank's thinking.
Speculators increased their bets against the dollar last week, mostly by adding to bets on the euro and to a lesser extent sterling.
The pound held near a two-and-a-half-month high, at $1.4095, as Britain on Monday took a significant step in reopening its economy after a four-month lockdown.
The offshore yuan slipped slightly to 6.4471 per dollar after a mixed round of economic data showed China's industrial output had slowed and retail sales missed forecasts last month.
"The softer (Chinese) activity data poses some modest downside risks for commodity-related and emerging market currencies, although the negative impact should be limited at the current juncture with commodity prices continuing to trade close to multi-year highs," said MUFG currency analyst Lee Hardman.
(Editing by Kirsten Donovan and Alex Richardson)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-10-11]
BTC Price: 4826.48, BTC RSI: 68.21
Gold Price: 1285.80, Gold RSI: 47.09
Oil Price: 51.30, Oil RSI: 57.60
[Random Sample of News (last 60 days)]
Market Snapshot – Asian News Triggers Todays Moves: North Korean Threat Leads Gold Higher It was once again a bullish day for the gold prices and it seems to be so for many days of late as the prices continue to move higher as the global risks arise. This time, it was the threat of the testing of the hydrogen bomb by North Korea which led to escalation of tension in the region. For a change, South Korea also joined the group by conducting a missile test of its own and this led to a lot of uncertainty in the region. This pushed the gold prices higher and led the stock markets lower during the course of the day. This has become almost a periodic happening over the last month or so as we have seen North Korea conduct such tests almost every 2 weeks and we have been seeing gold prices shoot up whenever that happens. China Bans ICOs The other important news came from China as the regulatory authorities in China banned all ICOs. The Chinese region had been a source of many ICOs and we had also seen a lot of Chinese investors investing in many ICOs around the world and with this ban, it is bound to affect the cryptocurrency in a big way. This could also pave the way for a cleanup of the system and a move into a new regime of controlled, regulated and planned ICOs but that is still quite some way off for now. This news led to the crash in the prices of Bitcoin and ethereum and this is likely to continue in the short term as the market begins to digest this news. This article was originally posted on FX Empire More From FXEMPIRE: The Jury is Out on Bitcoin Market Snapshot – Asian News Triggers Todays Moves Bitcoin, Ethereum, and Other Cryptocurrencies Tumble after China Bans ICO’s 4 Reasons Why Cloud Token Cryptocurrency Will Succeed Save Haven Assets Rally Following Hydrogen Bomb Detonation by North Korea Global Traders Turn Cautious as North Korea Tension Builds. Stocks Fall, Gold and Yen Jump || CREDIT SUISSE: GrubHub’s recent acquisition may take time to pay off: (GrubHub CEO Matt Maloney applauds after ringing the opening bell before the company's IPO on the floor of the New York Stock ExchangeThomson Reuters)
Fresh on the heels of the company’s $287.5 millionEat24 acquisition, Credit Suisse analyst Paul Bieber has downgraded GrubHub, citing “uncertainty on acquisition accretion.”
“We are lowering our rating as we believe shares reflect an optimistic scenario for accretion from recent acquisitions,” he wrote in a note published Monday morning.
In short, Credit Suisse believes any growth from the Eat24 buyout will be slow, and could take a full year to materialize.
Specifically, Credit Suisse points to four reasons GrubHub's growth from the Eat24 acquisition is likely to take a while:
• Eat24 integration costs."We expect the integration of Eat24 to take 6-12 months upon closing the deal and anticipate technology expense synergies to be realized once the integration is complete (ie. late 2018 or 2019)," the bank wrote, noting that integrating Seamless and GrubHub onto a common platform in 2015 and 2016 ran into unexpected delays.
• Delivery mix shift.Online ordering still only accounts for a small percentage of what Americans spend at restaurants each year. The company's wide range for EBITDA guidance has Credit Suisse analysts looking at the pace of growth with caution.
• Potential investment in marketing to drive growth."Investing in marketing to drive active diner growth in 2nd and 3rd tier cities is a big priority for Grubhub," writes the bank. "And it's possible that Grubhub will elect to invest acquisition accretion in marketing to drive faster gross food sales (GFS) growth in 2018."
• Management conservatism.The bank expects management to act conservatively in its annual guidance, which could have a chilling effect on the stock price.
The bank’s new price target for GrubHub is $53 — just a few cents shy of Wall Street consensus, according to Bloomberg, and 6.2% below Monday’s closing price.
Shares of GrubHub are up 52% so far this year. The company declined to immediately comment for this story.
(Markets Insider)
NOW WATCH:Bitcoin's bubble swells with a new record high
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• A former US Navy SEAL tweeted his solution to the North Korean crisis — and it just might work || Bitcoin and Ethereum Price Forecast – Prices Consolidate As Further News Is Awaited: The Bitcoin prices continued to consolidate, as we had mentioned in our forecast, over the last 24 hours as the market awaits the news from China. It was the news about theICOban in China that had led to the large fall at the beginning of last week and now it is the turn of reports that say that China would be blocking the Bitcoin exchanges as well. So far, there has been no confirmation of this news though the reports have been spreading around in the media like wild fire. The Chinese regulators have been mum about it but the media has been going around saying that it is only a matter of time before that happens. The investors and the traders do not want to commit themselves before the dust settles down and that is why we are seeing this consolidation.
Get Into Bitcoin Trading Today
But as the time goes on, the market is likely to get stronger and stronger and become more immune to any such shocks and even if the reports turn out to be true, we might see only a muted reaction as far as the bitcoin prices are concerned as part of the news is already priced into the markets. This is how the mature markets behave and as we have been saying, all these events would only help the market mature even more quickly. Of course, even a muted reaction in the Bitcoin market constitutes a 10% fall but this is something that we will have to wait and see.
The Ethereum market is also following the Bitcoin markets lower but it seems to be slightly on the better side as the focus is on the bitcoin and the bitcoin exchanges only, at this point in time. Of course, the market is new and hence highly interconnected and so we cannot think or evaluate one market alone without considering the other and that is why we are seeing the ETH prices also consolidate and wait for further direction.
Looking ahead to the rest of the day, the level of $4600 and $330 is likely to cap the prices for BTC and ETH respectively and we are likely to see some more consolidation and ranging for today as the markets and the traders await further news and direction.
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Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Gold Corrects Lower || Russia Blasts Decision to Extradite Alleged Bitcoin Money Launderer: Russia's foreign ministry has sharply criticized a Greek court's decision to extradite Alexander Vinnik to the US for his alleged role in laundering funds through the BTC-e bitcoin exchange.
In a statement, the Ministry for Foreign Affairs said today that they "noted with regret" that the court optedto complywith the US's extradition request for Vinnik, whowas arrestedin Greece in late July and was accused of laundering billions of dollars in bitcoin through the exchange.
Both Vinnik and BTC-e were later charged by US prosecutors, withFinCENhanding down a $110 million fine after the sealed indictment was unveiled.
Since then, Vinnik has remained in Greece pending the outcome of the extradition process. During that time the Russian government moved to extradite Vinnik on unrelated charges, a move that was later endorsed by Vinnik himself in a statement to Russia Today.
To date, Vinnik has maintained that he isinnocentof the charges, though he claims to have worked for BTC-e in the past. BTC-e, for its part, has denied Vinnik's involvement and, since the exchange's site domain was seized by US agents, has moved to establisha new cryptocurrency exchange.
But this week's ruling by a Greek judge was met with dismay by the Russian foreign ministry, which in a statement urged the court to reconsider the decision.
The Russian government said:
"We deem the verdict unjust and a violation of international law. A request from the Russian Prosecutor General's Office on extraditing Mr Vinnik to Russia was submitted to the Greek authorities. Based on legal precedent, the Russian request should take priority as Mr Vinnik is a citizen of Russia."
The statement notably makes no mention of BTC-e or the specific crimes for which Vinnik has been accused. That said, it does make note that Vinnik's legal team will appeal the decision, potentially leaving it up to the Greek Justice Ministry to decide on where the Russian national will be sent.
The foreign ministry also expressed hope that Vinnik will ultimately be extradited to Russia.
"We hope the Greek authorities will consider the Russian Prosecutor General's Office request, and Russia’s reasoning, and act in strict compliance with international law," the ministry said.
Imagevia Shutterstock
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• FICO Patent Filing Hints at Plans for Bitcoin Exchange Monitoring || 4 Reasons Why Cloud Token Cryptocurrency Will Succeed: Millions of businesses have opted for cloud computing enabling employees to work from anywhere on any device. This is the new normal for anySMBs, with bigger corporations also seeking to reduce costs by enabling employees to work from home. Fewer desks, less rent, no need to buy expensive in-house servers and employ someone to maintain them. It’s not unusual to connect with colleagues worldwide at an agreed time that (almost) suits everyone. Cloud services also offer a safety net – With the risk of physical damage to servers, natural disasters, electrical outage and worse that can potentially close a site, the sensible option is to store and run a business from the cloud.
With the cost of cloud services ever increasing and making it impossible for SMBs in emerging markets to reach their potential,Cloudwith.me, based in Dublin’s tech hub, saw an opportunity to decentralize the cloud and make it accessible to all.
To fund this vision, Cloud With Me launched the cryptocurrencyCloud Token. Cloud Tokens (CLD) are set to hit main Bitcoin and Altcoin exchanges starting from the 21stof September when their price may start to skyrocket due to buyer demand in the token that aims to finally decentralize cloud services. The important issue here is not only distributed computing, it’s the ability to have a working network that is responsible for the decentralized compensation for the usage of the computation. The Ethereum blockchain technology allows a way of compensating individuals (with Cloud Tokens) for giving their computation power to the decentralized cloud.
As written in the Cloud TokenWhite Paper: The cloud-hosting space is currently very far from perfect competition. It has been described by some as an oligopoly: a market dominated by a handful of major players, where no new player of any meaningful size can enter. An oligopoly has a natural tendency to drive prices way above what they might be in a truly competitive market.
TheInitial Coin Offering (ICO)for Cloud Token closed on August 25th. Tokens are currently still available for purchase before trading begins on currency exchange sites on September 21st.
1. Decentralized Cloud Services
With other blockchain based cloud services launching their own cryptocurrencies (such as Storj, Golem, and iExec), Cloud Token may not be considered unique on first appearances. As Cloud With Me’s co founder and CTO explains in hisblog, the difference is in the appeal to the masses. This is not a cryptocurrency that alienates the less technologically advanced. Their objective is to make cloud services available to everyone – regardless of tech experience, at a significantly reduced rate (reduction predicted at 94% at the 3-year mark). Globally, those that had previously been priced-out will be given access to an “open playground”.
“The goal is to create a decentralized peer-to-peer cloud-based ecosystem that will enable millions of people globally to share, operate and get the financial benefits from any cloud service and application directly between them in a trusted and efficient manner; from music to social insurance and investment services, in a wholly secure and private environment. We call it the Crowd Cloud.” Asaf Zamir. Co-founder and CTO
The funds raised through the sale of Cloud Token will be used to deploy a global GridNode infrastructure – The framework for building the Crowd Cloud.
Easy As 1-2-3: Decentralized Cloud Services And Payment System For The Masses, A Simple Yet Brilliant Project
1. Earning Potential
Millions of devices across the world will be able to contribute redundant computing power to the cloud. While you’re sleeping, your laptop, phone, computer, etc can donate spare processing power to a communal decentralized cloud through a GridNode assigned to you. Cloud services within this ecosystem will be monetized with Cloud Tokens. Contributors will earn a continuous income for donations, and buy any cloud services needed at a fraction of the cost.
The Cloud Token project roadmap has a defined 3-year plan, with the goal of compensating contributors in year 1:
ICO + 0
• Use Cloud tokens to access selected cloud services at 50% cost reduction and increase accessibility
• Kickstart the development of an open GridNode software component
• Bootstrap community processes to define ‘Harrison’ phase components
ICO + 12 months
• Anyone can become a GridNode owner and receive compensation over blockchain
• Owners of experiment applications can deploy them to the open grid
• First launch of all services that are critical to supporting an open grid
ICO + 24 months
• Safely deploy applications that include sensitive information
• Elastic compute, request routing and content delivery allow applications to scale globally
• Some GridNodes deployed as tamper-proof appliances leveraging
ICO + 36 months
• The decentralized grid becomes a mainstream cloud hosting platform, addressing a significant portion of cloud computing cases
• Many GridNodes are deployed as tamper-proof appliances that leverage Trusted Computing technologies
• Applications can comply with selected domain-specific regulations
1. Immediate Liquidity
This is very rare for an ICO – The usual waiting period is around 12 to 36 months as creators rely on funds raised during the ICO to build a prototype, allowing the tokens/coins to be used.
Astutely, the liquidity is created by the company itself. Cloud With Me is already a successful business, providing a service that streamlines the process for SMBs installing cloud servers. Their customer base is global, and its success is credited to their simplified approach and removing the need for technical expertise. Investors of Cloud Token can immediately use tokens to buy half priceAmazon Web Services (AWS)andMicrosoft Azure cloud servicesthrough their site. This created a demand for tokens long before they are scheduled to hit exchange websites on September 21st, 2017.
If cloud services are not high on the list of an investor’s needs, the Cloud Token wallet also allows the exchange value to be monitored and tokens traded forBitcoin,Ether, and USD.
1. You Can Now Buy Tokens With a Credit Card
A first for any ICO, Cloud Tokens can be purchased by credit card and wire transfer. For anyone new to buying cryptocurrency, the process of creating a wallet and finding a secure avenue to invest is overly complex and often a deterrent. By simplifying this process, Cloud With Me has achieved their tagline: “The first ICO for all”.
Tokens are currently still available for purchase before trading begins on currency exchange sites on September 21st.
Important Cloud Token Info
• Initial Cloud Token price: 1 Cloud = 10 USD
• Buy Cloud Tokens With Credit Card!
• Buy AWS and Microsoft Azure cloud services with a 50% discount through Cloud With Me.
To buy cloud tokens go toCloud with me
Thisarticlewas originally posted on FX Empire
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• Major US Indices Forecast, September 4, 2017, Technical Analysis || Mark Zuckerberg Will Sell Up to $12.8 Billion Worth of Facebook Shares Over the Next 18 Months: CEO Mark Zuckerberg announced that he will sell between 35 and 75 million of his shares over the next 18 months. At its current stock price, the sale would be worth between $6 billion and $12.8 billion. Zuckerberg said in a Facebook post Friday that proceeds of the sale will go to fund his and wife Priscilla Chan’s “work in education, science, and advocacy.” He noted that the new plans did not deter him and Chan from their pledge to give away 99% of their Facebook shares over their lifetime. Facebook also announced that it would nix its current plan to reclassify its stock to allow Zuckerberg to keep control even after selling off shares. “Over the past year and a half, Facebook’s business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more,” Zuckerberg said in the post. “As a result, I’ve asked our board to withdraw the proposal to reclassify our stock -- and the board has agreed.” See original article on Fortune.com More from Fortune.com SEC Breached, Billionaires Bash Bitcoin, Facebook Shares Russia Ads Facebook's Privacy Hokey-Pokey Data Sheet: Uber Loses London, Apple iPhone 8 Lags Sales, HPE Cuts Jobs Trump Questions Facebook's Decision to Turn Over 3,000 Ads to the Committee Investigating Russian Interference Whoops: ISIS Backers Reveal Location on Instagram || Bitcoin soars to fresh record highs past $4,200: Investing.com - The price of the digital currency Bitcoin rose above the $4,200 level on Monday for the first time in its nine-year history.
On the U.S.-based Bitfinex exchange, Bitcoin hit a high of $4,233.0. It was last at $4,211.4, up $152.1 or 3.75%.
Bitcoin has more than quadrupled in value so far this year and has gained around 47% in August. The surge means that the total market cap of Bitcoin has now risen to around $69 million.
Bitcoin has rallied to a series of record highs in recent sessions amid optimism that faster transactions times will speed up the spread of the cryptocurrency.
New software called Segregated Witness, or SegWit was successfully adopted by the blockchain supporting Bitcoin last week. The SegWit rollout is seen as a milestone for Bitcoin.
The software was developed as a solution to the cryptocurrency’s scaling problem, which led to a split or so-called ‘hard fork’ on August 1 when the blockchain supporting Bitcoin split into two, creating Bitcoin Cash.
Bitcoin received an additional boost after Goldman Sachs said in a report last week that it is becoming more difficult for institutional investors to ignore the rise of cryptocurrencies.
“Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are), real dollars are at work here and warrant watching,” Goldman said.
Elsewhere in cryptocurrency trading, Ethereum, Bitcoin’s closest rival in terms of market cap, rose 2.89% or $8.47 to $301.29.
Bitcoin Cash, the newly created offshoot of Bitcoin, was down 1.85% at $302.0, while Ripple was up 2.18% at 17 cents.
To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/
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German HICP inflation steady at 1.8% year over year in September, according to preliminary data. The national CPI rate also held steady at 1.8% year over year, despite the fact that energy and food price inflation accelerated sharply. Energy prices rose 2.7% year over year, after rising 2.3% year over year in the previous month. Food price inflation accelerated to 3.6% year over year from 3.0% year over year. Services price inflation meanwhile held steady at 1.6% year over year.
Thisarticlewas originally posted on FX Empire
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• US & UK Rate Hikes Likely, Trump Unveils His Tax Reform || John McAfee challenges Jamie Dimon's bitcoin skepticism: John McAfee on Wednesday challenged JPMorgan (NYSE: JPM) CEO Jamie Dimon 's skepticism of bitcoin. Dimon on Tuesday called bitcoin a "fraud" that will eventually blow up. McAfee, whose company MGT Capital Investments (OTCPK: MGTI) mines the cryptocurrency, said he respects Dimon and people in his position "are not idiots," but he challenged Dimon's criticism. "You called bitcoin a fraud," McAfee told CNBC's "Fast Money" on Wednesday. "I'm a bitcoin miner. We create bitcoins. It costs over $1,000 per coin to create a bitcoin. What does it cost to create a U.S. dollar? Which one is the fraud? Because it costs whatever the paper costs, but it costs me and other miners over $1,000 per coin. It's called proof of work."Miners invest "massive" amounts of supercomputing power and electricity in creating bitcoins, McAfee said. Surely then, there is value in creating a bitcoin, he added. Bitcoin has faced scrutiny because it is highly volatile. The cryptocurrency (Exchange: BTC=-USS) was last trading Wednesday evening at more than $3,870. "And the fact that bitcoin is consistently growing in its use and its value has to say something," McAfee said. "Sure it will rise and fall as all new technologies are. But at the same time, it is certainly not a fraud."McAfee made a lewd bet on Twitter earlier this summer that bitcoin would reach $500,000 within three years. On Wednesday, he said people called bitcoin a bubble that was bursting at one point, and then it smashed their expectations. Plus, the long-term trend of bitcoin has been consistently up, McAfee added. McAfee is known for his pioneering McAfee Security antivirus software products, now part of Intel (NASDAQ: INTC) , as well as his extreme comments to the media and run-ins with the law. In July, McAfee settled a lawsuit with Intel over his right to use his name on other products. He agreed not to use his name, trademark his name or use certain phrases including his name. John McAfee on Wednesday challenged JPMorgan (NYSE: JPM) CEO Jamie Dimon 's skepticism of bitcoin. Dimon on Tuesday called bitcoin a "fraud" that will eventually blow up. McAfee, whose company MGT Capital Investments (OTCPK: MGTI) mines the cryptocurrency, said he respects Dimon and people in his position "are not idiots," but he challenged Dimon's criticism. "You called bitcoin a fraud," McAfee told CNBC's "Fast Money" on Wednesday. "I'm a bitcoin miner. We create bitcoins. It costs over $1,000 per coin to create a bitcoin. What does it cost to create a U.S. dollar? Which one is the fraud? Because it costs whatever the paper costs, but it costs me and other miners over $1,000 per coin. It's called proof of work." Miners invest "massive" amounts of supercomputing power and electricity in creating bitcoins, McAfee said. Surely then, there is value in creating a bitcoin, he added. Bitcoin has faced scrutiny because it is highly volatile. The cryptocurrency (Exchange: BTC=-USS) was last trading Wednesday evening at more than $3,870. "And the fact that bitcoin is consistently growing in its use and its value has to say something," McAfee said. "Sure it will rise and fall as all new technologies are. But at the same time, it is certainly not a fraud." McAfee made a lewd bet on Twitter earlier this summer that bitcoin would reach $500,000 within three years. On Wednesday, he said people called bitcoin a bubble that was bursting at one point, and then it smashed their expectations. Plus, the long-term trend of bitcoin has been consistently up, McAfee added. McAfee is known for his pioneering McAfee Security antivirus software products, now part of Intel (NASDAQ: INTC) , as well as his extreme comments to the media and run-ins with the law. In July, McAfee settled a lawsuit with Intel over his right to use his name on other products. He agreed not to use his name, trademark his name or use certain phrases including his name. More From CNBC Terror to end bitcoin anonymity? 'Smart' people and Panama Papers Bitcoin mining IPO falls short || Bitcoin Cash rally cools, dips below $700: Bitcoin Cash rallied to $719 before paring gains Investing.com Bitcoin Cash gave up some of its early session gains as it dipped below $700 on Thursday while its illustrious rival Bitcoin continued its trend higher following a slump earlier this week. Bitcoin Cash rose $14.35, or 2.21%, to $662, retreating from a session high of $719. The move higher in Bitcoin Cash comes a few days after the Peoples Bank of China (PboC) sent shockwaves through the cryptocurrency market, after imposing a ban on individuals and businesses from raising funds through initial coin offerings (ICOs). An initial coin offering ICO is a means fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful. On the U.S.-based Bitfinex exchange, bitcoin rose to $4,614.0, up $24.9 or 0.52%, as it seeks to return to its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $76.31 billion. The Chinese governments latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand currently underpinning cryptocurrency growth. Ethereum, in particular, is widely believed to vulnerable to a dip in demand following these latest regulatory measures, as ICO issuers often request payment in ether a currency transacted through the Ethereum network. Ethereum fell 1.61% to $332. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Bitcoin Cash rally cools, dips below $700 Euro dips below $1.20 after hitting nearly two-week highs Forex - Dollar drops to 32-month lows vs. rivals after data, Draghi
[Random Sample of Social Media Buzz (last 60 days)]
$BTCUSD Bitcoin shatters all moderate price predictions on tradingview http://dlvr.it/PdmcVS → via http://bitcoinsportsbook.top || #bitcoin non si ferma più? Analisi tecnica || ギュイーン＝50万なんだなって（小並感 || BITCOIN Analysis for October 6, 2017 http://fb.me/94fQ1SpKs || Bitcoin on eBay: (2016 BTCC Mint Titanium V Series 1 BTC Bitcoin ...) - http://bit.ly/2g33gJB #bitcoin #bAgile #blockchain #litecoin ...pic.twitter.com/tRBApqNRJf || CoinExchangeio #4 Market(3.02%) PURA/BTC - Pura Vol(24h):61.8169 BTC / $290,898 - Price: $0.491098 / 0.00010436 BTC || Jeff Garzik SegWit2x Bitcoin ‘Upgrade’ Comments Spark Trolling Campaign
#Bitcoin #JeffGarzik
Read more: https://livemarketcap.com/news pic.twitter.com/hKGH59Xrvb || China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges
https://www.applancer.co/blog/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges …
#bitcoin #bitcoinban #regulationspic.twitter.com/ZeIypV2Tqi || 1 KOBO = 0.00000328 BTC
= 0.0151 USD
= 5.3303 NGN
= 0.2084 ZAR
= 1.5561 KES
#Kobocoin 2017-10-09 12:00 || #bitcoin non si ferma più? Analisi tecnica
|
Trend: up || Prices: 5446.91, 5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45, 6031.60
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-06-28]
BTC Price: 5903.44, BTC RSI: 30.59
Gold Price: 1247.80, Gold RSI: 21.87
Oil Price: 73.45, Oil RSI: 68.60
[Random Sample of News (last 60 days)]
Why Baidu, Inc. Stock Dropped Today: Shares ofBaidu Inc.(NASDAQ: BIDU)fell 9.5% on Friday after the Chinese internet search leader announced that its chief operating officer, Qi Lu, is stepping down from his post.
More specifically, Lu says he will no longer serve as COO of Baidu starting in July 2018 "due to personal and family reasons." But hewillcontinue to serve as the vice chairman of Baidu's board of directors.
IMAGE SOURCE: GETTY IMAGES.
Recall that Baiduhired Lu early last yearto much fanfare fromMicrosoft, where he worked as global executive vice president of the American tech giant's applications and services group. In particular, Lu was known as one of the industry's leading experts on artificial intelligence -- an area where Baidu was keen to strengthen its position -- and had since broadly taken over daily operational management at Baidu.
"I am highly optimistic on Baidu's future and will continue to support Baidu, while spending more time with my family in the U.S.," Lu explained. "For my next steps, I plan to work in research and investment areas, to help advance our shared mission to make a complex world simpler through technology."
Baidu CEO Robin Li praised Lu for his work at the company, thanking him for "many positive changes at Baidu" since he joined the company.
"With Baidu's strategy to transform into an AI-first company firmly in place," Li added, "we are well positioned to continue the momentum that we have built in the past year."
To be sure, it's hard to blame investors for reacting negatively to Lu's decision to step down from his significant managerial duties. But however talented Lu might be, Baidu is about more than just a single employee. And I think investors would do well to focus on its underlying fundamentals,which remain impressive, as well as the fact that -- as Li noted -- its AI-first transformation is already well under way. Viewed through that lens, patient Baidu shareholders should have little reason to worry.
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Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Baidu. The Motley Fool has adisclosure policy. || AUD/USD and NZD/USD Fundamental Daily Forecast – Falling U.S. Treasury Yields Underpinning Aussie, Kiwi: The Australian and New Zealand Dollars posted strong rebound rallies on Thursday after a broad-based sell-off by the U.S. Dollar. The greenback was pressured after escalating trade tensions drove investors into the safety of U.S. Treasurys. This drove down yields, making the U.S. Dollar a less attractive investment.
Aussie and Kiwi investors have been jittery all week after President Trump requested the United States Trade Representative to identify $200 billion worth of Chinese goods late Monday, for additional tariffs at a rate of 10 percent.
Trump’s request for additional tariffs follows aggressive moves by both economic powerhouses last week. Beijing again reacted to Trump’s statement by pledging to retaliate with additional tariffs on U.S. goods of their own.
Adding to the bids in the U.S. Treasury markets was weaker than expected U.S. economic data. The Australian and New Zealand Dollars rallied off of multi-month lows after the Philadelphia Federal Reserve’s gauge of U.S. Mid-Atlantic business activity fell to near a 1 ½ year low.
The Philly Fed report said business activity fell from 34.4 in May to 19.9 in June, its lowest since November 2016. The index’s sharpest drop since January 2014 came amid escalation in a U.S.-China trade conflict, which has pressured the Australian and New Zealand Dollars in recent days.
Some traders said the Philly Fed miss to the downside was a convenient excuse for Aussie and Kiwi bears to take profits after a prolonged sell-off.
The Australian and New Zealand Dollars are trading higher early Friday as investors continue to react to falling U.S. Treasury yields amid concerns over U.S.-China trade relations and key U.S. economic data on Friday.
At 0456 GMT, theAUD/USDis trading .7393, up 0.0015 or +0.22%. TheNZD/USDis at .6904, up .0035 or +0.52%.
Traders showed little reaction to fresh data from New Zealand released earlier in the session. Visitor Arrivals came in up 2.7% versus the -1.0 percent previous read. Credit Card Spending was up 3.7%, but well below the previous 6.9% read.
The major reports from the U.S. that should move the markets on Friday are Final Manufacturing PMI and Flash Services PMI, due to be released at 1345 GMT.
Final Manufacturing PMI is expected to come in at 56.3, slightly below the previously reported 56.4. Flash Services PMI is forecast at 56.4, down from the previously reported 56.8.
The biggest influences on the AUD/USD and NZD/USD today will be any fresh tariff threats from the U.S. or China, U.S. economic data and the outcome of the OPEC meeting in Vienna. Keep an eye on the Treasury yields. If they continue to fall then the Aussie and Kiwi will strengthen.
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – more negativity into the United States stock markets || Alcoa's Environmental Breakthrough Could Change the Face of the Company: In 1886, Charles Hall invented the modern process for manufacturing aluminum in the shed behind his Ohio home. Two years later, he co-founded the Aluminum Company of America, which was later renamed to its acronym: Alcoa (NYSE: AA) . While a lot has changed over the last 130 years or so, a critical part of aluminum smelting remains the same: the requirement to burn a carbon-based material in the final step. Because the step is a process-related chemical reaction, carbon dioxide is emitted even when the overall process is powered by renewable energy. It's a big deal. That single chemical reaction accounts for 20% of all emissions from global aluminum production, which accounts for 1% of the planet's total carbon emissions -- equivalent to the greenhouse gas output of the United Kingdom. Aluminum's importance as a material, used in everything from your iPhone to your fuel-efficient car, largely forces manufacturers to accept the environmental burden. But that will soon change. Alcoa created a new process for manufacturing aluminum that produces oxygen, rather than carbon dioxide, in the final reaction step to yield the world's first truly carbon-free aluminum production process. While the environmental breakthrough has major implications for the industry and planet at large, it could also transform the business as investors know it today. A hand holding up a light bulb with a tree in the background. Image source: Getty Images. Carbon-free aluminum, explained It shouldn't be understated: Removing direct carbon dioxide emissions from the smelting process has been the holy grail of the aluminum industry for decades. It's fitting that Alcoa was the company to discover the breakthrough, but the technology wouldn't have left the lab without some help. During its global search for lower-impact materials, Apple stumbled onto the Alcoa lab in Pittsburgh toiling away at aluminum processing improvement. The technology giant is one of the world's largest consumers of aluminum and has worked hard in recent years to source all of its energy from renewable sources, in addition to encouraging its materials suppliers to implement greener, cleaner, and more ethical production processes. Story continues In fact, Apple facilitated the partnership between Alcoa and Rio Tinto (NYSE: RIO) . The miner came on board to form a joint venture called Elysis (from "electrolysis," the process that was altered to remove carbon dioxide emissions) that will license the technology package to global aluminum smelters by 2024. To do that, a little more research and development is required. So, the nation of Canada and province of Quebec are contributing a combined $92.5 million for additional research, while Apple is throwing in $11 million to go along with $42 million from the JV partners. That's a small price to pay for the possibility of forever altering the aluminum company's business. Aluminum ingots stacked. Image source: Getty Images. Alcoa, technology provider? After splitting away from Arconic to focus on the aluminum supply chain, which includes bauxite and alumina, Alcoa has made tremendous progress transforming itself. That transformation has largely focused on improving its financial strength by lowering debt, reducing its pension obligation shortfalls, and maintaining the cash kept on the balance sheet above $1 billion. So far, so good. The aluminum leader ended 2017 with $1.36 billion in cash on hand and generated $2.68 billion in total adjusted EBITDA for the year -- easily the highest total in years. It's expected to get even better this year, as the company's full-year 2018 guidance calls for adjusted EBITDA of $3.5 billion to $3.7 billion. The transformation comes at a pivotal time in Alcoa's history. The company has recently turned its reliance on hydroelectric power, which provides 70% of its electricity consumption, into a competitive advantage by creating the premium Sustana brand of " green aluminum ." Although it produces about 2.5 metric tons of carbon dioxide per metric ton of aluminum, it's the lowest-carbon aluminum on the market. Rio Tinto's RenewAl brand emits 4 tons of carbon dioxide per ton of metal, while coal-fired smelters in China cough up 18 tons of carbon dioxide per ton. A hydroelectric dam spillway. Image source: Getty Images. That said, green aluminum is relatively new, so it's difficult to determine the significance of the trend in the near term. But the emergence of Elysis creates the possibility for truly carbon-free aluminum for all smelters using renewable energy in the long term. The new smelting process's potential to act as a force multiplier for the fledgling green aluminum market could encourage major producers to invest in cleaner production ahead of 2024. Customers may even demand it, and no producer will want to be left behind. That could help the technology packages sold by Elysis to sell like hotcakes in several years -- and reposition the North American aluminum industry as the center of the global industry in the process. In fact, that seems to be a crucial part of the long-term strategy for Alcoa and even Canadian Prime Minister Justin Trudeau. As stated in the press release : "When fully developed and implemented, it will eliminate direct greenhouse gas emissions from the smelting process and strengthen the closely integrated Canada-United States aluminum and manufacturing industry. The new joint venture company will also sell proprietary anode and cathode materials, which will last more than 30 times longer than traditional components." The key here for investors is that the technology packages will include process know-how and materials required to enable the carbon-free smelting process. Those will be provided by Elysis (and sourced from the United States), opening the door for substantial technology licensing revenue for Alcoa through its equity investment. That could provide a steady foundation of profits in an industry known for volatility and high costs. And that's on top of the company's ability to implement the technology at its own smelters worldwide to provide the world's first global supply of carbon-free aluminum products. Aluminum rolls sitting in a warehouse. Image source: Getty Images. Alcoa is going green -- and taking everyone with it While 2024 is several years away, the announcement of Alcoa's carbon-free aluminum smelting process couldn't have come at a better time. The company is the strongest it has been in years, thanks to severe imbalances in the global market for alumina and aluminum. That provides it financial flexibility to ramp up investments in Elysis, if necessary. Meanwhile, most major producers just began offering green aluminum brands created using renewable energy, but can't market them as "carbon-free" because of the emissions involved in the final smelting step. That could change in 2024 should they license the technology package from Elysis -- and customers such as major automakers or Apple may even demand it. If that results in a race to increase renewable energy in the aluminum industry in the next few years, then investors should take it as a proxy for the eventual success of the new process technology. It could be truly transformational for Alcoa, and forever change the face of the company. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends AAPL. The Motley Fool has the following options: long January 2020 $150 calls on AAPL and short January 2020 $155 calls on AAPL. The Motley Fool has a disclosure policy . || This Japanese Exchange Will Borrow Your Bitcoin for a Yearly Fee: Japan Cryptocurrency Exchanges In an apparent step to increase liquidity and attract users, Japanese cryptocurrency exchange Bitbank has announced a bitcoin burrowing program. Have 1 BTC? Loan it out As per a report , the exchange shall allow account holders to lend a minimum of 1 bitcoin (BTC) to its Virtual Currency Lending service – in return for a fixed, predetermined rate of interest. Initially, the service shall be available only for BTC holders and is scheduled to include popular cryptocurrencies like ripple, ether, litecoin, and bitcoin cash in the coming months. One of Japan’s 16 full-licensed cryptocurrency exchanges, Bitbank offers eight cryptocurrency trading pairs and is ranked 31st in the world in terms of total daily traded volume. The move comes on the bank of GMO’s cryptocurrency burrowing program, which the Japanese digital asset exchange launched in April 2018, making Bitbank the second exchange in the bitcoin-crazed country to do so. The Technicals As stated, the program shall burrow a user’s bitcoin for a minimum of 12 months, and payout interest dividends in proportion to lent capital. Not anyone can rent out their bitcoin thou, as the exchange will oversee a month of “recruitment” for the program, conducting extensive personal and account checks upon interested users. After approval, the vetted traders would be allowed to lend their bitcoins in the subsequent month, i.e. a user who is approved in June 2018 shall be able to take part from July 2018, with a lock-in until July 2019. Interestingly, Bitbank is seemingly stringent with its 12-month lock-in period, as the notice specifies: “The cryptocurrency remain locked during the entire loan period. So, the cryptocurrency cannot be sold or transferred. Only when the loan period is elapsed or returned by Bitbank, the customer will be able to sell or transfer the cryptocurrency.” The Fine Print Bitbank shall pay a “usage fee” to lenders for usage of their funds, and they aren’t in line with cryptocurrency’s famed return rates. Story continues For amounts up to 5 BTC, the dividend is a paltry 3 percent, with only a percent increase for users lending more than 5 BTC, and a maximum of 5 percent in usage fees for amounts exceeding 10 BTC. At the time of writing, it isn’t known if the fees shall be processed on each month or each year. Notably, in case a lender decides to retract his funds – for whatever strike of misfortune – he stands to lose 5 percent, inclusive of related taxes. Interestingly, the exchange’s rival GMO offers a much better deal for users with regards to a lock-in period – offering a three-month minimum timeframe for users who lend their bitcoin, and a 150-day timeframe for other virtual currencies, such as ether, ripple, and litecoin. The post This Japanese Exchange Will Borrow Your Bitcoin for a Yearly Fee appeared first on CCN . || 4 Energy Stocks Yielding Over 6%: High-yield dividend stocks can be a great way for investors to generate cash returns from investing, but they aren't always the most stable, and the high yield itself can mean the market may not think a dividend is sustainable. But not all high-yield stocks are high-risk. Within the energy sector, renewable energy is a great place to find sustainable dividends that will pay investors for decades to come. Here are four investors shouldn't overlook. Wind and solar projects with an urban skyline in the background. Image source: Getty Images. The Brookfield portfolio of dividends Brookfield Asset Management (NYSE: BAM) has become one of the biggest renewable energy owners in the world through a series of companies it controls. Two high-yield stocks of note are Brookfield Renewable Partners (NYSE: BEP) and TerraForm Power (NASDAQ: TERP) . Brookfield Renewable Partners owns 7,878 megawatts (MW) of hydroelectric generating assets, 3,619 MW of wind, 1,533 MW of solar, and 2,698 MW of energy storage assets. These assets generated $2.74 billion in revenue over the past year and $608 million in funds from operations (FFO), a measure of cash generated after operating expenses. What makes Brookfield Renewable Partners unique among energy yieldcos is that management aims to pay out just 70% of FFO as a dividend. The rest of the cash is used to acquire projects that aim to grow the business 5% to 9% organically annually, meaning the company doesn't have to use its stock as a tool to fund growth. With a dividend yield of 6.5% and more organic growth ahead, the company is a great long-term buy. TerraForm Power was an offshoot of now-bankrupt SunEdison , but survived when Brookfield Asset Management took a controlling interest and sponsorship in the yieldco. That's brought some of the same management style to the company as Brookfield Renewable Partners. TerraForm owns 2,600 MW of energy assets, with 33% coming from wind and 67% from solar. These projects also come with contracts to sell energy to utilities, averaging 14 years of contracted life remaining across the fleet. Story continues The company aims to pay out 80% to 85% of cash available for distribution (CAFD) and grow its dividend 5% to 8% annually in the long term. With an expected dividend of $0.76 in 2018, a yield of 6.6%, this a dividend to count on for a decade to come. The wind dividend Pattern Energy (NASDAQ: PEGI) is a yieldco that owns wind projects around the world , currently boasting 2,942 MW in its portfolio. These projects come with long-term contracts to sell energy to utilities, known as power purchase agreements (PPAs), which are what fund the company's 8.7% dividend yield. Solar farm at sunset. Image source: Getty Images. Pattern Energy is steadily growing through its affiliate Pattern Development 1.0, which is a renewable energy development company. In the first quarter, the company bought 206 MW of projects in Japan that have 20-year PPAs with utilities. It also bought 84 MW of Japanese projects for $131.5 million, which will add an average of $13.3 million to CAFD each year over the next five years. A $194.0 million acquisition of 122 MW will also add $20.9 million of CAFD when completed in 2021. The challenge for Pattern Energy is that its high dividend yield makes it tough to sell shares to fund further acquisitions. The hurdle rate, or rate of return, management must generate to justify using stock sales to buy projects is so high that it will limit growth acquisitions. So, I wouldn't consider this a growth dividend, but the high yield and steady cash flow from wind projects still makes it a great stock for investors to own today. The yieldco pioneer NRG Yield (NYSE: NYLD) (NYSE: NYLD-A) is a yieldco that's gone through a major transition, as its original sponsor, NRG Energy , has decided to sell its stake in the company to Global Infrastructure Partners (GIP). The deal is expected to close in the second half of the year and is already bringing some stability to the company. Since the deal was announced, NRG Yield's bonds have seen their yield fall by 75 basis points , lowering the cost of capital for future project acquisitions. As for existing operations, NRG Yield expects 2018 adjusted EBITDA to be $950 million and CAFD of $280 million, which will leave about $35 million to pay down debt or fund growth after paying an annualized $245 million, or $1.32 per share, dividend by the end of the year. One of the changes GIP is expected to bring is a more conservative financial structure. Projected debt balances are expected to fall from $6.77 billion to end 2017 to $4.45 billion to end 2022. This will be done by naturally allowing debt to amortize and won't impact the dividend or dividend growth. NRG Yield has been a forgotten asset for NRG Energy, but should get some renewed life under GIP. The investment firm is already backstopping the $365 million acquisition of a solar facility, indicating that it will use its financial muscle to make sure NRG Yield succeeds. That's the kind of support a yieldco needs and is why I think the stock's 6.8% dividend yield has more room to grow. High-yield stocks don't have to be high-risk Each of these stocks has a dividend yield over 6% and has stable, contracted cash flows for many years into the future. As the renewable energy industry grows, these companies have the opportunity to grow by using excess cash or stock to fund acquisitions, growing their dividends along the way. If you're looking for great energy dividends today, these stocks are a great place to start. 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 owns shares of Pattern Energy Group. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Gig Workers Aren't Saving for Retirement. Here's How They Can Do Better: We hear a lot these days about how the gig economy is growing. According to the U.S. Bureau of Labor Statistics, more than 10.6 million Americans are working as independent contractors, on-call workers, or temporary employees. But while being part of the gig economy certainly has its benefits -- namely, not being locked into a schedule and having a shot at a better work-life balance -- the problem many independent workers face is having to navigate retirement savings on their own. Whereas a large number of permanent employees have access to 401(k) plans through their employers, gig workers do not. As such, only 16% of gig workers have a retirement savings plan, which means millions of freelancers are putting their long-term financial security at risk. Man at a desk talking on a mobile phone IMAGE SOURCE: GETTY IMAGES. If you've decided to work independently, you should know that there are several options at your disposal for amassing a retirement nest egg. Here are a few to look into. The traditional or Roth IRA Anyone who earns income is eligible to open an IRA. IRAs come in two main varieties: the traditional and the Roth. With the former, contributions are tax-deductible, but withdrawals are taxed in retirement. With the latter, you won't get an immediate tax break for funding your account, but your withdrawals in retirement will be yours free of taxes. There are different schools of thought as to which IRA type is better , but whether you open an traditional account or a Roth, the annual contribution limits for this year are $5,500 if you're under 50, or $6,500 if you're 50 or older. That said, you can't contribute directly to a Roth IRA if your income exceeds a certain threshold , and for 2018, it's $135,000 as a single tax filer or $199,000 if you're married filing jointly. The SEP IRA A SEP IRA is an IRA designed for independent workers and small-business owners that allows you to save for retirement at much higher levels than traditional and Roth IRAs allow. This year, you can contribute up to 25% of your net business earnings for a maximum of $55,000. And by net business earnings, we're talking your gross income minus your expenses, SEP contribution, and half of your self-employment tax es. (Remember: As a gig worker, you don't have taxes removed from your earnings, so you're required to pay them as you go.) The only downside to a SEP IRA is that if you own a business and employ others, you must contribute the same amount to your workers' accounts as you do to your own. But if you work solo, that's not something to worry about. Story continues The SIMPLE IRA The SIMPLE IRA is another handy savings tool available to independent workers, and as is the case with a SEP, your annual contribution limits are much higher than those of traditional and Roth IRAs. Currently, you can contribute up to $12,500 if you're under 50, or $15,500 if you're 50 or older. If you own a business and have employees, you're required to match their contributions to a certain degree. And if you're working solo, you get to contribute as both employee and employer. The Solo 401(k) Just because you're not a permanent employee doesn't mean you can't open a 401(k). In fact, Solo 401(k)s work just like regular 401(k)s, only they come with higher annual contribution limits. For the current year, you can contribute up to 25% of your self-employment income up to a maximum of $55,000 if you're under 50, or $61,000 if you're 50 or older. When you calculate that 25%, you need to first deduct your self-employment taxes as well as your plan contributions to come up with the right figure. But if you're a higher earner, you have a great opportunity to sock away a nice sum of money in a tax-advantaged fashion. Don't neglect your long-term savings Working independently often means dealing with the challenges of having a variable income. But don't let that deter you from saving. Aim to contribute small amounts to your retirement plan initially and ramp up as your earnings stabilize. The more of an effort you make to save now, the greater your chances of retiring comfortably. And that's not something you want to compromise on. 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 . || VictoryShares ETFs Makes Friends with Volatility: This article was originally published onETFTrends.com.
For an investor, volatility can be a friend or foe--for the short-term investor, it can offer a broad range of trading options for profitability, but for long-term investors, it can be unnerving to hold on to an investment when prices are fluxing wildly.
However, investment companies like VictoryShares are befriending volatility and using it to create innovative solutions, such as their VictoryShares exchange-traded funds in the core broad market: VictoryShares US 500 Volatility Wtd ETF (CFA) , VictoryShares US Small Cap Vol Wtd ETF (CSA) , VictoryShares International Vol Wtd ETF (CIL) , and VictoryShares Emerging Mkt Vol Wtd ETF (CEZ) .
Related:Small-Cap ETFs Are Now Exhibiting Less Volatility
Mannik S. Dhillon, President of VictoryShares, told ETF Trends that its ETFs "use volatility as a weighting mechanism to achieve diversification." Using volatility rather than concentrating on a specific market sector or utilizing a cap weighting strategy, which is the practice of using market price and the outstanding shares to determine the percentage weighting of a company for inclusion in an index, helps Victory Capital provide investors with solutions that can weather different market environments.
"We strive to create a diversified portfolio using volatility as a weighting tool," said Dhillon. "And what that does is it essentially says instead of weighting companies by their market cap, weight them based on their historical risk. We think one of the primary benefits of volatility weighting is that can achieve diversification without taking additional risk."
Thus far, the proverbial proof is in the pudding as evidenced by aforementioned ETFs' performance:
• VictoryShares US 500 Volatility Wtd ETF (CFA)--one year total return: 14.59%
• VictoryShares US Small Cap Vol Wtd ETF (CSA)--one year total return: 19.10%
• VictoryShares International Vol Wtd ETF (CIL)--one year total return: 10.67%
• VictoryShares Emerging Mkt Vol Wtd ETF (CEZ)--one year total return: 7.14%
Large Cap Volatility
When looking at CFA in particular, it may be surprising to see that the large companies comprised in the ETF are generating excellent returns via volatility since the common notion is that these stock prices should be relatively static in nature. As such, risk-averse investors may flock to these stocks more, but Dhillon begs to differ if the current market environment no longer renders these investments as the safe haven investors think they are.
Related:ETFs to Consider Hedging a Summer of Volatility
"What goes up also comes down in investing," said Dhillon. "What's not volatile today will be volatile one day, and vice versa."
VictoryShares also capitalizes on volatility in the dividend income space, minimum volatility and equity long/cash. Needless to say, death and taxes aren't the only sure thing, but volatility is also a constant and with their broad range of ETFs available, VictoryShares has all markets covered.
For more volatility-related news,click here.
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READ MORE AT ETFTRENDS.COM > || When Distributed Ledger Meets Distributed Services: How Blockchain is Disrupting the Sharing Economy: One of the phrases thats almost impossible to not hear about is the ever-continuing growth of whats referred to as the sharing economy. As the demographics and consumer trends of society shifts, so to do consumers needs. Companies like Airbnb , Uber , and Lyft have taken off in recent years as a result of the sharing economy. Many consumers find that in their daily routines, they really dont have as much of a need for car ownership; however, there are still times when they may need the use of a vehicle. On the other hand, there are many car owners who have paid a significant amount for their vehicle, yet find themselves underutilizing the benefits of owning it. Thats exactly where Uber and Lyft have come in to connect both parties together. While Airbnb, Uber, and Lyft are some of the most obvious cases of this growing trend, there are a variety of smaller industries bringing the same model to the markets for other use-cases. Another booming movement is the gig economy and it goes hand-in-hand with the sharing economy. In the gig economy, companies are essentially sharing employees. Its typically more cost effective for companies to hire freelancers in a wide variety of niches. Freelancers with skills in fields like graphic design, writing, and programming (among others) are now working with multiple companies on specific projects rather than just one company as an employer. According to a recent study conducted by LinkedIn , in 1989, freelancers made up only 6% of the workforce; fast-forward to today, and freelancers in the gig economy are estimated to represent an estimated 43% of the workforce by the year 2020. Clearly, the sharing economy is growing in every facet of the global economy. From ride-sharing platforms to housing, and even workforce sharing, its clear that the rate is likely to continue growing. While the sharing economy and gig economy are growing and disrupting traditional industries in age-old markets (hotels, taxi services, etc.), what about the technology powering those services? The gig and sharing economy have both put an emphasis on creating an agile economy by distributing the services offered. What if there was a technology that fit the model perfectly? Enter blockchain. Yes, the same technology that lies behind Bitcoin, Ethereum and other cryptocurrencies. Story continues Image Credit: VB Blockchain: Distributed Ledger Meets a Distributed Economy With the economy continually shifting in the direction of sharing across industries, it only makes sense that these distributed services, which have been disrupting large industries globally, go hand-in-hand with blockchain technology thats been breaking into various sectors in recent years. Blockchain technology has been bringing the sharing economy to another level by making massive shifts in the way we think about business. By implementing a decentralized method for solving pain points across the economy, the sharing economy can operate even more effectively. There are many examples of the distributed revolution extending to peer-to-peer (P2P) lending and distributed systems for handling intellectual property and copyright . But there are also cases of blockchain technology being implemented into already-distributed sectors of the economy to disrupt even further. Industries can look to companies like ShareRing as an example of the two movements coming together. ShareRing is using blockchain technology to further the sharing economy in a big way. Theyve teamed up with GTI Holdings to help bring more providers of goods and services onto the blockchain. With the system, users all over the world will have easier, more efficient access to a variety of distributed goods and services in many different sectors. The company is also taking advantage of the recent shift in the automobile industry and implementing blockchain technology with it. ShareRing, a company with a lot of experience in blockchain technology and the growingly distributed economy recently joined the Mobility Open Blockchain Initiative (MOBI) consortium and is working with some of the biggest car manufacturers in the industry to bring the disruptive nature of blockchain technology to the automobile industry. MOBI is looking at not only ride-sharing but other facets of distributed ledgers in the industry as well. The groups goal is to make transportation safer, more affordable, and more widely accessible using blockchain technology. Blockchain technology in the sharing economy is still a new step, so the implications for the movement arent known entirely yet. However, it should come as no surprise that these two game-changing disruptors are teaming up as they naturally fit so well together. Bringing a distributed system to a distributed economy just makes sense. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast crude oil markets explode higher on Wednesday USD/JPY Price Forecast US dollar rallies significantly against Japanese yen Natural Gas Price Forecast natural gas markets reach towards round number Gold Price Forecast Gold markets drift lower towards support WTI Bullish Pennant in a Strong Uptrend Natural Gas Price Fundamental Daily Forecast Traders Pricing in 70 Bcf Injection || 3 Biotech Stocks That Soared This Week: Are They Buys?: It was a big week for the biotech industry with the kick-off of the much-anticipated American Society of Clinical Oncology (ASCO) annual meeting in Chicago . But not all of the excitement stemmed from the ASCO conference. Three of the top biotech stocks this week soared because of totally different catalysts. Madrigal Pharmaceuticals (NASDAQ: MDGL) , Viking Therapeutics (NASDAQ: VKTX) , and Lexicon Pharmaceuticals (NASDAQ: LXRX) stocks ranked as especially big winners over the last few days. What lit a fire beneath these stocks -- and are they smart picks to buy now? Here's what you need to know. Man with arms outstretched in front of large display showing stock data and stock chart going up Image source: Getty Images. 1. Madrigal Pharmaceuticals: A big NASH splash Madrigal Pharmaceuticals stock exploded this week , with the biotech's share price skyrocketing nearly 140%. No stock jumps that much without some really good news. For Madrigal, the really good news related to results from a phase 2 study of its lead candidate MGL-3196 in treating non-alcoholic steatohepatitis (NASH). On Thursday, Madrigal reported that MGL-3196 met its primary endpoint of reducing liver fat in patients with NASH in the phase 2 study. The biotech also had other positive news. Significantly more patients taking MGL-3196 achieved a two-point reduction in their NAFLD activity score (a measure of the severity of fatty liver diseases) than did patients on placebo. In addition, significantly more patients treated with MGL-3196 experienced NASH resolution than did patients on placebo. Those results were tremendously important for Madrigal because they could bode well for the chances for success for MGL-3196 in phase 3 testing. There are currently no FDA-approved treatments for NASH. Some predict that the annual NASH market could grow to as much as $35 billion in the coming years. 2. Viking Therapeutics: What's good for the goose... Viking Therapeutics stock vaulted over 80% higher this week . But Viking didn't announce any clinical results. In fact, the biotech didn't have any news this week. It didn't have to. Madrigal's positive phase 2 results were all Viking stock needed to take off. Story continues Like Madrigal, Viking Therapeutics is developing an experimental drug that holds the potential for treating NASH. Viking's lead candidate, VK2809, is a thyroid hormone receptor beta-selective agonist. So is Madrigal's MGL-3196. Investors immediately recognized that positive results for MGL-3196 increase the likelihood that VK2809 could also be relatively safe and effective. Viking is currently conducting a phase 2 study of VK2809 targeting treatment of high cholesterol and non-alcoholic fatty liver disease, which includes NASH and other related diseases. Results from this study are expected in the second half of 2018. 3. Lexicon Pharmaceuticals: A mysterious move Lexicon Pharmaceuticals stock jumped 28% higher this week. Like Viking, Lexicon didn't announce any news. However, the stock's big gains didn't depend on another biotech's success. So, what was behind Lexicon's nice move this week? It's hard to say for sure. My best guess is that the stock moved higher due to a combination of two factors. One could be that investors are buying up shares in anticipation of FDA approval for Zynquista in treating type 1 diabetes plus short-sellers covering their positions. The FDA accepted the regulatory filing for Zynquista submitted by Lexicon's partner, Sanofi , on May 22. An approval decision is expected by March 22, 2019. Zynquista is expected to attain blockbuster sales levels if approved. The other potential reason behind Lexicon's gains could be that short-sellers are covering their positions . Nearly half of Lexicon's float was sold short prior to this week. Are they buys? I have liked Madrigal for several months. The latest clinical results for MGL-3196 make me an even bigger fan of this biotech stock. I'll be surprised if Madrigal doesn't get scooped up by a big drugmaker looking to bolster its NASH pipeline. Phase 2 success doesn't guarantee that MGL-3196 will perform well in phase 3 studies, but I'm optimistic about the drug's prospects. Viking Therapeutics hasn't been on my radar screen so far, but it definitely is now. I suspect that Madrigal's success opens the door for Viking to enjoy a similar run. Granted, Viking is still a risky stock. Just because its lead candidate has a similar mechanism of action as Madrigal's NASH drug doesn't mean VK2809 will be as successful as MGL-3196. However, I'm going to go out on a limb a bit and pick Viking as a stock to buy for investors who aren't afraid of high-risk and, potentially, high-reward propositions. That leaves Lexicon. If my hunch is right that we're seeing short-sellers cover their positions, Lexicon stock could move even higher. More importantly, I like the prospects for Zynquista and Xermelo, the biotech's carcinoid syndrome diarrhea drug that launched in March. My view is that Lexicon has a lot of potential that the market isn't pricing in yet. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Keith Speights 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 . || Cryptocurrency Market Continues to Fall as Bitcoin Price Seeks Support at $6,700: On previous reports, CCN emphasized that the price of bitcoin will likely fall to the higher end of the $6,000 region in the short-term. Over the past 24 hours, the bitcoin price has dropped by 2.5 percent, from $7,580 to $7,350, dipping below the $7,300 mark at one point. Lack of Momentum Throughout 2018, the bitcoin price has experienced three major corrections on February 7, April 10, and May 25. The initial correction that occurred on February 7 led the bitcoin price to drop from $19,900 to $6,100, by more than 69 percent. The second correction on April 10 prompted BTC to fall from $12,000 to $6,400, by 46 percent. The third and latest correction on May 25 led BTC to decline from $10,000 to $7,200, by 28 percent. A trend can be seen in the three major corrections BTC experienced in 2018, which is that every successive correction had smaller sell-offs and narrower correction periods. The initial correction in February lasted nearly two months, while the second and third corrections bottomed out in about a month. Following the five-month price trend of bitcoin, it is highly likely that BTC rebounds from the $6,800 mark in the short-term, initiating a strong rally in the mid to long-term. After BTC bottoms out at $6,800, the market is expected to experience an accumulation period, leading the value of BTC to increase gradually and secure momentum. Following a continuous accumulation period could be a parabolic rally, driving the value of most cryptocurrencies to grow exponentially. Despite the optimistic long-term outlook of BTC, it is important to acknowledge that both BTC and the rest of the market are in a bear cycle and the bear market will likely continue until BTC bottoms out at the higher end of the $6,000 region. Analysts including Willy Woo have shared their vision of BTC falling to the $5,000 region but unless the BTC price falls below the $6,500 mark and fails to sustain the $6,800 support level, a fall below the $6,000 mark remains unlikely. Story continues Altcoins and Tokens Trading alternative cryptocurrencies and tokens in a highly volatile period and a bear cycle is similar to leverage trading. Because tokens tend to experience intensified movements on both the upside and downside, it will follow the price trend of bitcoin but with larger price movements. Most of the tokens that have performed exceptionally well against major cryptocurrencies like bitcoin and Ethereum throughout 2018 have not been able to avoid the bear cycle. 0x, ICON, Zcash, and WanChain, which have demonstrated significant improvements and major developments in regards to scalability, long-term strategy, and technology, have seen a substantial decline over the past month. One evident trend is the lack of investors and traders willing to sell BTC and other cryptocurrencies at current levels. As such, although technical analysis points elsewhere, a fall below the $6,000 mark for bitcoin in the short-term is unlikely and the valuation of the cryptocurrency market is not expected to fall below the $300 billion region. Featured image from Shutterstock. The post Cryptocurrency Market Continues to Fall as Bitcoin Price Seeks Support at $6,700 appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin Strengthens as Cryptoassets Gain Acceptance: Week in Review Jun 4 - https://goo.gl/r4JgrQ
#Bitcoin #Crypto #News #Blockchainpic.twitter.com/xTbqOYfkAB || Buy bitcoin || An Upcoming Cryptocurrency Is Trialling a Trio of Bitcoin Tech Advances http://dlvr.it/QW2dxc pic.twitter.com/zrSq48XrJl || Remember the dark days of 2014? People were legitimately concerned Coinbase was going under. #Bitcoin || 2018/06/22（金）07:00
ビットコインの価格は740,461円だよ
https://crypto-currency-widgets.com/link/crypto.html …
#ビットコイン #bitcoin #btc $btc #価格pic.twitter.com/nmM7VxE9Ok || Japan’s GMO Launches App to Reward Gamers in Bitcoin http://j.mp/2ssHB3U || http://pumapay.io/
#Crypto #Blockchain #Crowdfunding #ether #ethereum #bitcoin #cryptocurrency #ICO #tokensale #exchangehttps://twitter.com/PumaPay/status/1003213068778819584 … || Bitcoin loses value for the 300th time, investors sweat http://dlvr.it/QWDdSG pic.twitter.com/6Of0fNkpdT || So Bitcoin means you have to trust miners completely? lol || Bitcoin (-0.09): $7,725.27
Ethereum (-0.48): $619.10
Ripple (-0.72): $0.67
Bitcoin Cash (-0.52): $1,177.79
EOS (-1.22): $14.79
Litecoin (-0.16): $126.40
Cardano (-0.53): $0.23
Stellar (-0.6): $0.31
IOTA (-5.71): $1.84
TRON (-0.48): $0.06
|
Trend: up || Prices: 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88
|
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 2021-10-28]
BTC Price: 60622.14, BTC RSI: 56.75
Gold Price: 1801.60, Gold RSI: 58.62
Oil Price: 82.81, Oil RSI: 64.17
[Random Sample of News (last 60 days)]
Hive Leads Crypto Mining Stocks Higher as Bitcoin Hits All-Time High: Crypto miners, whose shares are most levered to bitcoin prices, surged on Wednesday after the price of the largest cryptocurrency hit anall-time high, trading above $66,000 for the first time.
Canada-based bitcoin miner Hive Blockchain Technologies (HIVE), which mines in regions with cooler temperatures and uses low-cost renewable energy for its operations, was the best performer among mining stocks, rising more than 7%. Fellow miners Hut 8 Mining (HUT) and Riot Blockchain (RIOT) both saw their shares advance more than 3%, while Marathon Digital (MARA) climbed slightly.
Stronghold Digital (SDIG), a bitcoin miner billing itself as an environmentally beneficial operator with access to cheap power, wasup more than 60%from its initial public offering (IPO) price in its debut on Wednesday.
Among other crypto-related stocks, MicroStrategy (MSTR), often seen as a proxy for bitcoin because it holds so much of the digital currency on its balance sheet, climbed 5.8%, while crypto exchange Coinbase Global (COIN) gained 2.8% and Robinhood Markets (HOOD) where many users trade crypto, fell slightly. The wider S&P 500 index and the Nasdaq composite were also in the green on Wednesday.
The share prices of crypto miners, which derive most of their revenue from mining digital currencies and tend to hold as many of the minted digital coins as possible on their balance sheets, are highly correlated with the price of bitcoin. In fact, according to Wall Street firm D.A. Davidson analyst Christopher Brendler, mining stocks are about 70% correlated to the price of bitcoin.
Recently, Brendlerinitiated research coverageon bitcoin miners with a bullish outlook for the sector and named Hut 8 his top pick. “Although Hut 8 isn’t yet as scaled, we see the most earnings upside in the group thanks to a brand new, low-cost 100 MW facility (with 35 MW set to come online 4Q21 and the rest in 2022). Combined with well-timing mining rig orders to fill up this new data center and the cheap valuation, Hut is our top pick here,” Brendler said.
With more institutional investors coming into the sector and bitcoin’s continued rally, the natural question is “why buy the miners when you can buy the cryptocurrency itself?”
Jefferies analyst Jonathan Petersen answered the question in his Oct. 18 research report. “It’s a fair question, but upon exploration of the topic, we have observed that mining generally results in higher returns on multi-year periods of time,” Petersen wrote. His analysis showed that if someone bought a more recent mining computer, S19 Pro, at the end of 1Q20, when the market spot price for the machine was $2,410, a mine-and-hold strategy would return 1,083% vs buying and holding bitcoin, which would return 764%.
On top of that, if a miner has access to cheap power, the returns are even greater, he added. || US stocks rise as Evergrande fears subside and investors await Fed meeting outcome: Traders on the trading floor of the NYSE. Brendan McDermid/Reuters The Dow on Wednesday was on course to break a four-session losing streak. A bond payment by an Evergrande unit helped calm nerves about the Chinese property developer's debt crisis. The Federal Reserve will conclude its two-day policy meeting. See more stories on Insider's business page . Stocks advanced Wednesday, with investors latching onto some progress in the Evergrande debt crisis that sent global equities plummeting this week while they prepared for the Federal Reserve's policy update. The Dow Jones Industrial Average gained ground after four straight losses. The S&P 500 rose after falling in three of the past four sessions, including Monday's slide on fears about Chinese property developer Evergrande defaulting on more than $300 billion in debt. On Wednesday, Evergrande unit Hengda said would make a coupon payment and the Chinese central bank pushed about 90 billion yuan ($13.9 billion) of liquidity into the financial system. Evergrande on Thursday, however, has an interest payment due on one of its dollar bonds, which could stoke further volatility. Here's where US indexes stood at 9:30 a.m. on Wednesday: S&P 500 : 4,375.74, up 0.49% Dow Jones Industrial Average : 34,104.41, up 0.54% (184.57 points) Nasdaq Composite : 14,790.13, 0.32% The Fed will conclude its two-day policy meeting on Wednesday. The central bank's policy announcement will be accompanied by its summary of economic projections, or the so-called dot-plot chart of interest-rate expectations. "We believe that the Fed will take a very measured tone, and will not yet announce a set date for tapering to begin. The Fed is likely to leave itself room to adjust if economic conditions continue to soften," said Cheryl Smith, economist and portfolio manager at Trillium Asset Management, said in a note Wednesday. The central bank is expected to start reducing the $120 billion a month in Treasurys and mortgage-backed securities it purchases each month as it winds down stimulus measures. Story continues "Economic data, including expectations of GDP growth and payroll changes, have been softer over the last three months, and Treasury yields have been largely trendless. These factors reduce pressure on the Fed to begin its tapering process," said Smith. Federal Reserve Chairman Jerome Powell will hold a press conference at 2:30 pm Eastern Time on Thursday. Around the markets, retail investors pushed $1.9 billion into US stocks during the Evergrande-driven selloff on Monday, data from VandaTrack show, the fourth-biggest day of net purchases since the start of the pandemic. Stable coins are equivalent to "poker chips" at the casino and crypto is not a viable long-term form of private money, says SEC chief Gary Gensler. Gold declined by 0.3% to $1,773.50 per ounce. The yield on the US 10-year Treasury note edged up to 1.34%. Oil prices rose. West Texas Intermediate crude gained 1.3% to $71.39 per barrel. Brent oil , oil's international benchmark, picked up 1.3% to $75.29. Bitcoin slipped about 2%, trading near $42,300 Wednesday morning. Read the original article on Business Insider || ‘Wolf of Wall St’ Jordan Belfort joins NFT space with CryptoPunk purchase: Jordan Belfort, the now infamous ‘The Wolf of Wall Street’, has entered the NFT space in style following his $423k purchase of a CryptoPunk. The former stockbroker and entrepreneur revealed the 102.49 ETH purchase of ‘ Cryptopunk #6033 ‘ to his 600k followers, who then welcomed Belfort with open arms to the thriving NFT space. In true ‘crypto twitter’ fashion, Belfort changed his profile picture to the Punk and also said “wgmi” in his tweet – a slang term commonly used on crypto Twitter which means “We’re gonna make it”. Cryptopunk #6033 wgmi pic.twitter.com/i4e1fa0xOH — Jordan Belfort (@wolfofwallst) October 25, 2021 In a follow-up tweet , Belfort further reiterated his love for the space, saying “WOW! I LOVE NFT TWITTER! AND NOW THAT I’M HERE, I’M NOT ****ING LEAVING!”. Belfort’s interest in the NFT space seemingly started in October following a series of tweets outlining his interest in NFTs and potential collaborations with both Solana and Ethereum-based NFT projects. Since then, Belfort has ramped up his participation in the NFT space and has committed to starting his own NFT project – a collection of artwork, that is according to Belfort, “inspired by The Wolf of Wall Street movie and my life”. I’m dropping my NFT soon 🔥 here’s a first look at some of the artwork inspired by The Wolf of Wall Street movie and my life. Can you spot some of the moments we referenced? pic.twitter.com/twzMRCJc7z — Jordan Belfort (@wolfofwallst) October 20, 2021 Belfort has previously stated he owns cryptocurrencies such as Bitcoin – which he intends to ‘HODL’ until at least $100K – and considers them “ the great equalizer “. His entrance into the NFT space comes at a time when a majority of projects have seen pullbacks due to Ethereum’s pursuit of a new all-time high . Despite the pullback, CryptoPunks and other ‘blue-chip’ projects like Bored Ape Yacht Club (BAYC) have recovered well. || DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’: Last week Digital Currency Group, a crypto-industry holding company, opened its wallet to defend its Grayscale subsidiary’s Grayscale Bitcoin Trust (GBTC), when the fund’s shares traded at a 20.53% discount to its underlying bitcoin holdings – the steepest in five months.
Digital Currency Group’spledge to buyas much as $1 billion worth of GBTC shares might have represented savvy, opportunistic timing. Or it might have been a demonstration of support for the $39.45 billion GBTC, the world’s largest bitcoin fund, in the face of increasing competition.
Then, a day later, Grayscaleofficially filedwith the U.S. Securities and Exchange Commission to convert the trust into a spot-based exchange-traded fund (ETF), even though SEC Chair Gary Gensler has signaled his preference for an ETF investing in bitcoin futures. (In recent days several futures ETFs havebeen approvedin the U.S.)
Thanks to these developments, the GBTC discount between the price of the underlying bitcoin asset and the price of the trust’s shares has since narrowed to about 16%, based on data from the crypto derivatives research firm Skew.
But will it decrease further?
Perhaps, if the futures ETFs already approved by the SEC lead to approval of funds that hold actual bitcoin, Bloomberg commodities analyst Mike McGlone wrote last week. He added that perhaps the GBTC discount would evaporate if the trust was allowed to convert to an ETF.
“We see increasing pressure for the Securities and Exchange Commission to approve the GBTC ETF,” McGlone said in the market update shared with CoinDesk on Oct. 20. “Grayscale has said it’s committed to converting GBTC to an ETF. We see that as a matter of time, notably with a new digital divide opening [against] China, which may make bitcoin and crypto success a vested interest of the U.S.”
However, other analysts talking to CoinDesk last week disagree, saying the price discrepancy will likely persist for the foreseeable future.
“Any announcements about purchasing GBTC on the open market, or signaling towards an ETF conversion, are just empty promises in an attempt to bring in arbitrageurs and likely will not have much impact,” Jeff Dorman, CIO at Arca Funds, told CoinDesk in an email. “I don’t think the discount will close any time soon and probably should widen.”
DCG, which also owns CoinDesk as an independent subsidiary, said it would buy much as $1 billion worth of GBTC, up from a prior authorization of $750 million. As of Oct. 19, DCG had already purchased $388 million worth of shares, according to the press release dated Oct. 20. DCG declined to comment on the issue.
Grayscale allows investors to gain exposure to bitcoin through shares in the trust, which currently holds647,540 BTC, according tobybt.com. That amounts to around 3% of the cryptocurrency’s circulating supply.
GBTC shares are derivatives of bitcoin and, in theory, should closely track the cryptocurrency’s price. So a substantial discount or premium is an opportunity for arbitrageurs – traders exploiting price discrepancies – to make money.
For example, with shares currently trading at a discount of 16% at press time, an arbitrageur expecting the price discrepancy to narrow would buy GBTC shares in the secondary market and simultaneously sell bitcoin in the spot market. The market-neutral position would yield 16% returns if shares in GBTC converge with the spot price. An arbitrageur can also hedge the long GBTC trade with a short position in the futures market, in which case, the return would be higher as futures usually trade at a premium to the spot price and converge with the spot price on expiry.
“The ability to buy GBTC and short futures and get exposure to bitcoin with about a 25% price advantage should continue to attract arbitrage, reduce volatility and narrow spreads,” Bloomberg’s McGlone said on Oct. 20, when the discount was over 20% and the six-month futures contract was drawing a premium of 4%.
Grayscale Investments LLC recentlyfiledthe regulatory documents to convert the bitcoin trust into a spot-based ETF. A spot-based ETF would allow for more continual creation and redemption of new shares by market makers, so ostensibly it would track bitcoin’s price more closely than the current trust structure. Thus, it could be a big hit on Wall Street.
“The trust is desperate to return to par value, and I think they will need to in some manner,” Ben Lilly, a crypto economist at Jarvis Labs, said. “At a 17% discount, I find it attractive.”
According to Arca’s Dorman, traders may be less inclined to “arb away” the discount solely on the assumption that Grayscale’s plan to convert the trust into an ETF would win approval; that currently appears to be a low-probability event, in his view. Besides, traders can nearly earn double-digit returns via other strategies that appear relatively less risky.
Said Dorman: “Buying GBTC for that 17% discount is the equivalent of buying a 0% coupon, two-year bond at 83 cents on the dollar (not including Grayscale’s 2% management fee, which makes it even less attractive to own). That is a 9.5% annual yield, roughly equivalent to what you can earn lending a stablecoin right now – the ‘risk-free rate’ in digital assets. As such, GBTC is not a very attractive instrument to own.”
The prospect of the SEC reversing its stance and approving Grayscale’s plan to convert into a spot-based ETF strikes some observers as unlikely in the near future.
“The idea of turning the trust into an ETF was to close the discount in the open market,” said Kevin Kang, founding principal of BKCoin Capital. “However, with the SEC chair only mentioning that he was comfortable with the futures-based ETFs, I am not sure when that will happen.”
Says Laurent Kssis, director of CEC Capital and former managing director of exchange-traded products (ETP) at 21Shares: “You just don’t shift a closed-end fund into an open-ended structure overnight in the U.S.”
“Just like with European crypto issuers, I see a new ETF program being filed (previously closed-end structure) and introduced, marking a new era for Grayscale,” Ksiss told CoinDesk in a Telegram chat.
Dorman said he was skeptical that Grayscale would willingly forgo its management fees from the Grayscale trust, estimated at $800 million a year.
“If they convert to an ETF, that guaranteed revenue goes away, and they immediately enter an oversaturated race where fees will trend towards 0%, and they will be competing against companies with bigger, better brands than themselves. That’s a formula for failure,” Dorman said. “They are better off being hated by their investors but generating perpetual fees. Why voluntarily destroy the greatest business model in history?”
According toan Oct. 20Twitter threadby Messari’s Ryan Selkis, DCG’s plans to expand purchases is a “PR stunt to make unwitting investors think DCG can close” the GBTC discount, which is “impossible given the size of the trust.”
But he says it may be hard for Gensler, the SEC chair, to argue that preventing GBTC from converting to a spot ETF would fall under the rubric of “investor protection” because it comes at “the expense of of shareholders,” Selkis wrote. If the trust were allowed to convert to an ETF, the fund’s shares would probably trade back close to the value of the underlying bitcoin. In other words, the Grayscale discount would go away.
While in ETFs, specialized traders known as authorized participants create and redeem shares to keep their price in line with the net asset value; that process is not available with Grayscale’s Bitcoin Trust.
The vehicle can only create a basket of shares, offer liquidity underRule 144resales, and cannot provide a redemption program – meaning shares can only be created and not destroyed. (In 2016, the SEC slapped Grayscale for offering redemptions.)
For several years, Grayscale’s Bitcoin Trust was the only credible option for institutions to get exposure to bitcoin without buying the digital asset directly. That led to a steep premium on its shares in the secondary market. The persistent premium provided a strong incentive for accredited investors to buy GBTC at its net asset value by depositing bitcoin to capture the spread six months later. The premium reached as high as 40% in December last year.
According to the crypto derivatives research firm Skew, the premium wasthe function of“exposure to bitcoin in a regulated vehicle without having to deal with the challenges of custody, eligibility to some tax-efficient schemes, strong distribution through regular brokerage accounts, lack of alternatives such as an ETF.”
However, with the advent of the spot-based ETFs in Europe and Canada early this year, the demand for GBTC weakened, and the premium flipped to discount in the first quarter, killing the so-called Grayscale carry trade.
The number of options available to gain exposure to bitcoin has only increased with the launch ofProShares Bitcoin Strategy ETFandValkyrie’s ETFlast week. Both products invest in the CME-based bitcoin futures contracts in a bid to replicate the cryptocurrency’s performance.
“I don’t foresee any improvement in the performance levels of GBTC to its discounted rate as anticipated institutional-grade crypto products are coming to the market,” CEC Capital’s Kssis said. || The minimum price of a Cool Cat NFT is now $33k… and rising: The floor price of the Cool Cat NFT collection has increased by 30% to more than 10 Ethereum in the past week as buyers continue to flood into the burgeoning NFT space. Cool Cats have long been a favourite in the NFT space due to their vibrant artwork and friendly, engaging Discord and Twitter communities, with many holders choosing to use their Cool Cat as a profile picture (PFP). The collection is now the third generative PFP collection – a collection that typically has 10,000 unique NFTs – to reach the 10 ETH price floor milestone behind CryptoPunks and Bored Ape Yacht Club, which are considered to be the leading ‘blue-chip’ projects in the NFT space. Cool Cats Developer ‘xtremetom’ celebrated the milestone on Twitter while other members of the Cool Cats team comedically celebrated with a commemorative “ milk chug “. It happened. @coolcatsnft is the 3rd 10k generative NFT to hit a 10E floor 🎂🥂🙌🎈🥳🎂 pic.twitter.com/WeC6eR2Qb5 — xtremetom 🆒😺 (@xtremetom) September 26, 2021 Data from OpenSea shows that Cool Cats has reached almost 7k ETH in volume in the past seven days and has now overtaken Bored Ape Yacht Club (BAYC) in the weekly rankings. Additional data from Coingecko also shows the growth of Cool Cats over the course of the past 30 days, with the floor price – the minimum an NFT can be bought for – increasing from 2.8 ETH on August 27 to the current floor price of 10.75 ETH ($33k). A number of record sales have also been seen in the past week for the highly collectable TV Heads . The record purchase of a Cool Cat was made by crypto wallet provider and prominent NFT collector CoinUnited who bought one of nine incredibly scarce ‘hidden cats’ for 110 ETH. Story continues We are so glad to land the coolest Cool Cat at https://t.co/XfBmsMC5Dk ! We took him home at the cost of 110 ETH (~350,000 USD). Welcome aboard to our big family, Cool Cat #3330 ! Check our new family member here: https://t.co/fBkgN7ynmU #Bitcoin #nft #coolcats #ethereum pic.twitter.com/7AN8TtgiVW — CoinUnited.io (@realCoinUnited) August 21, 2021 Cool Cats have attracted a number of high-profile buyers – including Steve Aoki, who purchased a Bob Ross TV head cat, and Mike Tyson . Leading NFT investor and “Cool Cats Maxi’ Farokh also owns a collection of 17 Cool Cats, including two TV Heads and his highly sought-after Afro Rainbow Unicorn cat, which he proudly wears as his PFP. He also recently called Cool Cats “the Pokémon of Web3”, referring to their collectable nature and important role in onboarding and attracting new buyers to the Web3 and NFT spaces. Cool Cats are the Pokémon of Web3. Yes, Pokémon can and will come into the NFT space, but the Cool Cats are born from it, and that is their competitive advantage. — Farokh.eth LOVES THE CATS (@farokh) September 26, 2021 The upcoming introduction of NFT verification on Twitter also brings an added incentive to Cool Cat holders – access to the Cool Cats community through verifiable ownership and the opportunity to ‘flex’ their rare cats in a friendly, engaging environment. The collection also continues to spawn derivatives including the 24px collection and Cool Cats Collabs – a set that teases an upcoming collaboration with TIME Magzine . The president of TIME Magazine, Keith Grossman , has been a long-time supporter of Cool Cats and even wears a teaser PFP that features a group of Cool Cats on the front of the magazine. || Cryptos continue to fly high after launch of first-ever bitcoin ETF: The $72,500 and then the $89,000 levels are near-term resistance levels north of $65,000 for bitcoin. Photo: Getty (Andriy Onufriyenko via Getty Images) Cryptocurrencies were broadly higher on Monday as the week is off to a promising start for bitcoin, which hit a new all-time high last week. Bitcoin ( BTC-USD ) was up 3.7% to trade at $62,876 (£45,665). It is sitting comfortably above $60,000, having crossed $66,000 last week. Ethereum ( ETH-USD ), the world’s second largest crypto by market cap, was up 0.4% to trade at $4,132. Bitcoin’s upward trajectory began when investors become confident that the US Securities and Exchange Commission (SEC) will approve the launch of an exchange-traded fund (ETF) based on the crypto’s futures contracts. Watch: What is bitcoin? Days later, the first-ever bitcoin futures ETF in the US — The ProShares Bitcoin Strategy ETF which tracks CME bitcoin futures — made its debut on the New York Stock Exchange ( ^AMZI ). "The cryptocurrency market is again on track to outshine the ever-vibrant equities... the large part of the gains have been propelled by the US SEC’s nod to introduce bitcoin ETF, effectively increasing the market participation with a launch of a new product on a conventional stock exchange," said Kunal Sawhney, CEO of Kalkine Group. Bitcoin was up on Monday morning. Chart: Yahoo Finance UK Meanwhile, Naeem Aslam, chief market analyst at Ava Trade, said: "The introduction of bitcoin-linked ETFs has been extremely beneficial to the cryptocurrency markets" and more money is flowing into the digital sector as more investors gain access to ETFs. The $72,500 and then the $89,000 levels are near-term resistance levels north of $65,000, Aslam said, adding that bitcoin is aiming for $100,000, which it could well het by the end of the year. “On the other hand, while bulls are on the rise, investors should keep in mind that countries remain divided in the blockchain space, with Beijing outlawing cryptocurrencies while Western nations launch ETFs and push digital coins to new highs,” he added. He believes one disadvantage of the recent price hike is that bitcoin miners are relocating to the US to establish their operations at a time when the world is undergoing an energy crisis. Story continues This is likely to put pressure on electricity prices, as was the case in New York, where the city supplied between 10% and 15% of its electricity supply to miners, putting a strain on the grid, he said. Meme token Shiba Inu ( SHIB-USD ) has also been making news. Read more: Elon Musk reveals his crypto buys It had rallied by more than 50% to hit an all-time high of $0.000044 on Sunday, becoming the eleventh biggest cryptocurrency in the market. "A market-wide buying has been seen in many crypto-assets with the meme coin shiba inu rallying 50%, capturing a market capitalisation of approximately $21bn after it added a fresh bouquet of 1 million traders in the past week," said Sawhney. He said investors are seemingly accumulating cryptocurrencies, "at a time when a section of heavyweight corporations report better-than-expected quarterly results." With the per unit price of bitcoin scaling fresh all-time highs, now and then, the retail section of investors has turned focus on emerging crypto-assets." Shiba Inu took a bit of a hit, though, when Tesla ( TSLA ) CEO Elon Musk said he had not invested in the token. He instead reiterated his support for dogecoin ( DOGE-USD ), which was up roughly 7%. Watch: What are the risks of investing in cryptocurrency? || Understanding Zero-Knowledge Proofs: Keeping Sensitive Data Private in the Blockchain: Photo byClint AdaironUnsplash
The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
The advent ofblockchaintechnology has brought with it a myriad of benefits. Having a public, immutable ledger, agreed upon by everyone in the network, allows for all sorts of applications, from the transfer of wealth between individuals to tracking ownership of digital art. However, because the ledger is public, privacy is sacrificed. Depending on the application, this is not always an issue, but for others the ramifications are large. Some platforms have attempted to solve this issue.
One crypto that is attempting to use time to solve problems isAnalog(ANLOG). The cryptography underlying Analog relies on what is known as a zero-knowledge proof, distinctly different from the protocol used by other cryptocurrencies likeBitcoin(BTC) orDogecoin(DOGE). It uses a protocol called zk-SNARKs, or zero-knowledge succinct noninteractive argument of knowledge, first popularized by Zcash. In broad terms, this means that data can be encrypted, agreed upon, verified, and added to theblockchainwithout the data itself being exposed to anyone.
Take a look at each term to better understand zk-SNARKs:
• Argument of knowledge:Using math, specifically cryptography, a prover can prove to a verifier that they know something for certain. And the verifier can say this is definitively true. This is at the basis of all blockchains.
• Zero knowledge:This means that the verifier has no access to the thing the prover is proving, so the data stays private.
• Succinct:The math involved can be done quickly.
• Noninteractive:Only a single communication from prover to verifier needs to happen for the data to be verified. Earlier iterations of zero-knowledge proofs needed multiple rounds of communication between prover and verifier.
As a metaphor, let’s consider the children’s book “Where’s Waldo?”. Imagine you wanted to prove to your friends you knew where Waldo is without revealing where in the picture you see him or anything else about the scene. You could take a large sheet of paper — larger than the picture — and cut a hole just big enough for waldo. If you showed this to your friends, they could verify you knew where Waldo is but would have no idea where in the picture he was or what the rest of the scene looked like.
Analog uses this technology to create what it calls the Timechain, an immutable, indexable, ledger of time and events while protecting the private data of those involved. One thought-experimental that Analog likes to use is to imagine you have a package being delivered byFedEx Corp.(NYSE:FDX). The delivery involves a lot of private data about you that you would not want publicly broadcasted, like your name, address, access code, maybe even credit card number. With Analog’s Timechain, data should never be exposed.
According to Analog, this will allow for the communication of critical information between people and organizations relevant to time — hospital schedules, military operations, critical building maintenance — while maintaining privacy and safeguarding sensitive information.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The ISS is cracked and facing irreparable failures and they could be about to get much worse: The International Space Station has been orbiting the Earth since 1998 and continuously inhabited since 2000 (Nasa) Ever since the Expedition 1 flight crew floated aboard the International Space Station (ISS) on 2 November 2000, humans have had a continuous presence in space. The ISS was only meant to last for 15 years, but more than two decades later it continues to operate as an orbiting lab for a multinational consortium of space agencies. With several years still left to serve, officials this week warned that new cracks in one of the modules and outdated equipment could soon result in irreparable damage that may lead to early abandonment and destruction. The newly discovered cracks on the Zarya module, which is the oldest part of the space station and nowadays only used for storing Russian equipment, could begin to spread over time, according to Vladimir Solovyov, a prominent Russian rocket engineer. As a microgravity laboratory largely unprotected by the Earths atmosphere, the ISS has proved useful in understanding ways to survive and live self-sufficiently on other planets. Scientists have learned how to grow plants, identified unknown space microbes, and devised methods to combat muscle atrophy and bone loss. Winemakers in France even sent up a dozen bottles of Bordeaux to understand how the taste would change with the absence of gravity. (It apparently tasted beautiful .) But unfortunately, unlike a fine wine, the ISS is getting worse with age. Solovyov previously warned that an avalanche of issues will beset the ISS from 2025 due to ageing equipment and hardware. The severity of the new cracks is not yet known but it is only the latest in a series of problems plaguing the craft, with previous cracks resulting in air leaks and pressure drops that posed a serious hazard to those living and working onboard. Roscosmos, Russias space agency, is only contracted to remain with the ISS until 2024, which was the date set by Nasa in 2014 to retire the space station. That date has since been pushed back to a hopeful 2030, though it appears uncertain that it will be able to hold together that long. Story continues Literally a day after the [in-flight] systems are fully exhausted, irreparable failures may begin, Solovyov said this week. In March, Nasa official Phil McAlister warned that the ISS could experience an unrecoverable anomaly at any time, and that a responsible handover to private and commercial enterprises would begin later this decade. With the likes of Boeing and SpaceX keen on using the platform for its own endeavours, the question will be what comes next. After the ISS reaches the end of its life and has to be thrust out of orbit to burn up in the atmosphere and shower debris into the Pacific Ocean, humankinds most prolonged presence in space could finally come to an end. We expect to expand the space station as a government project all the way to 2030, Nasa administrator Bill Nelson said at the 36th space symposium last week. And we hope it will be followed by commercial stations. Private firms like SpaceX have longer-term plans to venture even further into space by setting up bases and colonies on the moon and Mars, while Nasa risks losing its foothold in low-Earth orbit and with it, its position as the worlds foremost space power. China is already working on its own space station, while Russia also announced plans last month to build and operate its own orbiting lab from 2030. The two countries have also signed an agreement to jointly develop a lunar base, and have invited the European Space Agency to cooperate with them. Nasa is forbidden from even opening up discussions with China to pursue a space venture due to a 2011 law that bans the space agency from collaborating with US geopolitical rivals. Roscosmos has also criticised the US for imposing sanctions against the Russian space industry, meaning the end of the ISS could be the end of Nasas meaningful international collaboration in space for the foreseeable future. Read More Cracks discovered on International Space Station prompt fears for astronauts safety Nasa forced to take emergency action at International Space Station after module goes out of control Bitcoin rivals on record-breaking price runs follow live Strava now lets people follow runners and cyclists for free Twitter adds new Safety Mode || Buying Bitcoins With ATMs? Kraken Says It Is Not As Secure As You Think: Many people are used to buying and selling Bitcoin using Bitcoin ATMs. However, a new report suggests that doing so might not be as safe as people assume. Kraken Reports Vulnerabilities In Widely Used Bitcoin ATMs The cryptocurrency market has experienced tremendous growth over the past few years. In the past, people only gained access to cryptocurrencies via centralized crypto exchanges. However, thanks to growth and innovation, people now have access to cryptos via a wide range of means. One of the popular ways people buy and sell cryptocurrencies is via Bitcoin ATMs. There are currently thousands of Bitcoin ATMs in the United States alone. According to Coinatmradar , the United States has more than 24,000 Bitcoin ATMs. Despite their popularity, they might not be apparently safe for people to use. In a new report by Kraken Security Labs , the security arm of crypto exchange Kraken, said there are vulnerabilities in commonly used Bitcoin ATMs across the United States. The Kraken Security Labs said the Bitcoin ATMs manufactured by General Bytes has some flaws. The team said, “Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine.” The team further added that most of the Bitcoin ATMs were configured with the same default admin QR code. This is a flaw that anyone with the QR code can walk up to a Bitcoin ATM and compromise it. Furthermore, the team said it found that there are no secure boot mechanisms. There are other critical flaws in the ATM management system. The Kraken security team went on to suggest ways people can use the Bitcoin ATMs safely. The team advised users to locate and use crypto ATMs in locations they trust and ensure the ATMs have perimeter security, like surveillance cameras. BTC/USD chart. Source: FXEMPIRE Bitcoin Holds Price Above $43k The leading cryptocurrency has managed to hold its price above the $43k mark over the past few hours. BTC was trading just above the $41k earlier this week, but it is now up by more than 2% in the past few hours. Story continues If the current rally is sustained, BTC could rally above the $45k resistance level over the coming hours and days. This article was originally posted on FX Empire More From FXEMPIRE: E-mini S&P 500 Index (ES) Futures Technical Analysis – Trader Reaction to 4328.25 Sets Tone into Close Natural Gas Price Forecast – Natural Gas Markets Continue to Test Gravity GBP/JPY Price Forecast – British Pound Continues Consolidation Why Bed Bath & Beyond Stock Is Down By 25% Today Argentina’s Top Football club, Boca Juniors Go Crypto The Shares Of Bed Bath & Beyond Dips As Supply Chain Issues Affects Sales || Global computer usage produces twice the greenhouse gases as the aviation industry: Bitcoin Global computer usage produces twice the greenhouse gases as the aviation industry, new analysis suggests. Figures from Lancaster University reveal emissions from computing account for almost four per cent of all greenhouse gases spewed into the atmosphere, compared to two per cent for air travel. Previous studies had claimed that computing’s share of global emissions was between 1.8 and 2.8 per cent, however the researchers of the new paper say this was an underestimate. In their review, they combed through three studies, interviewed the authors and also spoke to experts, and developed a more complete, robust view of the entire information and communications technology (ICT) industry. The study includes the lifecycle emissions of various devices, including phones, laptops, cameras, smart watches, headphones, games consoles and speakers. It also looked at the carbon footprint of data centres, local networks and television. Previous estimates did not account for how much energy was required to make computers, the researchers say, as well as failing to account for the carbon footprint of the manufacturers’ supply chains, energy consumption while using the product, and the environmental costs of disposing of computers. It has been said previously that the technological advances made possible by computing will outweigh the industry’s direct emissions, but the researchers claim this is false. And, they warn, emissions from computing are growing as demand continues to increase. Power-hungry processes like Bitcoin mining , for example, require huge amounts of electricity and are responsible for an ever-increasing percentage of global emissions. “We know that ICT has an ever growing role in society and brings efficiencies to almost every corner of the global economy,” said study co-author Prof Mike Berners-Lee, professor of social futures at Lancaster University, director of Small World Consulting, and brother of Tim, the inventor of the World Wide Web. Story continues “But it’s relationship to carbon reduction may not be as straightforward as many people assume. Our work tries to shine a bit more light on that important question.” The academics say that ICT organisations should have legally binding net zero targets and unprecedented coordination is needed to reach the net zero goal by 2050. They warn that if left unchecked, the current tech-obsessed world will see the ICT industry’s greenhouse gas emissions increase exponentially. Dr Kelly Widdicks co-author of the study from Lancaster University said: “Much more needs to be done by the ICT sector to understand and mitigate its footprint, beyond focusing on a transition to renewables and voluntary carbon reduction targets. “We need a comprehensive evidence base of ICT’s environmental impacts as well as mechanisms to ensure the responsible design of technology that is in-line with the Paris Agreement.”
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-04-24]
BTC Price: 5464.87, BTC RSI: 69.99
Gold Price: 1275.50, Gold RSI: 40.92
Oil Price: 65.89, Oil RSI: 70.39
[Random Sample of News (last 60 days)]
The Mueller Report: Trump Survives to Fight another Day: It’s been a long time coming, but after a lengthy investigation into the U.S administration’s presidential campaign, Trump lives to fight another day. Special Counsel Robert Mueller investigated the U.S administration for what felt like years. The markets even gave up on the report. A lack of an interview with the U.S president throughout the investigation did raise some eyebrows, however. “No Collusion, No Obstruction, Complete and Total Exoneration. Keep America Great!” was President Trump’s Tweet to the news. One does wonder whether there were any hot under the collar moments. After all, the investigation didn’t come without its victims… Who Went Down The investigation led to Robert Mueller handing out jail sentences like hot dinners… Top of the food tree was a jail sentence for Trump’s campaign chairman Paul Manafort. Others who pled guilty, included Michael Cohen, Michael Flynn, George Papadopoulos, Richard Pinedo, Alex van der Zwaan, and Rick Gates. The nature of the criminal findings will no doubt question the validity of Mueller’s findings. Trump and the administration will be delighted, however, and rightly so. Too many people went to jail and an even larger number were charged by the special counsel. Not even one slip of the tongue. The final high profile case that remains is against Roger Stone. As a long-time Trump adviser, Mueller charged Stone with obstruction, lying to Congress and witness tampering. Well, the President didn’t get his hands dirty, but his team certainly did. The Aftershock Needless to say, the Democrats were less than amused. As is the case in any criminal investigation, beyond a reasonable doubt is the line that needs to be crossed. A lack of evidence was attributed to the Mueller report conclusions. Interestingly, Rudy Giuliani said that the report was better than he had expected… Almost 2-years of investigations and 2,800 subpoenas, not to mention the man hours, search warrants and interviews, delivered zip. Story continues 2020 The showdown between Trump and Bernie Sanders is now on for 2020. Hillary Clinton managed to scupper Sanders’ chances last time around and, while Oprah Winfrey is in the fray this time around, the Democrat’s chances are looking slim… Too many candidates will be in favor of a 2nd republican term unless Trump tanks the U.S economy with his trade war. Not completely implausible considering the recent spate of disappointing stats out of the U.S and the FED’s shift on monetary policy. For now, geopolitical risk is off the table, on Capitol Hill at least. Onwards and upwards. At the time of writing the future markets were in the green, though it remains to be seen whether they can hold on… This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar The Weekly Wrap – Brexit, the FED and Economic Data Drove the Majors Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 24/03/19 Natural Gas Price Fundamental Weekly Forecast – Will Traders Defend the Range, or Continue to Exert Downside Pressure? The Week Ahead – Brexit, Trade Talks, the Mueller Report and Stats in Focus Study Shows Majority of Bitcoin Trading is Fairy Dust || Satoshi’s Treasure: The Chase Is on for a $1 Million Bitcoin Prize: A treasure hunt for $1 million worth of bitcoin is officially underway.
In a cryptic, rambling message broadcasted to theBlockstream Satelliteon April 13, 2019, an anonymous userchallengedthe rest of the Bitcoin community to a million dollar hunt for what they called “Satoshi’s Treasure,” a contest which will “test the resolve, courage, intelligence, and savvy [sic] of would-be hunters,” the game master claimed. At the current exchange rate, the contest’s award is roughly 198 BTC.
“This message should reach you at the middle of the fourth month of your calendar year, in the year 2019,” the message read. “If you are reading this, something has led you to search for things which bring excitement to an otherwise predictable world.”
According to the message, the anonymous broadcaster plans to provide clues to the reward on the websitesatoshistreasure.xyz, but the initial correspondence pointed to the first three key fragments that will be revealed in the coming days.
“What you are reading is the first clue in a grand Hunt,” according to the message. “It is not the first Hunt, nor of course will it be the last one, but the hunt is MINE, and so it is to me that you must prove yourself.”
The message proceeds to lay out the ground rules in some pretty enigmatic terms, and its final prize, “neither gold, nor jewels, nor the pieces of worthless paper that pass for money in this sad age,” it emphasizes, will go to “the most successful Hunters and their clan.”
The game master fractured the final million dollar bitcoinucopia into one thousand pieces, using the “splitting magic of the wizard Shamir.” Treasure hunters must find 400 of these pieces and use Shamir’s “spell of recombination” to seize the hoard of digital gold.
“Once you have done so, the treasure will be irrevocably yours,” the message proclaimed.
While the reference to Shamir might sound like a character from Magic: The Gathering or Dungeons & Dragons, it’s actually a reference to Israeli cryptographerAdi Shamir, who invented thesecret key sharing mechanismthat the game master’s hunt is likely employing to split the bitcoin stash’s private key into multiple shards.
The first three keys referenced in the initial message will be revealed on April 16, April 17 and April 18, 2019, at three provided geographic coordinates at noon in their respective time zones.
Satoshi’s Treasure enters a tradition of similar puzzles and games whereby anonymous enthusiasts — whether by virtue of generosity, curiosity, boredom or all three — embed reference to bitcoin private keys in art, pictures or other forms of media. The most recent of thesetook place in France, when $1,000 worth of bitcoin was hidden inside a recreation of the famous “Liberty Leading the People.” Perhaps the most famous example of such puzzles,The Legend of Satoshi Nakamoto, was cracked in early 2018 after stumping would-be solvers for three years.
This article originally appeared onBitcoin Magazine. || TRON prohibits gambling DApps for the Japanese market in an effort to comply with local regulations: The TRON Foundation has issued a statement explaining that it aims to abide by local laws and regulations, particularly focusing on Japan and its anti-gambling policies. In an effort to conform with Japanese laws and regulations which forbid gambling in Japan, TRON states it does not encourage or recommend any gambling DApps regarding the Japanese market. It also discourages Japanese DApp developers from developing any gambling DApps for the platform. It also suggests developers working on gambling apps should block users with Japanese IP addresses. TRON will collaborate with Japanese government and provide necessary support if any TRON DApps violate Japanese laws and regulations, TRON wrote in the statement. This statement is particularly contrasting to Justin Sun, CEO of TRON Foundation, saying that TRON performs way better than Bitcoin and Ethereum in terms of decentralization. View comments || Bitcoin Rally Coming: Crypto Bear Market Ended in Jan 2018, Says Analyst: On Friday, economist and global markets analyst Alex Krüger said that the crypto bear market has been over for more than three months and if bitcoin breaks out of the $4,200 resistance level, it will mark the end of the 15-month bear trend.
“The crypto bear market has been over for three months now. BTC breaking above 4200 will mark the end of the bear trend that started in January 2018. Going to miss this big fellow,” Krüger said.
The bitcoin price has remained relatively stable in the $3,400 to $4,000 region in the past 3 months (source: coinmarketcap.com)
Throughout the past three months, the bitcoin price has remained in a relatively tight range between $3,400 to $4,000. For most of the last 90 days, bitcoin has remained at around $3,800, unable to cleanly breach key resistance levels above $4,000.
According to Krüger, whether the bear trend of bitcoin which began in early January 2018 could end as the dominant cryptocurrency reaches $4,200 is not up for debate.
Technically, when an asset experiences consecutive lower lows and breaks above previous lows with a higher low movement, it signals the end of the bear trend.
However, the projection of the bitcoin price escaping its 15-month bear trend is conditional in that it still has to break out of the $4,200 resistance level to confirm.
Read the full story on CCN.com. || Impressive Streaks Inside Mid-Cap Dividend ETF ‘REGL’: This article was originally published on ETFTrends.com. Many investors large-cap stocks are the best ideas for dividends, particularly when it comes to consistent dividend growth. After all, there are large-cap dividend exchange traded funds (ETFs) that require companies to have minimum dividend increase streaks of 10, 20 or even 25 years. As proven by the ProShares S&P MidCap 400 Dividend Aristocrats ETF (CBOE: REGL) , mid-cap funds can play that game and play it well. REGL, which recently turned four years old, follows the S&P MidCap 400 Dividend Aristocrats Index. That is the dividend aristocrats offshoot of the widely followed S&P MidCap 400 Index. REGL’s components, which currently number 52, are required to have minimum dividend increase streaks of 15 years. Regardless of market cap spectrum, dividend increase streaks of 15 years are impressive, but many of REGL's holdings far exceed the ETF's minimum threshold for inclusion. Long Traditions A recent breakdown of REGL's holdings by length of dividend increase streaks indicate seven of the fund's components have boosted payouts for 45 or more consecutive years. Two of those stocks are utilities names and another two hail from the consumer staples sector. Those sectors combine for more than 23% of REGL's weight. Nine of REGL's member firms have dividend increase streaks of 35 years to 44 years. A third of those names are industrial stocks. That sector is the ETF's second-largest sector weight at 19.51%. Fourteen of REGL's holdings have dividend increase streaks ranging from 25 years to 34 years. Five of those 14 stocks are financials services names. That sector is REGL's largest sector exposure at 26.68%. A minimum dividend increase streak of 25 years is important because that is the requirement for entry into REGL's large-cap cousin, the ProShares S&P 500 Aristocrats ETF (CBOE: NOBL) , indicating that if some of REGL's holdings eventually matriculate to large-cap status, those stocks could reside in NOBL's underlying index. Twenty-two of REGL's holdings have dividend increase streaks of 15 to 24 years, indicating that some of the fund's holdings are recent additions while others are fast approaching a quarter century of boosting dividends. REGL has a dividend yield of 1.86%, or 67 basis points above the yield on the S&P MidCap 400 Index. For more information on middle capitalization stocks, visit our mid-cap category . Have you signed up for the ETF Trends Virtual Summit on Wednesday, April 17? It's complimentary for financial advisors (earn up to 5 CE Credits)! Register now to learn about alternative and thematic tools to better diversify client portfolios . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM Story continues SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > View comments || Bitcoin Price Analysis: Bullish Rejection Wipes Out Bitcoin’s Weekend Gains: Over the weekend, a strong rally was stifled by an even stronger rejection as the bitcoin market was shoved into a band of overhanging resistance. This band of resistance has been mentioned several times in our analyses over the last few weeks as it has proven impossible to overcome for the time being:
Figure 1: BTC-USD, Daily Candles, Failed Breakout
This run to the low $4,000s coincided with a breakout of a rather large symmetrical triangle consolidation shown above. It managed to establish a new, local high but was immediately rejected on high volume and very high spread. This rejection formed a candle called a “bearish engulfing candle” that completely wiped out a week and a half’s worth of gains in just a couple hours.
This rejection should not be underestimated as it represents a failed consolidation. Patterns that break out and see 100% retracements to the breakout point often are signs of a potentially strong market reversal. In our case, it would be a reversal of our local uptrend.
This rally represents a third failure to break our bearish market structure and likely means we will be visiting the low $3,000s to test support/demand once again. Sitting just below our current market low is a strong, macro support level that could see a test if the demand is weak:
Figure 2: BTC-USD, Weekly Candles, Macro Support Level
A test of the zone between $2,900 and $3,100 almost seems inevitable, given the amount of failed rallies and constant supply surfacing in the low $4,000s. However, if we manage to continue the uptrend, the milestone we must keep an eye out for is a daily close above the $4,250 level shown in Figure 1. A close above that level will represent the first higher high since we bottomed at $3,100.
For now, the market structure remains bearish as we continue the trend of lower highs. The rallies are becoming weaker and the supply is drowning the remaining demand toward the top of our trading range:
Figure 3: BTC-USD, Daily Candles, High Volume Rejections
When looking at the health of these rallies, it becomes apparent that the efforts vs. results of the rallies are lopsided. We see a high amount of effort by the bulls to move the price and a relatively low amount of effort from the bears to wipe out days’ worth of progress.
If we manage to retest the bottom of the trading range, we will gather more evidence as the market tests the strength of the demand. For now, it appears the bulls are running out of steam. As mentioned earlier, if we manage to continue the uptrend, keep an eye out for the $4,250 level, as a close above it will show a break in the currently bearish market structure.
1. Over the weekend, a strong round of selling wiped out a week and a half’s worth of buying pressure.
2. The selling coincided with a failed symmetrical triangle breakout — this often leads to power market reversals.
3. Bullish pressure seems to be waning as every attempted rally is quickly dispatched by strong bearish pressure.
Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc related sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
This article originally appeared onBitcoin Magazine. || South Koreas Coinbin Files for Bankruptcy With $26 Mln Loss, Cites Employee Embezzlement: Coinbin, the South Korean cryptocurrency exchange that took over hacked exchange Youbit, has filed for bankruptcy owing users almost $30 million, correspondence from the company confirmed on Feb. 20. Coinbin, which acquired Youbit in 2017, is closing operations as the result of embezzlement from a senior executive, local media including English-language resource Business Korea subsequently reported. We are preparing to file for bankruptcy due to a rise in debt following an employees embezzlement, the publication quoted CEO Park Chan-kyu as saying. According to available information, the figure in charge of cryptocurrency management is at the center of the scandal, having previously served as CEO of Youbit. The latter ceased to exist in December 2017 after two major hacks made operations no longer possible. The executive, known as Lee, reportedly appropriated the private keys of several hundred Bitcoin (BTC) wallets , while claiming to lose the key for an Ethereum (ETH) wallet containing 100 ETH. The total funds missing currently amount to 29.3 billion won ($26 million), of which 2.3 billion ($2 million) is reported as lost. The revelations come as the cryptocurrency industry is already digesting the fallout from another exchange shutdown, Canadas QuadrigaCX . Currently the focus of legal proceedings and numerous rumors following the death of its CEO in December 2018, Quadriga owes its users around $190 million in crypto and fiat currency . Related Articles: Bitfinexs Stolen Funds Partially Recovered and Returned by US Law Enforcement Cryptopia Wont Resume Trading Until Balances Are Secure, Discord Message Notes Canadian Banks Wary of QuadrigaCX Assets Origins, Cite Money Laundering Concerns FBI Solicits Information From Bitconnect Investors With Voluntary Questionnaire || Elon Musk Reveals His Favorite Crypto – Hint: It’s Not Bitcoin: Billionaire Elon Musk has a favorite cryptocurrency — Dogecoin (DOGE). We knew Musk was a fan of crypto after he touted thebrillianceof bitcoin, suggesting paper money would eventually disappear. His preference for Dogecoin comes as a welcome surprise and has emboldened the meme-happy community.
After months of the crypto community trying toget Musk’s attentionwith the BTC Lightning Torch, the Tesla founder finally took the bait, only it wasn’tbitcoin. Musk responded to an April Fools’ Dogecoin poll in which he is named among potential CEO candidates alongside heavy blockchain hitters Vitalik Buterin, Charlie Lee, and Marshall Hayner. Musk tweeted:
“Dogecoin might be my fav cryptocurrency. It’s pretty cool.”
That’s a good thing, considering Musk ran away with nearly three-quarters of the vote at last check (69%), followed by Hayner, Buterin, and Lee, respectively. He is already at the helm ofTesla, SpaceX, and the Boring Company, to name a few. What’s one more? Musk’s declaration inspired much and very memes from the Dogecoin community:
Musk couldn’t have picked a better time to jump on the DOGE bandwagon after the top-26 coin rallied by double-digits on April Fool’s Day. Today, the mineable cryptocurrency that was created as a joke is up another 3%.
Read the full story on CCN.com. || ICEs Bakkt Has Issues. A N.Y. Crypto License Might Fix Them.: (Bloomberg) -- Intercontinental Exchange Inc. has been facing resistance from federal regulators over a key part of its ambitious plan to bring Bitcoin to the masses. Now, the owner of the New York Stock Exchange is turning to state watchdogs to get the project over the goal line. ICEs plan is to create a highly regulated Bitcoin ecosystem that would encourage pension funds, endowments and other institutions to invest more money in the space, and make it much easier for consumers to buy products with the cryptocurrency. The venture, announced to much fanfare in August, has lined up big-name backers, including Starbucks Inc. and Microsoft Inc. But the launch date for the project -- known as Bakkt -- has been delayed for months because of skepticism from the Commodity Futures Trading Commission, the U.S. regulator that polices Bitcoin futures. The issue that that has made the CFTC the most concerned is how clients tokens will be stored, and thus safeguarded from possible theft and manipulation, according to people familiar with the matter. To placate the agency, ICE is considering seeking a license from New York financial regulators that would permit Bakkt itself to hold custody of customers tokens, said three of the people, who asked not to be named because the discussions arent public. Should ICE secure a state license it would still need sign-off from the CFTC on the broader Bakkt project. Bakkt Chief Executive Officer Kelly Loeffler, who is married to ICE CEO Jeff Sprecher, said last month that the company is in discussions with the CFTC and that the initiative is moving forward. Spokesmen for ICE and the CFTC declined to comment. In theory, Bakkt would address two of the main hurdles that have prevented Bitcoin from becoming anything more than a speculative fad: The investors with the deepest pockets have mostly shunned it and consumers rarely use cryptocurrencies to buy anything. Those problems have become even more acute over the past 16 months with Bitcoin suffering through a drawn-out slump that has erased more than 70 percent of its value. Story continues Atlanta-based ICE is trying to attract institutional investors by providing Bitcoin futures that differ in a crucial way from derivatives already offered by CME Group Inc. and Cboe Global Markets Inc.: When Bakkts one-day contracts expire they would pay out in Bitcoin tokens instead of U.S. dollars. The reason why thats important is that institutions have been hesitant to buy Bitcoin on the unregulated platforms where its now mostly sold -- the Wild West that dominates the crypto market. So having a futures contract overseen by ICE that delivers Bitcoin would potentially give mutual funds and endowments a more secure way to obtain tokens. Bakkt would also facilitate retail transactions by providing Starbucks and other businesses a platform to easily convert Bitcoin into dollars. Combined, the features are central to ICEs plan to enable consumers and institutions to buy, sell, store and spend digital assets on a seamless global network. From the CFTCs perspective, that objective makes Bakkt far more complicated than the Bitcoin futures that CME and Cboe launched in late 2017. The regulators rules require clearinghouses to deposit customer funds at a bank or trust company, and Bakkt is currently neither of those things. Also, some of the Wall Street partners that ICE needs to operate a derivatives market have been lukewarm about getting involved with a project that involves handling Bitcoin, according to two people familiar with the matter. The CFTC recognizes state bank and and trust licenses, and could let ICE list futures through a self-certification process if it obtains permission from New Yorks Department of Financial Services to hold tokens, said one of the people. The CFTC, which doesnt police the spot market for Bitcoin, is still likely to require public comment on Bakkt or have an ICE panel that assess risks approve the futures contracts, the person said. A spokeswoman for the New York regulator, which has granted virtual currency licenses for a number of crypto projects, said the agency doesnt comment on applications. ICE initially planned to have Bitcoin futures available last November. In a March 29 post on Medium, Loeffler said that the company was continuing to work with the CFTC and that the derivatives would eventually trade and be cleared on ICE platforms, which are overseen by the regulator. While were not yet able to provide a launch date, were making solid progress in bringing the first physical delivery price discovery contracts for Bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets, Loeffler said in the Medium post. To contact the reporters on this story: Ben Bain in Washington at [email protected];Matthew Leising in Los Angeles at [email protected] To contact the editors responsible for this story: Jesse Westbrook at [email protected], Gregory Mott For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. || Is Bitcoin mining profitable again? Revenue rises after record low: Bitcoin mining revenues are rising again after the price crash made minting the crypto largely economically unviable, according to a new report. Research newsletter Diar says Bitcoin miner revenues last month fell to their lowest levels since August 2017. Bitcoin miner revenues plummeted to a 19-month low in February, bringing home just under $195 million, a 10% decline from the start of this year. The newsletter added: To make matters slightly more difficult, miners running optimal equipment and who have secured wholesale electricity prices have seen their gross margins squeezed, requiring a massive deployment of hash power in order to stay afloat. But this month did see a small uptake, the first time since Bitcoins price boom. Costs rising A recent analysis by US-based investment bank JP Morgan outlined how the drop in the value of Bitcoin over the last year made mining the cryptocurrency too expensive to turn a profit in most countries. A research team led by Natasha Kaneva found that the cost in power to create a unit of Bitcoin was around $4,060 globally as of Q4 2018. The figure excludes the cost of equipment. Bitcoin is trading at $3,789.36 at the time of writing. Miners in nations like China and Mongolia are taking advantage of cheap power and can create a unit of Bitcoin for around $2,400. The analysts said: The drop in Bitcoin prices from around $6,500 throughout much of October to below $4,000 now has increasingly pushed margins further and further negative for just about every region except low-cost Chinese miners. The team, however, admitted data about mining is incomplete. The post Is Bitcoin mining profitable again? Revenue rises after record low appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
https://t.co/MdTYfKReNV
#ICOs #tokensale #BTC #ETH #inzura || Criptomonedas Ganadoras:
$BCH Bitcoin Cash +44.29% (USD $270.06)
$DOGE Dogecoin +31.24% (USD $0.00)
$REP Augur +23.18% (USD $21.22)
$BSV Bitcoin SV +22.19% (USD $85.92)
$LTC Litecoin +19.44% (USD $81.83) || Cryptocurrency Bitcoin +0.7% at $5,229.00 before U.S. Wednesday market open, to $5,279.68, in early-morning trading on 04/10/2019. || #Doviz
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#USD : 5.3791
#EUR : 6.1230
#GBP : 7.1224
--------------------------------------
#BTC
-------------------
#Gobaba : 22578.53
#BtcTurk : 20669.00
#Koinim : 20699.00
#Paribu : 20622.05
#Koineks : 20779.99 || 04/01 02:00現在
#Bitcoin : 452,670円↑
#NEM #XEM : 6.051円↑
#Monacoin : 134円→
#Ethereum : 15,550円→
#Zaif : 0.1711円↑ || #Doviz
-------------------
#USD : 5.4613
#EUR : 6.1287
#GBP : 7.1343
--------------------------------------
#BTC
-------------------
#Gobaba : 23427.38
#BtcTurk : 21312.00
#Koinim : 21450.00
#Paribu : 21261.02
#Koineks : 21380.00 || #Bitcoin $3,877.55 v #BitcoinCash $276.47 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.39 v #BitcoinCash ~$0.00 - 2019/03/07 06:00JST || Pay attention guys 👇💯 $link top 5 https://t.co/xC8UGrqZ3x || SELL BTC@$3966.2 16.03% (+0.06) (LONG TERM)
BUY BTC@$3966.2 68.20% (+0.14) (MID TERM)
BUY BTC@$3966.2 53.47% (+0.05) (SHORT TERM)
BUY LTC@$58.95 63.63% (+0.00) || 2019/03/06 00:00
BTC 426362.5円
ETH 14879.8円
ETC 469.8円
BCH 14531.2円
XRP 34.7円
XEM 4.6円
LSK 139.7円
MONA 54円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck
|
Trend: up || Prices: 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-09-16]
BTC Price: 47783.36, BTC RSI: 52.50
Gold Price: 1754.60, Gold RSI: 38.06
Oil Price: 72.61, Oil RSI: 62.05
[Random Sample of News (last 60 days)]
Baby Doge Ethereum Has A Massive Expansion Plan Ahead: Company CEO: Sydney, Australia--(Newsfile Corp. - August 14, 2021) - BabyDoge Ethereum, the latest crypto coin in the market, has a massive expansion plan in the next few months. Informing about the same, the company CEO issued a statement indicating its possible expansion plan within the next few months.
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8199/93101_6788b5cbb4e8eb00_001full.jpg
"Doge Eth wants to disseminate the concept of cryptocurrencies among the masses so that everyone can start investing in cryptocoins," the Company CEO said.
Babydoge Ethereumis available in a fully decentralized defi ecosystem. The community is dedicating a lot of time to spread the word. In order to popularise BabyDoge, the community has also announced more rewards for investors who invest in the cryptocoins.
There are multiple benefits of the decentralized ecosystem through which anyone can easily invest their hard-earned money in BabyDoge Ethereum. It offers more personalized and customized services apart from giving users more decision-making power and capabilities. A decentralized ecosystem aims at full autonomy where investors can easily buy, sell and transact using Baby Doge Etherium without any technical flaws or legal issues.
Benefits of BabyDoge Ethereum At A Glance
• Transact in a decentralized platform.
• Investors have more choices while opting for service providers.
• Investors need not accept all terms and conditions of the platform.
• Users can obtain local copies of their data and other essential information.
• Invest in BabyDoge Eth. using end-to-end encryption.
• User's content can't be accessed or deleted by anyone.
Why Is Baby Doge In The News?
While the currency is relatively new in the market, it has already received massive publicity and popularity. It was launched a month back but has been seeing a constant surge in its value in the last few days
Baby Doge Ethereum debuted into the crypto markets just a few days back, but owing to its endearing Shiba Inu dog logo, the coin has now got a fanbase of its own. The platform also enables an integrated smart staking system that helps people add more cryptocoins to their wallets after every successful transaction.
At present, Baby Doge Ethereum has a market capitalization of $0.3 billion (estimated) worldwide. The figure is likely to go up in the coming days as more and more people join the community.
Investing in BabyDoge Ethereum: Key Points
Thorough Analysis:Before investing in BabyDog Ethereum or any other cryptocoins, you must inspect all price charts, market trends, and value fluctuation. Since it's a new player in the market, you can expect some short-term volatility in the crypto market.
Right Platform:Once you decide to invest in BabyDoge Ethereum, you've to choose the right platform for investing. Right now, you can easily create your profile and integrate your crypto wallet into PancakeSwap to start investing and trading.
Exchange Rules:Using the right platform like PancakeSwap can save you time, effort, and money. Being a decentralized cryptocurrency exchange, investors can easily contribute their tokens for transactions. You should integrate your wallet into PancakeSwap and start trading online.
Balanced Investment:If you are a cautious investor, don't invest too much too fast. Initially, you should invest a small amount in Baby Doge and gradually increase your investment limit. Baby Doge is new but enjoys good credibility in the market. It would be a prudent idea to invest in it.
The Future Ahead
Baby Dogecoin Ethereumhas just entered the market. But going by the trend, it shows a promising future ahead. It was launched with the initial price offering of $0.000000000175 spread over its total supply of 420 quadrillion tokens. Right now, Baby Doge Ethereum is trading at $0.000000002599 following an upward trend with continuous growth in investors' confidence and faith in it.
A few days back, the coin saw a whopping 130%+ rise in its trading volume in a single day. Baby Doge is ready to compete heavily against other prominent crypto coins in the market, including Bitcoin, Ethereum, and others.
Media Details -
Eric CartsmanEmail [email protected] - Sydneycountry - AustraliaWebsite -https://babydogecoin.gg/
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/93101 || United Wholesale Mortgage to Accept Bitcoin Payments: BeInCrypto –
The leading mortgage lender in the U.S., United Whole Mortgages, has announced a plan to accept bitcoin (BTC) payments.
This past week, United Wholesale Mortgage (UWM)revealedits plan to accept BTC for payments. CEO Mat Ishbia said these plans should come to fruition by the end of the year. If so, this would make UWM the first major nationwide mortgage lender to offer such a service.
Ishbia said the company is excited to offer crypto options for mortgage payments before anyone else in the country.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Bitcoin for sale through the Post Office: Representations of cryptocurrency Bitcoin The Post Office has been accused of giving legitimacy to high-risk investments after teaming up with a cryptocurrency trading business. Bosses at the state-owned institution have signed a deal with Swarm Markets, an exchange which connects buyers and sellers of online tokens including cryptocurrencies such as Bitcoin. The agreement allows Swarm to use the Post Offices identity verification app, which is called EasyID. Users who have verified their identity through the app will be able to access Swarm's website and purchase cryptocurrency vouchers with a few taps of their phone. The vouchers can then be redeemed for cryptocurrencies such as Bitcoin and Ethereum. The Post Office will not receive commission on vouchers sold, but is paid for use of its ID verification software. Swarm pays funds to Yoti, a company which partners with the Post Office on the app. Experts warned of the risks of cryptocurrencies and expressed surprise at the Post Office tie-up. Warren Shute, a chartered financial planner, said: When people buy cryptocurrencies, they should be sold with a very clear wealth warning: that you could get back a lot less than you purchased. It's one thing buying crypto online via an investment platform as that's what the audience expects, but you don't associate this with the Post Office. Bitcoin has proved exceptionally volatile, soaring to an all-time high of $63,000 in April this year before losing half its value over the following three months, including a 41pc drop in just two weeks in May. Its latest slump came just this week, when Bitcoin fell 10pc in value on the day that El Salvador became the first country to accept the cryptocurrency as legal tender. One Bitcoin now costs $47,000. Dame Angela Eagle, an MP who sits on the Treasury select committee, said: Its extremely concerning ... The Post Office is running a huge risk of completely damaging a trusted brand. Theyre risking their own brand for something which is unregulated, and giving it legitimacy and credibility. I think they should stop it right away. Story continues Baroness Nicky Morgan, former chairman of the Treasury select committee, said: It does seem a very odd thing for the Post Office to get involved with. This year the Financial Conduct Authority, the City regulator, warned that people buying Bitcoin did not understand it, cautioning the cryptocurrency was extremely risky as prices could go to zero . It found that only 58pc of people believed they had a good understanding of how cryptocurrencies worked and warned investors betting on them to be "prepared to lose all their money". Berlin-based Swarm Markets is regulated by BaFin, the German financial regulator, and allows users to trade and store cryptocurrencies, as well as lend out their investments to earn interest, known as yield farming. Philipp Pieper, of Swarm Markets, said: By making it easy and safe to buy real Bitcoin and Ethereum, more people now have the option to get started in crypto. A Post Office spokesman said: Access to products and services are increasingly moving online and weve responded to this shift by launching our free-to-use app, Post Office EasyID, allowing people to build their own secure digital identity on their smartphone and enabling them to easily control and prove who they are to whichever business they want to interact with. || FOREX-Dollar higher but still set for biggest weekly loss since May: * Dollar index down 0.8% for the week
* U.S. consumer spending rises strongly in June (Updates prices, adds Fed speaker comment)
By Saqib Iqbal Ahmed and Ritvik Carvalho
NEW YORK, July 30 (Reuters) - The dollar rose on Friday as upbeat economic data helped reverse some of the losses from earlier this week when dovish remarks by the Federal Reserve scuttled a month-long rally in the U.S. currency.
The dollar also got a lift after St. Louis Federal Reserve President James Bullard said the Fed should start reducing its $120 billion in monthly bond purchases this fall and cut them "fairly rapidly" so the program ends in the first months of 2022 to pave the way for a rate increase that year if needed.
The dollar index, which measures the greenback against a basket of six currencies, was 0.3% higher at 92.113. The index was down 0.8% for the week, on pace for its worst weekly performance since the first week of May.
The greenback's downtrend began after Fed Chair Jerome Powell tripped up dollar bulls following a policy meeting this week by saying that rate increases were "a ways away" and the job market still had "some ground to cover."
"While the dollar suffered a notable setback this week, how significant it could prove may be gleaned by nonfarm payrolls next week," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
The dollar found some support on Friday after data showed U.S. consumer spending rose more than expected in June as COVID-19 vaccinations boosted demand for travel-related services and recreation, even though part of the increase reflected higher prices, with annual inflation accelerating further above the Federal Reserve's 2% target.
The euro was 0.2% lower against the greenback but near a 1-month high after data showed the euro zone economy grew more quickly than expected in the second quarter, pulling out of a recession caused by the pandemic, while inflation shot past the European Central Bank's 2% target in July.
Meanwhile, the Chinese yuan had recovered all of its losses from Tuesday's plunge to trade at 6.4631 per dollar.
Sentiment was helped by China's attempt to calm frayed investor nerves by telling foreign brokerages not to "over-interpret" its latest regulatory actions.
With investors shying away from riskier assets, both the Australian and New Zealand dollars were down on the day but remained near two-week highs.
Sterling hovered close to a one-month high versus the dollar and was on course for its strongest week since December ahead of a Bank of England meeting next week.
Bitcoin was down about 3%, slipping well below $40,000, a level the cryptocurrency has not closed above since mid-June.
(Reporting by Saqib Iqbal Ahmed and Ritvik Carvalho; Additional reporting by Swati Pandey in Sydney; Editing by William Maclean, Tomasz Janowski, Frances Kerry and Dan Grebler) || Bitcoin trading subdued after chaotic debut in El Salvador; Coinbase faces lawsuit: By Herbert Lash
NEW YORK (Reuters) -Volatility in bitcoin eased on Wednesday, a day after El Salvador adopted the crypto asset as legal tender https://www.reuters.com/business/finance/el-salvador-leads-world-into-cryptocurrency-bitcoin-legal-tender-2021-09-07, but the threat of a U.S. lawsuit against crypto exchange Coinbase https://www.reuters.com/technology/sec-threatens-sue-coinbase-over-crypto-lending-programme-2021-09-08 Global Inc underscored the rocky road ahead for cryptocurrencies.
The Securities and Exchange Commission issued Coinbase with a Wells notice, indicating the U.S. regulator will sue if the crypto exchange goes ahead with the launch of its interest-bearing "Lend" product for crypto assets.
SEC Chair Gary Gensler has called the crypto universe a "Wild West" that is riddled with fraud and investor risk.
Coinbase said it would delay the launch until at least October. Shares of Coinbase closed down 3.2% at $258.20.
Coinbase is not the only cryptocurrency platform to come under regulatory scrutiny. Several states have cracked down on BlockFi.
It would be a mistake to view the SEC's scrutiny as isolated to Coinbase, which happens to be in the spotlight, said Cowen & Co, a unit of financial services firm Cowen Inc, in a note to investors.
"This is part of a broader regulatory pushback on crypto," said analyst Jaret Seiberg. "As we have long argued, crypto should expect to be regulated the same as the traditional product it is trying to replicate or replace."
Trading in bitcoin was less hectic after the cryptocurrency suffered its heaviest losses in 2-1/2 months on Tuesday, when it hit a near four-month high of $52,956 before ending the day down 11.1%, its largest percentage drop since June 2.
At one point on Tuesday, the digital currency fell as much as 18.6%, wiping out more than $180 billion in market value.
Bitcoin slid 1.64% to $46,095.97.
While a historic day for bitcoin as El Salvador became the first country to make the digital currency legal tender, Tuesday proved a bumpy start.
Technological glitches hampered its use while street protests by mistrustful citizens broke out in the Central American country.
Analysts said the move by El Salvador showed crypto currencies are here to stay but as with any innovation, they will suffer birthing pains as the currency's volatility must be resolved.
Bitcoin has been pitched to a largely unbanked population in El Salvador as an effective savings vehicle and a store of value for users, said Ganesh Viswanath-Natraj, assistant professor of finance at Warwick Business School in Britain.
"High volatility in a medium of exchange corresponds to high volatility in the macroeconomy. Users who hold bitcoin will now see wild swings in their savings," Viswanath-Natraj said.
Bitcoin has experienced daily trading moves of 10% or more 10 times this year, as it did both in 2020 and 2019, according to Refinitiv data. In 2018 and 2017, there were 17 days each year of 10% moves or more, per Refinitiv.
Citing volatility in crypto markets, Robinhood Markets Inc said on Wednesday it would roll out crypto recurring investments, allowing customers to buy digital coins commission-free and with as little as $1 on a schedule of their choice.
(Reporting by Herbert Lash in New YorkAdditional reporting by Jamie McGeever in New York, Hideyuki Sano and Anushka Trivedi in Tokyo and Noel Randewich in San FranciscoEditing by Nick Zieminski and Matthew Lewis) || Bitwise Files Bitcoin ETF Application With the SEC: BeInCrypto Cryptocurrency fund manager Bitwise has sent in an application for a bitcoin exchange-traded fund (ETF) to the U.S. SEC, providing exposure indirectly through futures contracts. Cryptocurrency asset management and advisory firm Bitwise has filed a bitcoin ETF application with the United States Securities and Exchange Commission (SEC). This marks yet another firm sending in an ETF application to the SEC . Bitcoin ETFs keep rolling in The ETF, called the Bitwise Bitcoin Strategy ETF, seeks to provide long-term capital appreciation through futures contracts. It does not invest directly in bitcoin, which it emphasizes strongly. Besides investing in cash-settled futures contracts, it may also invest in pooled investment vehicles and Canadian-listed funds that provide exposure to bitcoin. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || The Next Evolution of Crypto - Going Green with Bitcoin Latinum: PALO ALTO, CA/ ACCESSWIRE / August 13, 2021 /Bitcoin Latinum, a more scalable and sustainable network which uses an energy-efficient consensus process, is thrilled to announce that it has officially joined theCrypto Climate Accordas aSignatory and Supporter.
Bitcoin Latinum(LTNM) is the next-generation cryptocurrency, executing the necessary changes on going green. Greener, faster, and more secure than Bitcoin. In high-growth markets including media, gaming, telecommunications, and cloud computing, Bitcoin Latinum aims to improve transaction speed, lower fees, and increase security.
Bitcoin Latinum made several alterations to guarantee the transformation on going greener. Bitcoin Latinum is launching with 80% of pre-mined Latinum, meaning that there will be no waste in electricity to mine the coins, as well as moving away from PoW to PoS in Bitcoin.
Bitcoin Latinum, uses an advanced version of the Proof of Stake mechanism that can handle a larger number of transactions per second and does not require the nodes to solve complex equations to mine the currency. This helps to improve the electricity usage for the bitcoin latinum network.
The Bitcoin Latinum Foundation stated, 'We understand the necessity for cryptocurrency mining and hosting companies to expedite the use of renewable energy solutions in order to reduce emissions and advance toward net-zero electricity consumption emissions. We are thrilled to be a part of this project.'
By joining the Crypto Climate Accord (CCA) , Bitcoin Latinum seeks to achieve a net-zero carbon footprint, from power consumption linked to its crypto-related operations within the next decade, by deploying an environmentally friendly, more secure, proof of stake consensus mechanism. As well as to report progress toward this goal using best industry standards.
Bitcoin Latinum (LTNM) is a bitcoin hard fork that intends to keep Satoshi Nakamoto's vision of Bitcoin as a bankless, peer-to-peer electronic cash system alive. Bitcoin Latinum will also have theirthird pre-sale, which will last for at least one week. Purchases under 1,000 tokens will receive 5% bonus, and purchases of 1,000 tokens or more will receive 10% bonus. Pre-sale will happen from the 2nd of August and will last for 10 days thereafter.
About Bitcoin Latinum
Bitcoin Latinum is the next-generation Bitcoin fork which is environmentally friendly, faster, and more secure than Bitcoin. Bitcoin Latinum intends to improve transaction speed, cut costs, and increase security in high-growth areas such as media, gaming, telecommunications, and cloud computing by employing an energy-efficient Proof of Stake consensus process. The main goal is to enhance Bitcoin's code, so that it can operate with greater security, transactional speed, dependability, and lower transaction costs. For more information about Bitcoin Latinum, visitbitcoinlatinum.com
About Crypto Climate Accord
TheCCAis a private sector-led project for the global crypto community, inspired by the Paris Climate Agreement, with the goal of decarbonizing the cryptocurrency and blockchain industries in record time. The rising demand for cryptocurrencies and the rapid adoption of blockchain-based solutions has brought attention to an essential issue: the technology's increasing energy consumption and its impact on the environment. That's why CCA is collaborating with the crypto and blockchain businesses to speed the development of digital #ProofOfGreen solutions and establish a new benchmark for other industries to follow.
Social Links
Facebook:https://www.facebook.com/bitcoinlatinumTwitter:https://twitter.com/bitcoinlatinumInstagram:https://www.instagram.com/bitcoinlatinum/
Media Contact
Company: Bitcoin LatinumContact: Kai Okada, Media ManagerE-mail:[email protected]:https://bitcoinlatinum.com/
SOURCE:Bitcoin Latinum
View source version on accesswire.com:https://www.accesswire.com/659661/The-Next-Evolution-of-Crypto--Going-Green-with-Bitcoin-Latinum || Twitter May Add Bitcoin to Its Tip Jar Feature in Near Future: Circulating rumors and leaked images suggest that Twitter may be adding the ability to pay with Bitcoin through its Tip Jar service. The social networking service announced its new Tip Jar feature back in May,allowing users to send and receive tips from other Twitter usersvia third-party payment services.
Cryptocurrency Jargon:A Guide for the Crypto-CuriousBeware:Crypto and Investment Scams Are Skyrocketing This Year
Alessandro Paluzzi, a known leaker and developer, tweeted an image of how the system will supposedly work, The Street reported. According to the post, it may be integrated with Twitter’s existing Tip Jar service, using Strike to enable instant Bitcoin transfers through the lightning network.
Following Paluzzi’s leaked image, he said that he used reverse engineering to enable the feature on his phone; however, it is still inactive.
Related:Robinhood Plans To Grant Users Early Access to Their Paychecks
The leaked image is not the only indication that Twitter may be adding Bitcoin to Tip Jar. The Street also noted reports coming from a MacRumors post, talking about Twitter’s latest beta update. “Bitcoin isn’t yet available to select as a tip option for beta users, but code in the beta suggests that Twitter is in the process of rolling it out,” according to the post.
During the company’s second quarter earnings call, Twitter CEO Jack Dorsey confirmed to investors that bitcoin will be a “big part” of the company’s future, TechCrunch reported. “I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it,” he added.
See:Jack Dorsey, Elon Musk and 21 More CEOs Who Changed How We LiveFind:How Does Twitter Make Money?
TechCrunch also noted that a Twitter rep confirmed this is thefirst time that Dorsey has spoken publiclyabout how Twitter could integrate bitcoin into its lineup.
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Last updated: September 3, 2021
This article originally appeared onGOBankingRates.com:Twitter May Add Bitcoin to Its Tip Jar Feature in Near Future || Kessler Topaz Meltzer & Checker, LLP: Final Deadline Reminder for Coinbase Global Inc. Investors - COIN: Radnor, Pennsylvania--(Newsfile Corp. - August 4, 2021) - The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against Coinbase Global, Inc. (NASDAQ: COIN) ("Coinbase") on behalf of those who purchased or acquired CoinbaseClass A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Offering Materials") for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the "Offering").
Deadline Reminder: Investors who purchased or acquired Coinbase Class A common stockpursuant and/or traceable to the Offering may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail [email protected];orclickhttps://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=coinbase
According to the complaint, Coinbase "powers the cryptoeconomy," offering a "trusted platform" for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.
On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the registration statement, the resale of Coinbase's stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the NASDAQ, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase's operations would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds.
The complaint alleges that one month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users' ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including "delays . . . due to network congestion" affecting those who want to get their money out.
Following this news, Coinbase's share price fell $23.44 per share, nearly 10%, over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021. By the time the complaint was filed, Coinbase stock traded as low as $208.00 per share, a decline from its April 14, 2021 opening price of $381.00 per share.
The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase's platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants' positive statements about Coinbase's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Coinbase investors may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visitwww.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500 (toll free)[email protected]
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/92140 || Bitcoin prices just got smashed, but this crypto insider still sees $160,000: The steep pullback inbitcoin prices(BTC-USD) this week doesn't derail the bullish outlook forcryptocurrency, argues one veteran industry insider.
"If we have enough volume from new buyers, we should go back and retest that $53,000 to $55,000 level. If we break through that, we will see new highs this year. I am still holding my projections that we will be hitting the $140,000 to $160,000 levels. It might take us into Q1 of next year because of this kind of flash crash and clean-up we have seen with the Chinese miners, but it's definitely going higher," said Celsius Network CEO Alex Mashinsky onYahoo Finance Live.
The keywords, by the leader of a crypto platform, being "new buyers."
Bitcoin prices plunged at one point by 10% on Wednesdaycontinuing a rout that started on Tuesday amid a botched rollout of the crypto as a currency in El Salvador. The selling extended to other cryptos as well as traders viewed glitches with El Salvador's rollout as a negative for adoption in other countries.
The price of bitcoin as of this writing were flirting with the $46,000 level, down sharply from the more than $52,000 seen ahead of the El Salvador launch.
Another bitcoin pro Yahoo Finance talked with also pointed to Coinbase's ongoing battle with the SEC as an added reason for the pullback in bitcoin prices.Coinbase co-founder and CEO Brian Armstrong went on a 21-tweet rantagainst the SEC for threatening to sue the crypto exchange if it launches a new lending product.
"The Coinbase news isn't helping," said a source on market sentiment.
Despite the fresh bitcoin volatility, one would be hard pressed to find a concerned crypto loyalist. To this group, nothing has changed in terms of crypto fundamentals and hence, prices are likely to head higher.
Explains Mashinsky, "It took 12 years to get the first 100 million users into bitcoin. It took five months to double that. So now there is over 200 million users worldwide that hold bitcoin accounts. It's definitely accelerating, we are seeing the hockey stick."
Brian Sozziis an editor-at-large andanchor at Yahoo Finance. Follow Sozzi on Twitter@BrianSozziand onLinkedIn.
Read the latest financial and business news from Yahoo Finance
Read the latest cryptocurrency and bitcoin news from Yahoo Finance
For more information about cryptocurrency, check out:
Dogecoin, what is it? How to buy it
Ethereum: What is it and how do you invest in it?
The top 21 crypto leaders to watch in the back half of 2021
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
For The First Time Ever, One Bitcoin Is More Valuable Than One Ounce Of Gold: For the first time ever, onebitcoinis worth more than an ounce of gold. According to aCNNMoney report,the price of one bitcoin traded above $1,290 on Friday while an ounce of gold costs $1,228.
There are a few factors at play here. First, high demand for the digital coin helped push the price of a bitcoin higher throughout the year, although it did suffer a major setback. The price of a bitcoin tumbled 30 percent earlier this year after authorities in China increased their scrutiny of bitcoin exchanges.
People in countries like China are major supporters of bitcoin as it is perceived to be a safe haven, especially in times of turmoil when anonymity is also a factor.
But some experts are finding it hard pressed to explain why bitcoin is more valuable than gold — a commodity that has existed for centuries as opposed to the digital currency that few have heard of in the late 2000s
Related Link: Gartman: Bitcoin Is Nearly Incomprehensible At This Point
Charles Hayter, the CEO of the digital currency comparison website CryptoCompare, told CNNMoney that there is no direct correlation between gold and bitcoin. At the end of the day, bitcoin is its own class "in its own right."
Hayter also said that the issue in China that plagued bitcoin earlier this year has now been "brushed under the carpet," and any short-term woes will be erased over the longer term.
Image Credit: By Davidstankiewicz - Own work, CC BY-SA 4.0, via Wikimedia Commons
See more from Benzinga
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• There's A New Gold ETF: Here's What You Need To Know
• Donald Trump: U.S. Dollar Is 'Too Strong'
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Kim Dotcom announces new Bitcoin venture for content uploaders to earn money: WELLINGTON (Reuters) - Controversial New Zealand-based internet mogul Kim Dotcom plans to launch a Bitcoin payments system for users to sell files and video streaming as he fights extradition to the United States for criminal copyright charges. The German-born entrepreneur, who is wanted by U.S. law enforcement on copyright and money laundering allegations related to his now-defunct streaming site Megaupload, announced his new venture called 'Bitcontent' in a video posted on Youtube this week. "You can create a payment for any content that you put on the internet...you can share that with your customers, with the interest community and, boom, you are basically in business and can sell your content," Dotcom said in the video. He added that Bitcontent would eventually allow businesses, such as news organizations, to earn money from their entire websites. He did not provide a launch date. Dotcom did not provide details on how Bitcontent would differ from existing Bitcoin operations or how it would help news organizations make money beyond existing subscription payment options. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. The currency's anonymity has however made it popular with drug dealers, money launderers and organized crime groups, meaning governments and the financial establishment have been slow to embrace it since the first trade in 2009. The currencys value hit record levels in 2017, trading at $1,145 on Wednesday, a fivefold increase in a year, amid growing interest globally. A New Zealand court ruled in February that Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid on his Auckland mansion, a decision he was appealing. Dotcom, who has New Zealand residency, became well known for his lavish lifestyle as much as his computer skills. He used to post photographs of himself with cars having vanity plates such as "GOD" and "GUILTY", shooting an assault rifle and flying around the world in his private jet. (Reporting by Charlotte Greenfield; Editing by Michael Perry) || Why AMD Shares Jumped 7%: Shares of Advanced Micro Devices jumped 7% on Monday after a pair of Wall Street analysts issued positive notes about the company’s new line of microchips.
AMD’s stock rose $0.98 to $14.47 in midday trading. The stock, which quadrupled last year, had fallen from a 10-year high of $15.55 at the end of February over concerns about slow early sales of its new chips.
But those short-term worries are unfounded because ofCEO Lisa Su’s strategy of offering comparable or better performancewith competing chips at a fraction of Intel’s prices, Jeffries analyst Mark Lipacis wrote on Monday in a note. He raised his target price on AMD to $16 from $13.
Get Data Sheet, Fortune’s technology newsletter.
Intel has captured close to 95% market share in chips for desktops, laptops, and servers, but now AMD is poised to recapture some of that share. If AMD reaches 5% market share in all three segments, it could generate as much as $1.5 billion of additional revenue over the next few years, Lipacis forecast. Hitting 15% in the three markets could add as much as $4.6 billion. That’s more than the $4.3 billion AMD brought in for all of last year.
“We have argued that AMD is in the early innings of its multi-year turnaround story, a strategy being executed upon by its new CEO,” the analyst wrote. “We think AMD’s ability to price between-the-seams while achieving competitive performance will result in meaningful share gains from (Intel) in the desktop, server, and notebook markets starting in 2017.”
Wall Street and investors have beengrowing increasingly concernedabout the mounting competition for Intel. Its shares have dropped 2% so far in 2017, while the S&P 500 Index has gained 6%.
Still, sales of AMD’s desktop-oriented Ryzen 7 chips, released in early March, have been held back by shortages of related parts like compatible motherboards, Susquehanna analyst Christopher Rolland noted in a report on Monday. And whilea few lesser PC makershave begun selling PCs with Ryzen chips, the heavy hitters like Dell and won’t offer AMD-laden systems until next month at the earliest, Rolland said.
“We identified a few smaller PC makers that are selling Ryzen desktops, however, we believe they are just purchasing standalone processors and putting them inside pre-assembled PCs,” Rolland wrote. “No major PC OEM (HP, Lenovo, Dell, Asus) is currently selling Ryzen desktops. We estimate sales will begin in April.”
See original article on Fortune.com
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• Snap Inc. Shares Fell Below $20 for the First Time || 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 || USD/CNH Patterns to Watch after PBOC Talks on U.S.- China Relationship: DailyFX.com -
This daily digest focuses on Yuan rates, major Chinese economic data, market sentiment, new developments in China’s foreign exchange policies, changes in financial market regulations, as well as market news typically available only in Chinese-language sources.
- The USD/CNH is testing a major support. Watch key levels next.
- The PBOC Governor addressed on investment negotiations between China and the U.S.
-Looking for more trade ideas? Review DailyFX’s2017 Trading Guidesand watchDailyFX webinars.
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Yuan Rates
Prepared byMichael Boutros.
USDCNH is testing the monthly opening-range lows with key support seen at the 61.8% retracement of the January rally at6.8391. The pair has been trading within the confines of a well-defined descending pitchfork formation with the upper median-line parallel highlighting resistance & near-term bearish invalidation at6.8839-note that this level also converges on the February high.
The near-term focus remains weighted to the downside while below this region with a break lower targeting confluence support at6.8048where the 61.8% extension of the decline off the yearly high converges on the 50-line of the operative slope. Subsequent support targets at6.7765-6.7818(38.2% retracement & the 2017 opening-range low). From a trading standpoint we’ll favor fading strength while below the upper parallel with a break of the range lows targeting subsequent support objectives.
Market News
PBOCNews:China’s Central Bank.
-China’s Central Bank released the full text of Governor Zhou Xiaochuan’s speech at Boao Forum this weekend. “China has been conducting negotiations on a bilateral investment treaty with the U.S., though some of the talks have been suspended. China is waiting for the new U.S. government to decide how to move forward on these talks”, according to the Governor.
Mr. Zhou also said that “if the U.S. adopts valued added tax [on imported goods], China welcomes; however, implementing a border adjustment tax is controversial.”
This indicates that the outlook of trade and investment between the two countries still has some uncertainty. This may not be good news for the Chinese economy, as it has already experienced slow growth in exports and imports.
- The PBOC announced on Monday that it has hosted a supervision work conference last week for cross-border Yuan business and set targets for the 2017: the regulator will guide the development of offshore Yuan markets and promote cross-border Yuan business to develop in a healthy way.
The Chinese regulator has been strengthening oversight on cross-border Yuan transactions and this is likely continue to be the case in 2017. As of March 27th, the “Big Three” Chinese Bitcoin trading platforms, BTCChina, OKCoin and Huobi, have not yet removed restrictions on Bitcoin withdrawals, which came into effect following a series of inspections on illegal cross-border transactions launched by the PBOC.
Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.
- In the first two months of 2017, China’s state-owned enterprises (SOEs) made a profit of 201.86 billion Yuan, rising +40.3% compared to the same period last year, according to China’s statistics bureau. In specific, oil, petrochemical, coal and steel industries that experienced major losses last year, all reported gains this January and February. This is likely driven by soaring energy prices. On the other hand, machinery and electricity companies reported significant drops in profits, likely led by the same reason -higher energy costs.
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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. || This bullish signal has never been wrong — and it’s about to flash for 2017: Critical information for the U.S. trading day
The Dow has nabbed record closes for eight straight sessions — and what about the S&P 500?
The last time that broad index suffered a 1% drop, as detailed in ourstat of the day, it was October and the Cubs still were battling to end their storied World Series drought.
Enough already?
CFRA’s Sam Stovall says he’s looking for a long-overdue “digestion of gains,” though he adds the pause will not likely result in the end of this bull market.
The run will continue, the chief investment strategist writes, thanks in part to improving earnings and inflation staying subdued. In support, he notes one indicator that’s close to getting triggered.
“If you need additional encouragement that a bear market is not just around the corner, history again may offer some more virtual Valium,” says Stovall, who delivers ourcall of the day.
Since 1945, there have been 27 years when the S&P has achieved gains in January and February. The stock index then finished up for the year (on a total-return basis) in every one those years, according to Stovall. That’s going 27 for 27, or batting a thousand.
The average rise in those years was 24%, as shown in his chart below.
CFRA
So that bodes well for 2017 — though the chart’s footnote features that favorite Wall Street caveat: “Past performance is no guarantee of future results.”
Plus, February isn’t over yet, and it’s typically the stock market’s second-worst month of the year. But the S&P is up 3.8% for the month, after rising 1.8% in January.
As Stovall puts it, the first two months can “offer a clue that investors believe that good things still lie ahead.”
Futures for the DowYMH7,-0.05%, S&P 500ESH7,-0.13%and Nasdaq-100NQH7,-0.01%are trading flat to lower, after the DowDJIA,+0.58%, S&PSPX,+0.60%and Nasdaq CompositeCOMP,+0.47%all chalked upall-time closing highs again yesterday.
OilCLJ7,-1.33%is giving backTuesday’s gain. Seethe Market Snapshot columnfor the latest action.
90 straight trading days — That is how long the S&P has gone without closing lower by 1% or more, notes Charlie Bilello, research director at Pension Partners.
The stock gauge ended 1.2% down on Oct. 11 — more than four months ago — and hasn’t clocked out on such a negative note since then.
Bristol-Myers SquibbBMY,+1.13%is gaining premarket following news that billionaire activist investorCarl Icahn has taken a stakein the drug giant.
FacebookFB,-0.15%is reportedlyin talks to stream Major League Baseball games.
First SolarFSLR,-3.30%was among the companies that posted earnings late yesterday. Investors initiallytook a shine to the stock, but now it’s falling.
Names on the earnings docket before the open includedoff-price retailer TJXTJX,+1.01%,Dish NetworkDISH,+1.88%,GPS maker GarminGRMN,+7.83%,cameras company MobileyeMBLY,+3.53%andhome builder Toll BrothersTOL,+7.75%.
TeslaTSLA,+0.94%is among those reporting after the close, as the electric car maker’smarket cap catches up to Ford’sF,-0.24%.
See:Tesla earnings — expect Model 3 updates amid record highs
In political news, federal officials say theTrump administration’s tighter deportation rulesare “not intended to produce mass roundups.” Today, cabinet membersgo to Mexico.
Some Republican lawmakers aresteering clear of town hall events, hoping to avoid anti-Trump protesters. Attendees have held up IDs to provethat they’re real constituents, while thepresident tweetedlate Tuesday that the chaos is “in numerous cases, planned out by liberal activists.”
A report on existing-home sales is due after the opening bell, and Fed Gov. Jerome Powell speaks around halftime.
Minutes from the Fed’s last meeting (when itstood pat) are on tap at 2 p.m. Eastern Time.
ReadMarch, May, or June? Minutes may hold clues on next hike
And see:MarketWatch’s Economic Calendar
“We are probably not going to forecast the next financial crisis, or forecast the next recession. Our models are just not that good.” — Bank of England officialGertjan Vlieghe suggeststhe world’s central bankers have their limits.
See:5 quotes that tell you everything you need to know about forecasting
CoinMarketCap
BitcoinUS:BTCUSDis advancing again this morning, building on yesterday’s jump to its highest level since December 2013.
Call it a Winklerally?
Analysts say the cryptocurrency’s gains come from traders attempting to front-run a regulatory decision on the much-anticipated Winklevoss Bitcoin Trust ETF.
Read all about it:Bitcoin prices touch fresh 3-year high
Later today, NASA is expected to dish on itsbig new find of planets.
An artist plansto entomb himself in a boulder, then sit on eggs until they hatch. He’s French.
Enemies of the people? A newspaper editor gives “a peek behind enemy lines.”
More on that N. Korean assassination: Killers “used nothing but their bare hands.”
Agoalie resignedafter eating a meat pie during a game and sparking#PieGate.
Bavariaplans to ban the full-face veilin schools and other places.
—MrTopStep Grouphttps://mrtopstep.com
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Dont Forget To Subscribe To Our YouTube Channel!Sign Up Here:http://www.youtube.com/mrtopstepgroup || Bitcoin ETFs For Dummies: Spencer Bogart is vice president of equity research for Needham & Co. He joined the firm in 2014 and currently leads the research efforts on blockchain technology and bitcoin while supporting research on cloud software (SaaS) companies. ETF.com recently sat down with Bogart, a former ETF.com analyst, to get his take on all the important developments in the bitcoin market ahead of the key SEC decision on the Winklevoss ETF, expected within the next month.
ETF.com: Before we jump into more specifics, in a nutshell, how would you describe what bitcoin is to the layperson?
Bogart:Bitcoin is peer-to-peer digital cash that's not issued by any central authority.
ETF.com: Tell us about the highly anticipated decision that's coming from the SEC. What is it ruling on and what are the odds the ruling will be positive?Spencer:There's a number of bitcoin ETFs that are going through the regulatory approval process. The one that's been going through the process the longest is the Winklevoss bitcoin ETF [Winklevoss Bitcoin Trust (COIN)]. That's been going on for about 3 1/2, four years now.
The exchange they would like to list that particular ETF on―which in this case is Bats [owner of ETF.com]―has filed a proposed rule change, which would be necessary to list the ETF. It's that proposal that essentially we've been watching go through the regulatory approval process.
At each point along the way, the SEC has had the option to approve, disapprove the ETF or to extend its time to make a decision. All along the way, it’s chosen the opportunity to extend the time to make a decision, including submitting requests for public comments.
We’ll now see an end to that process before March 11, which is the deadline. Before that, we’ll either get an approval, a disapproval or Bats will withdraw its request for a rule change. Or, if no decision is made by March 11, then the rule change is automatically approved.
ETF.com: What factors are the SEC considering?
Bogart:I don't have any inside information, but my sense is that the majority of the things that the SEC is particularly concerned about revolve around bitcoin itself as opposed to anything specific about the Winklevoss filing.
They're asking if a digital asset such as bitcoin―which, unlike a commodity doesn't have a physical form, and unlike a security or derivative, is not under any kind of regulatory supervision―is a suitable underlying asset for an ETF.
At the highest level, that's the kind of thing they're considering. A little bit more in the weeds they're asking if the specific markets that bitcoin trades on are stable, fair and efficient, and if they facilitate or enable or encourage any kind of market manipulation.
And then of course, there are the factors that are more specific to the ETF itself, which I think, in this case, probably the most important ones are what do you use as a reference price for bitcoin, and how are you going to securely store that bitcoin?
ETF.com: Does the Trump administration have any influence on the process?
Bogart:I’m hearing there are a number of bitcoin-friendly people that have taken up various posts within the administration. I'm hearing that it's, on the margin, at least a little bit positive for bitcoin.
I'm not sure if any of those people are in influential roles at the SEC. They may or may not impact the ETF decision, but overall, the probability of onerous legislation or regulation against bitcoin decreases on the margin with the administration change.
ETF.com: All that said, you say you believe the odds of approval aren't very high. Why is that?
Bogart:We've pegged the odds at less than 25%. That's because the very first thing the SEC lists in its own mission statement is protecting the investing public. When you think about the game theory aspect of this, if I work at the SEC and I approve this ETF and it goes well, nobody is probably going to come around and pat me on the back and give me a promotion. But if I approve it and a lot of money flows into it and something goes wrong, I'm likely to lose my job.
The SEC has gone very deep on this, and it’s really explored it far deeper than I expected it to. It would have been a pretty easy thing for it to just write off three years ago and forget about it. But I just don't know if it can get comfortable with the number of risks related to bitcoin itself.
ETF.com: If you're wrong and the SEC allows the launch, how much money do you see it attracting, and what will be the impact on the bitcoin price?
Bogart:Roughly speaking, we've estimated that at least $300 million would flow into this fund in the first week. An ETF would be the first time that the gates have been opened to bitcoin for institutional capital.
Most institutional money managers have mandates that require they invest in registered securities, and bitcoin itself is not a registered security. So for most institutional money managers, they can't touch bitcoin itself. The ETF would basically be the first time institutional money could really flow into bitcoin in a meaningful way.
The effect on price would be very profound. There's something on the order of $15 million to $60 million worth of bitcoin typically traded against the U.S. dollar on the world's major exchanges. If you're trying to source $300 million worth of bitcoin within a few days, there's really no way to do that—even in a normal market—without significantly disrupting the price.
Then you add into that the market where an ETF has just been approved and price is going to start rallying, liquidity's going to dry up really quickly just because nobody really wants to sell into that market. Everyone's going to want to hold their bitcoins in a time when the SEC has just approved an ETF.
At the same time, you're going to have a favorable shift in public perception away from "Bitcoin is only used for the sale of illegal goods" to "Oh, wow, the SEC has just given it a stamp of approval." And because you’d potentially have a much greater percentage of the population saving bitcoin, the propensity for the regulators to enact onerous regulation on bitcoin would at least decrease on the margin.
If you put all this together―you put this large sum of capital trying to flow into bitcoin at a time when price is already rallying, you add in the fact that there's a favorable shift in public perception, coupled with a marginal decline in regulatory risk―and the effect on price would be very significant.
ETF.com: The bitcoin price is up tremendously in the last year―about 150% in the past 12 months. How much of the run-up has to do with the ETF?
Bogart:I think very little of it has to do with the ETF. It's possible some of the recent price action has been related to the ETF. If at all, it's a small effect on the margin. It's mostly just about general growing adoption and a shifting perception.
ETF.com: If the SEC rejects the ETF, do you expect some kind of crash?
Bogart:I definitely don't expect a crash. There would be some downside to disapproval. We'll see price slump a bit, but I would guess it won't slump more than 10%.
ETF.com: If the SEC rejects the Winklevoss ETF, is there a chance it’ll revisit the issue down the line and another ETF can muster the support to come to fruition?
Spencer:Absolutely. This will be an ongoing process. The particular decision that we have coming up before March 11 is only related to the Winklevoss filing. There are two other major filings out there. Even if the SEC rejects the Winklevoss filing, eventually they will try to address whatever concerns the SEC has, and I wouldn't be surprised to see them go back and try to take another swing at this. But it's anybody's guess how long they would wait to do that.
ETF.com: Let me ask you about the underlying bitcoin fundamentals, aside from the ETF. What's the current market price and market cap of bitcoin? How much higher can it go?
Bogart:We're at about $1,000 today, which translates to a market cap of about $16 billion to $16.5 billion. How much higher can the price go? It's really anybody's guess. There's definitely a heavy percentage of total bitcoin ownership related to speculation.
I divide investors into two camps, and if you draw them on a Venn diagram, the overlap between them is probably extremely high.
For one, there are people who invest in it kind of as a commodity. These people invest in it for the same reasons they might invest in gold. They're assuming that for reasons outside of bitcoin, bitcoin will become more valuable. They believe maybe hyperinflation in a particular currency, a global financial crisis or things like that will drive up the value. Those are factors that are unrelated to bitcoin itself; they're external factors.
On the other side are people who almost look at it like a venture capital investment. They're thinking this is a payments network that is going to have a lot of value in the future, and they want to own a piece of that real estate.
Of course, there's a lot of overlap between both camps. I personally own bitcoin and I own it for both those reasons.
ETF.com: Is bitcoin like gold in the sense that it's difficult to put a price target on it? Can you say it's going to $5,000 or $10,000? Or is that just impossible to do?
Bogart:You can, but you're totally right. To some extent, you're pulling numbers out of the air. The way we look at it is, we ask, "Five years out, what percentage of the gold market might bitcoin be, and what percentage of payments volumes do we think bitcoin might account for?" And then we use a quantity theory of money to come up with what would be a fair price of bitcoin five years from now, and then use a discount rate to get that back to a present value.
We've done some of that work in the past. The last thing we published was a price target for $848. That was back when bitcoin was in the $500-600 range. We have not updated that price target since then.
Contact Sumit Roy [email protected].
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Permalink| © Copyright 2017ETF.com.All rights reserved || 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 theWinklevoss Bitcoin ETF (COIN)may not actually come until Monday, March 13.
The deadline to rule on this ETF is officially tomorrow, but there’s a clause in the SEC’s policy that if a deadline falls on a weekend, it’s 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 wouldn’t be a big deal if it weren’t 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 $1,300in anticipation of a SEC “yes” to this fund.
Here’s why this is such a big deal …
Bitcoin’s 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 isn’t one, he says. But in an ETF, it would fit that bill. If nothing else, having a bitcoin ETF approved would improve “public perception” and help manage some of the regulatory risk many associate with bitcoin’s unregulated status.
“In addition, retail investors would be able to get exposure to bitcoin directly from their brokerage accounts instead of establishing a separate account with a bitcoin exchange,” Bogart added. “The way to think about ETF approval is as a low-probability catalyst that could accelerate bitcoin’s already-rapid adoption growth.”
About COIN
COIN, led by Cameron and Tyler Winklevoss of Facebook fame, was first put in registration more than three years ago.
Designed as a grantor trust, COIN would do in-kind creations and redemptions much like a physical commodity ETF such as theSPDR Gold Trust (GLD), and the fund would use the Winklevoss’ own bitcoin exchange Gemini to set the price.
That comparison to gold has been often touted. In an interview two years ago, the Winklevoss brothers told an audience of advisors thatbitcoins are “better than gold”as a store of value, inflation hedging and access to a still-growing global ecosystem that’s the future of the payments industry.
That’s because the Winklevoss brothers see bitcoin as a commodity more than as a currency. “An investment in the bitcoin ETF is an investment in the future performance of bitcoin and the underlying bitcoin protocol, not an investment in a bitcoin company,” they said in aninterviewin 2014.
Mike Venuto, head of Toroso Investments, argues that, to investors, the bigger picture is that bitcoin is all about global commerce.
In arecent blog, he offered this perspective:
In a recent white paper, Deloitte & Touche described bitcoin as an “Internet of value exchange.” The real value of bitcoin is about the utilization of the infrastructure on which it is based. The more bitcoins are mined, or “hashed,” the more a free encrypted version of the internet is expanded. This self-reinforcing infrastructure that becomes more dependable as more people participate, is called the “blockchain.” It can be used in a way to transfer securities, to create artificial intelligence, secure real estate or art transactions and, potentially, for all kinds of other transactions. Look at bitcoin this way: 20 years ago, the internet democratized access to information, and now the bitcoin blockchain is democratizing access to commerce.
For now, access to bitcoin in an ETF can be found in theARK Web x.0 ETF (ARKW), which has a small allocation to bitcoins obtained through publicly traded shares of Grayscale’s Bitcoin Investment Trust(OTCQX: GBTC). That allocation currently sits around 5% of that portfolio.
But the launch of a strategy such as COIN would be “consequential,” Venuto says.
“In an age where asset allocation is its own asset class, a bitcoin ETF could have a place in many portfolios,” he said. “You can purchase bitcoins today. So, putting bitcoins into an ETF structure is not about making them accessible in a basic sense. It's about making bitcoins more accessible—that is, investable for any investor within a brokerage account.”
Contact Cinthia Murphy [email protected]
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Permalink| © Copyright 2017ETF.com.All rights reserved || Swedroe: Private Equity Adds Risk, Little Return: The term “private equity” is used to describe various types (e.g., buyout funds and venture capital funds) of privately placed (nonpublicly traded) investments. Even though buyout (BO) funds and venture capital (VC) funds have similar organizational and compensation structures, they are distinguished by the types of investments they make and the way those investments are financed.
BO funds generally acquire 100% of the target firm (which can be public or private) and use leverage. VC funds take minority positions in private businesses and do not use debt financing. Today BO funds account for about three-fourths of private equity deals.
Private equity (PE) excites many investors, offering the opportunity for spectacular returns (although, as with most investments, we generally hear only the stories with happy endings). Even the term conveys an exclusive nature, especially for investors who yearn to be “players.”
Capital committed to PE funds worldwide has risen substantially in the past two decades, thanks largely to U.S. pension funds searching for alternatives to public equity markets that might help them meet their return objectives. Endowments seeking to replicate the successes of the Yale Endowment have also contributed to the growth of PE funds. And it is reasonable to assume that high-risk, illiquid investments are priced by investors to deliver higher expected returns than publicly traded securities to compensate for the greater risk.
The Historical EvidenceSteven Kaplan and Berk Sensoy contributed to the literature on the performance of PE funds through an extensive survey of current research on the performance of private equity. Following is a summary of the findings from their October 2014 paper, “Private Equity Performance: A Survey”:
• BO funds have outperformed the S&P 500 net of fees by about 20%, on average, over the life of the fund.
• VC funds raised in the 1990s outperformed the S&P 500, while those raised in the 2000s have not.
• Before the 2000s, buyout and VC fund performance showed strong evidence of persistence.
• Since 2000, there is little evidence of BO fund persistence (with the exception of persistence among those in the bottom quartile, the worst performers), while VC fund persistence has remained strong.
Unfortunately, the returns data presented by Kaplan and Sensoy isn’t risk-adjusted. Private equity is really much riskier than an investment in a publicly traded S&P 500 Index fund, making it a wholly inappropriate benchmark. For example ...
• Companies in the S&P 500 are typically among the largest and strongest companies, while VC typically invests in smaller and early-stage companies with far less financial strength. Studies have estimated betas for BO funds at about 1.3 and for VC funds at 1.6 to 2.5. Adjusting for the higher betas alone would have erased any evidence of outperformance. Similarly risky but also publicly available small value stocks have also outperformed the S&P 500 by a wide margin—from 1927 through 2016, the S&P 500 returned 10.0%, while the Fama-French Small Value Index (ex utilities) returned 13.6%.
• Investors in private equity forgo the benefits of daily liquidity. It’s well-documented in the literature that investors will demand a premium for investing in illiquid assets, especially those that perform poorly in bad times (like PE). There’s no adjustment in the returns data for the risk of illiquidity. In addition to the lack of liquidity relative to investments in mutual funds, private equity investors also forgo the benefits of transparency and broad diversification (and for individuals, the ability to harvest losses for tax purposes).
• The median return of PE is much lower than the mean (the arithmetic average) return. PE’s relatively high average return reflects the small possibility of a truly outstanding return, combined with the much larger probability of a more modest or negative return. In effect, PE investments are like options (or lottery tickets). They tend to provide a small chance of a huge payout but a much larger chance of a below-average return. And it’s difficult, especially for individual investors, to diversify this risk.
• The standard deviation of private equity exceeds 100%, in comparison to standard deviations of about 20% for the S&P 500 and about 35% for small value stocks.
In their survey, Kaplan and Sensoy observed that the authors of the 2013 study, “Limited Partner Performance and the Maturing of the Private Equity Industry,” found that, in the more recent sample of PE funds raised between 1999 and 2006, there was no evidence that endowments outperform other limited partner types or display any superior skill at selecting general partners.
According to Kaplan and Sensoy, this study (which Sensoy also co-authored) concluded that “the disappearing endowment advantage is consistent with other secular trends in the industry, particularly the decline in VC performance since the late 1990s and the decline in performance persistence in BO firms.”
Latest Evidence
Reiner Braun, Tim Jenkinson and Ingo Stoff contribute to the literature on private equity performance and its persistence with their study, “How Persistent is Private Equity Performance? Evidence from Deal-Level Data,” which was published in the February 2017 issue of the Journal of Financial Economics.
Their findings were consistent with those of Kaplan and Sensoy. Their study covered timed cash-flow data at the deal level for 13,523 investments made by 865 buyout funds (not VC funds) run by 269 general partners (GPs). The investments were split roughly equally between the U.S. and Europe, with a few in other regions, and span the period 1974 to 2012. This is important, as most other studies examined only U.S. data.
The authors noted: “As well as being extensive and detailed, for the vast majority of the GPs in our sample we have their complete investment history. This is clearly critical when analysing performance persistence, and lack of completeness is a problem that has plagued earlier analyses. We source the data from three fund-of-fund managers who required all GPs who sought capital to provide this detailed deal-level information in a standardized format. Importantly, the sample includes all the GPs upon which the fund-of-fund managers performed due diligence, whether or not they actually chose to invest.” They also partitioned the data sample into an early period up to the end of 2000 and a later period from 2001 onward.
Following is a summary of their findings ...
• While there was evidence of performance persistence in the early period, it was weaker than performance persistence found in previous studies and has largely disappeared in recent years. The authors stated: “This is consistent with the PE sector maturing, with financial engineering and valuation techniques becoming commoditized, professionals moving between or forming new GPs, and the ways to create operational improvements to portfolio companies becoming assimilated across firms.”
• Competition has clearly increased in recent years, but not evenly over time or by region. When a large amount of capital chases deals, persistence tends to be lower.
• There is significant evidence of top-quartile performance persistence but only in low competition states. On the other hand, GPs who make bad deals tend to repeat, irrespective of the state of competition.
Braun, Jenkinson and Stoff concluded: “Overall, the evidence we present suggests that performance persistence has largely disappeared as the PE market has matured and become more competitive.”
They add: “Those Limited Partners (LPs) who were early investors in PE—such as endowments—established relationships with successful GPs which were valuable when the market was developing. However, those relationships, and access to funds—at least on the buyout side—are now much less valuable and are no longer a source of LP out-performance.”
For investors, the research has an important implication: If past performance provides little guidance on the choice of GPs, how can one identify the future top performers?
Swensen On Private EquityIf you’re considering investing in PE or sit on the board of a committee that is doing so, be sure to consider these sage words of advice from David Swensen, chief investment officer of the Yale Endowment: “Understanding the difficulty of identifying superior hedge fund, venture capital, and leverage buyout investments leads to the conclusion that hurdles for casual investors stand insurmountably high. Even many well-equipped investors fail to clear the hurdles necessary to achieve consistent success in producing market-beating active management results.”
In his book, “Unconventional Success: A Fundamental Approach to Personal Investment,” Swensen offered the following observation on BO funds: “Investors in buyout partnerships received miserable risk-adjusted returns over the past two decades. Since the only material differences between privately owned buyouts and publicly traded companies lie in the nature of the ownership (private vs. public) and character of capital structure (highly leveraged vs. less highly leveraged), comparing buyout returns to public market returns makes sense as a starting point. But because the riskier, more leveraged buyout positions ought to generate higher returns, sensible investors recoil at the buyout industry’s deficit relative to public market alternatives. On a risk-adjusted basis, market equities win in a landslide.”
Swensen also cited a Yale Investments Office study that provides some insight into the additional return required to compensate for the risk in leveraged buyout transactions. He writes: “Examination of 542 buyout deals initiated and concluded between 1987 and 1998 showed gross returns of 48% per annum, significantly above the 17% return that would have resulted from comparably timed and comparably sized investments in the S&P 500. On the surface, buyouts beat stocks by a wide margin. Adjustment for management fees and general partners’ profit participation bring the estimated buyout result to 36% per year, still comfortably ahead of the marketable security alternative…. Because buyout transactions by their very nature involve higher-than-market levels of leverage, the basic buyout-fund-to marketable-security comparison fails the apples-to-apples standard. To produce a risk-neutral comparison, consider the impact of applying leverage to public market investments. Comparably timed, comparably sized, and comparably leveraged investments in the S&P 500 produced an astonishing 86% annual return. The risk-adjusted marketable security result exceeded the buyout result of 36% per year by an astounding 50%age points per year.”
Summary
The bottom line is that if you’re willing, able and have the need to take more risk in search of higher returns, the most likely to place to find that is not in PE, but rather in publicly available small value stocks. And you can access these higher expected returns through low-cost, passively managed and tax-efficient funds. You can globally diversify their risks as well. In addition, you’ll have all the benefits of daily liquidity and transparency.
Larry Swedroe is the director of research forThe BAM Alliance, a community of more than 140 independent registered investment advisors throughout the country.
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Permalink| © Copyright 2017ETF.com.All rights reserved || 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) View comments
[Random Sample of Social Media Buzz (last 60 days)]
Dem rats are leaving the ship... #Bitcoin https://twitter.com/bobbyclee/status/832240294846345222 … || 1 #BTC (#Bitcoin) quotes:
$1262.00/$1265.68 #Bitstamp
$1256.99/$1257.48 #BTCe
⇢$-8.69/$-4.52
$1273.16/$1286.45 #Coinbase
⇢$7.48/$24.45 || "The whole point of Bitcoin is to be a global currency that everyone can use." https://t.co/16w5h4CYKZ || 360ドルです！ || http://ift.tt/2li3uRg BitFlyer Exchange Raises US$1.75m in Funding From Banks in Japan #Bitcoin #Blockchain || $1127.10 at 13:45 UTC [24h Range: $1111.00 - $1145.00 Volume: 6586 BTC] || #Bitcoin #Bitcoinbet Maui's Haleakala National Park sunrise is so popular, you have to pay to see it… via →… http://btf.st/Cloudbet pic.twitter.com/MmYAdPcaBr || Op Ed: The Fourth Industrial Revolution: Blockchain Tech and the Integration of Trust | Bitcoin Magazine http://bitcoinmagazine.com/articles/op-ed-fourth-industrial-revolution-blockchain-tech-and-integration-trust/ … || $1093.96 at 04:00 UTC [24h Range: $1060.00 - $1117.90 Volume: 10349 BTC] || DSC02328 https://goo.gl/t2aa6e http://ohiobitcoin.com/buybitcoin #bitcoin
|
Trend: up || Prices: 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-10-11]
BTC Price: 8321.76, BTC RSI: 38.45
Gold Price: 1482.70, Gold RSI: 43.92
Oil Price: 54.70, Oil RSI: 48.98
[Random Sample of News (last 60 days)]
Markets Stand Closer to The Edge: The Swiss franc and gold are also in demand, adding 2.5% and 7.2%, respectively, over the same period. Meanwhile, the shift in demand towards protective assets from risky ones was intensified by the development of unrest in Hong Kong, as well as the unexpected defeat of conservative President Mauricio Macri in Argentina. The Argentinean peso declined by 15% on Monday, fearing rejection of market reforms and a possible extension of the country’s debt default. GBPUSD: oversold The British pound fell on Monday to 1.2015, one step from its low after Brexit at 1.1980. The British currency has lost 4% since the end of July, as statements from both Prime Minister Boris Johnson and some of his ministers increased concerns about a no-deal Brexit. The pound seems to be on to the brink and is capable of dropping below 1.20 in the event of any careless formulations by officials. But at the same time, on the technical analysis side, the British currency looks oversold, making it attractive to long-term investors who can quickly get involved in buying, on the realisation that the worst case is already priced in. USDJPY: very high but far from interventions The levels of around 105 yen per dollar are in the area of extreme lows for USDJPY , where the pair fell for a while in March last year. In the past, it was due to the weakening of the dollar, but this time it was a propensity for protective assets. A year and a half ago, the Bank of Japan spoke negatively about the yen growth. In terms of the exchange rate, it is likely that this time we may see a change in the rhetoric of the Bank of Japan or the government. However, the current levels of 105 yen per dollar represent an intermediate step, while a tougher resistance from the Ministry of Finance or the Bank of Japan to yen growth is unlikely to be expected earlier than on the way to 100 – the psychologically important level from which the pair has unrolled since 2014. Stocks The Hang Seng index lost 2.3% to 25,300 on Monday, moving to previous market lows of October-December last year. The S&P500 lost 1.4% to 2,880 on Monday, failing to regain its earlier bounce. This morning, the indices remain close to the lows reached the day before. Markets are stable, but the current pause in weakening remains very tense. Story continues This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: Gold touches the Celling Monero Technical Analysis – Support Levels in Play – 13/08/19 Bitcoin Stood Still in Anticipation of Halving AUD/USD Forex Technical Analysis – August 13, 2019 Forecast Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/08/19 Oil Price Fundamental Daily Forecast – Hopes of Lower OPEC Production Underpinning Prices || Meet FumbleChain, the Deliberately Flawed Blockchain: FumbleChain makes breaking blockchains a sport. Demonstrated for the first time last Thursday at the Black Hat infosec event , the deliberately flawed technology is meant to act as an educational tool for crypto developers. “Basically, this what people call CTF, or ‘capture the flag,’” explained Nils Amiet, a senior security engineer at Kudelski and one of the developers behind the project. “Whenever you solve a challenge, that is when you get the flag. … The challenges are pretty technical.” Related: Shinhan Bank Teams With Kakao’s GroundX for Blockchain Security Boost Through these curated and gamified challenges, the aim is to teach users about the complexities of blockchain technology. According to Dan Guido, co-founder and CEO of cybersecurity firm Trail of Bits, which has audited over 20 different cryptocurrency projects, FumbleChain is similar to the wargames used in traditional software development. “Competitions and training exercises are used throughout the security industry, sometimes in live competitions of 30,000 or more players at one time, to help educate and demonstrate the knowledge that participants have gained,” said Guido, adding: “It’s long overdue for blockchain security to have its own wargame.” Related: Crypto Code Commits Remain Near All-Time Highs, Despite Price Declines Users collect game points dubbed “fumblecoins” every time they exploit a vulnerability in the FumbleChain blockchain and capture one flag. (The coins are only of value within the game itself.) Kudelski’s Amiet says FumbleChain’s core technology “looks a lot like bitcoin,” only simpler. Daryl Hok, COO of blockchain cybersecurity company CertiK, said FumbleChain is designed to make blockchain “approachable” for engineers coming from a diverse set of backgrounds. “[FumbleChain] provides a gamified, wargames model that may interest a broad audience with its approachability and incentives,” said Hok. “The project currently focuses on source code level attacks, as opposed to economically oriented attacks, but that may be something that is added in the future.” Story continues Indeed, Kudelski Head of Cybersecurity Research Nathan Hamiel hopes FumbleChain will take on a life of its own now that the code has been open-sourced on GitHub . “So many projects like this have a tendency to wither away as people move on to other things,” said Hamiel. “I feel the only way to have a successful project like this is to have it be open-source. … We’re hoping people continue to not only utilize but develop new challenges and really come on board and be a part of the project.” Lessons from battle FumbleChain was birthed after Kudelski completed a number of security audits for cryptocurrency projects including privacy coins Monero and Zcash , said Hamiel. The first challenge on FumbleChain simulates what is called a replay attack, where duplicate transactions are generated on two separate chains. This attack vector was a concern back in 2017 during the chain split between bitcoin and bitcoin cash. Other blockchain attack vectors identified on FumbleChain include transaction input validation, public key and wallet address mismatch, as well as denial of service or “spam” attacks. Speaking to these network vulnerabilities, Hamiel said: “The blockchain ecosystem has many of the same vulnerabilities that a traditional [software] ecosystem has. If you think about it at a low-level, a blockchain is not very useful without the ecosystem around it … exchanges, wallets, etc.” As such, FumbleChain also offers a browser-based web wallet and blockchain explorer to mess around with. Further expanding FumbleChain to include both smart-contract challenges and lessons on blockchain privacy are next steps both Hamiel and Amiet hope to see in the months to come. At the very least, says Marc Laliberte, a senior security analyst at WatchGuard Technologies, FumbleChain could have an impact on existing blockchain applications by creating opportunities for “hands-on” learning. Laliberte said: “Experience with identifying and exploiting common vulnerabilities is a great way to learn how to not make the same mistakes yourself. FumbleChain provides an opportunity for developers and enthusiasts to learn about common flaws and play around in a safe ecosystem, and then take that knowledge back to their own applications.” FumbleChain image via Kudelski Security Related Stories In Big Block Hard Fork, Craig Wright’s Bitcoin Has Left Nodes Behind South Korean Crypto Exchange Signs With Security Companies to Lock Down Tokens || Bitcoin drops below $9,000: Over the past several hours, bitcoin prices fell from $9,750 to as low as $8,590 a downswing of over 10%. According to data from Rekto , over the past 24 hours, derivatives exchange BitMEX saw over $380 million worth of XBT Perpetual Swap contracts liquidated. The low represents a new bottom over the past three months. || Argentina ETF’s Top Holding Can Weather Political Volatility: This article was originally published onETFTrends.com.
Down almost 32% over the past month, the once high-flyingGlobal X MSCI Argentina ETF (ARGT) , the largest US-listed ETF dedicated to stocks in Latin America's second-largest economy, is beset by political volatility.
One glimmer of hope for the Argentina ETF is its largest holding, online retailer and e-commerce giant MercadoLibre (MELI). While note immune to Argentina's political volatility (the stock is down 20% over the past month), MercadoLibre still has the makings of a winner, according to some analysts. That's a relief to ARGT investors because the ETF allocates 22.39% of its weight to MercadoLibre,according to Global X data.
“Argentinian primary election results and that decline represents a good entry point for investors, BTIG’s Marvin Fong said in a note to clients late Monday upgrading the stock ofthe Latin American e-commerce giantto Buy from Neutral,”reports Ben Walsh for Barron's.
Marvelous MercadoLibre
Argentine equities recently inched up after currency controls were implemented to restrict the purchase of the U.S. dollar and stabilized the Argentinian peso currency on Monday. The center-right government of President Mauricio Macri announced currency controls Sunday to stabilize the country’s deepening financial crisis,DWreports.
The newly imposed capital controls helped stabilize markets that have plunged to record lows since Macri, whom came to power as a free-market champion, was handily beaten in a primary vote last month, smothering hopes of a re-election in October. The subsequent market crash saw the peso depreciate 26% of its value against the U.S. dollar since August. Meanwhile, the country’s risk index surged and bond prices plummeted to record lows as well.
Related:Argentina ETFs Maintain Momentum on New Capital Controls
“A reasonable decline for the shares would have just about $70, Fong argued based on the 48% fall in the dollar-denominated value of Argentina’s stock market since the primary. That’s far smaller than the $120 drop that the shares have been hit with,” according to Barron's.
In other words, the most important stock in ARGT may have declined too much too quickly and if traders step back into the e-commerce name sensing a bargain, ARGT is poised to benefit.
For more information on the developing economies, visit ouremerging markets category.
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READ MORE AT ETFTRENDS.COM > || Equity Trust Partners with International Depository Services for IRA Bullion Storage Solution: DALLAS, TX / ACCESSWIRE / September 12, 2019 / Offering state-of-the-art precious metals solutions across the globe, International Depository Services Group announced today a new bullion storage partnership with Equity Trust Company , a leading custodian of self-directed Individual Retirement Accounts, also known as IRAs. While Equity Trust is expanding its presence in the market, this is only the second time in the past 10 years they have added an additional bullion storage option for their customers. International Depository Services Group was recognized for their experience in the precious metals market and high standard of customer care. Each International Depository Services Group location specializes in fully-segregated storage of physical gold, silver, platinum and other metals. Privately owned by Dallas-based precious metals wholesaler Dillon Gage, International Depository Services Group consists of three depositories that offer an array of custody and logistic services that meet the unique needs of the physical precious metals industry. The depositories are IDS of Delaware , IDS of Texas and IDS of Canada . International Depository Services Group protects, insures and stores physical gold, silver, platinum and palladium products, rare and certified coins, as well as wallets containing cryptocurrency assets such as Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ripple. Currently, IDS of Delaware and IDS of Texas are the two approved locations for Equity Trust’s IRA clients. The depositories within the International Depository Services Group are custom-built and offer secure, fully-segregated storage. All assets stored at International Depository Services Group locations are insured with Lloyd’s of London - a global leader of specialized asset insurance. Additionally, each location is managed by knowledgeable professionals with decades of bullion storage experience and extensive training in the rigorous inventory and reporting requirements associated with self-directed precious metals IRA accounts. Story continues “As one of the only depository groups in the nation that offers fully-segregated storage, we are honored to serve Equity Trust's IRA investors," said Terry Hanlon, president of Dillon Gage. “Our companies complement one another as we both value technological innovation, customer-centric solutions and outstanding customer service. Working together means that Equity Trust’s IRA investors now have additional choices when it comes to protecting and storing their hard-earned retirement assets.” “We are pleased to add a top precious metals depository to our already leading deposit and storage capabilities - continuing our practice of offering a variety of best-in-class solutions to our customers,” said Equity Trust Chief Executive Officer George Sullivan. Each International Depository Services location features a UL-rated, multi-redundant security system monitored 24/7 in real time by security specialists. Additionally, each site adheres to stringent “dual control” policies, including daily activity and full monthly audits of all precious metals inventory stored at the facilities. An added security measure is each location has the highest UL-rated, Class III precious metals vault. 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For more information, call 888-322-6150 or visit https://www.InternationalDepositoryServices.com . About Equity Trust Company Equity Trust Company is a financial services company that enables individual investors and financial professionals to diversify investment portfolios using alternative asset classes such as real estate, tax liens, private equity and precious metals. The Equity Trust family of companies offers custodial services for alternative investments and back-office solutions for Registered Investment Advisors, brokerage services, directed trustee services and more. Equity Trust Company is a passive custodian and does not provide tax, legal or investment advice. Equity Trust Company is the trusted custodian and administrator of $25 billion in assets on behalf of more than 170,000 clients as of Dec. 31, 2018. For more information, visit https://www.trustetc.com/ . Financial professionals visit https://www.equityinstitutional.com . 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Dillon Gage’s philanthropic arm, HELPS International , provides relief, development and educational opportunities to Guatemala. Learn more about Dillon Gage at https://DillonGage.com . Media Contact for International Depository Services Group and Dillon Gage: Jo Trizila, TrizCom Public Relations 972-247-1369 (Office) 214-232-0078 (Cell/Text) [email protected] SOURCE: Depository Services Group View source version on accesswire.com: https://www.accesswire.com/559428/Equity-Trust-Partners-with-International-Depository-Services-for-IRA-Bullion-Storage-Solution || Bitcoin Tech Analysis Recap and Mid-Morning Review 21/08/19: Bitcoin saw red on Tuesday, falling by 1.33%. Partially reversing Mondays 5.9% rally, Bitcoin closed out the day at $10,792.1. A spillover from a late Monday rally led to an early morning intraday high $10,993 before Bitcoin hit reverse. Selling pressure at $11,000 left Bitcoin short of the first major resistance level at $11,174.67. The reversal through the morning saw Bitcoin fall to an early afternoon intraday low $10,584. Bitcoin managed to hold above the first major support level at $10,490.67 to bounce back to $10,800 levels late on. Unable to move back into positive territory, Bitcoin slipped back to $10,700 levels in the final hour. The extended bullish trend, formed at 15 th Decembers swing lo $3,215.2, remained firmly intact. In spite of a pullback from a June swing hi $13,764, Bitcoin continued to steer well clear of the 60.2% FIB of $7,245. Of greater significance was a rebound through the 38.2% FIB of $9,734 to bring the 23.6% FIB of $11,275 back in to play. This Morning At the time of writing, Bitcoin was down by 5.81% to $10,165. A particularly bearish morning saw Bitcoin tumble from a start of a day high $10,825 to a mid-morning low $10,080. Falling well short of the first major resistance level at $10,995.4, Bitcoin slid through the first major resistance level at $10,586.40 and second major resistance level at $10,380.7. For the Day Ahead A move back through the second major support level at $10,380.7 to $10,400 levels would signal a rebound. Bitcoin would need the support of the broader market, however, to break back through to $10,300 levels. Barring broad-based crypto rebound, Bitcoin would likely fail to move back through the first major support level at $10,586.4. Failure to move back through the second major support level at $10,380.70 could see Bitcoin take another hit. A fall back through the morning low $10,080 would bring the sub-$10,000 levels and the third major support level at $9,971.7 into play. Story continues We would expect Bitcoin to steer clear of the 38.2% FIB of $9,734, however, in the event of an extended sell-off. Looking at the Technical Indicators Major Support Level: $10,586.4 Major Resistance Level: $10,995.4 23.6% FIB Retracement Level: $11,275 38.2% FIB Retracement Level: $9,734 62% FIB Retracement Level: $7,245 Click here to start trading The article was written by Bharat Gohri , Chief Market Analyst at easyMarkets This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update Strengthens Over $56.95, Weakens Under $55.72 U.S. Dollar Index Futures (DX) Technical Analysis August 21, 2019 Forecast EUR/USD Mid-Session Technical Analysis for August 21, 2019 Bitcoin Tech Analysis Recap and Mid-Morning Review 21/08/19 Asian Stocks Lower as Investors Keep US-China Trade Deal Optimism in Check Oil Price Fundamental Daily Forecast EIA Report Forecast Calls for 1.4 Million Barrel Draw || VanEck’s “limited Bitcoin ETF” is a big swing and a miss, brings in less than $41k: VanEck’s attempt to demonstrate demand for a Bitcoin ETF from institutional investors with a “limitedBitcoin ETF” has fallen flat.
Despite the investment management firm’s clever marketing whenannouncing the saleof its Bitcoin trust shares to “qualified institutional investors” last week, VanEck’s total net assets for its “limited Bitcoin ETF” sit atjust over $40,000.
In other words, it’s got right around 4 BTC under management so far.
The results are particularly disappointing given the expectations that exist among the crypto faithful that a true-blue Bitcoin ETF will eventually be the institutional-investor-powered rocket that sends BTC to the moon.
Then again, this was never arealBitcoin ETF, as critics of VanEck’s marketing ploy havepreviously pointed out.Thatproposed rule change, which would allow investors to buy into Bitcoin without having to reallybuy and hold actualbitcoins, has gone before the U.S. Securities and Exchange Commissionover and over againand beenrejected every time.
And there just doesn’t seem to be much demand for anything less than the real thing, according to economist and trader Alex Kruger.
"This trust is just a bad launch of a product for which there's not much demand," hewroteon Twitter. Others, however, such as Fundstrat cofounder and Bitcoin bull Tom Lee, were more optimistic. “I think it is too early to judge the success of the product,” hesaid.
We’ll see.
But, for now, those who have their hopes set on a Bitcoin ETF sending BTC soaring to new all-time highs will have to keep waiting—probably for a lot longer, despite recent comments from SEC Chairman Jay Clayton.
On Monday, Clayton was asked (yet again) about the prospect of a Bitcoin ETF from the SEC’s perspective, this time on CNBC. “Are we any closer” to a Bitcoin ETF? CNBC host Bob Pisani asked. “Yes, but there's work left to be done," Clayton responded.
The comments lit cryptoland abuzz with excitement,just like the last timethe SEC said anything even mildly optimistic about the eventuality of a Bitcoin ETF. A more discerning few, however, such as former securities litigator Jake Chervinsky, were not impressed.
“To understand the language of DC, you have to read between the lines,” Chervinskyexplainedin a Twitter post. "Chairman Clayton's message here is: ‘someday a Bitcoin ETF will be approved, but that day ain't today.’ The manipulation issue still hasn't been resolved, and we don't even know where the SEC falls on custody."
In other words, it’ll probably be a while—if it ever happens at all. || Report: Bitcoin searches on Google mirror how much the currency is worth: Bitcoin's price is more heavily correlated with Google searches than you might think. According to data providerSEMrush, there's an 80% correlation between the two. That means four out of five times, whenever Bitcoin's price rises, so does search volume.
The correlation compared the average monthly Google search volume for Bitcoin (that peaked at 45.5 million in December 2017) with the average monthly traded price for bitcoin in dollars.
The dataset goes all the way back to Sept 2015, when Bitcoin was trading at just $225, and Google search interest was only 1 million a month.
It's hard to pin down exactly where the causation lies but we can take a stab.
It's fairly clear that a rising Bitcoin price leads to more news articles and general awareness, causing an increase in search volumes. And it's possible this creates a virtuous circle, where more people searching for Bitcoin end up buying some—raising the price even more. But on the other hand, it's possible people are finding out about Bitcoin by other means and then searching for ways to buy it.
The firm found that there was an even higher correlation for XRP, at 86%, with other altcoins seeing similarly positive correlations, such as Ethereum (74%) and Litecoin (71%).
And like most things in crypto, someone's already tried to manipulate the system. In September searches for BTC–Bitcoin's price tickersurgedin the first week of September. Some commentators havesuggestedbots were being used to inflate searches in order to manipulate other bots that use search volume as an indication of how they should trade.
But for now, it remains a mystery. || To Cut Rates Or Not To Cut Rates, That Is The Question: This article was originally published on ETFTrends.com. With the global economy stagnating, Brexit looming on the horizon, an ongoing trade war with Beijing, and an economic slowdown from China that has sent reverberations throughout emerging market economies, which have seen a decline in exports, experts are now split on whether or not the Fed should raise interest rates, as they try to gauge the state of the economy. At least one expert believes the Fed should continue its judicious approach to rate cuts, claiming the economy is more robust than many believe. If the Fed is going to let the market dictate what theyre going to do, they shouldnt even be on the Fed board. For god sakes look at the economy; look at the interest rates; look at where unemployment is; look at what the consumer is doing. The market is being toiled with by traders, not investors. So the bottom line is: companies are making a lot of money; their cash flow is huge. Their buybacks are huge. Their dividends are increasing. Everything is there, but you cant have the stock market or the bond market dictate whats going to happen with interest rates, said Neil Hennessy of Hennessy Funds on CNBC . What's The Fed To Do Yield inverted for what 10 minutes because traders inverted it. It went back-and-forth. The reality of the world is that we havent seen in our lifetime interest rates this low, companies doing this well, and the economy continually being strong in the face of the headwinds that we have been facing. And if you look at it really were just recycling every headline, Hennessey added. Like the president, other experts feel that the Fed should be even more hawkish, and cut rates quickly to stem any economic issues that are likely to arise. The reason the Fed should go more is the markets are basically telling us they should go more. And I hear Neals point about the Fed basically always kowtowing to what markets want. But I argue one thats been the case for a long time. If the Fed doesnt move more aggressively, markets will basically force them to do so, as what happened last December and early this year, Joe LaVorgna, Natixis chief economist explained. While the Fed cut rates by 25 basis points in July, despite steady economic growth, LaVorgna champions more hefty cuts. Related: Smart Beta Could Help Ease the Fed Rate Guessing Game So Id like to see them go 75 this month. I know theyre not gonna do it. Why? Because the fed funds rate is 2 1/8 and the 10-year note is below 150, and even 50, unless they pledge to do a lot more, 50 wont do it. And Im worried theyre only gonna go 25, theyre going to send them next message as your segment is highlighting and will be sitting here wondering if inter-meeting or cutting in October, said LaVorgna. While there is much debate about where the markets are headed, if the stocks are poised for a rocky ride ahead, traders can take advantage of market oscillations with leveraged S&P 500 ETFs, such as the Direxion Daily S&P 500 Bull 2X ETF ( SPUU ) , Direxion Daily S&P500 Bull 3X ETF ( SPXL ) for gains and the Direxion Daily S&P 500 Bear 1X ETF ( SPDN ) for declines. For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM Story continues SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals Could Inverse ETFs Thrive In September? Social Media Stock SNAP Gets An Upgrade Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty Q&A With Barry Ritholtz on New WealthStack Conference READ MORE AT ETFTRENDS.COM > || An Early Bitcoin Millionaire Loses Love for the Industry: (Bloomberg) -- As Bitcoin crashed 20% in late September, Jered Kenna -- one of the first Bitcoin millionaires -- returned to Twitter after a three-year hiatus with a startling statement, saying he lost the love for the industry. In the early days, all we talked about was things that actually had substance, and very few people were talking about making money, Kenna said in a phone interview last week from Texas, one of his home bases. And now the only thing people focus on is making money. Kenna, who is 37, said he owns only half a Bitcoin, valued at about $4,000. He used to hold thousands, initially bought for cents on the dollar, and headed TradeHill Inc.-- the U.S.s first cryptocurrency exchange -- handling a quarter of all global Bitcoin trades. He got into the industry not to make money, though, but to change the world, Kenna said -- and has became disillusioned in recent years because instead of revolutionizing payments and challenging the banking system, crypto became all about speculation. Hearing an ad on his car radio several years ago, encouraging people to mortgage their homes to buy Bitcoin, took him aback. The Initial Coin Offerings craze of 2017, in which startups raised billions by selling digital coins mostly to retail investors, and then often disappearing with the funds, or not delivering any real products, was another blow. More recently, exchange-based coin offerings have taken center stage -- many of them likely as bad, he said. Many of his old crypto friends feel the same way, Kenna said, though few are getting out since they are still practically minting money. Then theres also the prestige. I was in Miami last week and I went to a crypto event, and it was full of beautiful models looking for men, he said. I was like, this has changed, recalling gatherings full of tech geeks years ago. He is not cryptos only defector: Roger Ver, known as Bitcoin Jesus for proselyting about the digital coin, now speaks against it and had split off to create a rival token. Story continues Many of the old-timers had unrealistic expectations about Bitcoin, and didnt like it getting commercialized, said Nic Carter, co-founder of crypto tracker Coin Metrics. Lots of the early Utopian builders naturally got disillusioned, he said. Thats to be expected. He calls the departed, so many lost souls. Kenna has gotten out partly involuntarily: He accidentally erased 800 Bitcoins (valued at about $6.5 million now) from his computer in 2010, and then lost millions of dollars worth to a hack in 2016. He has since chosen to rebuild his life outside of the crypto world, creating what he said is the largest independent craft brewer in Colombia, and building out a co-living tech space in San Francisco -- built from the ashes of his crypto wealth. Back in 2016, right before he was hacked, Kenna sold half his crypto, and invested the money into a small brewery in Colombia, where he went thanks to a Colombian girlfriend who wanted to move home. We split up after a while, and I decided to stay and open the brewery, he said. 20Mission Cerveza -- which looks like your typical upscale pub, with lots of unfinished wood, a stage for a blues band and giant chandeliers -- is also now making tonic and ginger beer. The brewerys website is in Spanish, except for its slogan, stay classy. Kenna is now raising money to expand the business, and wants to start importing the beer to the U.S. Back in 2012, he also bought a building in San Francisco using his crypto wealth, and turned it into the 20Mission co-living space for techies and artists. There are 41 bedrooms and shared bathrooms and kitchen. Kenna is considering buying a 144,000-square-foot middle school near Boston to convert that building into a similar co-living space, with 400 rooms and a tech incubator. Kenna has been mostly out of crypto since 2016, when he said a hacker purchased a phone in his name. The hacker then changed his email passwords, took over some 60 accounts and stole millions, he said. Kenna was so stressed out, he said he had to go to a hospital, and has been on blood-pressure medication since. The hack took my entire life, Kenna said. Just then, he was getting ready to relaunch a new crypto exchange, an effort that the hack derailed. Started in 2011, TradeHill closed its doors in 2012, citing a need to get money-transmitter licenses and because of difficulty of finding a bank willing to work with it, among a host of reasons, he said. In addition to his half a Bitcoin, Kenna said he owns a few thousand XRPs and a stash of a lesser known coin, which he invested in two years ago. He doesnt think crypto will disappear altogether. Lets say its 90% speculation, he said. Well, casinos are 100% speculation and they are still around. (Updates reference to San Francisco building in 11th paragraph.) To contact the reporter on this story: Olga Kharif in Portland at [email protected] To contact the editors responsible for this story: Jeremy Herron at [email protected], Dave Liedtka, Rita Nazareth For more articles like this, please visit us at bloomberg.com 2019 Bloomberg L.P.
[Random Sample of Social Media Buzz (last 60 days)]
【BTC Mentioned 126 Times On Twitter In The Last Hour】As observed by https://t.co/h20s0Y2G3K, statistics by https://t.co/odF6XagaRd show BTC was mentioned 126 times on Twitter in th...https://t.co/DIXS3lpvay || Bakkt to Require $3.9K Down Payment on Bitcoin Futures Contracts - CoinDesk... https://t.co/ROaVGVcCdl || Bitcoin faces selling pressure and builds new support around $8000 https://t.co/mlZqcitj1z
#btc #bitcoin #crypto || After Multiple False Starts, Venezuela May Have Its First Bitcoin ATM #Bitcoin https://t.co/8iuj9CkvfT || @sanrenfa he most thrilling way to earn barginex bitcoin || BTC 2
雲との乖離
これは日足の雲ですが、過去2度と比較して、一目雲を下抜けした後の戻しが早いです。
つまり乖離率が減少傾向にあります。
これはトレンド転換の典型的なパターンである、収束型の過程の一部です。
このことからも今回トレンド転換への期待が持てる根拠が得られます。 https://t.co/Q43rhqlztt || BTC $10164.86 Down -$11.02 -0.11% in the last hour #bitcoin #bitsmart || Binance - BTC Market
#WAN - Unusual selling activity
8.10 BTC in 3 minutes (12%)
B: 0.00002196 🔴 (1.52%)
A: 0.00002200 🔴 (1.39%)
24H Vol: 78.39 BTC
Last signal: 4 days ago (1/7D) || Royalty Free Music Marketing)
@joseluisintwite - E-Marketing - Twitter - News - Noticias - Bitcoin - CryptoCurrency https://t.co/itOhzYMaav || Thailand’s Top Crypto Exchange Closes its Doors Unexpectedly, Sells BTC For $9k - https://t.co/O7Ix7c2ctG https://t.co/KiwFKtwnOj
|
Trend: down || Prices: 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-07-09]
BTC Price: 269.23, BTC RSI: 66.14
Gold Price: 1159.00, Gold RSI: 41.36
Oil Price: 52.78, Oil RSI: 33.47
[Random Sample of News (last 60 days)]
Europe's nine hottest tech firms right now: Europe is producing more $1-billion-dollar technology start-ups --or "unicorns"-- than ever before, as investors pour money into the region's stars.
Funding for tech firms in the region almost doubled from $2.88 billion in 2014 to $5.65 billion so far this year, according to GP Bullhound, the technology-focused investment bank.
As part of London Technology Week, an awards ceremony -- The Europas -- identified some of Europe's hottest tech companies, with a panel of judges made up of venture capitalists and journalists deciding the victors.
Companies were nominated across 25 different categories, including best e-commerce start-up and best entertainment start-up.
Here are some of the winners.
Winner: Spotify
Despite being nine years old, music-streaming service Spotify won this award, as it continues to "change the music industry," according to the organizers of The Europas.
The Swedish start-up recently raised a $526 million round of funding giving it a valuation of over $8 billion. Spotify has 20 million paying subscribers, and 75 million members overall.
But Spotify has come under fire from those in the music industry and has been accused of paying low royalties to artists. Last year, pop star Taylor Swift pulled her whole music collection off the platform in protest.
Spotify is now competing in an extremely tough market with competition from the likes of Apple Music, Jay Z's Tidal service and Google.
Other nominees in the category included Shazam and Soundcloud.
Winner: Deliveroo
It seems that we cannot get enough of food delivery companies, and Deliveroo impressed the judges most.
The London-based start-up allows people to order food from restaurants like Ping Pong and Gourmet Burger Kitchen and have it delivered. Earlier this year, Deliveroo received a $25 million round of funding from Accel Partners.
Other nominees included another food service Delivery Hero and Hello Fresh.
Winner: Citymapper
Citymapper won three awards at The Europas including "best travel start-up" and the coveted "grand prix" prize.
It's an U.K.-based urban navigation app designed to help people get around some of the world's biggest cities.
Last year, Citymapper got a $10 million round of funding led by London-based Balderton Capital.
Other nominees in the category included YPLan and Wallapop.
Winner: Adyen
Adyen is Netherlands' first "unicorn" and provides much of the back-end technology for online, mobile and in-store payment systems.
Last year, the Dutch company raised a $250 million round of funding led by General Atlantic, Temasek and Index Ventures.
Fintech has become an increasingly hot space, with companies looking to disrupt the businesses of major financial institutions.
Other nominees in the category included money transfer service TransferWise, and peer-to-peer lending platform Funding Circle.
Winner: Digital Shadows
Cybersecurity has been in the headlines over the past year following a number of high-profile attacks on companies.
Digital Shadows describes itself as a "cyber threat intelligence company" aimed at protecting businesses from dangerous hack attacks and data loss.
The London-based start-up recently bagged $8 million in funding.
Other nominees included email encryption company Whiteout Networks and security intelligence firm Cyberlytic.
Winner: Blockchain
Blockchain is the world's most popular bitcoin(: BTC=)wallet provider, offering storage and enabling people to buy things with the cryptocurrency.
The company also provides information and data on the block chain - the public ledger of bitcoin transactions.
A number of investors have questioned the future of bitcoin, claiming that the underlying block chain technology will be more important in the future. Still, this has not stopped people talking about the digital currency.
Last year, Blockchain raised $30.5 million in funding, after rival Bitpay announced a $30-million funding round.
Other nominees in the category included bitcoin payment processing company Bitpay, and a bitcoin transaction start-up Safello.
Winner: Space Ape Games
So-called "casual gamers" are set to drive $30 billion of revenues to the mobile games markets this year, according to market research firm Newzoo, and start-ups are capitalizing on this.
Space Ape Games is a mobile gaming company behind popular title Samurai Seige.
The British start-up raised $7 million of funding at the end of last year led by Accel Partners.
Other nominees in the category included Moshi-Monster-maker Mind Candy and another mobile gamemaker, Omnidrone.
Winner: Hassle.com
Everything nowadays is on-demand and can be ordered from a smartphone. At The Europas, it was Hassle.com - a service that allows you to order a cleaner straight to your door - that took the prize in this category.
The sharing economy refers to the swathe of start-ups that allows users to rent things owned by others, such as Airbnb or BlaBlaCar.
Hassle.com raised around $6 million in a funding round last year.
Other nominees in the category included ridesharing app BlaBlaCar, and parking space booking app JustPark.
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• Personal Finance || The semiconductor trade: 4 stocks to watch: Applied Materials(NASDAQ: AMAT)' earnings beat Thursday may provide a reason to buy into the battered semiconductor space, CNBC"Fast Money"trader Brian Kelly said.
The company-which makes technology used to manufacture chips-beat Wall Street's earnings expectations as total orders rose 11 percent year-over-year. Shares rose 2.5 percent in extended trading to more than $20 per share.
Read MoreAfter-hours buzz: El Pollo Loco, King, Party City & more
"I would be a buyer of Applied Materials here," Kelly said.
Big-name stocks in the sector, including Qualcomm(NASDAQ: QCOM)and Micron(NASDAQ: MU), have suffered this year. Trader Jon Najarian looked to stocks that have performed well while some peers struggled.
He pointed to Broadcom(NASDAQ: BRCM), which he called a "monster" as it has climbed more than 50 percent in the last year. Najarian also liked Maxim Integrated Products(NASDAQ: MXIM), which has climbed 7 percent this year.
Maxim jumped more than 4 percent Thursday on reports that Avago(NASDAQ: AVGO)has shown interest in buying it.
NXP Semiconductors(NASDAQ: NXPI)also looks to have upside despite an "incredible rise," said trader Steve Grasso. The company-which has a hand in credit card system components-has soared 34 percent higher this year.
Disclosures:
Jon Najarian
Jon Najarian is long AEP, BBY, CS, CSLT, EXXI, FEYE, GE, HFC, HSBC, HUN, HZNP, JWN, MAS, MCD, MDRX, MRVL, MW, NEE, NRG, NUGT, OAS, OC, PG, PVA, RHT, RRC, RYL, SCTY, SIMO, SIRI, SKX, SOL, SYK, TAP, TEVA, TTWO, TLT, VIX, WMB, UPS, XLI, YPF and ZIOP. He is long calls AKS, BBY, CTXS, EQT, EWJ, FB, GE, GREK, GRPN, GSK, GTI, IDTI, JWN, LNKD, MCD, MDRX, MT, MYL, NTAP, NUAN, OAS, PG, PPC, PRU, RAD, SAP, SIMO, SKX, SNDK, TAP, UPS, VALE, WFM and XLK. He is long LOCO puts. Today, he bought AEP, JWN, NUGT, UPS, JWN calls MT calls, UPS calls and LOCO puts.
Steve Grasso
Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long MCD, AXP, IBM, KO, TWTR and ZNGA. His kids own EFG, EFA, EWJ, IJR and SPY.
Karen Finerman
Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short SPY. Her firm is long AAPL, ANTM, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, M, KORS, SUNE, URI and XBI. Her firm is short IWM, SPY, MDY. Karen Finerman is on the board of GrafTech International.
Brian Kelly
Brian Kelly is long DXGE, BTC=, BBRY, SPY puts and U.S. dollar. He is short Australian dollar, euro, yen and yuan. Today, he bought DXGE and sold short euro.
More From CNBC
• Top News and Analysis
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• 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. || SendChat Crowdfunding For iPhone App, Android App Supporting Bitcoin, DOGE, USD Begins – Instant Messaging And Transactions: SendChat Prepares to Launch a Digital Currency Messenger App for iOS and Android, that will Allow Users to Send and Receive Bitcoin, Sendcoin, and Other Digital Currencies with USD, AUD, CAD, EUR, GBP and More Instantly - Parallel to Messaging
NEW YORK, NY / ACCESSWIRE / May 12, 2015 /The use of Bitcoin can be overwhelming for most new users. There are many new elements to consider when switching from existing fiat channels to that of a digital currency. Moreover, there are some boundaries that can limit the overall adoption. Such things as security, education and overall understanding of this new technology. This is where the SendChat messaging app team haveproposed a new application to overcome such boundaries whilst proving a platform for new and existing users to be involved with digital currencies.
Imagine being able to send and receive bitcoins and other digital currencies - that will be introduced over time - without worrying about the learning curve, security, safety or privacy and in this case are as easy as sending a message. SendChat has been able to achieve this by surrounding itself with pioneers within each field.
As CEO Alejandro De La Torre explained, "SendChat is a fun and easy way to communicate and send digital currency using the blockchain. The platform incorporates the existing technologies of Telegram and Blocktrail to deliver a platform with privacy and security in mind. With SendChat, users can send digital currency such as Bitcoin and Sendcoin to their contacts, creating an exciting solution that can cater to both new and existing mobile users...Many products coming to market in the blockchain space are cumbersome, and not very easy to use. Non-technical users often have difficulties completing the most common tasks in such applications. With SendChat you can send digital currencies effortlessly, and chat with your friends while you do it."
The Telegram platform along with its security features have been incorporated within its shell to ensure users that their messaging remains free, easy, safe and without interruption. An open source application that has accumulated over 50 million users due to its successful design and system architecture.
Individuals from all around the world can get involved with this revolutionary application byjoining the crowdfund hosted by BlockTrust starting May 10th. They have ensured the safety and security of all funds put towards this project through their robust and thoroughly tested infrastructure that has been designed with one thing in mind - peace of mind for backers.
BlockTrust - a leader in digital currency crowdfunding - has been selected to stand as the gateway during this stage that will seek to raise the capital needed for its embankment. Finally with the support of the blockchain technology everyone can rest assured that the tokens issued by the platform - named SEND - benefit from the same level of integrity to that of Bitcoin.
It is also worthy to note that the most important aspect of this platform, one that will see its users benefit by being able to purchase digital currencies using existing and widely used currencies - such as USD, AUD, CAD, EUR, GBP and others - through its internal system.
Users can also trust that their personal wallets are kept safe through the services offered byBlockTrail, another powerful partner that stands for security. As mentioned by the BlockTrail CEO, Boaz Bechar, "BlockTrail is a Bitcoin API and multisignature security platform, enabling scalable and secure Bitcoin for developers and enterprises."
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only and should not be taken as investment advice.
For more information about us, please visithttps://blocktrust.org/#/offeringFeature/SendChat.
Contact Info:
Name: Alejandro De La Torre, founder and CEOEmail:[email protected]: SendChat
Video URL:https://www.youtube.com/watch?v=BlkTilDKOTI
SOURCE:SendChat || MovieTickets Sees Benefit In Adding Bitcoin: Weeks after MovieTickets.com included bitcoin as a payment option for ticket purchases, the company said it had already begun to reap the rewards.
MovieTickets CEO Joel Cohensaidthat the decision to include cryptocurrency payments has given the company more exposure as well as increasing sales.
The site allows users to purchase any available movie tickets using the cryptocurrency, and it appears consumers are taking advantage of that option.
Adding Bitcoin
MovieTickets is one of the most popular online ticket-purchase websites in the US with around 240 different theater chains offering film tickets on the site. As mobile payments gain traction, the site found itself adding new check-out options; and with support from Open Road Films and its new film Dope, the site decided to include a bitcoin option as well.
Bitcoin Exposure
The site's bitcoin integration represented a major step toward mainstream adoption for bitcoin as it put the cryptocurrency in front of thousands of people who may not have otherwise considered using it. To date, Cohen says the company has processed "several hundred" bitcoin transactions.
Paving The Way
MovieTickets said that one of the biggest hurdles in incorporating bitcoin was educating theater owners on the process. With many of them wary of the cryptocurrency or simply unaware of it at all, the site had some difficulty getting everyone comfortable with using bitcoin.
For the moment, bitcoin transactions remain only a small fraction of MovieTickets' sales, but Cohen says he expects to see that figure continue to increase as the currency becomes more widely accepted.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bit-X Financial Corp (BITXF) Provides Update on Launch of Bitcoin Exchange: "GO LIVE JUNE 2015"
VANCOUVER, BC / ACCESSWIRE / May 21, 2015 /Bit-X Financial Corp.(BITXF), a crypto-currency exchange and internet financial services company, today announced that the test environment for the bitcoin exchange is progressing well and on track to go-live in June 2015.
Users can now pre-register on the company's website atwww.bitxfin.com. "We are very excited to launch our platform as the global interest and recognition of bitcoin rises within the established financial communities," stated Brad Moynes, President of Bit-X Financial. "Our Go Live Date is fast approaching and being able to provide our users an on-ramp advantage will boost awareness to our platform."
As previously announced, in April, Bit-X Financial Corp. executed an Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX for the North American market. The proprietary ANX trading and matching engine has been pioneered from the ground up, leveraging the skills of experienced developers with respected and long standing careers working for low latency software development firms. It is designed to manage high volume, high throughput, and low latency trading and was modeled on the same LMAX pattern now also leveraged by the world's largest Investment Banks.
This investment banking grade trading platform has a simple and user friendly UI for users to buy and sell all major crypto currencies. It also features one consolidated shared order book for blended multi-currency settlement in addition to real time FX pricing and risk management.
The order engine delivers pre-scan indicative pricing and users can choose to either fix the quantity of Bitcoins or fix the price paid for every order. Lock in a guaranteed execution or alternatively lock in the ultimate price you're prepared to pay for your order; the choice remains yours. And this all relies on an order engine that achieves low latency performance along with the reliability of an exchange that has been verified in supporting millions of daily transactions.
ABOUT BIT-X:
Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. Bit-X Financial Corp has executed an exclusive North American crypto-currency exchange development and services agreement with Hong Kong based ANXPRO. BITXF for 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."
CORPORATE CONTACT INFORMATION:
Bit-X Financial Corp838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.bitxfin.com
Media inquiries:
Bit-X Financial [email protected]
SOURCE:Bit-X Financial Corp || Will Greece's Financial Woes Ever End?: Negotiations between Athens and its creditors continued to drag on this week, despite what most believed would be a bank-breaking loan repayment coming due on Tuesday. Somehow, Greece continued to scrape by without defaulting, despite having what most expect is a nearly empty vault. Comments from both sides have indicated that a resolution is nowhere in sight, as they remain at odds regarding several fundamental aspects of Greece's bailout agreement. Out Of Cash? On Tuesday, Greece was able to repay its 750 million International Monetary Fund loan, but many believe the tide is quickly rising as more payments loom on the horizon. This week's payment was meant to put leftist leader, Prime Minister Alexis Tsipras, in the difficult position of choosing between paying the nation's wages and pensions or repaying the loan, but the Greek prime minister avoided that conundrum by using Greece's own reserve funds at the IMF to make the payment. Related Link: No Bailout Agreement Expected For Greece, Despite Looming IMF Payments It remains to be seen whether or not Athens has enough cash in its reserve to pay public sector wages at the end of the month, and the nation is almost surely short the 1.5 billion needed to repay further loans in June. What Now? The increasingly dire financial situation in Greece is likely to help move negotiations for its bailout aid forward; however, so far it seems that Tsipras is unwilling to bend to the EU's will, despite his lack of funding. Tsipras was elected on promises to reverse austerity cuts and get a better bailout deal, and he has remained adamant in his demands for more budgetary freedom. Despite that, Greek officials have said they are optimistic about reaching an agreement to release the next installment of bailout funding by the end of May. Related Link: UBS Outlines Grexit Scenarios Then It's Over? Even if Greek officials and EU policymakers come to an agreement by the end of May, Greece won't be out of hot water. Story continues The nation's bailout program expires at the end of June, meaning that Tsipras and the Syriza government will have to work with EU officials to extend the nation's funding again, bringing on an entirely new round of negotiations. Image Credit: Public Domain See more from Benzinga The Internet Of Things Getting A Push From Intel And Samsung Marijuana Shortages Point To A Developing Industry Bitcoin Making Progress In Europe © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 MoreMcD'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 MoreShake 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.
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.
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• Personal Finance || Bit-X Financial Corp (BITXF) Provides Update on Launch of Bitcoin Exchange: "GO LIVE JUNE 2015" VANCOUVER, BC / ACCESSWIRE / May 21, 2015 / Bit-X Financial Corp. ( BITXF ), a crypto-currency exchange and internet financial services company, today announced that the test environment for the bitcoin exchange is progressing well and on track to go-live in June 2015. Users can now pre-register on the company's website at www.bitxfin.com . "We are very excited to launch our platform as the global interest and recognition of bitcoin rises within the established financial communities," stated Brad Moynes, President of Bit-X Financial. "Our Go Live Date is fast approaching and being able to provide our users an on-ramp advantage will boost awareness to our platform." As previously announced, in April, Bit-X Financial Corp. executed an Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX for the North American market. The proprietary ANX trading and matching engine has been pioneered from the ground up, leveraging the skills of experienced developers with respected and long standing careers working for low latency software development firms. It is designed to manage high volume, high throughput, and low latency trading and was modeled on the same LMAX pattern now also leveraged by the world's largest Investment Banks. This investment banking grade trading platform has a simple and user friendly UI for users to buy and sell all major crypto currencies. It also features one consolidated shared order book for blended multi-currency settlement in addition to real time FX pricing and risk management. The order engine delivers pre-scan indicative pricing and users can choose to either fix the quantity of Bitcoins or fix the price paid for every order. Lock in a guaranteed execution or alternatively lock in the ultimate price you're prepared to pay for your order; the choice remains yours. And this all relies on an order engine that achieves low latency performance along with the reliability of an exchange that has been verified in supporting millions of daily transactions. ABOUT BIT-X: Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. Bit-X Financial Corp has executed an exclusive North American crypto-currency exchange development and services agreement with Hong Kong based ANXPRO. BITXF for 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." CORPORATE CONTACT INFORMATION: Bit-X Financial Corp 838 West Hastings Street, Suite 300 Vancouver, BC V6C-0A6 Canada Tel: +1(604) 200-0071 Fax: +1(604) 200-0072 www.bitxfin.com Story continues Media inquiries: Bit-X Financial Corp [email protected] SOURCE: Bit-X Financial Corp View comments || Want to think like a VC? Read these books: In this installment of CNBC's summer reading series , we caught up with Bill Tai, a venture capitalist, entrepreneur and avid kiteboarder. He co-founded MaiTaiGlobal.org with Susi Mai, where they hold networking events all over the world for entrepreneurs, innovators, investors and athletes, centered around kiteboarding. So, what's he reading? This summer, I have several books on my list - three new ones and one that I am re-reading to build my knowledge base to build something cool. I am a voracious reader and travel a lot for my MaiTai gatherings, so, I typically will read on those long flights. Here's what's on my list: By Peter Ward " Out of Thin Air " is about the impact of variations in oxygen levels in the atmosphere on the evolution of animals. As an athlete, I am intrigued that slight advantages in a person's capacity to efficiently extract oxygen from the air can mean the difference between performing at the level of a world champion and being in the middle of the pack. After all, wasn't better oxygen utilization what Lance Armstrong was after by blood doping? This book touches on both our own evolution and what the impact might be of today's polluted atmosphere on our health. Read More MaiTai: The 'golf course' of Silicon Valley By Phil Lapsley " Exploding the Phone " is the back story of the "hacker culture" of the software-developer community. Apple ( AAPL ) co-founder Steve Wozniak wrote the forward because it was this community that drew him and Steve Jobs into the tech industry. Their first company was not Apple. Their first venture was building and selling little hacker boxes called "blue boxes" in an underworld of "phone phreaking," allowing users to play a tone into phones that allowed free long-distance phone calls. By Michal Casey and Paul Vigna " The Age of Cryptocurrency " was just published in April of this year. Recently, I got lucky by investing in and becoming a board member of BitFury, which has become one of the world's largest bitcoin-mining companies and I want to keep building my knowledge in this space. This book looks like it is the most current collection of stories on all the relevant players and their opinions on how Bitcoin and other digital currencies may affect the world of global finance as we know it. Story continues Read More Bitcoin could shift the balance of power in Greece By Hernando de Soto I am also re-reading a classic, " The Mystery of Capital ," which has new relevancy because of the rapid advances in software technology that enables the "sharing economy." De Soto, an advisor to 20 nations on economic policy and president of the Institute of Liberty and Democracy, basically lays out the fundamental reason capitalism works, where it works and why it has never rooted in "the other" countries that are home to 4 billion people. He offers recommendations about how to unlock the potential of those people. If we can do that, we will ignite an amazing period of growth and prosperity for the whole frigging world. With Michael Casey, a Wall Street Journal reporter and co-author of the book "The Age of Cryptocurrency," I was awakened to the idea that de Soto's ideas could be implemented in a very low friction, easy scalable form on the block chain, which is the underlying technology behind bitcoin. So I decided to do something about it with George Kikvadze, the vice chairman of BitFury. So, we organized a summit in May of this year with Sir Richard Branson and de Soto on Branson's island to come up with ways to make it happen. Read More Thrillers? Romance? What Wall Street is reading this summer It was MAGICAL to be with people who have the potential to effect so much positive change in this world going forward and to work with them hand-in-hand, leveraging my background in technology, to synthesize practical and implementable solutions. We assembled an amazing group of people, ranging from James Newsome (former chairman of the U.S. Commodity Futures Trading Commission) and Jason Weinstein (former deputy attorney general of the U.S. Justice Department), to Beth Moses (chief astronaut trainer of Virgin Galactic who runs a bitcoin operation as a hobby) and financial technology entrepreneurs. We even had Lucy Liu join by Skype video. The group got the ball rolling on the implementation of a number of things that could be tracked with the modern technology underlying cryptocurrency, ranging from a carbon-credit marketplace to a very low-cost mechanism to handle the titling of land ownership in Third World countries, to a worldwide system for digital birth certificates or passports, and even a genealogy system for digital music or photographs as they are shared and re-shared on the web. Commentary by Bill Tai, a partner at Charles River Ventures. Originally trained as a computer-chip designer, Tai has served on the board of seven publicly-listed companies he initially funded as start-ups, including Internet infrastructure operator iAsiaWorks, which he founded as CEO. He co-founded both IPInfusion, the leading provider of Linux-based routing software and Treasure Data, a Hadoop-based "big data" platform, as chairman. He also serves on the Tech Pioneer Committee of the World Economic Forum. Follow him on Twitter @kitevc . What are you reading this summer? Drop it in the comments box below. More From CNBC Top News and Analysis Latest News Video Personal Finance
[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $250.85@bitstamp. High $252.20. Low $236.00. Market Cap $3.578 Billion #bitcoin || 1 #bitcoin 627.05 TL, 231.72 $, 202.259 €, GBP, 12335.00 RUR, 28650 ¥, CNH, 281.89 CAD #btc || LIVE: Profit = $1,447.52 (2.42 %). BUY B252.20 @ $236.94 (#Bitfinex). SELL @ $238.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || One Bitcoin now worth $238.37@bitstamp. High $240.67. Low $236.00. Market Cap $3.383 Billion #bitcoin || $239.60 #btce;
$239.00 #bitstamp;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || Bitcoin traded at $229.44 USD on BTC-e at 06:00 PM Pacific Time || 1 #bitcoin 625.07 TL, 237.367 $, 210 €, 144.7 GBP, 11707.00 RUR, 28827 ¥, 1300 CNH, 281.94 CAD #btc || Bitcoin traded at $249.61 USD on BTC-e at 09:00 AM Pacific Time || LIVE: Profit = $1,253.08 (38.47 %). BUY B13.60 @ $239.30 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || buysellbitco.in #bitcoin price in INR, Buy : 15256.00 INR Sell : 14782.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
|
Trend: down || Prices: 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks: Earlier this week, JPMorgan published a global markets strategy note that points out money has flowed out of gold and into bitcoin since October, and predicts this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin is a superior future store of value to gold, and are rotating out of one and into the other. I’m not convinced that’s what we’re seeing. I agree with the analysts, though, that inflows into bitcoin will continue to increase, but not because investors are changing their minds. There’s something else going on. In and out Related: Blockchain Bites: Google Goes Down, Nexus CEO and US Treasury Get Hacked The main gold exchange-traded funds (ETF) are losing funds – that much is true. SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) have seen outflows of over $4.4 billion in the past month alone, according to FactSet. The Grayscale Bitcoin Trust, however, which trades under the symbol GBTC and is managed by Grayscale (owned by DCG, also parent of CoinDesk), has seen inflows of over $1 billion in the same period, according to the latest 8-K filings. But the two trends are not necessarily correlated. Gold fund outflows are not that unusual, as the below chart shows. What’s more, the latest movements come after a phenomenally successful few months – since the beginning of 2020, GLD and IAU saw inflows of over $25 billion, marking the strongest year for inflows over the past decade. Even with the latest outflows, it has been a very good year for gold funds. Related: First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin The gold price has responded, delivering 35% performance between Jan. 1 and its peak in August. What we could be seeing is a simple rebalancing as investors lock in profits to reinvest elsewhere. Add to that a change in risk-off sentiment, as investors see less need for “safe haven” investments given positive vaccine news and the potential for strong growth next year, not to mention confidence the U.S. Federal Reserve will keep the markets happy, and you have an unsurprising shift away from gold. That does not mean that institutions are replacing their positions with bitcoin. Story continues Growing confidence We do know, though, that institutions are getting interested, and a growing number are becoming active in the crypto market. These institutions are not the only drivers of bitcoin inflows, however. The GBTC trust mentioned above is only available upon issuance to accredited investors, who can sell on the over-the-counter (OTC) market after a six-month lock-up period. The listed price carries a premium to the underlying value, which represents the strength of retail demand for bitcoin exposure. In what is known in the market as the “premium trade,” accredited investors that sell into the market after the lock-up capture both any bitcoin appreciation and the premium, and often reinvest all or part of the proceeds into new trust shares. Without strong retail demand, the GBTC premium would dwindle. Retail investors are probably behind some of the outflows in gold ETFs, and some are probably rotating into BTC. But there’s a bigger story unfolding. It’s the generational shift. The sands of time This week, financial advisory firm deVere released the results of a survey of over 700 of its millennial clients, which showed two-thirds of them prefer bitcoin to gold as an investment. This means any new savings entering the market may be almost 70% more likely to be put in bitcoin than into gold. This makes intuitive sense: Millennials are more comfortable with technology than their elders, and can probably grasp the potential more easily. And a Pew report last year showed younger Americans are less likely to trust institutions than older generations. Recent events are likely to have weakened this trust even further, at a time when the savings rate of those millennials and Gen Z-ers fortunate enough to have kept their jobs through the pandemic is increasing. A New York Times article from earlier this year presented the millennial generation as focused on early retirement, which will concentrate their attention on long-term value that cannot be inflated away. All this makes young people more likely to invest in inflation-resistant assets, yet less likely to invest in gold. For one thing, it is difficult for retail investors to actually hold gold. Sure, they can buy shares in a gold ETF, but that implies more centralized control and institutional vulnerability than a self-custodied bitcoin investment. And in an environment of weakened trust in the current system, self-custody of bitcoin is a much easier solution than is self-custody of gold. Old and new So we are likely to have significant new demand for bitcoin as a portfolio investment coming in from younger retail investors, at a time professional investors are also taking notice. It’s not just bitcoin fundamentals at work. Many professional investors will be interested in bitcoin investment precisely because of this potential growth narrative – other people wanting bitcoin is enough to make them want bitcoin. And, unlike gold, growth in demand for bitcoin does not affect its supply, which feeds the narrative loop even more. Throw in the dwindling rate of new bitcoins entering the system, and the demand-supply dynamics could entice even traditional investors to take an interest. This week we saw Massachusetts Mutual Life Insurance Co. – yes, an insurance company – invest $100 million in bitcoin. This does not mean that gold investment is over. Gold’s role as a store of value is well entrenched in investment lore, and even forward-thinking and open-minded investors and advisers recommend that bitcoin complement the precious metal rather than replace it. But a new generation of investors is starting to rewrite the rulebook. For now, the impact on gold flows is negligible, and we will see funds rush into industry ETFs when markets get wobbly and the commodity price starts to move up again. But demographics and sentiment are two powerful forces that, working in tandem, can move mountains – even those made of gold. Balancing act Software firm MicroStrategy’s enthusiasm for bitcoin is now industry lore. The company was the first to publicly acknowledge putting all of its excess treasury in the crypto asset, and its CEO Michael Saylor has become a crypto celebrity with his conviction and insight, even making CoinDesk’s Most Influential list this year. This week he went even further: Not content with the $475 million already invested in the asset, MicroStrategy issued $650 million of convertible bonds (which was initially going to be $400 million and then got raised to $550 million and then got raised to … you get the picture), the proceeds of which will go to buy more bitcoin. Is he nuts? Or is this the corporate treasury management of the future? In my opinion, possibly both. Bitcoin is a relatively volatile asset, and corporate treasury is not the place to take risks. Citi seems to agree because it downgraded its recommendation on MicroStrategy stock to a “sell” this week. At time of writing (Friday afternoon), the share price has fallen almost 15% over the week. But bitcoin is actually a potentially excellent corporate treasury asset. Ria Bhutoria and Tess McCurdy of Fidelity Digital Assets as well as Jeff Dorman of Arca funds wrote great pieces this week detailing this point. Ria and Tess list several ways in which bitcoin can mitigate typical corporate treasury risks. For instance, balance sheets are often exposed to liquidity risk, in which a company does not have enough liquid assets to meet debt payments and so has to sell less-liquid assets at unfavorable prices. Holding bitcoin instead of these less-liquid assets frees up cash in order to satisfy obligations, as bitcoin can be used as collateral on many lending platforms. Foreign exchange risk leaves a company vulnerable to fluctuating conversion rates and fees – bitcoin could serve as a “bridge asset” on the balance sheet, moving in and out of currency pairs at a lower cost. Jeff points out that holding cash on the balance sheet for large corporations is onerous, usually requiring several accounts, limited banking hours, wire fees as well as the need to earn a yield on cash holdings. He also hinted, and this could be fun, that activist investors could soon start pressuring companies to diversify treasury holdings with bitcoin. I’m interested in the potential use of bitcoin as collateral for working capital management. Ria and Tess touched on this, but I think it could go even further, eventually giving rise to a new type of repo market. Yes, bitcoin fluctuates in fiat terms, and company financing needs are in fiat terms – but bitcoin’s bearer nature combined with its ease of transfer and the work being done on its smart contract functionality , as well as the growing support for bitcoin custody from financial institutions, point to some interesting developments on this use case in the years to come. Anyone know what’s going on yet? As the specter of no deal on Brexit looms ever closer, and stimulus talks in the U.S. are mired in a political stalemate, markets showed some signs of nerves this week – not nearly as much as the dire outlook warrants, however, which is itself becoming the new normal. Interestingly, BTC’s weak performance so far this month does not seem to have damped spirits in the industry. The year-to-date performance is still higher than more traditional alternatives, institutions continue to demonstrate interest and infrastructure development continues apace. In spite of this week’s dip, there still seems to linger a feeling of accumulation. Chain links Continuing with the idea I kicked off last week to list the professional investors and institutions talking about bitcoin in a separate section (because the comments are coming thick and fast these days), the following people/companies said some relevant things: An editorial in the Financial Times by Morgan Stanley Investment Management’s chief global strategist positions bitcoin as a potential substitute for the dollar as a global currency. “There are reasons to think this bitcoin rush has deeper roots.” Bridgewater Associates founder Ray Dalio , who has spoken out against bitcoin in the past, has softened his stance, and said in an AMA on Reddit this week that he thought bitcoin and other cryptocurrencies had “established themselves” over the last 10 years and were interesting “gold-like asset alternatives.” In a long Twitter thread , investor Raoul Pal riffed on the potential value comparisons and growth drivers for BTC and ETH : “My hunch is BTC is a perfect collateral layer but ETH might be bigger in market cap terms in 10 years.” Mohamed El-Erian, chief economic adviser for €2.3 trillion fund manager Allianz, tweeted last week he had sold bitcoin after holding for two years, and that his decision was “not based on any deep analysis.” German media giant Bertelsmann has invested in a crypto fund managed by venture firm Greenfield One. In other news: An insurance company founded in 1851, Massachusetts Mutual Life Insurance Co ., has invested $100 million in bitcoin, and $5 million in an equity stake in crypto fund manager NYDIG. TAKEAWAY: You read that right: An insurance company has invested in bitcoin. This is the first large insurance company to do so, as far as I’m aware, and the scale of the investment – only 0.04% of the general investment account, and is just a “first step,” according to the company – gives an inkling into the size of the potential funds should other insurance companies start to follow suit. Fidelity Digital Assets is entering the crypto lending business , albeit indirectly, allowing its institutional customers to pledge bitcoin as collateral against cash loans in a partnership with crypto lending firm BlockFi. TAKEAWAY: The growth of the lending business is worth keeping an eye on, as it represents a maturation of the market as well as a sign that liquidity will continue to improve. More than that, the growing awareness of the advantages of bitcoin as a collateral asset is likely to lead to new types of infrastructure emerging, as well as new use cases for bitcoin and other cryptocurrencies. According to sources, Spanish bank BBVA will soon launch cryptocurrency services , based out of Switzerland. These services will include trading and custody. TAKEAWAY: If true, this would be a major bank (second-largest in Spain, 17th in Europe ) validating cryptocurrencies as a tradable asset. The bank has for some time been regarded as one of the most “digital” and forward-looking in Spain (a few years ago I heard then-chairman Francisco González say: “We are not a bank. We are a technology company.”), and has been experimenting with blockchain applications since at least 2015 , which arguably gives it a head start. If BBVA launches crypto trading and custody for its clients, other banks are sure to follow. According to Michael Sonnenshein, managing director of crypto fund manager Grayscale Investments (owned by DCG, also parent of CoinDesk), a growing number of accredited investors are investing in the company’s ether fund (ETHE) even before investing in the standard industry “on-ramp” of their bitcoin fund. TAKEAWAY: This does more than hint at a growing sophistication in investors’ understanding of the different value propositions of ether and bitcoin. It also signals that investors increasingly grasp that the ecosystem is about so much more than seizure-resistant hard supply assets, and that native assets are in themselves technologies, each with its own strengths and potential. It will be interesting to see whether these investors remain exclusively focused on ether, or whether it will itself become an on-ramp for investments in Ethereum-based tokens and perhaps other protocols. Germany’s second-largest stock exchange, Borse Stuttgart, has revealed that its Bison crypto trading app exchanged €1 billion (US$1.21 billion) worth of crypto assets so far this year. TAKEAWAY: This is a significant indication of retail interest, and the growth in the number of active users (180%, to reach 206,000), in an app that is more than two years old, hints at strong momentum. Bitwise Asset Management announced this week that its 10 Crypto Index Fund is now available to U.S. investors as a public-traded cryptocurrency index fund under the symbol BITW. TAKEAWAY: It has only been trading for a few days, so it’s too soon to gauge what its liquidity will be. Its main competitor is Grayscale’s Digital Large Cap Fund. Like the Large Cap Fund, BITW is available to accredited investors at issuance and can be sold to the public after a 12-month lockup. Also like the Large Cap Fund, BITW trades at a premium to NAV – this premium has shot up since launch to almost 130% at time of writing . Legacy bank involvement in crypto assets is gathering speed. Netherlands-based bank ING spoke publicly this week for the first time about the work done so far with Pyctor, a collaborative effort involving ING, ABN AMRO, BNP Paribas Securities Services, Citibank, Invesco, Societe Generale, State Street, UBS and others to develop custody and post-trade infrastructure for crypto assets. And Standard Chartered’s fintech investment unit, SC Ventures, and Northern Trust have announced Zodia Custody , a U.K.-based cryptocurrency custodian for institutional clients expected to begin operating next year. Standard Chartered has also gathered a group of crypto exchanges for a new digital asset trading platform tailored to the institutional market, according to sources. TAKEAWAY: The entrance of legacy financial institutions into the crypto asset services business is no longer in doubt, and next year we will most likely see at least a handful offer these services to their clients. (Last week we reported that Spain’s BBVA will soon announce the imminent launch of crypto services). This will significantly move the needle on mainstream trust in crypto assets – if banks are offering these services, it must be legit, right? – and could lead to some bundling as banks make strategic acquisitions in the crypto industry. For some banks it will be a question of rapidly consolidating position and building ancillary services, for others it will be to try to catch up. BitGo has added capital introduction services to its suite of white-glove crypto brokerage services. TAKEAWAY: This is another pillar in the emerging prime brokerage structure emerging in crypto markets. Capital introduction in crypto markets will serve more than merely to introduce institutional funds to fund managers; it will also be an opportunity to educate more institutional investors about crypto assets. The number of bitcoin “whales,” or holders of over 1,000 BTC, has increased by 17% in 2020 , according to blockchain forensics firm Chainalysis. TAKEAWAY: The industry likes to keep a track of this because it represents deep conviction and/or institutional stakes. A higher number of large holders does also introduce some centralization through concentration of wealth, and the risk that any one of these holders could sell, pushing the market down. But, the same analysis shows that the number of wallets that hold five to 10 BTC had increased by a considerable amount. U.S.-based crypto exchange Bittrex Global has launched trading in tokenized stocks such as Apple, Tesla, Facebook and Amazon on its digital asset exchange. TAKEAWAY: You might wonder why investors would want to do that when they could use their traditional broker. But this offers a wider range of investment options for Bittrex users who might not have a traditional brokerage account, or who might not want to transfer funds. And, more importantly, it offers fractionalization of the shares, which could broaden their appeal to retail investors. Since Bittrex is not a large exchange (28th in spot volumes, according to CoinGecko ), volumes in these tokenized shares is unlikely to be high – but it’s an intriguing step towards tokenization of assets on a broader scale, and could soon open up access to non-U.S. shares as well as other types of assets. As further evidence the market for tokenized securities is quietly evolving, the innovation division of fund manager Arca has partnered with several crypto firms (Anchorage, Gemini, Komainu, Ledger, and TokenSoft) for custody of ArCoin , which represents tokenized shares in a SEC-registered fund that holds T-bills. TAKEAWAY: Choosing a range of custodians rather than just one offers clients a more flexible solution, and could boost interest among investors that are already clients of the selected companies. Even more interesting, though, is that a boring, staid investment (a high-grade bond fund) can be exchanged peer-to-peer on a blockchain platform. This could start to shift traditional investors’ perception that blockchain-based assets are risky and volatile, and open their minds to the versatility that tokenization offers. It’s a start, anyway. Custody startup Curv is teaming up with Ethereum-based crypto wallet MetaMask to allow institutions to be able to invest in decentralized finance (DeFi) protocols with institutional-grade custody options. TAKEAWAY: The DeFi industry is growing fast but is still tiny by traditional asset standards. The attractive yields and growth potential of some of the assets have started to attract institutional attention, however, and initiatives designed to make it easier for professional investors to explore the space are emerging to support this. We’ll no doubt see more announcements like this in the months to come. An Ethereum-based fund managed by Canadian investment fund manager 3iQ has completed an initial public offering for around $76.5 million the Toronto Stock Exchange (TSX), under the symbol QETH.U. TAKEAWAY: This is not available to U.S. investors, which will limit its liquidity, but the emergence of another listed ETH play signals the deepening maturity of the ETH market infrastructure overall. Related Stories Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks || Dollar plummets on U.S. stimulus hopes; bitcoin hits all-time peak: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The dollar fell on Tuesday to its lowest level in more than 2-1/2 years, as investors' appetite for risk increased on prospects of further fiscal stimulus from the United States as well as expectations of a solid global recovery. News of a proposed COVID bill sank the dollar further, as did the resumption of talks between U.S. Treasury Secretary Steve Mnuchin and House of Representatives Speaker Nancy Pelosi on Tuesday about a stimulus package. The proposed relief bill of $908 billion would fund measures through March 31, including $228 billion in additional paycheck protection funds for hotels, restaurants and other small businesses. "Traders are looking for any reason to bid risk up and that comes at the cost of the dollar," said John Doyle, vice president of dealing and trading at Tempus, Inc. in Washington. "When you get a report that a bipartisan stimulus deal can get done after hopes have been dashed, it's just another reason to bid risk up and sell the dollar," he added. Pelosi said on Tuesday Mnuchin would review both bipartisan Senate proposal as well her and Senator Charles Schumer's COVID relief plan. Currencies that thrive in times of risk appetite such as the euro, sterling, as well as the Australian, and New Zealand dollars all rose against the greenback. The euro and the New Zealand dollar both hit 2-1/2-year highs. Bitcoin was also on a tear, hitting a record high just under $20,000. The virtual currency though was last down 3.8% at $18,961. In afternoon trading, the dollar index fell 0.7% to 91.318, hitting 91.263, the lowest since late April 2018. The euro hit a 2-1/2-year high vs the dollar at $1.2055 and last traded 1% higher at $1.2049. "The technical argument in favor of additional euro gains in the short- to medium-term is fairly compelling," said Scotiabank in a research note. "November price action overall was bullish for the euro, the break out from the (second half) consolidation suggests upside potential towards $1.25-$1.26." Sterling climbed to a three-month peak versus the dollar after Times Radio said Brexit trade deal talks have entered the "tunnel" stage of negotiations. The "tunnel" is a term for an intense final stage of secretive, make-or-break negotiations. The pound was last up 0.7% at $1.3410. Nagging worries about rising coronavirus cases have not provided the dollar with much safe-haven support. Speculation is also growing that the Federal Reserve will act to support the economy through a tough winter before vaccinations become available. That should further weigh on the dollar. Story continues The Fed meets to set policy on Dec. 15-16. Fed Chairman Jerome Powell and Treasury's Mnuchin on Tuesday also urged Congress to provide more help for small businesses amid a surging coronavirus pandemic and concern that relief from a vaccine may not arrive in time to keep them from failing. The New Zealand dollar hit its highest level since June 2018 and was last up 0.7% at US$0.7055, while the Canadian dollar rose versus the greenback, which dropped 0.4% to C$1.2954. Data showed Canada's economy grew by 40.5% on an annualized basis in the third quarter, rebounding from a historic plunge in the second. (This story refiles to fix typo in the euro price in the 11th paragraph) (Reporting by Gertrude Chavez-Dreyfuss Editing by David Gregorio, Nick Zieminski and Sandra Maler) View comments || Coinbase Files For IPO With Bitcoin At All-Time Highs: Cryptocurrency exchange Coinbase confirmed Thursday it filed for an IPO. What Happened: Coinbase announced in a blog post it has confidentially submitted its registration for an IPO by filing its S-1. Coinbase last raised funds in 2018 at an $8 billion valuation . The company was valued at $1.6 billion in 2017 . Investors in the company include Tiger Global, Andreessen Horowitz, New York Stock Exchange, BBVA and former Citigroup (NYSE: C ) CEO Vikram Pandit. Why It’s Important: The IPO of Coinbase comes as Bitcoin prices hit all-time highs and crossed $20,000 on Wednesday. This would mark the first major U.S. cryptocurrency exchange to go public and could be a landmark victory of bringing cryptocurrency more mainstream. The company’s platform saw connection problems due to congestion on Wednesday, which could show the strong demand from Coinbase users. In July, Reuters said Coinbase was considering a direct listing over a traditional IPO. Coinbase had also been linked to several large SPACs recently. Shares of Bitcoin trade at $23,286 at the time of writing. See Also: Will Bitcoin 'Rise 50% And Possibly Double' In 2021? These Pros Think So Benzinga’s Take: The company to watch could be Banco Bilbao Vizcaya Argentaria (NYSE: BBVA ), whose BBVA arm began investing in Coinbase back in 2015 . “We need to better understand the industry and understand how merchants and consumers are interacting with bitcoin,” BBVA Ventures Executive Director Jay Reinemann told CoinDesk at the time. The 2015 round valued Coinbase at $400 million. With the listing expected to price above the $8 billion valuation from its last round and see strong demand with the rise of Bitcoin, this funding could pay off nicely for BBVA. See more from Benzinga Click here for options trades from Benzinga Exclusive: New SPAC ETF Creator On SPACs, Management Teams, Top Holdings The 'Most Ridiculous IPO' Of 2020? Citron Hits DoorDash With Target © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets: U.S. cryptocurrency users hoping to transfer their holdings from an exchange to their own personal wallets may need to comply with new know-your-customer (KYC) requirements under a rule proposed by the Treasury Department Friday. Under the advanced notice of proposed rulemaking , users who want to send cryptocurrencies from centralized exchanges to a private wallet would need to provide personal information about the owner of that wallet to the exchanges, if the amount sent is greater than $10,000 in one day. The exchanges would also need to submit and store records involving such transactions with a total value over $10,000 in a given reporting period, or just maintain records for transactions over $3,000. In other words, users of centralized cryptocurrency exchanges who want to move their holdings onto their own private wallet, or to someone else’s, would have to provide detailed personal information for transactions greater than $3,000, and exchanges would be required to report either individual or groups of transactions that add up to more than $10,000 to the Financial Crimes Enforcement Network (FinCEN). Related: US Treasury Bulking Up Crypto Policy Advisers as Wallet Reg Rumors Swirl Along with another recent proposal , the move would increase the amount of work individuals and exchanges must put into transferring cryptocurrencies, as well as increase the amount of personal data exchanges must hold onto or report to the Treasury Department. This would bring crypto closer in line with the traditional banking system, perhaps giving greater comfort to institutional investors who are increasingly considering the asset class, but undermining the technology’s early promise of privacy and self-sovereignty . At a minimum, privacy would require jumping through more hoops: In a press release, the Treasury said the rule would close “ loopholes ” around virtual currency transaction reporting. Related: Blockchain Bites: Google Goes Down, Nexus CEO and US Treasury Get Hacked Story continues The general public will have until Jan. 4, 2021 to provide comments or feedback (although another part of the document says feedback can be submitted within 15 days after the rule is published in the Federal Register, the national logbook, on Dec. 23). “FinCEN assesses that there are significant national security imperatives that necessitate an efficient process for proposal and implementation of this rule,” the document read, adding: “U.S. authorities have found that malign actors are increasingly using CVC to facilitate international terrorist financing, weapons proliferation, sanctions evasion, and transnational money laundering, as well as to buy and sell controlled substances, stolen and fraudulent identification documents and access devices, counterfeit goods, malware and other computer hacking tools, firearms, and toxic chemicals.” Rumors that this rule was in the works circulated last month when Coinbase CEO Brian Armstrong tweeted that the Trump administration was preparing a rushed rule that would require exchanges to verify know-your-customer information for the recipient of a transfer to a self-hosted wallet. The move would introduce a large amount of friction for crypto users, Armstrong warned at the time. The rule would be largely in line with guidance from the Financial Action Task Force (FATF) last year that required its member nations to implement KYC rules for virtual asset service providers (VASPs), a term for crypto exchanges and other startups, as well as the so-called “travel rule.” At the time, FATF’s guidelines suggested that individual crypto wallets could be designated VASPs, saying: “In cases where the VASP is a natural person, it should be required to be licensed or registered in the jurisdiction where its place of business is located – the determination of which may include several factors for consideration by countries.” Public comment period Any time a VASP customer sends $10,000 or more in crypto to a self-hosted wallet in a single day, their VASP would be required to verify their identity, collect the identity of their counterparty, and file a report with FinCEN, under Treasury’s proposed rule. The rule would force banks and money services businesses (MSBs) to compile and verify the same information for all unhosted wallet transactions over $3,000. They would not need to file a report with FinCEN for these four-figure transfers, however. As has been rumored for weeks, the rule’s main target appears to be self-hosted wallets (FinCEN calls them unhosted wallets). These are wallets that grant their users access to the private keys, giving them full control over the funds, just like the leather wallet in your pocket or purse. Read more: How FinCEN Became a Honeypot for Sensitive Personal Data Treasury also intends to apply the reporting rules to foreign wallets tied to countries on FinCEN’s money laundering watch list. This means Myanmar (which FinCEN calls Burma), Iran and North Korea to start. FinCEN suggested that a large portion of crypto transaction activity might be suspicious, writing that “despite significant underreporting due to compliance challenges in parts of the CVC [convertible virtual currency] sector, in 2019, FinCEN received approximately $119 billion in suspicious activity reporting.” “A significant majority” of these transactions might relate to possible legal violations, the document said. Central bank digital currencies The document also references “digital assets with legal tender status (LTDA),” a term apparently referencing central bank digital currencies (CBDCs). The term first appeared around the end of October in government documents. LTDAs have legal tender status, but are not currencies, according to a footnote. They can be treated as being similar to “coins and currency of a foreign country, travelers’ checks, bearer negotiable instruments” or other financial instruments. Read more: Self-Hosted Bitcoin Wallets Become Front Line in Fight Over Crypto Regulations Another note says that at present, “only a limited number of transactions occur involving LTDA,” though several countries are developing LTDA systems. LTDAs are referenced as being distinct from CVCs in the advanced notice. Widespread pushback Marta Belcher, a civil liberties and technology attorney, told CoinDesk that in her view, “one of the most important things about cryptocurrency is that it imports the civil liberties benefits of cash into the digital sphere by allowing for anonymous transactions.” The ANPR is part of a trend where the U.S. government seeks to implement traditional banking system surveillance tools in the crypto space, said Belcher, who is also special counsel at the Electronic Frontier Foundation. “There are photos from the Hong Kong protests of long lines at the subway stations as protestors waited to purchase tickets with cash so that their electronic purchases would not place them at the scene of the protest,” she said. “These photos underscore that a cashless society is a surveillance society; that is why the ability to import the anonymity of cash to the digital world is so important for civil liberties.” The rule received pushback from the crypto community well before details were officially announced. Armstrong criticized the rule, saying he believed there may be unintended consequences. Part of the concern stems around the rapid pace at which Mnuchin – and agencies that report to Treasury – are implementing new rules. FinCEN, a bureau of the Treasury, moved to lower the threshold for applying the travel rule to international money transfers, including cryptocurrencies. While that rule change proposal did see a public comment period, it was shorter than typical by at least 30 days. Kristin Smith, executive director of the Blockchain Association, said in a statement, “Undercutting that ability with last-minute rulemaking in the twilight days of an outgoing administration is not the way to make the type of long-lasting, responsive regulations that will support the safe growth of this industry in the U.S. Whether regulators acknowledge it or not, crypto is here to stay and should be considered a pro-growth part of the national economy, not something to be brushed aside quietly at the midnight hour.” Read more: Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations Peter Van Valkenburgh, research director at Coin Center, likewise called Friday’s proposal “rushed,” saying some of the recordkeeping requirements might be “infeasible in the context of cryptocurrency transactions.” FinCEN does not appear to be bothered by these fears. In fact, the agency asserts it has no legal requirement to hold a comment period of any length but is giving the public a shot anyhow. Delaying implementation could spur individuals to move their funds fast, FinCEN warned. The moves increase the amount of work individuals and exchanges must put into transferring cryptocurrencies, as well as increase the amount of personal data exchanges must hold onto or report to the Treasury Department. Republican lawmakers even decried the move , with a public letter signed by U.S. Representatives Warren Davidson (Ohio), Tom Emmer (Minn.), Ted Budd (N.C.) and Scott Perry (Penn.) asking Mnuchin to discuss the move with elected officials. Earlier on Friday, Senator-elect Cynthia Lummis (R-Wyo.) said she was concerned by the move. Other industry representatives criticizing the move include Circle CEO Jeremy Allaire, who wrote an open letter to Treasury Department staff saying the proposed rule “would inadequately address the actual risks that are at issue,” and harm the industry overall. International restrictions The U.S. follows a number of other nations in implementing stricter identity verification rules around crypto wallets. France, the Netherlands and Switzerland have all created their own form of stringent wallet rules this year. De Nederlandsche Bank, the Netherlands’ central bank, apparently began requiring exchanges to ask its customers what they intend to use their cryptocurrencies for as well as verify that they were the owner of the wallets they were trying to transfer funds to. Similarly, Switzerland has required exchanges to “prove ownership of non-custodial wallets” since the start of the year . Read more: FinCEN Encourages Banks to Share Customer Information With Each Other Prior to the U.S., France was the latest country to force such identification requirements on crypto exchanges, barring anonymous accounts and hinting at further digital ID rules. Unlike the other countries, however, French Finance Minister Bruno Le Maire cited concerns around crypto being a potential source of terrorism funding rather than FATF in the rules’ rollout. Van Valkenburgh noted that the U.S. proposal differs from the overseas variants, writing, “We are, nonetheless, gratified that the U.S. has not chosen to repeat the mistakes made overseas, and, instead, policymakers have proposed an extension of rules that already apply to traditional financial institutions dealing in cash.” UPDATE (Dec. 18, 2020, 23:10 UTC): Updated with additional context and information. Related Stories US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets || Bitcoin Controlled By China, Ripple Tells SEC In Face Of Imminent Lawsuit: Ripple Labs Inc claimed — if the U.S. Securities and Exchange Commission deems its token to be an investment contract — the regulator would cede innovation in cryptocurrency to China, which controls Bitcoin (BTC) and Ethereum (ETH).
What Happened:“The Bitcoin and Ethereum blockchains are highly susceptible to Chinese control because both are subject to simple majority rule, whereas the XRPL prevents comparable centralization,” said Ripple, the company behind the XRP token, in a wells notice to the SEC.
Ethereum founder Vitalik Buterin came down heavily on Ripple and said the company was sinking to “new levels of strangeness.”
Why It Matters:The fintech firm hasvowedto defend itself against a yet-to-be filed lawsuit from the SEC against its CEO Brad Garlinghouse and co-founder Chris Larsen in federal court.
The lawsuit is centered on whether XRP is a security that should be registered with the regulator or not.
A former partner atGoldman Sachs Group Inc(NYSE:GS) and founder of financial services firm Galaxy Digital Michael Novogratz noted onTwitterthat BTC and ETH “seem to have an SEC pass,” while commenting on the upcoming XRP lawsuit.
Novogratz also found it strange that SEC chairman Jay Clayton “waited years to do this."
In 2018, the head of the SEC division of corporate finance, William Hinman, had said that BTC and ETH are not securities. At the time, Hinman had said thatdecentralization is the keyto whether or not a currency is a security.
Price Action:Ripple traded 18.21% lower at $0.46 at press time, while BTC traded 5.27% lower at $22,652.19. ETH traded 6.05% lower at $605.39. On Friday, Grayscale Bitcoin Trust closed 4.58% higher at $30.83.
Related Link:ETH Cryptocurrency Surges 2.7% As Grayscale Ethereum Trust Becomes SEC Reporting Company
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || FOREX-Dollar drops as progress on U.S. stimulus, Brexit deals sour safety bid: * Pound hits 2 1/2-year high as EU chief says agreement closer * Bitcoin rises to all-time high above $22,000 * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E By Kevin Buckland TOKYO, Dec 17 (Reuters) - The dollar set fresh 2-1/2-year lows against major peers including the British pound and euro on Thursday as progress toward agreeing a U.S. stimulus package and a Brexit deal boosted risk appetite at the expense of the safest assets. Congressional negotiators were "closing in on" a $900 billion COVID-19 aid bill, lawmakers and aides said on Wednesday, with the tone the most positive it's been in months. Across the Atlantic, the European Union's chief executive said a deal with the UK was nearer, although success wasn't guaranteed. "As the world gets more optimistic about the outlook for growth in 2021, the dollar has softened," said Michael McCarthy, chief strategist at broker CMC Markets in Sydney. "Further weakening of the dollar is on the cards." The dollar index sank as low as 89.97 in Asian trading, breaking below 90 for the first time since April 2018. The euro changed hands at $1.22305, after earlier reaching $1.2235, also the strongest since April 2018. The pound bought $1.3557 having risen to $1.3564 for the first time since May 2018. The Federal Reserve on Wednesday vowed to keep funnelling cash into financial markets until the U.S. economic recovery is secure, a promise of long-term help that fell short of some investors' hopes of an immediate move to shore up a recent pandemic-related slide. The dollar index jerked higher after the Fed's announcement, but the respite was short-lived. "The U.S.' long-term yield is too low to finance its current account deficit," said Minori Uchida, chief currency strategist at MUFG Bank in Tokyo. "As long as U.S. long-term yields stay at very low levels, the dollar will be weaker," with scope to fall by as much as 10% against rivals like the euro, yen and Chinese yuan, he said. The greenback slid to 103.280 yen, also a safe haven currency, and Uchida said it could break 100 by March. The onshore yuan traded at 6.5369 per dollar, while its offshore counterpart changed hands at 6.5117, near the 6.4975 level it reached earlier this month for the first time since June 2018. Meanwhile, the Swiss franc was little changed after touching a six-year high of 0.8826 per dollar on Wednesday, when the U.S. Treasury labeled Switzerland a currency manipulator. The Treasury said that through June 2020 both Switzerland and Vietnam had intervened in currency markets to prevent effective balance of payments adjustments. In Europe, while talks for a trade deal have progressed, fishing rights remain a particular sticking point as the UK prepares to exit the trading bloc at the turn of the year. British Prime Minister Boris Johnson's aide said on Wednesday that no deal was still the most likely outcome. "Forex traders appear largely unfazed by the possibility of a no deal exit," said CMC's McCarthy. "The strength in sterling is remarkable." The Australian dollar touched 75.975 U.S. cents, the highest since June 2018. Its New Zealand peer reached 71.41 U.S. cents, a level unseen since April 2018. Bitcoin traded as high as $22,394 after smashing through the $20,000 barrier for the first time overnight. "Bitcoin is still on its latest tear," Ray Attrill, head of foreign exchange strategy at National Australia Bank in Sydney, wrote in a client note. "I still don't want one for Christmas." ======================================================== Currency bid prices at 3:45PM (645 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.2228 $1.2202 +0.22% +9.08% +1.2235 +1.2189 Dollar/Yen 103.2500 103.4350 -0.14% -4.90% +103.5470 +103.2750 Euro/Yen 126.26 126.19 +0.06% +3.53% +126.3800 +126.0600 Dollar/Swiss 0.8837 0.8849 -0.10% -8.64% +0.8857 +0.8838 Sterling/Dollar 1.3552 1.3511 +0.33% +2.21% +1.3562 +1.3499 Dollar/Canadian 1.2712 1.2738 -0.19% -2.13% +1.2749 +1.2711 Aussie/Dollar 0.7593 0.7579 +0.22% +8.24% +0.7596 +0.7568 NZ 0.7133 0.7114 +0.30% +6.03% +0.7138 +0.7104 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Editing by Shri Navaratnam and Jacqueline Wong & Shri Navaratnam) || Cryptocurrency: Bitcoin tops $30,000 for the first time ever just days after crossing $20,000: At the time of writing it was more than 6% higher at $31,256.60, meaning that the digital currency now has a market capitalisation of $580bn. Photo: Chesnot/Getty Images Bitcoin ( BTC-USD ) reached a value of over $30,000 (£21,941) for the first time ever on Saturday, just two weeks after it crossed the $20,000 mark. At the time of publish it was 10% higher at $32,504, meaning that the digital currency now has a market capitalisation of more than $600bn. This places it among the largest global assets in the world behind the likes of Facebook ( FB ), Apple ( AAPL ), and Tesla ( TSLA ). Last week Bitcoin pushed ahead of Visa ( V ) making it the worlds largest financial service. In 2020, cryptocurrencies had a stellar rally as lockdowns and fears of a global recession, due to the COVID-19 pandemic, sent investors flocking to alternative financial assets. During the course of the year a number of financial institutions started backing cryptocurrencies and blockchain technologies which sent its price soaring. At the time of writing it was more than 6% higher at $31,256.60, meaning that the digital currency now has a market capitalisation of $580bn. Credit: Yahoo Finance In October, PayPal ( PYPL ) announced that it would allow the cryptocurrencies on its platform in what was a major move toward the mass adoption of digital currencies. 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 and plans to expand to Venmo and some countries 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. JP Morgan ( JPM ) also started banking Coinbase and Gemini platforms and Visa and Mastercard ( MA ) provided services to crypto companies. READ MORE: Bitcoin hits $500bn market cap for the first time in history Bitcoins historic rise in December was accelerated in particular by British fund manager Ruffer Investment Management ( RICA.L ), which revealed it had bought $745m worth of Bitcoin, pushing the digital currency above the $20,000 price level for the first time. Ruffer has allocated 2.7% of the fund to the digital currency, using its profits from gold to buy Bitcoin. Despite its rise this year, the cryptocurrency remains extremely volatile and experts often remain sceptical about using it as an investment. However, Matt Hougan, chief investment officer of Bitwise Asset Management said: Whats happening now - and its happening faster than anyone could ever imagine - is that Bitcoin is moving from a fringe esoteric asset to the mainstream. Story continues If its going mainstream, there is just so much money on the sidelines that is going to have to come in and establish a position that it leaves me very bullish for 2021. Watch: Cryptocurrencies will change the monetary system says Bitcoin Foundation chairman View comments || Bitwises Crypto Index Fund Becomes Available to US Investors: Bitwise Asset Management, a provider of cryptocurrency index funds to professional investors, announced Wednesday its 10 Crypto Index Fund is now available to U.S. investors as a public-traded cryptocurrency index fund. After a Form 211 for quotation of the funds shares were reviewed by the Financial Industry Regulatory Authority (FINRA), the Bitwise 10 Crypto Index Fund was enabled to be listed on the over-the-counter markets and trades under the ticker symbol BITW, the company said in a news release. Shares of the fund will be tradable through traditional brokerage accounts and the assets will be custodied with Coinbase Custody Trust Company. Related: Bitcoin News Roundup for Dec. 9, 2020 The fund will track the Bitwise 10 Large Cap Crypto Index, a diversified, market-cap-weighted index of the ten largest cryptocurrencies. As of Nov. 30, the fund held approximately 75% bitcoin and 13% ethereum . According to Hunter Horsley, co-founder and chief executive of Bitwise, this gives investors exposure to cryptocurrencies without trying to pick winners or having to constantly monitor the rapid changes in the space, BITW is designed for financial advisors, Matt Hougan, Bitwises chief investment officer, said in an email response to CoinDesk. Financial advisors are eager for a safe and easy way to allocate to crypto for clients. The news came after the company failed its attempts to win approval from the U.S. Securities and Exchange Commission for a bitcoin-focused exchange-traded fund. While many exchange-traded fund (ETF) efforts have focused around bitcoin only, Hougan said that having a crypto index fund gives investors exposures to other cryptocurrencies, with several having outperformed bitcoin thus far this year. Related: First Mover: Bitcoin's Latest Rally Proving Irresistible as Bitwise Assets Top $100M Unlike an ETF, the BITWs shares are exempt from registration with the SEC. Nonetheless, the launch of BITW will not stop the company from pursuing a bitcoin ETF, Hougan told CoinDesk. Story continues Bitwise had more than $100 million in assets under management as of the end of October . The company attributed the significant growth to rising demand from hedge funds, financial advisers and multifamily offices. Crypto is about more than bitcoin, said Hougan. As phenomenal an asset as bitcoin is, it is far from the best-performing asset in the Bitwise 10. In fact, its the sixth-best performer year to date. Bitwise will not be entering this crypto fund space without facing some established competitors. Grayscale, the oldest and largest digital currency asset manager, also offers a similar investment product, Grayscale Digital Large Cap Fund, with about $170.6 million worth of digital assets holdings, according to a public available document by Grayscale in early December. (Grayscale is owned by DCG, the parent company of CoinDesk.) Hougan clarified that Grayscales Digital Large Cap Fund is not an index fund because it holds a basket of five crypto assets without tracking an index. And while Grayscales product requires a 3% management fee, BITW is slightly cheaper at 2.5%. S&P Dow Jones Indices, a major financial data firm, said last week that it will launch a customizable cryptocurrency indexing service amid growing interest from institutional investors in cryptocurrencies this year. Related Stories Bitwises Crypto Index Fund Becomes Available to US Investors Bitwises Crypto Index Fund Becomes Available to US Investors || Uniswap May Re-Up Rewards as SushiSwap Angles to Catch Itinerant Yield Farmers: Uniswap community members are scrambling to update yield farming rewards for the automated market maker’s (AMM) native token UNI as the initial liquidity mining program sunsets on Nov. 17. A governance vote for continuing farming on the same four asset pairs – WBTC/ ETH , USDC /ETH, USDT /ETH and DAI /ETH – was proposed by Audius strategy lead Cooper Turley and pseudonymous “monet supply” Monday. The proposal will have to pass a series of governance polls before farming restarts Dec. 4. UNI liquidity mining allocations would be half of the original 2.5 million UNI tokens delegated per asset pool on a month-to-month basis. Farming rewards were first created in September for a limited two month run following a surprise airdrop of UNI tokens to the AMM’s developers, users and investors. Related: Market Wrap: Bitcoin Ascends to $16.8K; Uniswap and Tether 35% of Ethereum Transactions UNI is trading hands at $3.50, according to CoinGecko . Uniswap’s total value under lock (TVL) first broke $1 billion in September after introducing UNI rewards. The AMM peaked at just over $3 billion in TVL on Nov. 13. At the same time, competing AMM SushiSwap is apparently gunning for Uniswap’s liquidity. The rival AMM is discontinuing certain staking pools while reallocating yields to the expiring pairs on Uniswap (should the governance plan fail). Related Stories Uniswap May Re-Up Rewards as SushiSwap Angles to Catch Itinerant Yield Farmers Uniswap May Re-Up Rewards as SushiSwap Angles to Catch Itinerant Yield Farmers Uniswap May Re-Up Rewards as SushiSwap Angles to Catch Itinerant Yield Farmers || Europe Confidence Slips, Bitcoin Corrects, Slack Talk - What's up in Markets: By Geoffrey Smith
Investing.com -- Germany extends its lockdown restrictions through December 20th – but doesn’t tighten them much despite failing to bring down its infection curve. Consumer confidence in Europe’s two biggest economies falls. Bitcoin corrects sharply downward, and Ripple corrects even more sharply. Salesforce is reported to be close to buying Slack and Exxon Mobil is gloomy on oil. Here’s what you need to know in financial markets on Thursday, November 26th.
1. Germany extends restrictions - but doesn't tighten them much
Germany’s federal and regional governments extended current restrictions on business and social gatherings until December 20 and expanded restrictions on mask-wearing, but otherwise shied away from tightening restrictions as it tries to bring its second wave of the coronavirus under control.
Europe’s largest economy reported a record-high 32,000 new cases of Covid-19 on Wednesday, as well as over 300 deaths for the third straight day. Having implemented a less strict lockdown to deal with the second wave of the pandemic, it has so far failed to bring the virus under control. By contrast, France and the U.K. have started to relax their restrictions ahead, hoping to guarantee something closer to normal life by Christmas.
Consumer sentiment surveys in bothFranceandGermanyboth fell by more than expected in November, data released on Thursday showed.
2. AstraZeneca (NASDAQ:AZN) drug doubts
Doubts are growing about the reliability of the data provided by AstraZeneca (LON:AZN) and the University of Oxford over the effectiveness of their experimental drug to fight the coronavirus.
Moncef Slaoui, the head of the U.S. Operation Warp Speed team tasked with funding vaccine development, said on Wednesday that the subgroup which reported the highest degree of efficacy in the stage 2 trial data released last week had been restricted to people under 55, an age bracket that appears in any case to be more resistant to the disease, or at least its more severe manifestations.
The test data had shown that the drug had prevented the disease in 62% of people who received two full doses of the vaccine, but 90% in those who received only a half dose to start with. The half-dose experiment started as a mistake but was extended for the sake of consistency.
3. Stocks drift, Bitcoin slumps after rally
Global stocks stayed in mostly positive territory before drifting into range trading as the U.S. Thanksgiving Holiday loomed large over the day’s proceedings.
Weak consumer confidence data in France and Germany were marginally offset by stronger-than-expected credit growth figures from the European Central Bank, which is also due to release the accounts of its last policy meeting later.
By 6:30 AM, the STOXX 600 benchmark index was down less than 0.1%, while the Shanghai Shenzhen CSI 300 index closed up 0.2%.
There was a more violent correction in other markets, where Bitcoin gave up over 10% after an equally violent rally, while Ripple, another popular cryptocurrency, fell 22%.
4. Salesforce talks to Slack
Slack (NYSE:WORK) stock rose 36% on Wednesday to close near an all-time high on reports that it is in talks to be acquired by software giant Salesforce (NYSE:CRM).
Marc Benioff’s company could reach a deal for the office messaging software app within days, according to The Wall Street Journal, but it’s unclear how any deal would be structured. Like many software companies, its valuation is far in excess of what its current financials would usually justify.
For all its popularity, Slack’s shares have failed to capitalize on the trend away from email in offices, and now faces an increasingly acute strategic challenge from Microsoft’s Teams application.
5 Oil steadies after rally; Exxon's gloomy forecasts
Crude oil prices also retraced slightly but stayed close to their post-pandemic highs after some judicious profit-taking
By 6:30 AM ET (1130 GMT), U.S. crude futures were down 1.0% at $45.22 a barrel, while Brent crude futures were down 0.9% at $48.09.
The Wall Street Journal reported on Wednesday that Exxon Mobil (NYSE:XOM) had revised down its estimate of oil prices over the next six years by between 11% and 17%, indicating expectations of a prolonged impact on prices from the pandemic.
Short-term pressures may also be building up, given a surprisingly strong build in U.S.inventorieslast week, according to U.S. government data released on Wednesday.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-03-22]
BTC Price: 4023.97, BTC RSI: 58.86
Gold Price: 1311.60, Gold RSI: 55.23
Oil Price: 59.04, Oil RSI: 62.50
[Random Sample of News (last 60 days)]
This Is What You Need To Know About Digital-Only Banking: Digital-Only Banking Is A Growing Industry Digital-only banking is a growing wave of consumer-oriented banking institutions focused on serving their clientele exclusively through online means. Imagine, a bank you never have to visit, lines you never have to wait in, and no hassles with onerous paperwork and cumbersome cash. In many cases, all it takes to open an account with a digital-only bank is an application and few verification documents. Documents include simple items like scans of ID cards and copies of bills whose account holder and address match the one on the account. A few of the benefits include, but are not limited to; Easy sign-up Quick balance check features through mobile platforms Photo-bill payments, snap a pic and the app pays your bill from your account. Access accounts exclusively through app, reset pins, order cards, etc. Easy expense management, through different hashtags like #expenses, #utilities and other spendings. Real-time data analytics One of the aspects digital-only banks are focusing on is real-time data analytics. This will allow banking apps to warn users when purchases or spending habits are outside their budget or notify them when geo-targeted deals are available. In fact, it is the convenience and customer experience that are driving so many Millennials to the digital-only banking sector. When they get there the speed of transactions and cost-effective fee structures make them want to stay. On the business end, the new-age of digital-only banks are more agile than their brick-and-mortar counterparts. They are virtually 100% cloud-based business leveraging the expertise of cutting edge digital networks rather than relying on stand-alone and often obsolete on-premise technology. Along with this, many of the leading digital-only banks are partnering with block-chain technology like Ripple, Ethereum, and Bitcoin payment services. Cloud-based infrastructure and lower operating costs (no physical presence means less cost) lead to a combined benefit for the bankers and the clientele. Banks can charge lower fees, one of their attractions, and make more money per client. The downside, for clients and banks, is that services are limited to simple banking like checking/debit and savings accounts. Story continues There Is Cause For Concern While digital-only banking offers many benefits to consumers and bankers there are still some risks and causes for concern. The leading risks are threefold; security, customer satisfaction, and scalability. Security at digital-only banks is the primary concern and there are risks for both bankers and clients. The bankers have to be wary of hacking, fraud, malpractice, and regulatory concerns. Clients need to be wary of all the same concerns, and the bankers too. Financial fraud is the #1 Internet crime worldwide and one very easy to perpetrate. Prospective users of digital-only banks are urged to use extreme caution when choosing an institution. Don’t take the word of a website that it is regulated or trustworthy, always check with local banking authorities to be sure your digital bank is legit. Customer satisfaction is also a concern and doubly so because it is tied to one of digital-banking’s biggest attraction’s; no physical locations. Without a physical location, there is nowhere for the customer to turn for help other than the apps, maybe a phone call, and that is a turn-off for many people. In addition, digital-only banks have a harder time making connections with clients so that is a top priority. The problem is that there is little a digital bank can do other than what’s already been done. The final hurdle and the one that may keep digital banking at a small scale is scalability. The digital-only banking sector is hampered by its limited product offering and this, in turn, is hurting customer growth and retention. How Many Digital-Only Banks Are There There are more than enough digital banks on the market to serve the needs of consumers. A quick search of the Internet will turn up at least two dozen top-rated financial institutions with no link to the traditional brick-and-mortar banking system. Digital-Only Banking, On The Rise But Still Just A Niche Market Digital-only banking is convenient, it is cheaper, and it is gaining traction among global consumers. Digital-banking is also shackled by a number of factors that will keep it a niche market, at least for now. Over time, the leading digital-banking institutions will overcome the problems of security and customer satisfaction and that will lead to better scalability. Until then, traders, investors, and clients of digital banks need to be prepared for volatility and churn as the market matures. There are several directions the digital banks can take to help expand their numbers of clients. One direction is cryptocurrency. Digital banks are already partnering with prominent block-chain technologies to power their function, it is only natural for these institutions to list the tokens that underlie the block-chains as well. In that light, it is also natural for the digital banks to expand their services in other directions including loans and other financial products. This Is The Future Of Digital-Only Banking Regardless of the path to growth, digital banks are going to have to work hard to cement their place in the financial landscape. They need to find a way to secure their place in the financial landscape or else run the risk of obsolescence, ironic as that is. The outcome, for the consumer, is likely to a blend of digital and traditional banking. The two will work hand in hand to provide financial products, access to markets, and account services across the spectrum of fiat and cryptocurrency. Imagine, shifting some money from a traditional bank to a digital bank for use on a trip. The digital bank can exchange your money into any currency you need, for access on your ATM card. The ATM card is accepted everywhere in the world because it is backed by block-chain and local currency. How easy is that? This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 10/02/19 Price of Gold Fundamental Weekly Forecast – With Dollar Relationship Skewed, Investors Will Turn to Stock Market Volatility for Direction Demand Worries Pressure Crude Oil, Natural Gas while Strong Dollar Caps Gold Oil Price Fundamental Weekly Forecast – Sideways to Lower Trade with Stock Market Adding to Volatility Dovish Central Bank Outlooks Make U.S. Dollar More Desirable Asset Total Makes Big Offshore Oil Discovery in South Africa || $190 Million in Crypto Gone Forever, How Canada’s Biggest Bitcoin Exchange Lost it All: empty safe cryptocurrency exchange hack bitcoin QuadrigaCX, the largest bitcoin exchange in Canada, has lost $190 million worth of crypto after it lost access to its cold storage wallets. An affidavit filed on January 31 with the Supreme Court of Nova Scotia revealed that $190 million in Bitcoin, Bitcoin Cash, Bitcoin Cash SV, Bitcoin Gold, Litecoin, and Ethereum were lost. How Did the Bitcoin Exchange Lose All of its Crypto Funds? bitcoin wallet crypto QuadrigaCX claims it can’t find its crypto wallets. | Source: Shutterstock The affidavit, first obtained by CoinDesk , was filed by Jennifer Robertson, the widow of QuadrigaCX founder and CEO Gerald Cotten. Read the full story on CCN.com . || Crypto the movie: Oscar fodder or Hollywood hack job?: A film about Bitcoin is being released this year under the title of “Crypto”. What will the film highlight? Perhaps issues of privacy in today’s creeping surveillance state? Maybe the effects of the 2008 Financial Crisis that the world continues to see in our politics? Nope. Of course, Crypto the movie has to be about money laundering and those pesky Russians! It might sound a bit harsh to judge a film by a trailer, but having suffered through two minutes of the Crypto trailer, I can’t help but think they are two minutes I will sadly never get back. What could have been an interesting film looking at the intricacies of cryptocurrencies and their philosophical underpinnings is instead getting the Hollywood treatment. With Russian hysteria maxed out in the US, it makes perfect sense to create a crime thriller based on them laundering money through Bitcoin. Never mind that each week we see news of banks – the same ones that caused the 2008 Financial Crisis – committing more money laundering crimes and facing fines that are merely a pinch in the pocket. But alas, we should hodl off judgement until the film is released and see how they portray “crypto”. The film trailer could have been worse as well. They could have portrayed the idea of cryptocurrency traders being akin to flash rich boys splurging their money on stupid items a la the fake forex traders that have become prominent on Twitter and YouTube who flash their Gucci bags. That truly would have been painful. If you can’t tell, my hopes are not high for the future of films that involve cryptocurrencies. Whilst there are many faults within the space, it is unlikely Hollywood will ever understand the nuances to create an interesting and gripping story. Instead, we can expect the easy Hollywood treatment of the usual issues that critics point to, mainly money laundering and illegal activity. The post Crypto the movie: Oscar fodder or Hollywood hack job? appeared first on Coin Rivet . || Reality Shares Files Plans For A Futures-Based Bitcoin ETF: This article was originally published onETFTrends.com.
Another exchange traded funds issuer is trying its hand at bringing a bitcoin ETF to market. Reality Shares, which currently sponsors two blockchain ETFs, filed plans with the Securities and Exchange Commission (SEC) to launch the Reality Shares Blockforce Global Currency Strategy ETF.
In addition to including bitcoin futures, the Reality Shares bitcoin ETF would include “high-quality, short-term sovereign debt instruments listed for trading on U.S. exchanges and denominated in U.S. dollar, euro, British pounds sterling, Japanese yen and Swiss francs,” as well as bitcoin futures, money market mutual funds and/or other cash equivalents,”according to the filing.
Some digital currency market observers have long viewed U.S. approval of a bitcoin ETF as pivotal to increased adoption of the cryptocurrency.
In 2018, bitcoin shed almost 80% of its value. Among the issues plaguing bitcoin; last year were the ongoing unwillingness of U.S. regulators to approve bitcoin-related exchange traded funds as well as data indicating that mainstream acceptance and adoption of the digital currency are declining.
Patiently Waiting
To date, U.S. regulators have consistently rejected efforts by ETF issuers to bring bitcoin-related ETFs to market.
Last year, the SEC rejected the applications, preventing the digital currency from gaining more acceptance from investors who are wary of the unregulated exchanges of cryptocurrencies. The SEC’s Division of Trading and Markets rejected applications from investment firms ProShares, Direxion and GraniteShares.
The Reality Shares fund, assuming it launches, would contain bitcoin futures trading on the CBOE and CME.
“The Fund expects to obtain exposure to Bitcoin Futures by investing up to 25% of its total assets, as measured at the end of every quarter of the Fund’s taxable year, in a wholly-owned and controlled Cayman Islands subsidiary,” according to the filing.
The proposed bitcoin ETF would be actively managed.
Reality Shares currently offers theReality Shares Nasdaq NexGen Economy China ETF (BCNA) and theReality Shares Nasdaq NexGen Economy ETF (BLCN), both of which debuted last year.
For more information on the cryptocurrency market, visit theBitcoin category.
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READ MORE AT ETFTRENDS.COM > || Binance Coin (BNB) makes new all-time high against Bitcoin: Welcome back to Coin Rivet TV! In this video, Oliver and Nawaz take a look at the Binance Coin chart. Thanks for watching, we will see you again next time! #BNBUSD #BNBBTC #BNB #Binance #cryptocurrency #technicalanalysis The post Binance Coin (BNB) makes new all-time high against Bitcoin appeared first on Coin Rivet . || Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bulls Are Active At Current Levels, But Bears Do Not Hibernate: • The price of Bitcoin is under pressure with risk of extreme movements.
• ETH/USD holds above $100 and shows buying activity.
• XRP is in a good position for rises but needs time to consolidate.
The news of the day is that VanEck SolidX in collaboration with the CBOE has resubmitted their license request for an ETF on Bitcoin to the SEC. The headlines that accompany this news already warn that this issue may take a long time, even beyond the end of this year.
Of course, no one knows when the SEC can give its approval. They have previously warned that they are in no hurry to address this controversial issue.
However, something is going to happen in the short term. I don't know if the price of Bitcoin is going to plummet back to the 2018 lows of $3,150 or if there is an attack on the critical level of $4200, but something is yet to come. If we apply the Bollinger bands in the daily range chart, we see that the price is in a compression situation that will explode sooner rather than later.
BTC/USD 240 Minute Chart
The BTC/USD pair is currently trading at the $3.396 price level and trying to overcome the $3.400 resistance level (price congestion resistance). Of the three leaders in thecryptocurrenciesmarket, Bitcoin showed the least bullish power at the beginning of the week.
Below the current price, the first support level for BTC/USD is at the $3,300 price level (congestion support). The second support level is $3,240 (price congestion support) while the third support level is $3,150 (price congestion support and relative lows).
Above the current price and beyond the resistance at $3,400, theBTC/USDpair must overcome a significant resistance at $3,465 (EMA50 and price congestion resistance). From this price level to the next resistance there is a free space that is only occupied by the SMA100 at $3,536, a level that if the BTC/USD can pass, it will take us directly to the $3,600 level (price congestion resistance). Finally, the third resistance level is at $3,690 (price congestion resistance), a level that is reinforced by the presence of the SMA200 at $3,670.
The MACD on the 4-hour chart completely loses its bullish slope, and the opening between the lines disappears. The structure is propitious for a new upward movement, but the weakness shown by the Bitcoin reduces its potential.
The DMI on the four-hour chart shows bears having trouble staying above the ADX line. The bulls also show a lack of strength. The technical scheme is more conducive to climbs than to descents.
ETH/USD240 Minute Chart
The ETH/USD pair is currently trading at the $106 price level, recovering support at $105.5 (price congestion support). TheEthereumis, of the three market leaders Crypto, the only one that at this time achieves the security of clear support level.
Below the current price, the ETH/USD pair has first level support beyond the one mentioned above is at $97 (price congestion support). This level is crucial in allanalysistimeframes, since losing it would bring the price to the $85 level (price congestion support). The third level of support is at $82 (price congestion support).
Above the current price, the first resistance level is at $109.4 (price congestion resistance), a level that is reinforced by the presence of the EMA50 at $110.2. The second resistance level is at the price level of $115 (price congestion resistance and SMA100). From this price level, the ETH/USD pair would jump to the third resistance level at $130 (price congestion resistance and SMA200).
The MACD on the 4-hour chart is similar to that seen on theBitcoin. In this particular case of the ETH/USD, it retains a slight uptrend, but the line spacing has wholly disappeared. It is a setup propitious for an upward movement.
The DMI on the 4-hour chart shows how the bears have been losing strength in the last few days as the bulls reacted by increasing their activity to lower price levels. It is clear that they consider the current price levels as an opportunity.
XRP/USD 240 Minute Chart
The XRP/USD is currently trading at the $0.305 price level. Yesterday, the XRP fell sharply but respected the $0.30 level.
Below the current price, the first support level is at the $0.296 price level (price congestion support). The second support level for the XRP is $0.28 (price congestion support), an essential level since losing this support would lead the XRP/USD pair in the direction of the 2018 lows at $0.257 (price congestion support and relative minimum).
Above the current price, the first resistance level is $0.3082 (price congestion resistance and EMA50). The second resistance level is at $0.32 (price congestion resistance), a level that is reinforced by the presence of the SMA100 at $0.316. Finally, the third resistance level is at $0.335 (price congestion resistance and SMA200).
The MACD on the 4-hour chart shows a cross-profile downward but within the bullish zone of the indicator. The typical development of this structure is usually a lateral bullish behavior.
The DMI on the 4-hour chart shows bears again more active than bulls but for a small advantage. Both sides of the market show significant levels of activity, so a clear break in either direction can find considerable support.
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain Analysis Ties 5 Bitcoin Addresses to QuadrigaCX Exchange: Blockchain watchers have identified a group of bitcoin addresses that likely belong to one of the so-called cold wallets of failed crypto exchange QuadrigaCX.
The discovery is notable in light of QuadrigaCX’sclaimthat it has been unable to access these wallets â which held the lion’s share of the $190 million owed to customers â since the death in December of CEO Gerald Cotten. In court filings, the company has said Cotten had the sole responsibility of moving funds from the exchange’s “hot,” or active, wallet to offline “cold” storage.
But Quadriga did not share its cold wallet addresses, driving many researchers to try to trace transactions to determine which wallets these were, as well as whether they truly contained the $136 million in cryptocurrencies, including about $92 million worth of bitcoin, said to be held offline. (Another $53 million of customers’ fiat currency has been held up at payment processors.)
QuadrigaCX Lost Another $500K in Bitcoin By Mistake: EY Report
A clue came on Tuesday, from Ernst & Young (EY), QuadrigaCX’s court-appointed monitor in thecreditor protection case. In its first progress report to the Canadian court, EY revealed that on Feb. 6 Quadriga had mistakenlyÂtransferred 103 BTC(around $350,000) to the “cold wallets which the Company is currently unable to access.”
Internet sleuths then found a group of addresses that had received multiple small transfers on that date totaling 104.335 bitcoin â nearly the same amount mentioned in the report. Prior to this, these addresses had not seen any transactions since April.
Reddit user Decozepublishedthe addresses of these wallets on Wednesday:
1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa â received 36.37786282 BTC,1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB â received 33.19556316 BTC,1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M â received 19.54328527 BTC,1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe â received 10.34268585 BTC,1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R â received 4.87560516 BTC.
Funds Were Moving On QuadrigaCX Right Before Its Collapse
Further supporting the connection, the first address once received a small amount of bitcoin from 3N8auHdN9rtmHDHqNnXK4eWhfukBAQcve1, the same address that was listed as QuadrigaCX’s hot wallet by the exchange’s owners in a courtaffidavit.
Plus, those five addresses had earlier been “clustered” together, or determined to belong to the same entity, by two blockchain analysis sites,WalletexplorerandOXT.
Laurent, a developer at OXT who would not disclose his last name, told CoinDesk he also believes theclusterto be related to QuadrigaCX based on patterns of transactions it sent and received.
Stepping back, it’s important to be careful when analyzing the bitcoin blockchain, or any other public ledger that relies on unspent transaction outputs (UTXOs).
Unlike the account-based ethereum, in bitcoin, what can be considered a “wallet” is often not one address but a group of them. In the UTXO model, addresses designate not accounts but transaction outputs, i.e. the parts into which initial amounts of bitcoin are split during transactions.
“These addresses are automatically clustered thanks to a script processing a conservative version of a method called the ‘merged inputs heuristic’,” Laurent said in explaining how OXT draws connections between addresses. “In its basic version, the ‘merged inputs heuristic’ states that all addresses associated to the inputs of a bitcoin transaction are controlled by [the] same entity and should be clustered.”
However, Laurent warned that bitcoin blockchain analysis, by its nature, cannot lead to exhaustive, unambiguous conclusions.
For example, he said, the Mt Gox exchange, which failed spectacularly in 2014, had a feature that confused the analytics platforms, “leading to the appearance of a giant cluster merging wallets controlled by independent entities. As a result, some analytics platforms label all the addresses of this cluster as ‘suspicious’ because some transactions found in the cluster seem related to dark markets.”
The lesson, he said, is simple:
“Despite what many people think, blockchain analysis is far to be 100%Â reliable.”
With those caveats in mind, there’s one more interesting piece of information about the five addresses now believed to be QuadrigaCX’s cold wallet.
In his Reddit post, Decoze noted that in December 2017 â a year before QuadrigaCX’s unraveling â the first and second addresses in the group sent transactions to address No. 1PdBMFkicx1vTHs9P6whPGondSVcmndVha, which he determined belongs to another exchange, Bitfinex.
“Experience (or google) with the BTC blockchain and popular exchanges shows this is the main collection address of Bitfinex’s hot wallet,” Decoze wrote. “This means we can be very confident 1PdBMFkicx1vTHs9P6whPGondSVcmndVha was a deposit address generated by Bitfinex for a customer.”
Laurent told CoinDesk he, too, had identified transfers to Bitfinex from the cluster.
“My main theory is that it might be a wallet controlled by QCX and used as a kind of ‘pivot wallet’ between QuadrigaCX hot wallet and several exchanges. Large financial flows (in/out) can be observed between this wallet and exchanges like Bitfinex,” Laurent said.
This would be consistent with a pattern observed on the ethereum blockchain, where CoinDesk and independent researchers identified a significantflowof Quadriga’s funds to Bitfinex and other exchanges as well.
Gerald Cottencirca 2015 image via Decentral.
• A Fight Is Brewing Among QuadrigaCX Crypto Exchange’s Creditors
• Canadian Watchdog Says It Doesn’t Regulate QuadrigaCX Exchange || Is there really a blockchain revolution?: Blockchain is currently one of the biggest buzzwords in fintech. There are numerous financial institutions, small start-ups, and big brands investing in the blockchain revolution. Despite this, there are still questions over whether there really is a blockchain revolution taking place at all. Depending on your viewpoint, the answer will definitely vary. The use of blockchain through the Bitcoin network One of the main uses of blockchain technology is to underpin the Bitcoin network. Through a blockchain, you are able to send Bitcoin anywhere to anyone, with no third party able to stop you. This is the key benefit of using blockchain technology in Bitcoin – it is permissionless. However, this also comes with drawbacks. The Bitcoin blockchain is quite slow at processing transactions. Yet this was a design feature incorporated from the beginning to protect the decentralised nature of the network. Other cryptocurrencies can deal with more transactions per second, but to do so, they reduce the decentralised nature of their own cryptocurrencies. Other use cases of blockchain technology Blockchains have often been compared to slow and inefficient databases. If this is so, then why are so many companies taking their time to invest money into the industry? For many Bitcoin maximalists, the answer is simple: they do not understand the technology. Permissioned blockchains are one such issue. The point in using a blockchain is for it to be permissionless. A permissioned blockchain akin to Bitcoin would create a system similar to that of traditional centralised banks, thereby rendering it not only pointless but even slower than the traditional financial system. Banks have been looking at the possibility of using blockchain to improve their cross-border payment systems, which still currently rely on the Swift network. JP Morgan has announced it is releasing its own version of a cryptocurrency, but details on how this will work are still slim. Story continues Another aspect that could be harnessed by financial institutions through blockchain is reducing the risk of fraud. Currently, with data stored on a central database, there is one single point of attack for a would-be hacker. By splitting this data up onto a blockchain, hacking could theoretically become much more difficult. The financial industry is not alone in examining the blockchain hype. A number of different sectors are looking into the potential of the technology, including gaming, energy, gambling, and porn – even the film industry has jumped on board with the new film Crypto . Were each of these industries to successfully incorporate blockchain technology into their businesses and improve the result for the consumer, then the revolution will have definitely happened. As of yet though, there are very few tangible blockchain-based products, let alone any that have reached the mainstream. In spite of this, there are many more ideas for incorporating blockchain into daily life in industries where you didn’t even think it was imaginable. The hype of blockchain technology is real. Whether this is good or bad is yet to be discovered. The booming blockchain conference industry One industry that has blossomed through blockchain though is that of the speaker circuit and conference industry. Of course, a blockchain isn’t even used here, but companies are able to gather folk to pitch their revolutionary products to like-minded people. Having attended a few of these blockchain conferences though, it is rare that any of the products are anything more than a cash grab. And herein lies the issue in the blockchain space. By adding blockchain to your business, you instantly gather more interest than if you didn’t. As such, there are too many poorly-thought-out ideas and sometimes outright scams that make the idea of a blockchain revolution look a mile off. Conclusion Many people still believe both Bitcoin and blockchain are very much in their infancy. One could argue that there has already been a blockchain revolution through the advances and growth of cryptocurrencies. The only issue with this is no one can know whether they will have the staying power. If Bitcoin is still around in 10 years and is still being used, then that would be a revolution on its own. There are many people who are adamant that there will be a blockchain revolution in the next five years. Yet there are also many who viewed the whole industry as an overhyped bubble. Similar issues arose with the internet. It is too early to say that there is a blockchain revolution on a grand scale though as there are very few working products incorporating blockchain. So far, a select few cryptocurrencies have achieved success. If or when blockchain becomes a daily part of life, then we can look back and say that we lived through the blockchain revolution. The post Is there really a blockchain revolution? appeared first on Coin Rivet . || The Hostile Media Narratives About Bitcoin’s Environmental Impact Are Total Garbage: If you’ve been following the news and social media discussion regarding Bitcoin for very long at all you’ve likely seen multiple articles castigating Bitcoin as a harbinger of environmental degradation and destruction.
Even startups in the crypto space fuel the narrative. People have spent hundreds of millions of dollars on more than onealtcointhat specifically markets itself as a less electricity-intensive, more environmentally friendly alternative to Bitcoin.
(I won’t name any names, but in my opinion, some of these are incredibly risky investments. People buy tokens from their ICOs hoping to get rich quick after seeing what happened to early Bitcoin adopters, but their white papers are more marketing than technical problem solving, and most people in their right mind wouldn’t buy IPO shares in these companies if they weren’t marketed as cryptocurrency tokens.)
The way the mainstream media has painted Bitcoin, it’s like one of the four horsemen of the environmental apocalypse. Did you know that Bitcoin mininguses more electricity than the entire countries of Portugal or Singapore(!)?Or that Bitcoin uses thousands of times more electricity per transaction than a VISA transaction?
Read the full story onCCN.com. || Bitcoin Bears Maul Another Victim: Crypto Exchange Coinsquare Lays off a Third of Employees: It has already been a tough few months for the crypto industry and nobody is feeling that more than crypto-related employees who have been dropping like flies in recent weeks. Canadian based cryptocurrency exchange Coinsquare is the next crypto firm to lay off workers as the market goes through difficult times.
Coinsquarehas reportedly laid off 40 employees, which equates to approximately a third of their staff. Cryptocurrency exchanges are currently feeling the brunt of increased regulatory requirements and the massive decrease in Bitcoin prices that are currently teetering around $3,500.
Something has to give, and that is what we are currently seeing with employee culls across numerous crypto exchanges and industry-related companies.
The Head of Talent at Coinsquare,Martin Hauck, took toLinkedin to announce the job losses. Hauck detailed that the unpredictable and volatile nature of the cryptocurrency markets in recent months is the main reasons for the lay-offs. Hauck told the crypto-sphere on Linkedin that:
Read the full story onCCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
#Bitcoin $3,834.98 v #BitcoinCash $273.43 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.37 v #BitcoinCash ~$0.00 - 2019/02/27 14:00JST || What would you need to be bullish on $btc #bitcoin ? || It could@change if btc moves and Coinbase listing rumors are strike for XLM || 13Feb2019 18:00 UTC #Bitcoin #Blockchain status - Last 24h: 133 blocks mined - 3,587,635 BTC output - 315,513 transactions || #LTC
Buy at #Bitstamp and sell at #Cex. Ratio: 0.83%
Buy at #Bitstamp and sell at #Bitfinex. Ratio: 1.45%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || The 3 Woke Men, and it was Bitcoin, a Lush gift box, and Meh! || #Blockchain #Cryptocurrency #ICO #Grabity #Bitcoin #Ethereum #EOShttps://twitter.com/GrabityOfficial/status/1087968427904548866 … || 10 Hottest Stocks at Fri, 08 Feb 2019 05:00:40 EST : BTC, EURUSD, FB, TSLA, TGTX, AMZN, ESTE, MA, LTC, INTC http://dlvr.it/QyS80H || 1: Bitcoin average price is $3583.9737629 (-0.27% 1h)
2: XRP average price is $0.3107674369 (-0.52% 1h)
3: Ethereum average price is $115.150218268 (-0.5% 1h)
4: EOS average price is $2.4007581248 (-0.91% 1h)
5: Bitcoin Cash average price is $123.530185557 (-0.12% 1h) || #Crypto #cryptocurrency
RVN/BTC sortie du triangle de compression et pool back sur la ligne
https://www.tradingview.com/x/8Rdie59t/ pic.twitter.com/F1zhJ88cwe
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Trend: up || Prices: 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-01-25]
BTC Price: 391.73, BTC RSI: 44.46
Gold Price: 1106.20, Gold RSI: 57.98
Oil Price: 30.34, Oil RSI: 41.05
[Random Sample of News (last 60 days)]
SEC Charges Bitcoin Mining Firm in Ponzi Scheme: The U.S. Securities and Exchange Commission (SEC) charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. The complaint was filed in federal court in Connecticut.
“Mining” for Bitcoin or other virtual currencies can be described as applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency. The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.
The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.
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However, GAW Miners and ZenMiner actually did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed. Returns paid to some investors came from proceeds generated from sales to other investors.
Paul G. Levenson, director of the SEC’s Boston Regional Office, said:
As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another.
ALSO READ:Jefferies Has 4 Blue Chip High-Dividend Franchise Picks to Buy Now
According to the SEC’s complaint:
• From August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
• More than 10,000 investors purchased Hashlets, which were touted as always profitable and never obsolete.
• Although Hashlets were depicted in GAW Miners’ marketing materials as a physical product or piece of mining hardware, the promised contract purportedly entitled the investor to control a share of computing power that GAW Miners claimed to own and operate.
• Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality GAW Miners directed little or no computing power toward any mining activity.
• Because Garza and his companies sold far more computing power than they owned, they owed investors a daily return that was larger than any actual return they were making on their limited mining operations.
• Therefore, investors were simply paid back gradually over time under the mantra of “returns” out of funds that Garza and his companies collected from other investors.
• Most Hashlet investors never recovered the full amount of their investments, and few made a profit.
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• America's Best and Worst States to Live In || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year. This year, bitcoin startup Ledger is keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event. Physical Bitcoin Storage Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card. Related Link: Can The Bitcoin Foundation Last? This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords. Bitcoin's Year Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board. Image Credit: Public Domain See more from Benzinga Virtual Reality In 2016 Is Tesla A Good Investment For 2016? 3 CEOs Who Made Headlines In 2015 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || One statistic perfectly encapsulates the impact of technology on Wall Street jobs: ( MARK RALSTON/AFP/Getty)
In 2000, Goldman Sachs had 600 traders in New York City making markets in US stocks. Today, that number is down to fewer than 10.
The statistic is one of several nuggets from a Credit Suisse report on how the bank uses technology, following a conversation withchief information officer Marty Chavez.
The analysts estimate that Goldman spends $2.5 billion to $3.2 billion on technology each year, or about 7% to 9% of revenue.
This has big implications for the bank's staff. In some ways, technology can make their lives easier. Last month, the bankannounced an initiativedesigned to make the lives of junior investment bankers easier — by letting technology do more of the grunt work for them.
But technologymight also soon replacemore workers.
The note said (emphasis added):
Embrace Disruption—management of Goldman is very much of the belief—and we can't argue with this—that there will be far more value ascribed to those who embrace new, albeit disruptive, technologies.This disruption can be people "destructive" at times, but it can be far more destructive to be left behind in a business poised for profound change. Importantly, these changes may be disruptive, but also both relationship and profit margin enhancing, through delivery of a better product to Goldman's clients.
There are ways for Goldman to be more efficient with its tech spending. About 30% of the annual expense goes to maintenance, which covers things like communications, market-data expenses, and software licensing. The bank wants to get that down to 10%, which is more comparable with software companies.
That would free up $600 million to $800 million, which could either go back to the bottom line, or be reinvested strategically, Credit Suisse estimates.
These strategic investments could include things like investing in blockchain technology that underpins the use of bitcoin, with the Credit Suisse analysts noting that Goldman Sachs is "very interested in the use of Blockchain/distributed ledger technology."
Other investments include Symphony, the instant-communications platform out to displace Bloomberg's terminal, and Goldman's Marquee app, which delivers data and analytics to staff and is being rolled out to clients.
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• Morgan Stanley has some answering to do || Can The Bitcoin Foundation Last?: The Bitcoin Foundation was launched in 2012 as a way to provide legitimacy to bitcoin and cryptocurrencies at a time when they were relatively unknown. For two years, the foundation worked to lobby lawmakers, create public awareness and help bitcoin technology advance with the changing times. However, in 2014 when the price of bitcoin dropped dramatically, the foundation lost a great deal of its funding and now almost two years later, it continues to struggle. Money Issues One of the foundation's largest problems lies in its finances. The Bitcoin Foundation's board members have proven inexperienced at raising money and managing finances, an issue that has caused the organization to lose around $7 million over the course of the past two years. Related Link: What's In Store For Bitcoin In 2016 On December 15 when the Bitcoin Foundation held its board meeting, Executive Director Bruce Fenton admitted that the organization was in dire straits and that more funding would be required in order to keep the foundation up and running, according to Bloomberg. A Bad Reputation However, while the bitcoin community strongly supports spreading the word about cryptocurrencies, the Bitcoin Foundation has found it increasingly difficult to recruit new members and drum up donations. One of the reasons for this has been the organization's deteriorating reputation. As bitcoin itself was dragged through the mud due to high profile scams, some Bitcoin Foundation board members were wrapped up in scandals of their own. Former Vice Chairman of the Bitcoin Foundation Charlie Shrem is serving time in prison for his involvement in the illegal Silk Road marketplace, and founding member Mark Karpeles, the brain behind failed exchange Mt. Gox, was arrested on charges of embezzlement in August 2015. Does Bitcoin Need A Foundation? While the Bitcoin Foundation has been instrumental in helping the cryptocurrency advance, many believe the currency is likely to survive even without the organization. While the Bitcoin Foundation represents the first major entity to advocate cryptocurrencies, several others have since emerged and will likely take on the organization's role should it deteriorate further. Story continues Hanging On By A Thread On December 22, the Bitcoin Foundation voted to continue into the New Year and appointed three new board members. In an effort to turn things around, the foundation is working to revamp its mission statement and focus on maintaining healthier financials. Image Credit: Public Domain See more from Benzinga What Does The End Of The Oil Export Ban Mean For Investors? Could 2016 Be The Year Of Drone Deliveries? Are Bank Stocks The Way Forward In 2016? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || SEC Targets Connecticut Bitcoin Companies: The Securities and Exchange Commission on Tuesday charged two Connecticut-based Bitcoin mining companies and their founder with running a Ponzi scheme that defrauds investors.
Homero Joshua Garza allegedly committed the fraud through two companies, one called GAW Miners and the other ZenMiner, by purporting to offer shares of a digital Bitcoin mining operation, according to the SEC’s complaint filed in federal court in Connecticut.
The complaint describes “mining” for Bitcoin or other virtual currencies as applying computer power “to try to solve complex equations that verify a group of transactions in that virtual currency.” The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.
Garza allegedly lied to investors about his companies’ ability to mine for Bitcoin. In a statement, the SEC said GAW Miners and ZenMiner in fact didn’t own enough computing power for the mining they promised to conduct, “so most investors paid for a share of computing power that never existed.”
In classic Ponzi scheme form, returns paid to some investors came from proceeds generated from sales to other investors, according to the SEC.
“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson, director of the SEC’s Boston Regional Office.
The SEC’s complaint charges that from August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality Garza’s companies “directed little or no computing power toward any mining activity,” according to the SEC.
Garza and his companies allegedly sold far more computing power than they actually owned and paid out daily returns collected from other investors rather than from currency derived from “mining” for currencies. Most Hashlet investors never recovered the full amount of their investments, and few made a profit, the SEC said.
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• The 10 Biggest Strikes in American History || Global Arena Holding Subsidiary Attends Final Demo of Blockchain High Speed Scanning and Voting Tabulation Software: NEW YORK, NY--(Marketwired - Dec 7, 2015) - Global Arena Holding, Inc. (OTC PINK:GAHC), (the "Company") announced today that its subsidiary, Global Elections Services ("GES"), successfully completed its final testing of the blockchain voting tabulation system developed by Blockchain Technologies Corporation ("BTC").
In early November, GES executives conducted their first round of tests on a blockchain tabulation system designed by BTC as a technology upgrade for one of the current methods the elections company uses. While those initial tests did give Ms. Maralin Falik (CEO of GES) confidence in the system's user interface, as expected from a 35 year industry veteran, she sent BTC back with additional specs to be met. After several more iterations by BTC's software engineers, GES conducted their final test of BTC's blockchain scanning and voting tabulation system with great success.
"GES strives to provide the highest standards in the election process. All of our municipal public elections must conform with the regulations of the United States Department of Labor, which has very stringent requirements," stated Maralin Falik. "Conforming to these standards is crucial. Working with BTC, we will now be on the cutting edge as an early adapter of a world changing technology, which will transform the election process in an efficient and credible way while maintaining the level of integrity the Department of Labor requires and expects."
Ms. Falik continued, "We are very pleased with the results of this demonstration for Scanning and Tabulating Mail-in Ballots. We will look to move forward with BTC's technology at our elections, and quickly begin expanding our reach, securing many different types of elections, on a global scale."
BTC CEO Nick Spanos stated, "At Blockchain Technologies Corporation, we pride ourselves on achieving real world blockchain integration. Through a partnership with GES, we will revolutionize election processes with the unveiling of the world's first blockchain voting tabulation system. In this case, we have modified our patented platform to coincide with the Department of Labor specifications. This will allow for greater transparency, accessibility and security for Union elections."
Mr. Spanos continued, "This is just the beginning. Keep in mind, this blockchain voting tabulation system is only utilizing a small segment of our elections platform. I have over three decades of experience engineering electoral management software. So Maralin will have many options to grow GES with our technologies and applications, and we will support her every step of the way."
John Matthews, CEO of Global Arena Holding, Inc., said, "When we began investing in Blockchain Technologies Corporation, we envisioned great synergies between GES and BTC. Today, it looks as though our ambitions are materializing. This relationship will pave the way to a new standard in 21st century voting, with the integrity of every election now being secured by the blockchain."
Mr. Matthews continued, "This new process will also mean continued growth and potentially increased revenues to GES, while concurrently providing an income stream for BTC. So instead of paying third party providers for tabulation services, GES will pay a technologically advanced company [BTC], which Global Area Holding has a vested interest in." Mr. Matthews additionally stated, "This demonstration of the High Speed Scanning and Tabulation Software is phase one of GES' growth strategy. The Company expects further software upgrades using the blockchain to enhance our other current services which include; Internet Voting, In Person voting, and Hybrid Elections."
At this point, the next step is for GES to sign an agreement with BTC and begin conducting elections using BTC's blockchain voting system. The Company's management is excitedly looking forward to this collaboration being consummated.
About Global Arena Holding
The Company trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc., GAHI Acquisition Corp and Blockchain Technologies Corporation Inc. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
For more information visit:http://globalarenaholding.com
Twitter:www.twitter.com/GlobalArenaGAHCFacebook:www.facebook.com/GlobalArenaHoldingGAHCLinkedIn:www.linkedin.com/pub/global-arena-holding/107/86a/a7Google+:http://tinyurl.com/GlobalArenaHolding
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission. || Lead developer quits bitcoin saying it 'has failed': By Jemima Kelly LONDON (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development. "Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium. Along with Gavin Andresen, who was chosen by bitcoin's elusive creator Satoshi Nakamoto as his successor when he stepped aside in 2011, Hearn has been locked for months in a battle with the other lead developers over whether the "blocks" in which bitcoin transactions are processed should be enlarged. Each block currently has a capacity of one megabyte, which Hearn says is "an entirely artificial capacity cap", and allows a maximum of just three payments to be processed per second. In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow. But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn. Hearn says the bitcoin network is about to run out of capacity as the volume of transactions increases. And when that happens, the network will become unreliable, with payments unable to be processed and vulnerable to fraud. "If an IT system runs out of capacity like that then all kinds of things go wrong – all hell breaks loose," he said in an interview with Reuters in late December. Story continues Hearn reckons the bitcoin community has "failed" in its governance of the crytocurrency's code. "What was meant to be a new, decentralised form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people," he wrote. SUDDEN DEPARTURE Just months ago, in August, Hearn told Reuters that whether or not Bitcoin XT was adopted, the crypocurrency would live on. "If we thought it might be the end of bitcoin, we wouldn't do it," he said then. Bitcoin was trading at around $390 on the itBit exchange (BTC=ITBT) by 2000 GMT, down from $430 before Hearn's blog post was published. In his December interview, Hearn said that when people realised that the bitcoin network was at breaking point, the price would fall. "The current price of bitcoin is supported almost entirely by people speculating on its future, in the assumption that this could be the money of tomorrow," he said. "So if the network starts to collapse, then a lot of people are going to look at it and say: well maybe we've miscalculated (its) future value." Hearn is now working for the R3CEV consortium of banks working on using the blockchain technology that underpins bitcoin in financial markets. Stephan Tual, the former chief operating officer of blockchain firm Ethereum, who now works at blockchain-based app developer Slock.it, also reckons bitcoin's future looks shaky. "Bitcoin is outdated technology - almost prehistoric by crypto standards," he said. "It's because of petty quarrels such as these that it hasn't been able to evolve in five years." Others were more upbeat. "I'm not ready to declare that Bitcoin has failed," wrote U.S. venture capitalist Fred Wilson. "Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present." (Reporting by Jemima Kelly; Editing by Ruth Pitchford) || 4 stocks to watch after volatile week: After a rough week for U.S. stocks, "Fast Money" traders looked at companies that may hold upside into next year. The major averages all lost more than 3 percent this week, with the Nasdaq (NASDAQ: .IXIC) taking the biggest hit, falling about 4 percent. Amid the struggles, trader Tim Seymour looked to retail giant Wal-Mart (NYSE: WMT) , the worst performer in the Dow in 2015. It has fallen 30 percent this year, mostly on disappointing guidance. Considering the stock's price and strong same-store sales growth in the third quarter, Wal-Mart looks "defensive," he said. Trader Brain Kelly touted BlackBerry (Toronto Stock Exchange: BB-CA) , another beaten down stock which has plunged 30 percent this year. He said the company has started to "pick up a little momentum" on sales, and should benefit as a player in the connected car space. Other traders saw continued upside for names beating broader markets this year. Shares of tobacco company Reynolds American (NYSE: RAI) — which have climbed 38 percent this year to trade around $44.50 — could "easily" rise to $55, said trader David Seaburg. Trader Guy Adami saw upside for MasterCard (NYSE: MA) , which he said has "tailwinds" moving into next year and gets a boost from a recent increase in capital return. The stock has climbed 10 percent this year. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. David Seaburg No conflict Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short Yuan, Candaian Dollar, GSG, EEM, EWC, EWH, SPY Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists.
Bitcoin(: BTC=), the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430.
Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October.
(One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.)
It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015.
In November,digital ecosystem observers told CNBCthat a 70 percent one-month spike may have been caused in part byheadlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain andMasterCard.Others suggestedthat the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO).
For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset.
On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust (more on that ETF-like vehicle can be found here).
"They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically."
Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said.
That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations,countlessarticleswerewrittenaboutbitcoin'spotentialforstrugglingcitizens.
It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential.
Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall offailed exchange Mt. Gox— which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today).
Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation.
Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said.
As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation.
"But," he said, "with bitcoin you have to expect to be surprised."
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• Personal Finance || Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year. Industry juggernaut Carnival Corp (NYSE: CCL ) saw its shares rise 19.43 percent over the course of the year, and Barron's sees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead. Safety In The Water Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent. Related Link: Barron's Picks And Pans: Carnival, Pandora, American Capital And More Expanding Into China Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle, Royal Caribbean Cruises Ltd (NYSE: RCL ) or Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH ) could be smart plays. Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer. Image Credit: Public Domain See more from Benzinga 4 CEOs With A Tough Year Ahead Ledger Fights For Bitcoin's Staying Power At CES 2016 Virtual Reality In 2016 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 298.31£ $BTCGBP $btc #bitcoin 2015-12-15 03:00:03 GMT || LIVE: Profit = $1,132.05 (11.64 %). BUY B23.37 @ $460.00 (#VirCurex). SELL @ $465.10 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000003
Average $1.3E-5 per #reddcoin
20:00:02 || 超级3M是最棒的、最牛的平台，每天做简单任务就有2.67%收益，是真正的国际大盘，错过超级会是你人生的一大遗憾！加入我们.#MMMGlobal https://t.co/NvdeZP9Py2 || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $561.03 #bitcoin #btc || $418.55 at 14:00 UTC [24h Range: $400.00 - $422.30 Volume: 15343 BTC] via #btcusdpic.twitter.com/YPhKjQgd0c || Current price: 386.2€ $BTCEUR $btc #bitcoin 2015-12-29 13:00:07 CET || $430.97 at 19:30 UTC [24h Range: $419.99 - $432.00 Volume: 6414 BTC] via #btcusdpic.twitter.com/EFJLfpgd42 || #RDD / #BTC on the exchanges: Cryptsy: 0.00000003 Bittrex: 0.00000003 Average $1.1E-5 per #reddcoin 09:00:07 via #p…pic.twitter.com/6IUDFVlz7T || BTCTurk 1273.6 TL BTCe 413.09 $ CampBx $ BitStamp 413.00 $ Cavirtex 595 $ CEXIO 417.50 $ Bitcoin.de 383.89 € #Bitcoin #btc
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Trend: no change || Prices: 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59
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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.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Mining Giant Bitmain is Tripling its Development Center in Israel: Bitmain Bitmain, the Chinese bitcoin mining giant valued at $12 billion, is cementing its presence in Israel by planning to triple its employees at its domestic development center. In an aggressive expansion of its research and development center in Raanana, a city in western Israel, Bitmain is looking to recruit over 40 employees to add its current 15 employees situated in the country, Israeli publication Globes reports. Specifically, Bitmain is looking to pull in new blockchain researchers, senior software and security engineers, Python and JavaScript programmers as well as marketing personnel at a time when the erstwhile Chinese-centric firm is foraying toward friendlier jurisdictions around the world. As reported by CCN yesterday, Bitmain moved into a 20,000 square foot office in downtown San Jose, California, a notable expansion for the crypto firm now rubbing shoulders among Silicon Valleys elite. Established in 2016, the crypto giants Israel development center deals in blockchain research while overseeing mining pool ConnectBTC, Bitmains third mining pool launched in April 2017. The company also operates development centers in Hong Kong and Amsterdam. Bitmains head of development at the Israel center Gadi Glickberg elaborated on the recruitment effort, suggesting that the time is right for crypto firms to proactively build and grow when the global hype [surrounding cryptocurrencies] may have calmed relatively to December 2017. He added: The pursuit of talent in the field of digital currency is global. Bitmain has experienced tremendous growth in the past year thanks to the increasing adoption of Blockchain technology in general and, more specifically, of cryptocurrency. Bitmain, which is widely believed to be working toward launching an initial public offering (IPO) later this year that could value the company as much as $40 billion if it went public, concluded a $400 million funding round last month making it the worlds biggest crypto company with a present valuation of $12 billion. Story continues Beyond its strategic expansions with North American mining centers in Washington State and Quebec as well as a new global subsidiary in Switzerland , Bitmain recently invested $50 million for a controlling stake in Opera, a popular web browser, a popular web browser recently introduced a built-in ethereum wallet within its mobile browser interface. Featured image from The post Bitcoin Mining Giant Bitmain is Tripling its Development Center in Israel appeared first on CCN . || How Supersavers Cheat Themselves Out of 401(k) Matches -- And What You Can Do to Stop It: 401(k) plans can be the most useful tool you have in saving for retirement. With these tax-favored retirement accounts featuring ultra-high contribution limits of $18,500 for those who are younger than 50 and $24,500 for those who are 50 or older in 2018, well-off workers often seek to max out their annual 401(k) contributions. Moreover, the fact that many employers add their own matching contributions to the money that you set aside from your own salary is just icing on the cake for retirement savers. Yet there's a trap for those unwary supersavers who seek to set aside as much as they possibly can in a 401(k). If you're not careful with how you manage your savings over the course of the year, you can end up missing out on a portion of the employer matches that you'd otherwise be entitled to receive. Fortunately, it's not hard to find a way around this problem once you're aware of it, but if you don't act, it can cost you thousands of dollars in missed matching contributions. Binder marked Retirement Plan with graphs, pen, and glasses nearby. Image source: Getty Images. The way matching contributions work Many employers choose to provide matching contributions in order to give their workers more incentive to save toward retirement in their 401(k) accounts. Typically, an employer that offers matching contributions will pick a certain percentage of your salary that it will match, along with the proportion of your own contributions it will match. Some employers match your contributions on a dollar-for-dollar basis up to a certain maximum amount, while others will provide a different amount, such as $0.50 for every $1 you contribute. For example, one common matching provision involves employers matching the first 6% of your salary, either with $0.50 or $1 for every $1 in your own contribution. So, if you make $60,000 and get paid once a month, you could choose to contribute 6% of your $5,000 monthly paycheck, or $300. Your employer would then match that with an employer contribution of $150 or $300, depending on the matching provision. Over the course of the year, that'd add up to contributions of $3,600 from you and either $1,800 or $3,600 more from your employer in the form of matching. However, you could save a lot more than $3,600 if you wanted to. If you set aside 30% of your pay, you'd have total annual contributions of $18,000 -- just below the $18,500 maximum for 2018. You'd still get the same match, though, because it applies only to the first 6% you save in your 401(k). The problem with supersavers Neither of the two examples above risks losing any employer matching contributions. But a potential problem comes in if you max out your 401(k) early. That's because once you hit the yearly contribution maximum, your employer will stop taking money out of your paycheck to go toward your 401(k). In some cases, employers also then stop the match -- they haven't yet matched the given percentage of salary. Story continues For example, take the same example above where you save 30% of your salary, but assume that you make $92,500 instead of $60,000. Your monthly pay of just over $7,700 would lead to monthly contributions of $2,312.50, and if you had a dollar-for-dollar match on the first 6% of salary, you'd receive $462.50 in matching contributions. However, at that rate, you'd hit the $18,500 maximum eight months into the year. Beginning in September, your employer would no longer take 401(k) contributions out of your check, and you'd stop getting the $462.50 per month match. For the year, you'd get only eight months' worth of matching, or $3,700, rather than the $5,550 you should have gotten. How to fix the problem To avoid this situation, you have to be smart about how much you save. Specifically, you need to time things so that you max out your 401(k) when you get your last paycheck of the year. That way, you'll get the full match. In the above example, if you divide the $18,500 maximum contribution by the $92,500 salary, you get 20%. So to max out your 401(k) with perfect timing, you'll want to set your contribution at 20% of salary instead of 30%. By doing so, you'd contribute about $1,540 per month, and that'd be enough to get the same $462.50 monthly match. At the end of 12 months, you'd have contributed the same $18,500 maximum, but you'd also have received the full $5,550 available in matching contributions. 401(k) plans are valuable , but you have to know the tricks that can cheat you out of valuable benefits. If you want to max out your 401(k), be sure to do so in a way that avoids missing out on the full amount of the employer match that you deserve. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . View comments || A Foolish Take: America's 5 Best-Selling Electric Vehicles: Electric vehicles (EVs) only account for a sliver of the global auto market, but better batteries, lower price tags, government incentives, and improvements in charging infrastructure should boost sales over the next few years.
The global EV market could grow at a compound annual growth rate of 21.4% between 2018 and 2026, according to ReportBuyer. In United States,Tesla(NASDAQ: TSLA)sold three of the country's five best-selling EVs in the firstfour monthsof 2018.
Data source: InsideEVs. Chart by author.
Tesla'sModel 3is its cheapest EV, sporting a starting price of $35,000. It travels up to 310 miles on a single charge. Its Model S sedan travels up to 335 miles on a single charge and has a starting price of $74,500. The Model X, its luxury sport utility vehicle, has a max range of 295 miles and a starting price of $79,500.
Toyota's Prius Prime plug-in hybrid starts at just $27,100, whileGeneral Motors' Chevy Bolt EV starts at $37,500. These vehicles lack Tesla's brand appeal, but Tesla is still struggling withproduction bottlenecks. If Tesla can't deliver more vehicles on time, bigger automakers like Toyota and GM could gain ground.
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Leo Sunhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy. || A Smarter Way for Bond ETF Investors to Access the Market: This article was originally published onETFTrends.com.
Bond ETF investors looking to potentially help generate improved risk-adjusted returns can consider alternative indexing methodology.
On the recent webcast,Traditional Fixed Income versus Factor-Based, Edward Kerschner, Chief Portfolio Strategist for Columbia Threadneedle Investments, argued that sourcing income and managing potential income volatility in this new rate regime presents unprecedented challenges for investors.
"There seems to be a logical inconsistency in utilizing a cap weighted bond benchmark as an investment vehicle," Kerschner said. "The benchmark index weightings do not foster diversification, with correlations among the components high; positioning investors in the low return/low volatility segment of the market."
Alternatively, Kerschner advised investors to consider a multi-sector bond strategy that screens for opportunities. Investors seeking higher returns could should move out along the risk-reward profile as an alternative indexing methodology that is not restricted by traditional market capitalization weights could address the investment universe screened by yield, quality and liquidity
Looking at the current market conditions, we see that benchmark U.S. Treasury yields are finally pushing up after falling from 15% back in 1982 to under 2% in 2013 due to loose central bank policy rates and quantitative easing.
"The risk today is that with bond yields so low, a modest uptick in yield would produce negative returns," Kerschner said.
During the three-decade long bull run that helped push yields to record lows, many passive bond investors have enjoyed strong returns through diversified exposure through something like the Bloomberg Barclays US Aggregate Bond Index. The so-called Agg was comrpised of 9,397 debt securities worth almost $20 trillion.
However, the Agg is not what is use to be. The Agg held 22% U.S. Treasuries back in 2007, but that exposure has increase to 37% of the index today. Factoring in debt issued by government agencies and mortgage-backed securities, the total government exposure is now over 70%, which leaves investors overexposed to a single segment of the market and susceptible to interest rate risks - MBS pass-through and agency securities exhibit a high 0.81 and 0.93 correlation to U.S. Treasuries.
"Fixed-Income investors limit their opportunity set by focusing on the benchmark-tracking or benchmark-hugging strategies," Gene Tannuzzo, Senior Portfolio Manager for Strategic Income Columbia Threadneedle Investments, said.
On the other hand, Kerschner argued that there is diversification potential if you examine other sectors of the bond market. For example, investors heavily benchmarked to something like the Agg may diversify their portfolios through exposure to other yield-generating opportunities, such as high yield, corporate debt, global Treasuries and emerging market debt, which have much lower cross-correlations to U.S. government debt.
"Moving out along that risk-reward profile finds opportunities that are both less correlated and have historically offer relatively high returns," Kerschner said.
With a well-defined strategy, an investor can manage the potential added risks that come with these higher yield-generating ideas. Tannuzzo pointed out that a bond strategy filtered for opportunity rather than indebtedness may be an attractive alternative. For instance, a yield filter may include multiple sectors throughout the U.S. and around the globe; a quality filter can avoid the "tails of the market" by removing sectors that offer no risk premium and lower quality tiers that have outsized risk; and a liquidity could focus on issues with sufficient tradability to provide investors with liquidity, managed against volatility.
Specifically, the Columbia Diversified Fixed Income Allocation ETF (DIAL) follows an alternative indexing methodology to potentially help bond investors garner improved returns and potentially diminish the negative effects of sudden swings by implementing rules-based screens to covers six sectors of the debt market, focusing on yield, quality and liquidity factors.
The underlying index tries to target the six sectors, including U.S. Treasury securities (10%); global ex-U.S. treasury securities (10%); U.S. agency mortgage-backed securities (15%); U.S. corporate investment grade bonds (15%); U.S. corporate high yield bonds (30%); and emerging markets sovereign and quasi-sovereign debt (20%). Each sector is market value-weighted except for the global ex-U.S. Treasury Securities, which is equally weighted.
"The first ETF of its kind, DIAL provides convenient access to six sectors, attractively priced and managed by senior fixed income portfolio managers," Jay McAndrew, National Sales Manager of Strategic Beta for Columbia Threadneedle Investments, said.
Financial advisors who are interested in learning more about fixed-income strategies canwatch the webcast here on demand.
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READ MORE AT ETFTRENDS.COM > || Intel Reveals Plan to Enter Discrete GPU Market in 2020: In November 2017, chip giantIntel(NASDAQ: INTC)announced that it intended to enter the market for discrete graphics processing units (GPUs). Intel has long produced graphics processors, but they have been relatively low-performance parts integrated alongside its core central processing unit (CPU) products.
These integrated graphics processors are capable of handling basic tasks like video playback and rendering webpages, but for more complex 3D gaming tasks, the performance of these integrated solutions is simply not adequate. People who want to play 3D games on their computers generally need to buy systems with discrete GPUs.
Image source: NVIDIA.
Over the last several years, the market for high-performance discrete graphics processors has been booming, thanks to the rising popularity of computer gaming and the use of graphics processors for data center processing tasks that were previously handled exclusively by CPUs.
Recently, Inteldisclosed to a handful of industry analysts(who then disseminated the information more broadly) that it intends to bring out its first discrete graphics processor products in the year 2020.
Let's go over what this could mean for Intel's business.
Intel's share of the discrete graphics processor market is 0%, so by entering the market with its own solutions, it should -- assuming that its products are competitive -- be able to grow its market share.
I know that sounds pretty obvious, but the point here is that this market is entirely greenfield for Intel, which could translate into significant long-term growth opportunities.
It's hard to find a good third-party estimate of how big the total discrete GPU opportunity is. Market leaderNVIDIA(NASDAQ: NVDA)claims to have "over 90% revenue share" in the markets that it participates in (professional GPU, gaming GPU, and data center GPU). Using NVIDIA's figures, the market was worth around $9 billion (based on NVIDIA's $8.137 billion in GPU revenue during its fiscal 2018).
That market is likely to continue to grow for the foreseeable future.
It's far too early to try to make any predictions around what kind of unit or revenue share of the discrete GPU market Intel could potentially capture, but the point is that this is a market opportunity that looks on track to be worth well over $10 billion by the time Intel ships its first products.
If Intel can, over the long term, capture between 10% and 20% revenue share in this market (admittedly no small feat), then that could add meaningfully to the company's top and bottom lines.
Intel isn't likely to come into this market and capture a bunch of market share overnight. The company needs to actually deliver its first discrete GPU products in 2020. Intel is notorious for missing product introduction deadlines (I've lost count of how many Intel products have been delayed or outright canceled sinceBrian Krzanich became CEO), so while its current publicly stated plan is to bring its first discrete GPU to market in 2020, I'm going to wait and see if the company actually pulls it off.
Once Intel brings its first discrete GPU to market, that won't be the end of the story; the company will need to ensure that it has a pipeline of compelling discrete GPUs in the works. I suspect that it'll take multiple generations of solid execution before the company can start delivering real share gains and revenue growth from this effort.
At this point, while I'm enticed by the possibilities here -- Intel throwing its considerable research and development and marketing might at the market could yield an interesting outcome -- the reality is that I'm not convinced that Intel isn't just going to tuck tail and exit this market if it hits a stumbling block. That's what happened the last time Intel tried to enter the discrete GPU market, and that's what happened to the company's efforts in high-performance computing accelerators andmobile processors.
Intel hasn't proven that it can stick things out over the long term to achieve the business success that it's after.
On top of that, if Intel ties its GPU products to its own chip manufacturing technology, I worry that the company could very well design great products but simply won't be able to bring them into production because of execution issues in its manufacturing group. My confidence in Intel's efforts here would be substantially higher if the company were planning to rely onmore competent third-party chip manufacturersfor these chips over the long term or if Intel were to get its chip manufacturing operations back on track.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has adisclosure policy. || Bank of America Is Going to Dimonland: Bank of America (NYSE: BAC) is packing up its bags for an extended stay. The bank is bucking the trend of branch closures, as it's planning to open as many as 500 branches in new markets, many of them in the old stomping grounds of JPMorgan Chase 's (NYSE: JPM) CEO, Jamie Dimon. At its recent annual meeting, Bank of America outlined plans to expand in nine markets, five of which are JPMorgan Chase strongholds where the company has historically had the benefit of being the only megabank in town. Some banking history While Dimon has become the face of JPMorgan Chase, it's important to remember he came to the institution by way of Bank One, which was folded into JPMorgan in 2004. At the time, Chicago, Illinois-based Bank One was the sixth-largest institution in the United States, and their merger was then the third-largest merger in financials history. Jamie Dimon smiling while sitting on a beige chair. Image source: JPMorgan.com. Bank One was a true "rust belt" bank. By deposits, it was the largest bank in Indiana and Illinois, with its headquarters in Chicago and mortgage and card operations in Indiana. It also ranked as the third-largest bank in Michigan and the fourth-largest institution in each of Ohio and Kentucky. State Deposit Rank in 2003 (Bank One) Deposit Rank in 2017 (JPMorgan) Illinois No. 1 No. 1 Indiana No. 1 No. 1 Michigan No. 3 No. 1 Ohio No. 4 No. 5 Kentucky No. 4 No. 2 Data source: FDIC. Much of the Bank One legacy lives on, even if under a new name. JPMorgan Chase has hundreds of offices littered across these five Midwestern states, ranking no lower than No. 5 by deposits in any given state. Remnants of the Bank One legacy also appear in JPMorgan's core business lines. Its vast card business is owed in part to Bank One, which was the largest Visa issuer in the world when it merged with JPMorgan. The relationship between the card network and card issuer has only strengthened in the years since, as the Dimon-led institution inked a deal to effectively lease Visa's network as if it were its own. Story continues Bank of America's trip to Dimonland Charlotte, N.C.-based Bank of America has many of Bank One's legacy markets in its sights with its expansion plans. In Ohio, it plans to open new offices in Cincinnati, Columbus, and Cleveland. It's also taking aim at Lexington, Kentucky. In Indiana, the bank is opening branches in the capital city of Indianapolis. JPMorgan has a substantial presence in each of these markets, thanks to its acquisition of Bank One nearly 15 years ago. Map of JPMorgan Chase branches in the Midwest US Data source: FDIC. Map by Author, using Google Maps. While these metro areas are served by super-regional banks including PNC , Fifth Third , and U.S. Bancorp , JPMorgan is the only megabank competitor with a true retail operation. Just weeks ago, Wells Fargo decided to sell all of its branches in the Indiana, Ohio, and Michigan. Citi , of course, sticks to the coasts, and doesn't have the retail operation that the other "big four" banks do. The last frontier for growth It was only a matter of time until the nation's largest banks started looking inland for growth. The largest U.S. banks, and particularly Bank of America, have generally focused on the largest 20 metropolitan statistical areas (MSAs). Cincinnati, Columbus, Cleveland, and Indianapolis are ranked No. 29 to No. 34 by population, according to U.S. Census estimates. Given their size, de novo branching is the only way for America's megabanks to grow. The law prohibits banks from acquiring others when they control more than 10% of the nation's deposits. So as smaller banks are rapidly acquiring and merging with one another to scale their operations, Bank of America has to grow the old-fashioned way by opening new branches in new markets. To be sure, Bank of America won't change the Midwestern banking landscape overnight. And while JPMorgan Chase and smaller regional banks would prefer not to compete with yet another financial institution, Bank of America's entry serves as validation that Dimonland is a good place for a bank to be. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jordan Wathen has no position in any of the stocks mentioned. The Motley Fool owns shares of Visa. The Motley Fool has a disclosure policy . || Bitcoin Tanks Again and There is Likely to be More to Come: Bitcoin gained 2.03% on Saturday, partially reversing Friday’s 12.06% tumble, to end the day at $6,165.
It was a relatively range-bound day for Bitcoin following Friday’s sell-off, with a morning intraday low $6,013 holding well above the day’s first major support level at $5,728.13 before a late in the day intraday high $6,259.
With the day’s high also falling short of the first major resistance level at $6,548.33 and well short of the 23.6% FIB Retracement Level of $6,876, the extended bearish trend formed at 5thMay’s swing hi $9,999 remained intact, with the only positive through the day being a hold above $6,000 levels.
The cryptomarket was reminded of what’s to come on the regulatory side, with Japanese regulators stepping up in the wake of recent hacks and over concerns of money laundering and the financing of terrorist activity, with more pain on the horizon before any meaningful recovery can be expected.
Talks of sub-$4,000 levels have started doing the rounds and, when considering the moves through the week, it may come around sooner rather than later.
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At the time of writing, Bitcoin was down 4.78% to $5,858, an early broad based sell-off seeing Bitcoin fall through the first major support level at $6,032.33 and second major support level at $5,899.67 to a morning low and new swing lo $5,800 before a partial recovery, the morning’s $6,187.5 high at the start of the day leaving the first major resistance level untested
There was no materially negative news through the early hours to pull Bitcoin back to sub-$5,000 levels, as Friday’s regulatory news continued to pin back the chances of a recovery through to $7,000 levels to begin a bearish trend reversal.
For the day ahead, a move through $6,000 to $6,145.67 would support a run at the day’s first major resistance level at $6,278.33, though with the broad-based sell-off through the morning, $6,100 levels is some way off, with Bitcoin likely to face plenty of resistance at $6,000.
Failure to move back through to $6,000 levels and the morning’s $6,187.5 high would likely see Bitcoin take another hit later in the day to bring the third major support level at $5,653.67 into play before any recovery, the bears now eyeing sub-$5,000 levels.
Elsewhere in the cryptomarket, EOS saw the heaviest losses through the first half of the day, down $13.9%, with Bitcoin Cash and NEM’s XEM close behind with losses of 10.33% and 9.29% respectively, none of the majors able to buck the trend through as the weekend comes to an end.
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Thisarticlewas originally posted on FX Empire
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• GBP/USD Weekly Price Forecast – British pound shows resiliency during the week || Is Now the Perfect Time to Buy Amarin Corporation Stock?: Cardiovascular disease is the world's biggest killer by a wide margin. According to the World Health Organization, for instance, heart attacks and strokes contributed to over a quarter of all fatalities across the globe in 2016.
This raging epidemic also reportedly costs the U.S. healthcare system a staggering $555 billion per year at present, and this astronomical expense is forecast to double within the next 20 years. Stated simply, there is a clear need for new ways to treat cardiovascular disease that can both lower costs and mortality rates simultaneously. And that's where the Irish biopharmaAmarin Corporation(NASDAQ: AMRN)could end up making a major impact on the course of this deadly condition in the not-so-distant future.
Image source: Getty Images.
Amarin is the manufacturer of the highly refined prescription fish oil pill Vascepa. In two phase 3 studies, Vascepa significantly lowered triglyceride levels and improved other biomarkers associated with cardiovascular events like heart attack and stroke, compared to patients receiving a placebo. The drug is now set for its biggest test to date, however.
Namely, investors and patients alike are awaiting for the results of Vascepa's seven-year cardiovascular outcomes trial calledReduce-It. The point of Reduce-It is to assess Vascepa's ability to lower the rates of serious cardiovascular events in patients with persistently high triglycerides despite being on statin therapy. And with the lastpatient visitnow in the books, Amarin expects the study's top-line results to hit the wires by no later than the end of September of this year.
The big deal is that this top-line readout will undoubtedly be a major market-moving event in the company's life cycle regardless of the outcome. If positive, Amarin believes that Reduce-It should exponentially expand Vascepa's market, as well as its market share of the multi-billion dollar lipid-lowering drug arena.
After all, the drug is currently approved only for patients with severely elevated triglyceride levels. So, a positive Reduce-It outcome would open the door to a lucrative label expansion that would include about a quarter of all patients on statin therapy -- a market estimated to be as large as 9.5 million patients in the U.S. alone. That figure should translate into a multibillion-dollar commercial opportunity. Of course, the flip side is that a negative outcome may dampen Vascepa's recent commercial momentum, and perhaps keep the company from ever becoming profitable.
Wall Street has Amarin's 12-month price target pegged at $7.60, implying a 165% upside potential from current levels. And other analysts have been even more generous by doling out a noteworthy $10 price target on this stock. So this speculative biotech play definitely offers a rather healthy upside potential in the event that everything works out.
Wall Street might be a little too optimistic, though. A recent meta analysis of 10 studies covering77,917 individualsfound zero evidence that omega-3 supplementation positively impacts the fate of patients with cardiovascular disease. Worse still, a sub-group analysis also failed to find any support for using omega-3 supplements as an add-on to statin therapy.
Having said that, this comprehensive review does fly in the face of some individual studies that detected a clinically meaningful effect of omega-3 supplementation on cardiovascular outcomes, and the authors did note that they were unable to explain away this discrepancy. As another aside, this review examined patients who were generally taking far smaller doses of omega-3 supplements than those in the Reduce-It trial. So there's a chance that this elevated dosing regimen could produce a more clinically meaningful outcome, relative to the bulk of studies conducted thus far.
However, the fact remains that Vascepa is swimming against the current in many ways, and a negative outcome will probably result in a sizable drop in prescriptions from current levels. How steep of a drop is anyone's guess, but it's safe to say that Amarin's share price will suffer mightily if things don't go as planned.
Given Amarin's potential to produceenormous returns on capitalin a short period of time, this stock has likely captured the imagination of numerous investors looking for a quick profit. However, it's important to understand that the science behind omega-3 supplementation has produced highly conflicting results to date. In other words, there's simply no way to handicap Reduce-It's odds of producing a positive outcome. That's not a knock against Amarin or Vascepa -- just a statement of fact regarding how murky the clinical data have been thus far.
Summing up, Amarin is arguably worth putting on your watchlist if you're on the lookout for high-growth opportunities. But it's probably best to wait until Reduce-It is a known quantity before buying shares. If Reduce-It works out, after all, there should still be significant upside remaining in the stock after the initial surge higher and far less risk to boot.
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George Budwellhas 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. || USD/JPY Price Forecast – US dollar rallies against Japanese yen: The US dollar has rallied against the Japanese yen during early trading on Tuesday, pulling back from the highs to reach down towards the ¥111 level again, an area that was previous resistance. If that level can hold, it makes sense that we would continue to go higher as it is previous resistance acting as support. I think that the market will continue to grind higher based upon more of a “risk on” type of environment, which of course this market is sensitive to. We had recently formed a “golden cross” on the daily chart, and now it looks like the longer-term traders are starting to get their way again. I recognize that there is a significant amount of resistance above at the ¥112.50 level, and of course the proverbial “wall of worry” that markets always have to climb anyways. Short-term pullbacks should continue to offer buying opportunities, down to at least the ¥111 level, if not lower to the ¥110.50 level. I believe that fundamentals will come back into play, with the Federal Reserve and its interest rate hikes coming down the line lifting this pair of the longer-term as the Bank of Japan is nowhere near doing anything close to monetary policy tightening. That doesn’t mean that this is going to be an easy move higher, just that I think it’s what we will eventually see, so keep that in mind and keep your position size appropriate. USD/JPY Video 11.07.18 This article was originally posted on FX Empire More From FXEMPIRE: Trump Tariffs Hits Risk Appetite as Focus Shifts to the BoC and the Loonie S&P 500 Price Forecast – S&P 500 continues to build upward pressure GBP/USD Price Forecast – Dovish Macro Data and Brexit Woes Damper Sterling’s Momentum Oil Price Fundamental Daily Forecast – Weaker After US Says It Will Consider Waivers from Sanctions on Iran Natural Gas Price Forecast – natural gas markets drift lower on Tuesday Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/07/18 || Pharma's 2 Biggest Setbacks in 2018: Developing new drugs is wildly expensive. Since 2007, for instance, the average cost of bringing a novel drug to market (a new molecular entity) has hovered around a jaw-dropping $3.9 billion, according to EvaluateGroup. When all drugs are thrown into the mix, however, this figure balloons to an unreal $5.5 billion.
The point here is that it's extremely painful for big pharmas and blue-chip biotechs when their star clinical candidates flame out in late-stage testing, or suffer a serious regulatory setback. Even so, clinical and regulatory setbacks happen all the time in the pharma industry. Investors therefore need to have a solid understanding of how these setbacks impact valuations in the sector from both a short- and long-term perspective.
With this theme in mind, here is a look at howAbbVie(NYSE: ABBV)andCelgene Corporation(NASDAQ: CELG)made the two most costly mistakes halfway through 2018 and why investors in these two elite biopharmas shouldn't necessarily panic over these blunders.
Image Source: Getty Images.
In June 2016, AbbVie doled out$5.8 billionto acquire Stemcentrx for its cancer stem-cell therapy called Rova-T (rovalpituzumab tesirine) as a possible game-changing treatment for small-cell lung cancer. Immediately thereafter, analysts chimed in to name Rova-T as one of the most valuable experimental therapies in the clinic at the time. EvaluateGroup, for example, had the therapy's peak sales coming in at a staggering $8.3 billion by 2023, which would have propelled it into the top five best-selling pharma products in the world.
What a difference two years make. After postingdismal midstage trialresults for third-line small-cell lung cancer last March, AbbVie revealed at the recent American Society for Clinical Oncology meeting that Rova-T'songoing trialsare showing little sign of efficacy, and poor side-effect profiles to boot. The point being that Rova-T went from a shining star to a potential complete dud in a year's time. As a result, EvaluateGroup downgraded its outlook for the drug's peak sales to a mere $193 million by 2024. That's a stunning 98% drop from where the drug stood in terms of market value back in 2017.
How did this setback impact AbbVie's valuation? Over the course of Jan. 1, 2017, to the day before Rova-T's midstage results were released in March 2018, AbbVie's shares were up by 80%. That kind of high-flying action is certainly unusual for a large-cap biotech stock, perhaps reflecting the market's enthusiasm for this key pipeline asset. In the intervening three-plus months since Rova-T's initial data release, however, AbbVie's shares have been extremely volatile, shedding nearly 7% of their value overall. That's not the end of the world, but AbbVie's upward momentum has certainly tapered off noticeably.
Approximately three years ago, Celgene purchased Receptos for a noteworthy $7.2 billion for its experimental immunomodulatory drug ozanimod. At the time, the drug was already in human trials for both multiple sclerosis and ulcerative colitis; it had shown promise as a truly game-changing therapeutic option for these hard-to-treat conditions. Celgene thus rolled out a peak sales estimate for ozanimod of between$4 billion to $6 billionduring its initial press release announcing the acquisition.
The take-home point here is that with this pricey acquisition, the blue-chip biotech appeared to have finally found its heir apparent to the aging multiple-myeloma drug Revlimid as its next flagship product.
Then the wheels fell off. Despite strong late-stage trial data showing that ozanimod was indeed a potent new therapy for relapsing multiple sclerosis, Celgene reportedly allowed the skeleton crew remaining at the Receptos facility in California to handle the drug's regulatory application with the Food and Drug Administration (FDA). At least that's what Celgene said after the drug got nailed with a refusal-to-file letter from the FDA for missing preclinical and clinical pharmacology data last February. Now the drug isn't scheduled to reach the market until perhaps late 2019.
Why is this regulatory delay such a big deal? Analysts believe that this lengthy delay could allow the drug's competitors across its various indications to catch up from a development standpoint. If so, these same analysts think that ozanimod's commercial opportunity could be slashed by a stunning 56% from peak. That's seriously bad news, especially as the company searches for a way to keep growing beyond Revlimid's eventually date with the patent cliff.
So it's not surprising that Celgene's shares dropped by as much as 25% from their 52-week highs in the months following this self-inflicted wound.
Although investors were none too pleased with these setbacks, the good news is that both AbbVie and Celgene have vibrant pipelines capable of making up for lost ground. As proof, AbbVie and Celgene have the second and third most valuable clinical pipelines, respectively, across all of biopharma, according to EvaluateGroup.
That's not surprising given that both companies have taken an exceptionally aggressive approach to pipeline development through external licensing deals, as well as mergers and acquisitions over the past few years.
The net result is that the shares of both AbbVie and Celgene are arguably a great bargain here. AbbVie's top line is still forecast to rise at a healthy 4% compound annual growth rate (CAGR) over the next five years, despite losing exclusivity for its top-selling anti-inflammatory drug Humira and Rova-T's implosion. And Celgene is expected to perform even better over this same period with a stately 9% CAGR. Of course, these growth forecasts would have been richer if Rova-T and ozanimod didn't get derailed, but that doesn't mean the sky is falling, either.
The bottom line is that AbbVie and Celgene prepared for the possibility of a serious setback by building out extremely robust pipelines capable of smoothing out the rough spots over the long term.
Interesting enough, though, several other large biopharmas such asGlaxoSmithKlineandSanofihave failed to follow this same prudent course of action during the height of the patent cliff by relying way too heavily on a small set of experimental product candidates to deliver long-term growth. As such, their shares have drastically underperformed the broad biopharma space over the last decade.
AbbVie and Celgene, on the other hand, apparently learned from the follies of their peers by building pipelines with multiple shots on goal, so to speak. And that's the kind of deep value that savvy investors should appreciate.
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George Budwellhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Celgene and GlaxoSmithKline. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
@ranaarslan217 @numan @eth @bitcoin @Traders @Min https://twitter.com/Ether2Gen/status/1003308302321647616 … || Loading up on high volume shit coins before market cap pumps following a btc runup!
$EVR $UNIT $EVR $XBY HODL hard. || #cashtails How do you make money with bitcoin? http://bit.ly/2DBYqNw pic.twitter.com/hLUFGSdrbG || Top 5
$NTO $BTC on @hitbtc +50%
$TEL $ETH on @hitbtc +35%
$SBD $BTC on @hitbtc +28%
$XBT $7D on @BitMEXdotcom +25%
$ETH $GET on @quoine_SG +20% || Aktueller #Bitcoin-Preis: 5712.80 EUR / 6588.00 CHF || BTC on #Coinbase is now 6307.87 #eur
(was 6245.11 eur 6h ago / 1.00%)
#cryptocurrency #ticker #BTC || BTC $7363.56 Down -$8.00 -0.11% in the last hour #bitcoin #bitsmart || Looking for honest and profitable trading calls, recommendations and advice, join:
http://t.me/CryptoHeatsignals …
$BTC $ETH $ETC $BCH $LTC $XRP $DASH $XLM $XMR $ZEC $ADA $SYS $NEO $LUX $OMG $POWR $VTC $XEM $LSK $DGB $DOGE $XVG $VEN $ICX $ZCL $DRGN $WTC $IC $TRX $QTUM $LSK $ZRX 71134 || 06-22 10:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000148
HitBTC :0.00000156
LiveCoin:0.00000149
$SPD (JPY)
Yobit :1.05
HitBTC :1.10
LiveCoin:1.05 || #LIZA #LAMBO price
06-10 04:00(GMT)
$LIZA
BTC :0.13110
ETH :1.65000
USD :972.0
RUR :58717.2
JPY(btc) :105341.1
JPY(eth) :103933.5
$LAMBO
BTC :3.810
ETH :49.000
USD :20300.0
RUR :1501000.0
JPY(btc) :3061449.3
JPY(eth) :3086510.0
|
Trend: up || Prices: 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-06-09]
BTC Price: 574.63, BTC RSI: 76.69
Gold Price: 1270.20, Gold RSI: 60.80
Oil Price: 50.56, Oil RSI: 67.58
[Random Sample of News (last 60 days)]
Blockchain won’t kill banks: Bitcoin pioneer: Blockchain – the technology that underpins the cryptocurrency bitcoin – is unlikely to kill banks despite warnings from top industry executives, the chair of a bitcoin non-profit organization told CNBC on Monday.
Last week, Andrey Sharov, a vice president at Russia's Sberbank, said banks would disappear by 2026 due to the rising use of blockchain technology.
"In 10 years, there will be no banks, I'm afraid," according to a translation of Sharov's comments by the Coinfox bitcoin news website.
But Brock Pierce, the chairman of the Bitcoin Foundation, said that while the adoption of blockchain will hit parts of a bank, it will ultimately create opportunity.
"There are certain aspects of their business that are going to be negatively impacted, but there are also going to be other business units that are going to be positively impacted and new business units that get created that might not even exist today," Pierce told CNBC in an interview on Monday.
"And the parts of the industry that are being most negatively impacted are the ones where the bank is not providing much in the way of value, where they are being a toll taker but not really a value creator."
Blockchain is the technology that underlies the cryptocurrency bitcoin. It works like a huge, decentralized ledger for bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with.Banks feel blockchain technologycan be utilized in areas from remittances to securities exchanges to bring about efficiency.
The Bitcoin Foundation positions itself as an organization that is helping to advance the use of the cryptocurrency "through advocacy, education and support of adoption and core development", according to its website. While there is no centralized authority for bitcoin, the organization is trying to create common standards for its use.
Pierce has a varied history. He was a child film star who appeared in Disney's "The Mighty Ducks" film in the early 1990s. He has previously run internet companies and is a partner in Blockchain Capital, a venture capital firm that invests in companies in the space.
A number of major financial institutions have been speaking publically about blockchain and touting its potential. A firm called R3 has brought together a group of the world's biggest banks including JPMorgan and Citigroup and is dedicated to researching and delivering new financial technology. Another company called Digital Asset Holdings, founded by an ex-top JPMorgan executive, partnered with JPMorgan earlier this year to explore blockchain technology.
Speaking at the Money 2020 conference in Copenhagen last week, Digital Asset Holdings chief executive Blythe Masters, said blockchain technology will be "deployed in a commercial setting in less than a couple of years," butwidespread adoption would take longer, a point Pierce echoed.
"I think banks are going to take a while to integrate this … it's going to take them years of testing before they start to commercialize aspects of the technology … it's more likely to have an impact in other industries in the short term which are less-regulated and where the stakes are lower," Pierce told CNBC.
Pierce also explained that there would be "dozens of different versions of blockchains" deployed for different use cases.
The Bitcoin Foundation has had a checkered history. In December, Pierce declared in meeting minutes that the organization was "close to running out of money."
And bitcoin itself has had a bad reputation. The cryptocurrency is often linked to allowing people to purchase illegal items anonymously, while one of the world's largest bitcoin exchanges,Mt. Gox, collapsed in 2014.
While not referring to these specific incidents, Pierce did admit that bitcoin's reputation has suffered some bad publicity, and why the banks are focusing on the underlying technology of blockchain.
"Bitcoin's got a major PR (public relations) problem and that's why you hear major banks saying bitcoin bad, blockchain good," Pierce said.
"Emerging technologies and the earliest adopters often produce these types of messages. And bitcoin as the pioneer takes the arrows in the back…which is probably not warranted."
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Murray Stahl Talks Investments Made Through FRMO: - By Bram de Haas Guru Murray Stahl ( Trades , Portfolio ) is the CEO and chairman of FRMO Corp. (FRMO). Together with CFO Steven Bregman, they report on the investments made through FRMO on a quarterly basis. There is no transcript available yet for the most recent call, but you can listen to the archived call. Warning! GuruFocus has detected — Warning Sign with WMT. Click here to check it out. FRMO –5-Year Financial Data The intrinsic value of FRMO Peter Lynch Chart of FRMO The call can be a little bit chaotic if you are a new shareholder, but they are absolutely worth listening too. Stahl and Bregman are full of valuable insights into the markets and readily share wisdom related to their unconventional approach to value investing. Balance sheet The call starts out with them commenting on the balance sheet. Equity went down by a meaningful amount and the duo got several questions from shareholders about why it went down and whether the decline would be permanent. A meaningful part of the reduction in book value is due to current assets decreasing by $–– million. A deferred tax liability was decreased and the securities sold, not yet purchased program was expanded a little bit. This is a post where they account for short positions in path dependent ETFs. The way I understand it, they had to take their gains in these positions, which triggered a tax. Afterward they initiated the positions again with a new cost basis. The HK multistrategy fund declined in value. Over the calendar year, the fund didn’t do so bad (-–—%), but throughout the reporting period the fund went down by —5%. There were also some redemptions, although they were quick to point out March had been a very good month. Digital Currency Group Stahl talked a little bit about a new investment in the Digital Currency Group. DCG is a corporation devoted to crypto currencies. Stahl expects cryptocurrencies will become a legitimate asset class. DCG owns various venture investments in technologies involved with digital currencies. They own equity in Coinbase (an exchange), Ripple (utilizes blockchain for cross-border transactions) and Grayscale (a money manager of crypto currencies). Governments around the world historically had the tendency to inflate asset prices or currency. Little by little you are purchasing power, a constant threat in history. Being on a metallic standard has historically also caused inflation.� Story continues The blockchain is a ledger and the coins can’t be counterfeited. If more transactions are done in a currency it raises its value. If Bitcoin were to become the new gold (Stahl doesn’t necessarily agree, but raises it as a possibility suggested by others), Bitcoin would appreciate by –………x in value. If it were to become currency for the world, you would make —…………x your money. Even though it is a very small investment, Stahl views it as a really important strategic investment. It's possible the stake would be expanded. Market outlook If oil went to $45 by end of the year, CPI would go to —.‘% and the Fed would have its hand forced and would need to raise rates. This would cause problems in the market. You have to diversify away from stocks. Over the last ‘5 years, interest rates came down and stocks were successful. FRMO is now operating on the premise that two guys picking stocks isn’t going to cut it going forward. The firm keeps a lot of cash on the balance sheet and views it as optionality. When the next crash (Stahl doesn’t actually use the word crash) comes, the firm will profit by having lots of liquidity. One of the reasons they like small exchanges so much is that the optionality embedded in them is huge. If big mergers go through like the one between the London Stock Exchange and Deutsche Borsche, these players raise prices and clients are angry and want to move business. Meanwhile there are few licensed exchanges and the small ones are suddenly very well positioned. ETFs Stahl views it as very dangerous to be invested in big dominating companies. Big liquid companies pay out a little bit of dividend and throw the rest at buybacks. These companies have defined benefit pension plans, but the stock has to rise or the company has to put extra money into these plans. This means that when the flows into large cap liquid companies is starting to slow, the effect can be dramatic. Big liquid stocks make up huge allocations in focused ETFs. What’s wrong with that? You take a lot of individual security risk by buying this ETF. At some point an event will make that apparent to lots of people invested in these type of securities. Something else he doesn’t like is the typical dividend ETF. Earnings of the constituents of these products are ever so slightly declining. They have record margins right now, and can’t go up or down by much. These companies are currently saving a lot on the commodity side and not passing this on to the consumer. The risks in ETF land are exacerbated because ETF providers aren’t making money and can’t make a lot of money on these products because the fees are too low. This structure of the industry leads to only a few companies being a major part of all ETFs. An index was supposed to take out risk, and now you are taking on risk by buying into them. Everyone owns the same companies.� Indexation is not in the early innings, it’s in the late innings. It will possibly go into extra innings. This article first appeared on GuruFocus . Warning! GuruFocus has detected 2 Warning Sign with WMT. Click here to check it out. FRMO 15-Year Financial Data The intrinsic value of FRMO Peter Lynch Chart of FRMO || A Q&A With The New CIO Of OptionsHouse: The 2016 Benzinga Fintech Awards is the only event in fintech dedicated to recognizing innovation in financial services and capital markets. Ahead of the May 24th awards show and gala, meet the industry leaders who will be in attendance. Who he is: Lance Braunstein, recently named CIO of Aperture Group, owner of OptionsHouse . What attracted you to OptionsHouse? Braunstein: The combination of a great investor, General Atlantic, a world-class management team, and the opportunity to innovate solutions on the base of a leading platform. What ideas can you offer for how you'll shape OptionsHouse’s technology strategy going forward? Braunstein: Our technology strategy will unfold in a number of phases. First, we will continue to evolve our core execution platform to be best-in-class. This will include a new mobile app for iOS and Android as well as a new responsive website by the end of the year. We are also developing a rich services framework for more nimble software development and to allow our clients to interface with us programmatically. The second phase of our strategy involves the evolving needs of the active trader. We are exploring a number of new products and services to ensure we can deliver the most timely data in the best channel to meet our client's needs. Braunstein : I continue to see data management, analytics and visualization as a key driver for our markets. Being able to consume and make sense of the massive amounts of data and derive a signal from the noise is more pressing than ever. I also think that startups and established firms alike are starting to take up the idea of blockchain, with an understanding of its differences from Bitcoin, and leveraging it in a number of new and creative ways. I'm excited about automated advisory services. There's still a long way to go in developing intelligence in this space and I suspect we'll see continued innovation here. One trend that I suspect will fade is the idea that fintech firms can fly under the regulatory radar--this just seems short-sighted. Tackling regulatory requirements like retention, supervision and information barriers is key when providing solutions in regulated industries. One piece of advice he’d offer to people trying to break into fintech: Braunstein : A VC friend of mine once said ‘You should always be able to articulate your value proposition on the back of a business card.’ My piece of advice is make sure that your messaging is crisp so if you find yourself on an elevator and you have 30 seconds, you’re able to very succinctly articulate the space, problem, and commercial value. That’s something typically an engineering minded person might overlook. If you want to meet Lance, get a ticket to the Benzinga Fintech Awards next Tuesday, so get your tickets now! See more from Benzinga Russell Simmons' Prepaid Debit Card Just Cost Him Million Who's The Most Outstanding Military Veteran In Fintech? Angel Investing Is Now Available To Pretty Much Everyone. Yes, Even You. © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Murray Stahl Talks Investments Made Through FRMO: - By Bram de Haas
GuruMurray Stahl(Trades,Portfolio) is the CEO and chairman of FRMO Corp. (FRMO). Together with CFO Steven Bregman, they report on the investments made through FRMO on a quarterly basis. There is no transcript available yet for the most recent call, but you can listen to the archived call.
• Warning! GuruFocus has detected — Warning Sign with WMT. Click here to check it out.
• FRMO –5-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO
The call can be a little bit chaotic if you are a new shareholder, but they are absolutely worth listening too. Stahl and Bregman are full of valuable insights into the markets and readily share wisdom related to their unconventional approach to value investing.
Balance sheet
The call starts out with them commenting on the balance sheet. Equity went down by a meaningful amount and the duo got several questions from shareholders about why it went down and whether the decline would be permanent. A meaningful part of the reduction in book value is due to current assets decreasing by $–– million. A deferred tax liability was decreased and the securities sold, not yet purchased program was expanded a little bit. This is a post where they account for short positions in path dependent ETFs. The way I understand it, they had to take their gains in these positions, which triggered a tax. Afterward they initiated the positions again with a new cost basis.
The HK multistrategy fund declined in value. Over the calendar year, the fund didn’t do so bad (-–—%), but throughout the reporting period the fund went down by —5%. There were also some redemptions, although they were quick to point out March had been a very good month.
Digital Currency Group
Stahl talked a little bit about a new investment in the Digital Currency Group. DCG is a corporation devoted to crypto currencies. Stahl expects cryptocurrencies will become a legitimate asset class. DCG owns various venture investments in technologies involved with digital currencies. They own equity in Coinbase (an exchange), Ripple (utilizes blockchain for cross-border transactions) and Grayscale (a money manager of crypto currencies). Governments around the world historically had the tendency to inflate asset prices or currency. Little by little you are purchasing power, a constant threat in history. Being on a metallic standard has historically also caused inflation.�
The blockchain is a ledger and the coins can’t be counterfeited. If more transactions are done in a currency it raises its value.
If Bitcoin were to become the new gold (Stahl doesn’t necessarily agree, but raises it as a possibility suggested by others), Bitcoin would appreciate by –………x in value.
If it were to become currency for the world, you would make —…………x your money.
Even though it is a very small investment, Stahl views it as a really important strategic investment. It's possible the stake would be expanded.
Market outlook
If oil went to $45 by end of the year, CPI would go to —.‘% and the Fed would have its hand forced and would need to raise rates. This would cause problems in the market.
You have to diversify away from stocks. Over the last ‘5 years, interest rates came down and stocks were successful. FRMO is now operating on the premise that two guys picking stocks isn’t going to cut it going forward.
The firm keeps a lot of cash on the balance sheet and views it as optionality. When the next crash (Stahl doesn’t actually use the word crash) comes, the firm will profit by having lots of liquidity.
One of the reasons they like small exchanges so much is that the optionality embedded in them is huge. If big mergers go through like the one between the London Stock Exchange and Deutsche Borsche, these players raise prices and clients are angry and want to move business. Meanwhile there are few licensed exchanges and the small ones are suddenly very well positioned.
ETFs
Stahl views it as very dangerous to be invested in big dominating companies. Big liquid companies pay out a little bit of dividend and throw the rest at buybacks. These companies have defined benefit pension plans, but the stock has to rise or the company has to put extra money into these plans. This means that when the flows into large cap liquid companies is starting to slow, the effect can be dramatic. Big liquid stocks make up huge allocations in focused ETFs. What’s wrong with that? You take a lot of individual security risk by buying this ETF. At some point an event will make that apparent to lots of people invested in these type of securities.
Something else he doesn’t like is the typical dividend ETF. Earnings of the constituents of these products are ever so slightly declining. They have record margins right now, and can’t go up or down by much. These companies are currently saving a lot on the commodity side and not passing this on to the consumer.
The risks in ETF land are exacerbated because ETF providers aren’t making money and can’t make a lot of money on these products because the fees are too low. This structure of the industry leads to only a few companies being a major part of all ETFs.
An index was supposed to take out risk, and now you are taking on risk by buying into them. Everyone owns the same companies.�
Indexation is not in the early innings, it’s in the late innings. It will possibly go into extra innings.
This article first appeared onGuruFocus.
• Warning! GuruFocus has detected 2 Warning Sign with WMT. Click here to check it out.
• FRMO 15-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO || 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. 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) || The 5 biggest bitcoin and blockchain announcements at Consensus: The big bitcoin conference Consensus descended on Manhattan this week, and a number of significant companies chose it as a venue to announce news. (The ability to own and oversee Consensus was one of the driving factors in theDigital Currency Group's acquisition this year of bitcoin news site CoinDesk, which created the conference.)
Most of the excitement about this industry at the moment, from the financial world, is around the use ofblockchain, the decentralized ledger technology that underlies the digital currency bitcoin, and less so on the currency itself. Banks and other payment giants are eager to explore how blockchain—but a closed, permissioned form without bitcoin, as opposed to the open, permissionless bitcoin blockchain—could speed up their transaction settlement processes. Much of the buzz and commentary at the conference matched this. But not all people in the industry are so eager to abandon bitcoin. Among lots of interesting news, here are 5 of the biggest stories to come out of the Consensus conference this week.
It wasn’t an announcement made at the conference, but news that broke on the first morning, and it cast a shadow over the entire event.Dr. Craig Wright, an Australian security expert, publicly outed himself as Satoshi Nakamoto, the mysterious creator of bitcoin, in a blog post and in statements to a few select news outlets. The mainstream media grabbed the story and ran with it, but among the crowds at Consensus, people doubted the claim. It only took a few hours for some experts to poke holes in the way that Wright supposedly proved he is Satoshi (he presented evidence that he owns the same private keys used by Satoshi for the first ever transaction), and now the story is looking like yet another entry on the long list of false positives. Don’t expect the media to lose interest in identifying Satoshi any time soon, even thoughit really doesn’t matter to the bitcoin technology anymore who created it, because it is open-source and has changed significantly since its inception. (There is one reason people in bitcoin want to know: Satoshi is believed to still hold nearly 1 million bitcoin, or about $450 million at the current price, which means he or she would have the power to crash the market by way of a selloff.)
The state of Delaware announced it wants to use blockchain technology to speed the process of registering new businesses in the state. It’s significant not only because government support of this space is so rare, but because Delaware incorporates more public companies than any other state. Bitcoin believers, of course, may scoff at this as another example of blockchain being used for something rather unexciting: improving an old institution’s dated IT processes. But Delaware going digital has major implications, since other states could follow. Delaware Gov. Jack Markell even said at Consensus that the state would consider creating a new form of “distributed ledger” shares in companies registered via blockchain.
Chain, an enterprise blockchain startup, announced Open Standard 1, a form of blockchain it has built specifically for financial institutions, and a murderer’s row of launch clients along with it, including Capital One, Citi, Fidelity, Nasdaq, and Visa. To be sure, Chain is one of many competitors vying to build a blockchain for banks and other enterprise clients. The buzziest, in the mainstream business press, has beenR3, a blockchain coalition of more than 45 banks, but this week Amazon Web Services (AMZN) also announced it would partner with the Digital Currency Group to offer a form of blockchain tech to enterprise clients. Still, with a completed product and big-name backers, Chain could come out to an early lead in this race.
21 Inc, which only one year ago was still a mysterious bitcoin startup thathad raised more money than any other bitcoin startup($121 million, fittingly) without revealing what it would even do, came out swinging with the announcement of its next step. In February, 21 began shipping its first product, a small, sleek, personal bitcoin computer for mining bitcoin and building applications to accept bitcoin payments. This week, at Consensus, 21 CEO Balaji Srinavasan said the company’s next move is to “make every computer a bitcoin computer” by making its software compatible with any connected device. That means regular laptops and, eventually, mobile phones. This is a bitcoin innovation that should excite more than just bitcoin developers. “Every time you click a link,” Srinavasan told Yahoo Finance, “you could be earning money.” And you could do it without having to know how to mine bitcoin. It could lead to crucial solutions in an area like, say, news website paywalls.
This one’s a double: Two big names in the finance world came out in a surprising show of support for the blockchain industry.
Larry Summers, who last week joined the Digital Currency Group as a senior advisor, gave an interview at Consensus in which he went all in on the potential of blockchain technology for Wall Street solutions. “Is the blockchain technology going to be fundamental? I think the answer is overwhelmingly likely to be yes,” he said. As for bitcoin? Unsurprisingly, he's not as bullish. However, he acknowledged that there are many who believe blockchain without bitcoin defeats the whole purpose, and lacks the excitement, of bitcoin, which is open and decentralized. “While there are arguments you can’t get all the benefits without bitcoin, my suspicion is that ways will be found to get those benefits without the uncertainty in the value of bitcoin,” he said.
Glenn Hutchins, meanwhile, the founder of influential venture capital firm Silver Lake and a boardmember at AT&T, Nasdaq, and the Federal Reserve Bank of New York, appeared to do a 180 on bitcoin. Hutchins, in the past, had been dismissive of the cryptocurrency. But at Consensus, he delivered a speech on why bitcoin matters, even when the concept of bank blockchains is in vogue. He made the same comparison that has become so popular among bitcoin folks, likening private, closed blockchains to corporate Intranets, a concept that was once more widespread and is now less common and less useful to most companies. Hutchins said he now has plans to invest in bitcoin startups.
Hutchins also joined the board of Digital Currency Group, so if you’re keeping count, it’s really DCG—which owns the conference, added big players to its team, and scored a new funding round this month—that came out the real winner of Consensus.
--
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 || The Market In 5 Minutes: May, She Will Stay: Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or email [email protected]. Macro Focus Asian stocks were mostly lower , led by another selloff in Japanese equities. Japan's Nikkei index tumbled 3.11 percent, adding to Thursday's 3.61 percent loss (Japanese markets were closed on Friday for a national holiday), after the country's currency realized its largest two-day gain against the U.S. dollar since 2008. Oil prices were trading lower Monday morning. As a reminder, OPEC said on Friday its April export activity rose to 32.64 million barrels per day (from 32.47 million in March) - close to the highest level in recent history. Crude futures for June delivery were lower by 0.7 percent at $45.60 a barrel, while Brent crude for June delivery was lower by 1.1 percent at $46.84 a barrel. Gov. Alejandro Garcia Padilla announced Puerto Rico's government won't make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the U.S. territory's spiraling public debt crisis. Nearly all the bonds are held by a variety of U.S. hedge funds and mutual funds. BZ News Desk Focus Upcoming earnings highlights include reports from two leading specialty retailers -- CVS Health (NYSE: CVS ) and Whole Foods (NASDAQ: WFM ) -- as well as two major pharmaceutical companies -- Merck (NYSE: MRK ) and Pfizer (NYSE: PFE ). Ford Motor (NYSE: F ) CFO Bob Shanks joined the PreMarket Prep broadcast this morning. Check back soon for updates from the call, such as Ford having the largest fleet of autonomous vehicles in the world. Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep . Sell-Side Themes A handful of analysts weighed in on Seagate (NASDAQ: STX ) following its earnings miss and subsequent stock fall late last week. Brean even admitted it was wrong on the stock. Sell-Side's Most Noteworthy Calls Colgate-Palmolive (NYSE: CL ) raised to Neutral at Goldman. Starz (NASDAQ: STRZA ) upgraded to Outperform from Underperform at CLSA. L-3 Communications (NYSE: LLL ) raised to Buy at Goldman. Vale (NYSE: VALE ) upgrade from Hold to Buy at BB&T. Seagate (NASDAQ: STX ) cut to Sector Perform at RBC Capital. Groupon (NASDAQ: GRPN ) downgraded to Underperform at RBC Capital Markets. Time Warner (NYSE: TWX ) cut to Sector Weight at Pacific Crest. TiVo (NASDAQ: TIVO ) downgraded to Hold at Topeka Capital. United Technologies (NYSE: UTX ) cut to Neutral at Goldman. Story continues Buy-Side Pernix Therapeutics (NASDAQ: PTX ) shares rose 69.31 percent to $1.270 in pre-market trading following Friday's report of a 5.8 percent Stake by Point 72. Deal Talk Halliburton (NYSE: HAL ) and Baker Hughes (NYSE: BHI ) announced over the weekend that the companies have terminated their proposed merger agreement, which was proposed back in November 2014. Halliburton proposed to acquire Baker Hughes in a transaction valued at $28 billion. However, regulatory and competitive concerns prompted antitrust officials to heavily scrutinize the deal. Apollo Education (NASDAQ: APOL ) says it's received a revised buyout offer of $10 per share from a consortium led by Apollo Global Management (NYSE: APO ), notes it represents "an excellent outcome for shareholders." In The News Warren Buffett has some sage advice for youngsters who one day may invest in the stock market: "A lot of problems are caused by envy. You don't want to get envious. Follow your own course." Attention Twitter (NYSE: TWTR ) and it shareholders: Digital-video ad spending in the US is expected to grow 28.5 percent this year to $9.84 billion, according to eMarketer. "Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto. His admission ends years of speculation about who came up with the original ideas underlying the digital cash system," BBC reports. "Mr. Wright has provided technical proof to back up his claim using coins known to be owned by Bitcoin's creator. Prominent members of the Bitcoin community and its core development team have also confirmed Mr Wright's claim." Is another tech bubble bursting? Despite record amount of money flowing into venture capital, funding for startups is drying up. Blogosphere After a scary start to the year, bond investors holding the riskiest debt will have been relieved to have ended April 5.3 percent ahead. If history is any guide, returns were to be expected. Whether May will bring a similar result is a coin-toss, and Gadfly's Christopher Langner says there's one certainty: more volatility. Philosophical Economics: Does index investing make markets and economies more efficient? Trending NUGT ACAD PTX DUST GLD GDX APOL BHI BIDU VALE GOLD HAL JNUG OPWR JCP [StockTwits] In his final run as comedian-in-chief at the White House Correspondents' Dinner on Saturday, President Barack Obama closed his speech with "Obama out," and a mic drop before receiving a standing ovation from Washington's bigwigs and Hollywood. Meanwhile, featured comedian Larry Wilmore has received some mixed reactions for his part. See more from Benzinga The Market In 5 Minutes: You're Not Your Job The Market In 5 Minutes: Thumbs Up The Market In 5 Minutes: Sour Apples And Greek Goddesses © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || What to do if hackers hold your computer hostage and demand cash: You’re sitting at your computer when you get an email from your local bank saying you were just hit with a charge for a new $1,200 MacBook that you never bought. You click the email and follow the embedded link or download the included receipt to find out what’s up.
Just like that, your computer has been infected with ransomware. You can’t access your files, and all you can see is a timer counting down the time until hackers delete your computer’s drive unless you pay them a fee in iTunes gift cards.
All you can do is scratch your head and wonder what the hell just happened. Well, I’m here to explain that to you — and to help you fight back against ransomware criminals.
The most important thing to remember is this: Never, ever pay the ransom.
Let’s start with the basics. A particularly nefarious form of malware, ransomware is a piece of software criminals use to lock you out of your computer by encrypting its files and holding them for ransom for a specific dollar amount.
If you don’t pay up, you can potentially say goodbye to your photos, tax documents, pay stubs, and any other documents you’ve saved throughout the years.
This isn’t some idle threat, either. If you don’t pay, your documents will disappear or simply stay locked up until you completely reformat your system.
Ransomware programs sometimes require you to pay in Bitcoin, an anonymous currency that can’t be tracked.
However, criminals have increasingly begun demanding payment in the form of iTunes or Amazon gift cards, since the average person doesn’t know how to use Bitcoin, according to Gary Davis, chief consumer security evangelist at Intel Security.
The amount you have to pay to unlock your computer can vary, with some experts saying criminals will ask for up to $500.
To be clear, ransomware doesn’t just target Windows PCs. The malware has been known to impact systems ranging from Android phones and tablets to Linux-based computers and Macs.
According to Davis, ransomware was actually popular among cybercriminals over a decade ago. But it was far easier to catch the perpetrators back then since anonymous currency like Bitcoin didn’t exist yet. Bitcoin helped changed all that by making it nearly impossible to track criminals based on how victims pay them.
There are multiple types of ransomware out there, according to Chester Wisniewski, a senior security advisor with the computer security company Sophos. Each variation is tied to seven or eight criminal organizations.
Those groups build the software and then sell it on the black market, where other criminals purchase it and then begin using it for their own gains.
Ransomware doesn’t just pop up on your computer by magic. You actually have to download it. And while you could swear up and down that you’d never be tricked into downloading malware, cybercriminals get plenty of people to do just that.
Here’s the thing: That email you opened to get ransomware on your computer in the first place was specifically written to get you to believe it was real. That’s because criminals use social engineering to craft their messages.
For example, hackers can determine your location and send emails that look like they’re from companies based in your country.
“Criminals are looking are looking up information about where you live, so you’ll click (emails),” Wisniewski explained to Yahoo Finance. “So if you’re in America, you’ll see something from Citi Bank, rather than Deutsche Bank, which is in Germany.”
Cybercriminals can also target ransomware messages to the time of year. So if it’s the holiday shopping season, criminals might send out messages supposedly from companies like the US Postal Service, FedEx or DHL. If it’s tax time, you could receive a message that says it’s from the IRS.
Other ransomware messages might claim the FBI has targeted you for using illegal software or viewing child pornography on your computer. Then, the message will tell you to click a link to a site to pay a fine — only to lock up your computer after you click.
It’s not just email, though. An attack known as a drive-by can get you if you simply visit certain websites. That’s because criminals have the ability to inject their malware into ads or links on poorly secured sites. When you go to such a site, you’ll download the ransomware. Just like that, you’re locked out of your computer.
Ransomware attacks vulnerabilities in outdated versions of software. So, believe it or not, the best way to protect yourself is to constantly update your operating system’s software and apps like Adobe Reader. That means you should always click that little “update” notification on your desktop, phone, or tablet. Don’t put it off.
Beyond that, you should always remember to back up your files. You can either do that by backing them up to a cloud service like Amazon Cloud, Google Drive or iCloud, or by backing up to an external drive.
That said, you’ll want to be careful with how you back up your content. That’s because, according to Kaspersky Lab’s Ryan Naraine, some ransomware can infect your backups.
Naraine warns against staying logged into your cloud service all the time, as some forms of malware can lock you out of even them. What’s more, if you’re backing up to an external hard drive, you’ll want to disconnect it from your PC when you’re finished, or the ransomware could lock that, as well.
Naraine also says you should disconnect your computer from the internet if you see your system being actively encrypted. Doing so, he explains, could prevent all of your files that have yet to be encrypted from being locked.
Above all, every expert I spoke with recommended installing some form of anti-virus software and some kind of web browser filtering. With both types of software installed, your system up to date, and a backup available, you should be well-protected.
Oh, and for the love of god, avoid downloading any suspicious files or visiting sketchy websites.
Even if you follow all of the above steps, ransomware could still infect your computer or mobile device. If that’s the case, you have only a few options.
The first and easiest choice is to delete your computer or mobile device and reinstall your operating system. You’ll lose everything, but you won’t have to pay some criminal who’s holding your files hostage.
Some security software makers also sell programs that can decrypt your files. That said, by purchasing one, you’re betting that it will work on the ransomware on your computer, which isn’t always the case. On top of that, ransomware makers can update their malware to beat security software makers’ offerings.
All of the experts agree that the average person should never pay the ransom — even if it means losing their files. Doing so, they say, helps perpetuate a criminal act and emboldens ransomware makers.
Even if you do pay up, the ransomware could have left some other form of malware on your computer that you might not see.
In other words: Tell the criminals to take a hike.
Email Daniel [email protected]; follow him on Twitter at@DanielHowley. || Traders: How to play stumbles by Apple, Twitter: Two big-name technology stocks have stumbled recently, and "Fast Money" traders on Tuesday debated whether they could recover.
Apple(NASDAQ: AAPL)shares climbed Tuesday, breaking an eight-day slide driven bydisappointing quarterly earnings, iPhone sales and guidance. Twitter(NYSE: TWTR)'s stock, meanwhile, fell 2.7 percent on the day, touching an all-time low during the session. The social media company alsogave a weak outlookwhen it posted quarterly results.
Apple shareholder Pete Najarian said he bought more of the stock last week despite the company's struggles.
"I believe in the company, I believe in where the direction is," he said, adding that long-term investors may benefit from eventual expansion in places like India.
While he noted that India offers "an amazing long-term growth opportunity," trader Dan Nathan believes Apple has more pain ahead. He contended it could slide even more from its current levels.
Turning to Twitter, Nathan said he has been long and "wrong" in the stock. He said the company has had trouble growing its audience but added it could still be a takeover target.
Najarian argued he would stay away from the stock altogether.
"It just is not showing us any life at all," he said.
Trader Brian Kelly acknowledged that Twitter has unique value. He said the company should focus on engaging with the users it has now rather than adding new users.
Disclosures:
Karen Finerman
Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GLD, SLV, US Dollar; he is short Australian Dollar, BLK, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, Yuan, 5-Year Note Futures
Pete Najarian
Long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, AGN, AKS, AMJ, COP, EGO, EWZ, HAIN, HBAN, KATE, KBH, KMI, LLY, MSFT, MT, NLNK, SBUX, SLV, SPG, TCK, UAL, YHOO Long Puts: FCX, NOV, PBR, VLO
Dan Nathan
Long PFE Long TWTR, sept risk reversal WMT long May 65 puts GE long May 28 puts XHB long June put spread IWM long Sept 100 put XLB long June put spread XRT long June 45/38 put spread XLF long May/ Sept Put spread HYG long June put spread XLK long Sept Put spread
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• Personal Finance || After hospital ransomware attack, time for some blunt talk about cybersecurity: Your standard medical drama is supposed to end with a “how it happened” scene, in which doctors explain what really went wrong with the patient and how they solved it. But it doesn’t look like the recent ransomware episode at MedStar Health will get that traditional resolution. We know from well-sourced reports that the mid-Atlantic hospital chain got hit with a strain of ransomware that locked up some of its files. (In such attacks, miscreants encrypt a victim’s files and demand payment — often in the form of Bitcoin — for the decryption key.) We know that containing the problem knocked many of the hospital’s computer systems offline and forced doctors and nurses to communicate via paper and fax . But we don’t know how the attack happened or what MedStar did to fix it. And the Columbia, Md., company doesn’t plan to tell us. “Based on the advice of IT, cybersecurity and law enforcement experts, MedStar will not be elaborating further on additional aspects of this malware event,” reads a statement posted on its site last week. “This is not only for the protection and security of MedStar Health, its patients and associates, but is also for the benefit of other healthcare organizations and companies.” The sound of cybersecurity silence MedStar’s case is not unique, and neither is its subsequent silence. In February, Hollywood Presbyterian Medical Center in Los Angeles suffered its own ransomware attack . The hospital acknowledged that it was ransomware and even specified the sum demanded (40 bitcoin, or about $17,000). But it provided no hint as to how it got hacked or what it has done to thwart future attacks. Cybersecurity experts know this secure-it-and-shut-up routine well. “The industry status quo is not to reveal the cause of breaches,” emailed Katie Moussouris , a Washington-based security consultant. “Disclosure often only happens when action must be taken externally to apply the defense” — that is, somebody outside the organization has to change a password, patch a server, or take a system offline. Story continues “I can’t think of any company that’s been transparent about it,” said Ars Technica’s veteran security reporter Sean Gallagher in a Twitter direct message. It’s not that corporate leaders don’t realize the importance of working with their peers: They do, but still would rather not reveal the ugly details of attacks. A recent survey of 700-plus C-suite executives by IBM Security found that while 55 percent favored more industry collaboration, 68 percent were reluctant to share incident information outside their own firms. Meanwhile, attackers have fewer hang-ups about talking about their tactics. “The bad guys are always better at sharing than the good guys,” emailed Jeremy Epstein , a security scientist with SRI International. Different ways to disclose Other industries aren’t as opaque in documenting their mishaps. For a particularly dramatic contrast, you could look to commercial aviation. Any serious accident spurs an investigation by the National Transportation Safety Board, and even something as relatively minor as a flight attendant breaking a passenger’s foot with a beverage cart warrants an NTSB writeup. The idea is to publicly identify what went wrong so nobody ever does it again — and it’s made flying an incredibly safe way to travel. Epstein noted that this culture of safety owes something to government influence: “Airlines have more regulatory requirements to disclose.” In other business sectors, that influence is less pronounced. But, he added, airlines themselves can still clam up about cybersecurity issues that don’t directly affect flight safety. He cited a run of flight cancellations last year that were apparently the result of fake flight plans that pilots immediately flagged , but which airlines later vaguely labeled as “unanticipated technical problems.” Companies and organizations are supposed to be able to share confidential information, including details of unpatched vulnerabilities, in private forums such as industry-specific Information Sharing and Analysis Centers . For instance, airlines can team up at the Aviation ISAC , while medical facilities can collaborate privately at Healthcare Ready . So is MedStar at least documenting what went wrong in that health care forum? The hospital won’t even say that. Said spokeswoman Ann Nickels in a text message: “I have nothing further to add.” What silence really says The immediate benefit of disclosure — after you’ve patched your shop and helped peers with equally sensitive systems secure their own — is education for everybody else who might not be in the same line of work but who might be running software with the same vulnerability. “The best way to educate the public on how to not make the same mistakes is to publicly disclose the cause of a breach,” Moussouris said. But organizations don’t have much motivation to take that first step. And until more of them do, hopelessly vague cybersecurity storylines imply that hacks just happen — they don’t — and that we must blindly trust large corporations to fix these apparently inevitable problems. That leaves us not just unaware of security flaws that might be lurking on our own computers, but generally powerless in the entire cybersecurity debate. Moussouris, who has helped organize such collaborative vulnerability-research initiatives as the Defense Department’s “Hack the Pentagon” project , suggested it would take either regulation — “which can be more damaging than helpful in some cases” — or pressure from customers. But if I or somebody in my family needs urgent care, and the closest hospital is a MedStar facility, am I going to complain about their infosec? Absolutely not. So this problem isn’t going away anytime soon. Email Rob at [email protected] ; follow him on Twitter at @robpegoraro .
[Random Sample of Social Media Buzz (last 60 days)]
#BTA Price: Bittrex 0.00002901 BTC YoBit 0.00002492 BTC Bleutrade 0.00002684 BTC #BTA 2016-04-20 13:00 pic.twitter.com/bgEO8ZJ4ay || LIVE: Profit = $698.58 (8.72 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $449.57 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 MUE Price: Bittrex 0.00000057 BTC YoBit 0.00000055 BTC Bleutrade 0.00000066 BTC #MUE #MUEprice 2016-04-13 15:00 pic.twitter.com/SWphXGla4y || One Bitcoin now worth $444.00@bitstamp. High $444.49. Low $436.60. Market Cap $6.864 Billion #bitcoin || My robot has 84 hp left! I've earned a total of 1,196,097 free satoshis from http://www.robotcoingame.com/?id=122519 #robotcoingame #Bitcoin || $565.85 at 17:00 UTC [24h Range: $558.54 - $588.71 Volume: 7024 BTC] || One Bitcoin now worth $441.00@bitstamp. High $444.00. Low $433.11. Market Cap $ 6.817 Billion #bitcoin pic.twitter.com/KNRg02AJ3Z || $ 0.011063 (-0.22 %) 0.00001923 BTC (0.00 %) #WHIPPED #FETISH #BDSM || BTCTurk 1716.6 TL BTCe 568.949 $ CampBx $ BitStamp 579.00 $ Cavirtex $ CEXIO 587.21 $ Bitcoin.de 512.51 € #Bitcoin #btc || $448.08 at 19:00 UTC [24h Range: $447.27 - $456.90 Volume: 2601 BTC]
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Trend: up || Prices: 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91, 756.23, 763.78
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Why XRP Is Outperforming Bitcoin Today: The cryptocurrency market is posing a recovery at press-time after the slump over the last two days that saw Bitcoin (BTC) retreat from an all-time high of $41,962.36 to near-$30,000 levels. Bitcoin has recovered 4.35% in the 24-hours leading to press-time at $36,280, with a market dominance of 68.5%. Ethereum (ETH), the world's second-largest cryptocurrency, is up 4.29% at $1,140. Yet, the one stealing the show among the large-cap cryptocurrencies is XRP (XRP), which is trading above the crucial $0.30 mark at press time. XRP has added 10.1% over 24 hours and 31.6% over seven days. The surge comes as Ripple Labs Inc. — the Silicon Valley company behind XRP — announced that former Amazon.com Inc. (NASDAQ: AMZN ) Vice President of Delivery Experience Devraj Varadhan has joined the payments network as the senior vice president of engineering. Ripple's all-star engineering team continues to grow – thrilled to welcome Dev as our new SVP of Engineering! https://t.co/OH5ceDOX4K — Brad Garlinghouse (@bgarlinghouse) January 11, 2021 “Just as the internet was the driving force behind many of today’s leading companies, blockchain has the potential to fundamentally change our current financial system and bring billions of unbanked people into the financial ecosystem and accelerate financial inclusion globally,” the former Amazon executive said on his motivation to join Ripple. XRP has been troubled in the face of a lawsuit from the U.S. Securities and Exchange Commission on whether the cryptocurrency qualifies as a security. See more from Benzinga Click here for options trades from Benzinga Bitcoin Breaches ,000 Mark In Unfazed Rally Cryptocurrency Market Valuation Crosses T, Bitcoin Zeroes In On Tesla © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CrayPay Gets Investment From Dash Investment Foundation: CrayPay, a leading loyalty platform operating in the U.S. aimed at streamlining instant rewards for users in online and store chains, has received an investment from the Dash Investment Foundation. The cooperation agreement foresees the connection of Dash as a means of payment at more than 155,000 merchant locations and 75 retail websites in the US. The retailers in question include such prominent brands as Best Buy, Domino’s GAP, Lowe’s, Staples and others. Dash Core Group has coordinated with the investment provided by the Dash Investment Foundation to allow the creation of a white-label version of the application developed by CrayPay specifically for users of Dash. The low transaction fees provided by Dash will allow the application to offer users broader shopping opportunities at a wider range of merchants, in addition to savings at higher rates than those offered by the regular CrayPay app. “The application provided by CrayPay offers a convenient and versatile platform for Dash users to spend their assets in the U.S. across a broad range of brand points of sale with a high user experience,” said Ryan Taylor, CEO of Dash Core Group. “The application will give users higher savings opportunities in comparison with bank card cash-back programs.” “We’re excited to work with the Dash community to bring our loyalty program to Dash users. Dash’s InstantSend technology eliminates chargeback risks, which enables CrayPay to instantly authorize payment to our merchant partners, so Dash really is the best option for instant low-cost payments on our platform,” said Marshall Greenwald, CEO of CrayPay. With the new partnership, Dash may become the leading cryptocurrency payment method in the United States surpassing Bitcoin accepted by just 18,739 retailers, according to Coinmap.org . Disclaimer: the writer does not have any relationship to any of the companies mentioned in this article. Story continues See more from Benzinga Click here for options trades from Benzinga 10 Under The Radar DeFi Projects With Massive Potential How Gold Alliance Provides Financial Diversification Opportunities For Americans © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || FOREX-Dollar consolidates losses after week-long drubbing: * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Updates prices)
By Iain Withers
LONDON, Dec 18 (Reuters) - The dollar consolidated losses on Friday after a week of declines that pushed it to its lowest in two and a half years, as its slide sucked in more short sellers looking to make an easy buck.
The dollar index edged up 0.1% on the day to just short of 90, but remained on track for a fall of more than 1% over the week. It had reached its lowest in more than two years at 89.723 on Thursday.
Policy updates from central banks in the United States, Japan, Britain, Switzerland and Norway this week should do little to upend recent currency market trends and the long-term weakening of the U.S. dollar, analysts predicted.
"The announcements this week certainly reinforce the prospects of loose monetary conditions and favourable risk asset performance, which led by the Fed will keep the U.S. dollar on a weakening path," analysts at MUFG said in a note.
The Bank of Japan announced on Friday an extension of its COVID-19 loan programmes by six months and a surprise review of its policy to consider "further effective and substantive monetary easing", to conclude by March 2021.
The dollar rebounded as much as half a percent against the yen to 103.595 yen. It was last up 0.2%, but remains on track for a more than half a percent drop against the Japanese currency for the week.
The pound reversed some of its gains against the dollar and euro as knife-edge talks over a Brexit trade deal between the UK and European Union continued.
EU Brexit negotiator Michel Barnier said on Friday that "just a few hours" remained for negotiations to reach a trade deal with Britain, with the path to any deal "very narrow". British prime minister Boris Johnson said trade talks were "looking difficult" but the door for further negotiations remained open.
Bitcoin traded around $23,000, after rocketing to its highest-ever level on Thursday.
(Reporting by Iain Withers, Additional reporting by Tom Westbrook in Singapore; Editing by Chizu Nomiyama) || MORNING BID-PMIs to give pause for thought: A look at the day ahead from Dhara Ranasinghe
And so to the end of a week that has seen more corporate earnings in Europe and the United States, central banks from Tokyo to Frankfurt and Johannesburg meet, not to mention the inauguration of a new U.S. President that brings a fiscal boost closer.
But even financial markets need some time out every now and that appears to be the case on Friday, with world stocks just off record highs. The dollar, poised to log its worst week of the year so far, has steadied.
The release of flash PMIs from around the world, should provide some indication of how economies are faring into 2021. Given a resurgence of COVID-19 in Europe and fresh lockdowns, the data should point to weakness, and indeed the first figures out of Japan and Australia make for sombre reading.
Then again even PMIs may take a back seat as investors to vaccine rollout progress as the best guide to when economies might return to normal.
One worrying sign from Japan this morning -- core consumer prices slumped in December at the fastest annual pace in a decade, a sign of intensifying deflationary pressures.
One asset that's had a turbulent week is Bitcoin which is headed toward its sharpest weekly drop since September -- -- a 13% loss -- amid worries over regulation and the recent frothy rally.
Shares in German engineering group Siemens was up 2.3% in pre-market trade after the company reported better-than-expected preliminary results for its fiscal first quarter, driven by a strong performance of its digital division.
And in Italy, 10-year bond yields are trading near their highest levels since early-November after the European Central Bank said on Thursday it may not use the full firepower of its emergency bond buying scheme.
Italy's 10-year bond yield spread over Germany is now around 117 basis points, versus 112 bps at the start of the week.
Key developments that should provide more direction to markets on Friday: - UK retail sales recover weakly in Dec, borrowing jumps - Prosiebensat up 3.9% in pre-market trade after the firm report better than expected results. - Jan flash PMI globally -British retailers John Lewis, Premier Foods and Dixons enjoy better-than-expected Christmas sales - U.S. corporate Schlumberger reports earnings; Remy Cointreau in Europe
(Reporting by Dhara Ranasinghe) || Solar ETF Lights Up as Georgia’s Senate Race Fuels Green Energy Outlook: This article was originally published onETFTrends.com.
Solar stocks and sector-related exchange traded fund surged Wednesday on bets that the Democrat sweep in the Georgia Senate runoff election could help promote more aggressive green spending.
TheInvesco Solar ETF (NYSEArca: TAN)was among the best performing non-leveraged ETFs of Wednesday, rising 9.8%.
Election results in Georgia showed Democrat Raphael Warnock taking over incumbent Republican Kelly Loeffler for one of Georgia's U.S. Senate seats. In Georgia's other U.S. Senate runoff, Democrat Jon Ossoff was also leading Republican David Perdue by a narrow margin, but the tally has yet to be finalized.
“Clean-power policies are far more popular than Republican Senate leadership are willing to admit, so a Democratic win in Georgia could pave the way for Biden to aggressively push for a clean-energy package,” Katie Bays, managing director at FiscalNote Markets, a policy consulting company, toldBloomberg.
President-elect Joe Biden previously proposed a $2 trillion green spending plan as part of his climate agenda to achieve a carbon-free power sector by 2035. Two lobbying groups that represent the power sector and the automobile sector are already grouping up to make sure they help guide Biden's green direction, theWashington Postreports.
Market observers are also growing more bullish on the rising green sector as a more climate-friendly President comes to office.
JP Morgan analyst Paul Coster said in the company's December Alternative Energy Outlook that "the falling cost per watt of renewable energy…positions wind and solar as the lowest-cost source of energy in approximately 70% of the world (BNEF estimate),"Business Insiderreports.
"As low-cost batteries layer into the utility-scale wind and solar, we look to zero-carbon electricity to be competitive with fossil fuels as both energy and dispatchable capacity," Coster added.
For more information on the renewables space, visit ourrenewable energy category.
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READ MORE AT ETFTRENDS.COM > || New ETF Embraces Social Justice: Newcomer Adasina Social Capital, an investment and financial activism firm, launched an ETF that takes traditional ESG a step further to embrace social justice. The newAdasina Social Justice All Cap Global ETF (JSTC)is technically actively managed, but is guided by an index in its investment practices.
The fund comes with an expense ratio of 0.89% and lists on the NYSE Arca.
Rachel Robasciotti, co-founder and CEO of Adasina, notes that although she believes in index-based investing, the firm went with active management because of the need to respond quickly to developing situations. Some social justice issues are very fast-moving, and if “social justice groups are asking us to divest, we don’t want to tell them we’ll do that at the next rebalance,” she said.
However, the index is the primary guide for the portfolio, with the active management coming into play when current events raise immediate issues, according to Robasciotti.
Social Justice Criteria
JSTC’s related index has a strong focus on racial, gender, economic and climate justice while incorporating traditional ESG metrics as well.
“We designed it as an equity replacement for people who hold social justice values,” said Robasciotti. “Primarily what’s happening is we’re creating a bridge that hasn’t existed before between social justice movements and Wall Street.”
“By sourcing our data straight from impacted communities, through close relationships with social justice leaders, we have the unprecedented ability to direct investor capital to the issues most critical to long-term change—this approach gives us a data advantage relative to other solutions. We created the Adasina ETF to give every investor the opportunity to invest in line with social justice values, in almost any account, while still maintaining their relationship with their financial advisor,” she said
The firm works closely with social justice groups, described by Robasciotti as “organizations that are by and for the communities facing the issues,” to develop and maintain the index and develop data sets that are relevant to the fund’s goals. Adasina makes most of that data public, often in the form of exclusion lists targeting such topics as forced arbitration and sub-minimum wage pay.
“The best way to organize other investors is through data,” she said.
A team of social justice activists also advises the firm on the portfolio’s holdings.
Excluding Bad Actors
For the index, in the case of a core concern, that means that the most egregious actors are excluded, while other companies are alerted and given the opportunity to change their practices, Robasciotti notes.
“You have to give companies an opportunity to change. That’s kind of the whole point,” she said.
Her firm provides a matrix on its website that ranks “extractive” business practices that prioritize financial gains over social impact as the least desirable, while “regenerative” practices that focus on social impact and building community wealth and assets are ranked as the most desirable.
“For investing and running a business, extractive approaches may make for short-term success, but regenerative and sustainable makes for long-term success,” Robasciotti said.
Adasina has run a similar strategy as a separately managed account for three years, and it benefited in 2020 from excluding companies with involvement in fossil fuels, she notes. Other flashpoints that can result in immediate exclusion from the index include the use of forced arbitration as well as involvement in the tobacco or private prison industries among other business activities and practices.
“We believe that social justice movements could very possibly be early indicators of material risk,” Robasciotti said of the investment argument for the fund.
As of the end of November, the index included 891 components drawn from 42 different countries, the prospectus says. The top holdings in the fund include Visa, Anthem and ASML Holding, according to its website, while the largest countries represented in the index are the United States, Japan and Canada.
Contact Heather Bell at [email protected]
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Permalink| © Copyright 2020ETF.com.All rights reserved || Gaming Company The9 Is Buying 5,000 More Bitcoin Miners: Publicly traded Chinese gaming company The9 (NASDAQ: NCTY) has inked a deal to buy 5,000 more bitcoin (BTC) mining machines. According to an announcement Friday, its subsidiary, NBTC Ltd., has signed an agreement with Shenzhen-based MicroBT to buy WhatsMiner machines within one year. The agreement covers the purchase of the M32 and M31S WhatsMiner models, with the first batch of 440 M32 machines bought today. The9 said plans to keep on buying different types of cryptocurrency mining machines going forward. In late January, the firm announced its pivot to bitcoin mining, saying it was buying 26,007 unnamed bitcoin ASIC machines, with most already deployed in China at the time of the announcement. Related Stories Gaming Company The9 Is Buying 5,000 More Bitcoin Miners Gaming Company The9 Is Buying 5,000 More Bitcoin Miners Gaming Company The9 Is Buying 5,000 More Bitcoin Miners Gaming Company The9 Is Buying 5,000 More Bitcoin Miners || This Day In Market History: Peak Tulip Mania: Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day in 1637, the infamous tulip bulb bubble reached its peak. Where Was The Market? The S&P 500 and the Dow Jones Industrial Average were nowhere to be found, and neither was the United States of America. What Else Was Going On In The World? In 1637, Colonial soldiers killed roughly 500 Pequot Native Americans in the first battle of the Pequot War, which became known as the Mystic Massacre. Anne Hutchinson was tried as a heretic in Massachusetts Bay Colony. A kilogram of “merchantable” codfish cost around 6.81 ounces of silver in Massachusetts at the time. Tulip Mania The Dutch tulip bulb bubble of 1637 is often considered the first ever speculative financial market bubble and is still referenced to this day as one of the best historical examples of irrational investor behavior. The bubble formed after The Dutch Republic created a futures market for tulips in the 17th century. By the time the market peaked in February, the price of some single tulip bulbs had reached more than 10 times the annual income of a skilled Dutch craftsman. At one point, one buyer reportedly offered 12 acres of land for a single bulb. The price of a Witte Croonen bulb reportedly soared 2,506% in just 33 days before plummeting on average 76% each year over the next five years. The 1841 book “Extraordinary Popular Delusions and the Madness of Crowds” claims Dutch tulip investors were ruined during the bursting of the bubble and the Dutch economy took a major hit, but scholars now say author Charles Mackay likely sensationalized the impact of the bubble. Related Links: This Day In Market History: The First Internet Search Engine IPO Why The Bitcoin Bubble Is Different From All Other Bubbles See more from Benzinga Click here for options trades from Benzinga How Much A ,000 Investment In Qualcomm 5 Years Ago Would Be Worth Today ,000, 5 Years Later: FAANG Stocks Roar © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Exchange Tokens Hit New All-time Highs as Stock Traders Rush to Crypto: Some retail equities traders, frustrated with recent restrictions on stock buying on trading platforms including Robinhood , are turning their attention to centralized and decentralized cryptocurrency exchanges (CEX and DEX, respectively), according to new data. That’s helping to drive several of these exchanges’ tokens to new highs. Last week GameStop (GME) and and other stocks involved in a battle between a short-selling hedge fund and a Reddit group captured the imagination of the general public, a battle that drove these stocks’ prices higher and squeezed the short seller. Now, some of that buying excitement has spilled over to crypto where CEX and DEX trading volumes have risen over the past week, according to several crypto trading data sites. Related: State of Crypto: How Will the Government React to GameStop? Read More: After GME, Dogecoin and Bitcoin, Chinese Traders Are Betting What Will Pump Next CEX volumes rise, taking tokens with them Trading volumes for bitcoin futures on Binance and FTX surged over the weekend, according to data site Skew. Binance’s BNB token hit a new all-time high at $50.27 during early U.S. trading hours on Monday, while FTX’s FTT token logged a record price of $12.95 on Friday, according to data from Messari. “ATH [all-time highs] on a few different matrices” [for BNB], Changpeng Zhao, chief executive of Binance, tweeted earlier Monday. Related: Interoperability Project Ren 'Joining' Alameda Research Through a spokesperson, Zhao told CoinDesk that Binance’s utility token’s price rally is driven by its multiple use cases. “[BNB’s] use cases have expanded to hundreds of applications on numerous platforms and projects within the crypto ecosystem [and] these are reflected in its growing price,” said the spokesperson, quoting Zhao. “…To become a true mass-adopted application, BNB must be able to facilitate billions of transactions per day. In its current form, we still have a long way to go.” Story continues The traffic spike last weekend pushing BNB and FTT to the record highs likely resulted from increased trading traffic by retail traders coming from the traditional stock market, according John Todaro, director of institutional research at TradeBlock. (Cryptocurrency analytics firm TradeBlock is a subsidiary of CoinDesk.) “The recent retail trading saga has shown that trading platforms, brokerages and even exchanges can shut down aspects of the trade process without much notice,” Todaro said. “This pushed some retail traders into cryptocurrency markets, as we saw with dogecoin , xrp , and stellar lumens catching a bid on the week.” Read More: Crypto Long & Short: GameStop, Dogecoin and a New Market Paradigm In an effort to capitalize on the retail trading frenzy caused by the GameStop stock drama, FTX last week listed a WallStreetBets (WSB) index quarterly futures contract , named for the Reddit group involved with the GameStop drama. The basket of stocks in the contract include GameStop plus Nokia (NOK), BlackBerry (BB), AMC Entertainment (AMC) plus the iShares Silver Trust (SLV) because of recent interest in silver . Read More: FTX Exchange Lists WallStreetBets Futures to Capitalize on Investing Movement “FTX lists tokenized equities, so investors could also be anticipating that Robinhood users and others may switch over to FTX to continue investing in stocks without the limits that various traditional brokerages have applied on their retail users,” Todaro added. As of press time, FTX did not respond to CoinDesk’s requests for comment. UniSwap and SushiSwap lead way for DEXs Activity in decentralized finance (DeFi) is on the upswing. Total January trading volume on DEXs soared to an all-time high above $50 billion. On a seven-day basis, UniSwap and SushiSwap, the two leading DEXs, took 48.8% and 23.3%, respectively, of all DEX trading volumes, according to Dune Analytics’ DEX metrics tracker . Read More: Decentralized Exchange Volumes Hit Record Above $50B in January “Overall, the [crypto] market has had a lot of volume increased, both on CEX and DeFi,” Peter Chan, lead quant trader at Hong Kong-based OneBit Quant, told CoinDesk. He credits growing trade volume on SushiSwap for its SUSHI token’s price surge. At the same time, Uniswap (UNI) and SushiSwap tokens exceeded their previous high prices, on Jan 31. and Feb. 1, respectively, according to data from Messari’s decentralized finance tracker. Retail traders appear to be driving at least part of the price movement. The number of Google searches for “Uniswap,” the biggest decentralized exchange by market cap, is almost as high as during last year’s “DeFi summer” boom. That is an indicator of retail demand for DEXs, according to TradeBlock’s weekly newsletter of Feb. 1. It also reflects some retail traders’ growing concerns regarding centralized trading platforms, with more people wanting to learn about decentralized exchanges such as Uniswap. “Within DeFi, arguably the most ostensible applications in the sector are the DEXs [such as] Uniswap and SushiSwap,” Todaro said. “As the sector heats up, UNI and SUSHI have been the primary benefactors as they are the most visible.” Related Stories Exchange Tokens Hit New All-time Highs as Stock Traders Rush to Crypto Exchange Tokens Hit New All-time Highs as Stock Traders Rush to Crypto || The Crypto Daily – Movers and Shakers – December 13th, 2020: Bitcoin, BTC to USD, rallied by 4.25% on Saturday. Reversing a 1.17% fall from Friday, Bitcoin ended the day at $18,818.0.
It was a bullish start to the weekend. Bitcoin rallied from an early morning intraday low $18,049.9 to a late intraday high $18,944.0.
Bitcoin broke through the first major resistance level at $18,356 and the second major resistance level at $18,663.
Coming up against resistance at $19,000, Bitcoin eased back to end the day at sub-$18,900 levels.
The near-term bullish trend remained intact, in spite of the latest pullback to sub-$18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Saturday.
Polkadot andRipple’s XRPfell by 1.46% and by 8.21% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Litecoinrallied by 6.21% to lead the way.
Binance Coin(+2.99%),Cardano’s ADA(+3.76%),Chainlink(+4.79%), andEthereum(+4.43%) also made solid gains.
Bitcoin Cash SV, (+1.28%) andCrypto.com Coin(+0.69%) saw relatively modest gains on the day, however.
In the current week, the crypto total market cap rose to a Monday high $569.88bn before falling to a Friday low $509.01bn. At the time of writing, the total market cap stood at $543.45bn.
Bitcoin’s dominance fell to a Wednesday low 63.03% before rising to a Saturday high 64.50%. At the time of writing, Bitcoin’s dominance stood at 64.44%.
At the time of writing, Bitcoin was up by 0.30% to $18,875.0. A mixed start to the day saw Bitcoin dip to an early morning low $18,811.0 before rising to a high $18,877.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day
Bitcoin Cash SV was down by 0.20% to buck the trend early on.
It was a bullish start to the day for the rest of the majors, however.
At the time of writing, Chainlink was up by 1.53% to lead the pack.
Bitcoin would need to avoid a fall through the pivot level at $18,604 to bring the first major resistance level at $19,158 into play.
Support from the broader market would be needed for Bitcoin to break back through to $19,000 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended crypto rally, the second major resistance level at $19,498 would likely come into play.
Failure to avoid a fall through the $18,604 pivot would bring the first major support level at $18,264 into play.
Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$18,000 levels. The second major support level sits at $17,710.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87
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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.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/07/19: Bitcoin Cash ABC tumbled by 10.4% on Sunday. Reversing a 2.19% gain from Saturday, Bitcoin Cash ABC ended the week down 15.7% at $396.33. The sell-off left Bitcoin Cash ABC down by 10.5% for the month of June.
A choppy morning saw Bitcoin Cash ABC rise to an early intraday high $446.9 before hitting reverse.
Falling short of the first major resistance level at $449.99, Bitcoin Cash ABC slid to a late afternoon low $396.36 before finding support.
The reversal saw Bitcoin Cash ABC fall through the first major support level at $421.59 and second major support level at $402.91.
Of greater significance was the fall through the 23.6% FIB of $418.
A late recovery to $416 levels was short-lived. Bitcoin Cash ABC slid back through the second major support level to an intraday low $396.33.
At the time of writing, Bitcoin Cash ABC was up by 3.41% to $409.85. A bullish start to the day saw Bitcoin Cash ABC rises from a morning low $396.0 to a high $410.11 before easing back.
Bitcoin Cash ABC left the major support and resistance levels untested early on, while also falling short of the 23.6% FIB of $418.
For the day ahead, a move through the 23.6% FIB would bring the first major resistance level at $430.04 into play.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from $418 levels.
Failure to move through the 23.6% FIB could see Bitcoin Cash ABC hit reverse later in the day. A fall through the morning low $396 would bring the first major support level at $379.47 into play.
Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$370 support levels on the day.
Litecoin fell by 8.4% on Sunday. Partially reversing an 11.58% rally from Saturday, Litecoin ended the week down 10.7% at $122.06. The reversal left Litecoin with just a 6.7% gain for the month of June.
A mixed start to the day saw Litecoin recover from a morning low $126.0 to strike a late morning intraday high $136.81.
Falling short of the first major resistance level at $141.47, Litecoin tumbled to a late intraday low $119.03.
Finding support at the first major support level at $119.97, Litecoin recovered to $122 levels at the day end.
At the time of writing, Litecoin was up by 1.61% to $124.02. Tracking the broader market, Litecoin rose from a morning low $120.52 to a high $125.56 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move through the morning high to $126 levels would support a run at $130 levels on the day.
In the event of an extended rally through the day, Litecoin would likely test the first major resistance level at $132.81.
Failure to move back through the morning high could see Litecoin hit reverse. A fall through the morning low $120.52 could see Litecoin test support at the 23.6% FIB of $117.
Barring a crypto meltdown, the first major support level at $115.3 should limit any downside in the event of a reversal.
Ripple’s XRP fell by 7.4% on Sunday. Reversing a 0.64% gain from Saturday, Ripple’s XRP ended the week down 16.2% at $0.3943. Ripple’s XRP ended the month of June down 9.9%.
Bearish through the morning, Ripple’s XRP fell from an intraday high $0.4287 to a final hour intraday low $0.393.
Falling well short of the major resistance levels, Ripple’s XRP fell through the 23.6% FIB of $0.4164 and first major support level at $0.4083.
It was the first time since 13thJune that Ripple’s XRP ended the day at sub-$0.40 levels…
At the time of writing, Ripple’s XRP was up by 4.64% to $0.41260. A particularly bullish start to the day saw Ripple’s XRP rise from a morning low $0.39013 to a high $0.4160.
While falling short of the first major resistance level at $0.4177, the 23.6% FIB of $0.4164 pinned Ripple’s XRP back early on.
For the day ahead, a break through the 23.6% FIB would support a rebound on the day. Barring an extended crypto rally, however, the first major resistance level at $0.4177 would likely leave $0.42 levels out of reach.
Failure to move through the 23.6% FIB could see Ripple’s XRP hit reverse. A fall through to $0.4050 levels would bring sub-$0.40 levels back into play.
Barring a crypto sell-off, Ripple’s XRP should steer clear of the first major support level at $0.3820.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• G20 News Drive Big Moves In The Markets || First Bitcoin Capital Corp Now Owns the Only USPTO Granted Patent for Bitcoin Kiosk/ATM: TEL AVIV, ISRAEL / ACCESSWIRE / August 1, 2019 /FIRST BITCOIN CAPITAL CORP (OTC PINK:BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies and the developer of blockchain powered technology is proud to announce today that it has acquiredhttp://legacy-assignments.uspto.gov/assignments/q?db=pat&reel=049886&frame=0552U.S. Patent No. 9,135,787 - “Bitcoin Kiosk / ATM Device and System Integrating Enrollment Protocol and Method of Using the Same.” Known as the“Bitcoin ATM patent”this patent is related to the purchase and sale of cryptocurrencies utilizing a Bitcoin ATM or kiosk that allows customers to purchase Bitcoin or other cryptocurrencies by using cash, debit or credit cards.
Bitcoin ATMs do not require their users to have bank accounts, so customers can simply pay and instantly buy or sell Bitcoin or other cryptocurrencies.
Greg Rubin, Company’s Chief Executive Officer stated, “Being the first ever publicly traded company in the Bitcoin and Blockchain industry, we now have acquired one of the most important intellectual properties in this space, as we believe that this patent will provide us a unique and leveraged position, in addition to our other projects as we continue moving forward into the digital asset and cryptocurrency businesses. This patent complements our innovation in the field.”
According to Coin ATM Radar, there are more than 3,000 Bitcoin ATMs in the United States as of July, 2019, with average daily 3.7 Bitcoin ATM installations in the US.
https://coinatmradar.com/charts/growth/united-states/
All Bitcoin ATMs and Kiosks manufactured and sold in the U.S., and all Bitcoin ATMs and Kiosks operated in the U.S. are believed to be subject to this patent and the company intends to enforce its right upon acquisition of same.
The Company has already begun negotiations with a major law firm that has a very successful track record in enforcing patent rights when working on a contingency basis.
U.S. Bitcoin ATMs represent 13.5 percent of all venues transacting in the digital currency worldwide, according to research by Larry Cermak, head of analysis at The Block.
It is expected that this number of Bitcoin ATMs will continue to rise in the near future with more and more people discovering bitcoin as a payment method and store of value.
First Bitcoin will develop strategies for structuring and implementation of an IP management plan. A business plan prepared by a third party foresees the owner of this unique Bitcoin patent earning more than 50 million dollars in profits over a 5 years period.
The acquisition of the Bitcoin ATM Patent was arranged through the facilities of IPOfferings LLC, a leading patent brokerage, patent valuation and IP consulting services firm."
About First Bitcoin Capital Corp
First Bitcoin Capital Corp (BITCF) began developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and BlockChain-centered Company, we provide our shareholders with diversified exposure to digital cryptocurrencies and BlockChain technologies.
The Company began developing it's own blockchain and cryptocurrency called First Bitcoin (COIN:BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net
https://coinmarketcap.com/currencies/first-bitcoin/
Contact us via:[email protected] visitwww.firstbitcoin.io
For more information please visit:https://firstbitcoin.io/patents
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 website and filings.
SOURCE:First Bitcoin Capital Corp.
View source version on accesswire.com:https://www.accesswire.com/554311/First-Bitcoin-Capital-Corp-Now-Owns-the-Only-USPTO-Granted-Patent-for-Bitcoin-KioskATM || PSA: The IRS Knows All About Your Secret Bitcoin Trades: The only thing that’s certain in life is death and taxes. For buyers ofBitcoinand other cryptos, the latter has come, as the IRS is now pumping out an avalanche of notices to more than 10,000 cryptocurrency investors whoprobably haven’t been upfrontabout their trades. The source of this isCoinbase, which submitted reports for 13,000 accounts under compulsion from a federal court order.
There are probably going to be a lot of worried Bitcoin fans waiting by their mailbox, but the reality is perhaps less severe. According to an article onForbes, the mail campaign has all the hallmarks of a “scattergun” approach, suggesting that the taxman is not necessarily interested in following up with every individual they reach out to.
Perhaps due to Bitcoin’s relatively unknown status for the majority of its existence, crypto largely escaped the taxman’s watchful eye for several years. That changed after the mammoth 2017 bull run.
The IRS ismost interestedin any Coinbase accounts whose transaction history exceeds $20,000.
There is a silver lining to this issue, and that is perhaps the government willeventuallysee the benefit of having an asset run on a blockchain.
Every transaction is viewable and verified, a situation which in theory wouldmake the IRS’s Bitcoin tracking considerably easier. This is just one of the factors that have always made the allegation that BTC is a haven for money laundering largely unfair, as cash is far less traceable than Bitcoin.
Read the full story on CCN.com. || Dash forced to upgrade after suspected attack on network: Cryptocurrency Dash was hit by a massive wave of transactions last week, caused either by a malicious actor trying to undermine the network or an unknown developer running a stress test—it’s unknown which one. The subsequent hack led to a slowdown in transaction confirmation times and a spike in fees. As a result, the Dash core team has just put out a fix to make the attacks much harder to carry out. Dash is well known for sending money more quickly and cheaply than Bitcoin, with an extra layer of security. Transactions cost less than a cent, and transaction times take about a second. However, to achieve this, it has a semi-trusted layer of Masternodes (computers that power the network), that do a lot of the heavy lifting. Over Wednesday and Thursday last week, Dash developers noticed two large spikes in transactions. During the attack, average transaction fees skyrocketed from $0.01 to $0.18. Dash brings anti-51 percent attack software upgrade to mainnet Under the sudden stress, the network descended into chaos. Masternodes crashed, and sometimes banned other Masternodes under high load; mining pools didn’t properly empty their mempools (the pool of transactions waiting to go through) and produced near-empty blocks, and some user transactions did not get included in blocks rapidly. All in all, things were in bad shape. The fix, known as version 0.14.0.3, included a number of improvements to help keep the network protected from both spam attacks and stress tests, which from the network’s perspective, are the same thing. While the attack had a big impact on the network, it didn’t shake the market. Over the two days, the price of Dash remained at around $104—although it has since dropped to $93. Clearly, investors aren’t worried. || AWS Backs $100,000 Competition to ‘Change the Face of Blockchain’: The problem: Given 1024-bit input x, compute the verifiable delay function ‘h=x^(2^t) mod N’ as fast as possible.
Related:ConsenSys-Backed Truffle Is Taking Its Dev Tools Beyond Just Ethereum
If you can understand the above, you could be in for a portion of a $100,000 prize – that is,ifyou can then beat the others attempting to calculate the answer with the greatest speed improvement.
The highly technical conundrum has been posed to coders in acompetition supported by Amazon Web Services(AWS) that aims to “change the face of blockchain,” as well as how hardware is designed and made.
Launched by the VDF Alliance, the competition aims to solve how to calculate something called the verifiable delay function (VDF) in the shortest time.
In its announcement, AWS paraphrases Justin Drake, a researcher with the Ethereum Foundation, explaining that “VDFs are a low-level building block in cryptography, barely more than a year old. It’s the “V” or ‘verifiable’ in VDF that makes the approach so unique.”
Related:Coders Are Trying to Connect Bitcoin’s Lightning Network to Ethereum
“It’s trustless,” according to Drake. “For the first time, it adds this notion of time with which you can build all these cool things.”
Included in the “cool things” promised by VDF tech is “unbiased proof of randomness.” Effectively, it could enable trustless, truly random number generators on blockchains. Currently, these are pseudo-random and can be exploited by bad actors by effectively being able to guess the number. With true randomness, that wouldn’t be possible.
If the tech can be advanced sufficiently it could help to move blockchain such as ethereum from the energy-intensive and hence costly proof-of-work algorithm to one called proof-of-stake.
“The Ethereum ecosystem alone currently uses on the order of 850 megawatts to extend blocks. That’s about $460 million in running costs per year,” said Tim Boeckmann, senior startup business development manager for AWS in the U.K. “With VDFs in Ethereum, there is an opportunity to bring down that cost to less than $0.13 million for the 0.25 megawatts of energy to power the hardware random beacons.”
In fact, the competition is being held in partnership with the Ethereum Foundation, as well as other alliance members, the Interchain Foundation, Protocol Labs, Supranational, Synopsys, and Xilinx, which are sponsoring the event “with support from AWS.”
As reported by CoinDesk previously, the Ethereum Foundation isalready workingon the VDF problem, revealing in February that it was considering spending $15 million in the search for true randomness.
VDFs are envisioned for use in ethereum’s much-anticipated proof-of-stake system calledSerenity, to which the ethereum network will migrate in the next few years.
The first round of the competition will run till the end of September, and will award prize money to the fastest design that solves the problem at the top of this article.
In the initial round of the competition, successful entrants will be awarded $3,000 for every nanosecond improvement. Full details can be foundhere.
Drakes suggests that those entering will need a blend of skills.
“You are going to need people who are really good at hardware design, but also people with algorithmic skills,” he said. “My guess is the winning team will have a combination of that expertise.”
AWSimage via Shutterstock
• Ethereum: What the Next 4 Years Look Like
• NBA and ‘CryptoKitties’ Creator Team Up to Launch In-Game Collectables || Group of Digital Asset Trade Associations to Establish Global Cryptocurrency Association: A group of national trade associations representing the local Virtual Asset Service Providers (VASPs) announced their intention to establish an association to provide a global representative for firms in the industry in a press release shared with Cointelegraph on June 29.
Per the release, the aforementionedJapanesetrade association signed a Memorandum of Understanding (MoU) in Osaka aiming to establish the association. The associations that signed the agreement include the Australian Digital Commerce Association (ADCA), Singapore Cryptocurrency and Blockchain Industry Association, Japan Blockchain Association, Korean Blockchain Association, Hong Kong Blockchain Association, and the Taiwan Parliamentary Coalition for Blockchain & Industry Self-Regulatory Organization.
The signing ceremony took place at the inaugural V20 VASP summit, which took place in parallel with theG20meeting in Osaka which has seen VASP representative collaborate with regulators. ADCA founder and V20 convenor Ronald M. Tucker commented:
“We’ve brought everyone on the journey to create a new body that will assist in establishing a means to engage with government agencies and the FATF to ensure our best interests are understood and valued at an international level.”
The press release explains that the MOU aims to establish dialogue with governments and regulators, support information exchange, promote policy and procedures, increase awareness of the industry and facilitate compliance.
As Cointelegraphreportedearlier this month, G20 finance ministers and central bank governors asked the Financial Stability Board (FSB) and global standard-setting organizations to monitor risks aroundcryptoassets.
Adam Back, who invented the hashcashproof-of-worksystem and was one of the first people to work on bitcoin (BTC),spokeabout the positive uses ofblockchainat this year’s G20 summit.
• Japan’s Financial Watchdog Orders Hacked Exchange Zaif to Improve Business
• India: Another Crypto Exchange Closes Due to Regulatory Pressure
• FATF to Strengthen Control Over Crypto Exchanges to Prevent Money Laundering
• Japan’s Line Reportedly Close to Obtaining FSA License for Japanese Crypto Exchange || Bitcoin cracks below $10,000 as market sees red: The price ofbitcoinfell below $10,000 yesterday, sparking a brutal sell-off across the crypto market.
Following the initial dip, the price of bitcoin fell down to $9,180, before regaining some of its value, rising to $9,700. Consequently, its market cap has fallen down to $170 billion. On the plus side, its share of the total crypto market cap has kept growing, up to66 percent.
Despite the recent downtrend since July 10, one Congressman remains confident on the underlying technology. Speaking on CNBC’s Squark Box, Patrick McHenry, U.S. Representative for North Carolina’s 10th congressional districtsaid, “My point here is, you can’t kill bitcoin.” He stated that not even China would be able to do so. But, he then went on to say that altcoins may be in a much weaker position.
On that note, bitcoin’s hashrate—computing power that secures the network—is still near its all-time high. Currently, it’s sitting at 64 million TH/s, just four TH/s down from its peak. This means that it is more secure than ever—backing up the Congressman’s point.
For the rest of the market, the majority of coins were in the red earlier today but a few have since regained some of their value in the last few hours. In the top ten coins by market cap,XRP,litecoinandbitcoin cashare in the green, in some cases, by as much as five percent.Ethereumhas managed to just stay afloat above $200.
Some of the worse performing coins in the last 24 hours are Crypto.com chain, known for its brand of crypto debit cards, ICON, a project focused on getting blockchains to connect to each other, and Metaverse ETP, a competitor to NEO.
And, according toCongress, the economic outlook of Libra isn’t looking so good either. || Bitcoin mining rig prices are soaring: Getting your hands on aBitcoinminer inChinathese days is challenging. Official websites areout of stock. Second-hand mining machines that were once sold as scrap metal are againpopular, and increasingly expensive. Andaccording to Chinese media, equipment prices are only going to go up.
The increased activity is evident in the surge in Bitcoin’s overall network computing power, which reached a new high,65EH/s, today. Zhang Wencheng, director of sales at Shenma Mining Machinery, told Chinese news siteBlockchainthat he predicts it will reach over 100 EH/s by the end of this year.
China’s miners reportedly supply around60 percentof Bitcoin miners thoughsome thinkthe actual number could be even higher. But while so much mining power lies in this vast nation due to its abundant reserves of hydroelectric energy, miners are still reliant on the availability of equipment, which itself depends on market forces that are outside their control.
The scarcity of rigs shouldn’t affect the supply of Bitcoin or make the network slower or less secure, saidKristy-Leigh Minehan, Chief Technology Officer at blockchain and AI company, Core Scientific. “It will ‘average out. All that matters is ‘relative’ hashrate.”
“The effect of rigs being in short supply means that new entrants that come into the market will not be able to participate.”
The root cause of the current scarcity is insufficient production capacity, Yang Zuxing, founder of equipment manufacturer Shenma Mining MachinerytoldBlockchain.
A chipmaker such as the Taiwan Semiconductor Manufacturing Company receives plenty of orders from large factories such as Apple, Qualcomm and AMD. It has limited capacity so the order of production depends on the size of each order. The smaller quantities needed by miners’ rigs means they are pushed to the back of the line.
And as the era of 5G and AI approaches—with a corresponding need for more specialist chips—things will get even worse for manufacturers of mining equipment.
The contrast to the situation six months ago, when the mining machine market was still in adepression, is great. In December, Bitcoin mining rigs were reportedly selling for scrap metal prices. A second-hand Antminer S9—one of the most popular older machines, and not optimized for energy efficiency—couldn’t fetch 600 yuan ($87.) Now, according to oneBlockchainminerinterviewee, it can command five times as much.
Old equipment is better than none. But Bitcoin’s mining difficulty has also reached anall-time peak, on the back of the recent price surge. That means competition for block rewards between miners has never been higher. And the more powerful, newer, more energy efficient equipment is what’s needed to solve the increasingly difficult calculations to win block rewards. || The Three Rules Volley Back and Forth: This article was originally published onETFTrends.com.
ByRiverFront Investment Management
Summer is now in full swing with Wimbledon under way, and the S&P 500 is attempting to set itsthirdrecord high within the last three months to align with tennis’thirdgrand slam of the year. Some of the marquee players who have combined to win multiple Wimbledon titles will face formidable challenges from young up and comers in addition to the physical and mental toll that comes along with the process. Global equity markets are in a similar predicament. Challenges are found in the form of trade tensions between the US and China, slowing earnings growth, and the central bank policy of the Federal Reserve.
Last weekend’s meeting between Presidents Trump and Xi at the G-20 meeting in Osaka, Japan should help to ease some of the pressure on the trade front, as the two countries agreed to restart negotiations after several months of acrimonious rhetoric. From an earnings and central bank policy perspective, we will have to be spectators for a while longer as Q2 reporting season does not get into full swing until mid-month and the Fed will not make its next rate decision until July 31 st . The early odds are favoring weaker Q2 earnings and a near-certain probability of a cut in the fed funds interest rate target. Given this backdrop, RiverFront’s three tactical rules of Don’t Fight the Fed, Don’t Fight the Trend, and Beware of the Crowd at Extremes have changed since our last update. Below you will find a summary chart highlighting changes in the three rules since ourApril 29th,Weekly View:
DON’T FIGHT THE FED: We believe investors should not go against the policy guidance of central bankers in the US or abroad.
The current policy stance of the Fed is supportive of a continuation of the ten-year economic expansion and is bullish for risk assets as financial conditions have eased since the beginning of the year. According to the Chicago Fed’s National Financial Conditions Index, financial conditions are close to the loosest they have ever been; indicating a willingness for financial institutions to lend to borrowers. The Fed and global central banks have become dovish as inflation has failed to hit their 2% target despite relatively strong labor markets. Central bankers have once again started to use monetary measures to stimulate their economies. In the US, the Fed recognizes the strength of bank balance sheets and has allowed banks to reduce the levels of reserves on hand, freeing up excess capital that can be lent to businesses and consumers. This can be seen in the chart (right) of combined central bank balance sheets. We believe the Fed is currently supportive and on the investor’s side.
Internationally, the rate of change differs across the board regarding policy decisions. For instance, in Europe we view the ECB as supportive after Mario Draghi committed to restarting its Asset Purchase Program (APP) if necessary. The BOJ on the other hand committed to additional easing but was light on details so we continue to rate it as neutral/positive as we await further stimulus. In China, the PBoC is providing its own version of quantitative easing and we view the central bank guidance as supportive.
DON’T FIGHT THE TREND: We believe investors should determine the direction and strength of the trend and make investment decisions accordingly.
Currently the US primary trend, which we define as the S&P 500’s 200 day moving average remains flat. While the S&P 500 set new highs in April and June, each subsequent high has been harder to attain and less impressive than the previous. Consider for a moment, since the September 2018 high of 2940, the mark has been broken twice by an unimpressive 15 points. It has now been nine months and after the volleying back and forth (volatility) the S&P has gone virtually nowhere; hence the flat trend.
BEWARE OF THE CROWD AT EXTREMES:
We believe investors should analyze sentiment to determine if it is sustainable at current levels. If sentiment is identified to be unsustainable, then as investors we should be willing to lean in the other direction and be prepared to act aggressively once the condition changes.
Ned Davis Research’s (NDR) Weekly Crowd Sentiment Poll is at the upper end of neutral after reaching extreme optimism in late April and then falling into extreme pessimism in late May. The drop in May to extreme pessimism came as trade negotiations fell apart with China. The subsequent rebound in sentiment from the May lows was driven by the Fed becoming more dovish and acknowledging its willingness to cut interest rates if needed. This change in investor sentiment has allowed the S&P to rally from the bottom of the 2700 to 2955 trading range. Sentiment, in our view, will be primarily driven by the Federal Reserve’s monetary policy decisions, the trajectory of global trade tensions, and global political climate. The circles in the chart below show how extremes in investor sentiment (pessimism and optimism) have coincided with market peaks and troughs.
Past performance is no guarantee of future results. © 2019 Ned Davis Research Inc. Further distribution prohibited without prior permission. All Rights Reserved. See NDR Disclaimer atwww.ndr.com/copyright.html. For data disclaimers refer to www.ndr.com/vendorinfo/.
THE FINAL VERDICT:
The Fed signaling a probable rate cut and the recent de-escalation of US/China trade tensions has created a positive backdrop for equity performance. With central banks on the investor’s side, a flat trend, and neutral sentiment, our three signals suggest optimism for stocks in the near term. If the conditions for the trend and the crowd improve from here, we will look to increase our exposure to equities across all portfolios. However, if conditions deteriorate from here, we would maintain our risk neutral stance in the shorter time horizon portfolios and our slight equity overweight in the longer time horizon portfolios.
Important Disclosure Information
The comments above refer generally to financial markets and not RiverFront portfolios or any related performance. Past results are no guarantee of future results and no representation is made that a client will or is likely to achieve positive returns, avoid losses, or experience returns similar to those shown or experienced in the past.
Information or data shown or used in this material is for illustrative purposes only and was received from sources believed to be reliable, but accuracy is not guaranteed.
In a rising interest rate environment, the value of fixed-income securities generally declines.
It is not possible to invest directly in an index.
When referring to being “overweight” or “underweight” relative to a market or asset class, RiverFront is referring to our current portfolios’ weightings compared with the 2016 strategic allocations for each portfolio, as opposed to compared with the portfolios’ composite benchmarks.
Technical analysis is based on the study of historical price movements and past trend patterns. There are no assurances that movements or trends can or will be duplicated in the future.
Small-, mid- and micro-cap companies may be hindered as a result of limited resources or less diverse products or services and have therefore historically been more volatile than the stocks of larger, more established companies.
Investing in foreign companies poses additional risks since political and economic events unique to a country or region may affect those markets and their issuers. In addition to such general international risks, the portfolio may also be exposed to currency fluctuation risks and emerging markets risks as described further below.
Changes in the value of foreign currencies compared to the U.S. dollar may affect (positively or negatively) the value of the portfolio’s investments. Such currency movements may occur separately from, and/or in response to, events that do not otherwise affect the value of the security in the issuer’s home country. Also, the value of the portfolio may be influenced by currency exchange control regulations. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by the portfolio.
Foreign investments, especially investments in emerging markets, can be riskier and more volatile than investments in the U.S. and are considered speculative and subject to heightened risks in addition to the general risks of investing in non-U.S. securities. Also, inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.
Stocks represent partial ownership of a corporation. If the corporation does well, its value increases, and investors share in the appreciation. However, if it goes bankrupt, or performs poorly, investors can lose their entire initial investment (i.e., the stock price can go to zero). Bonds represent a loan made by an investor to a corporation or government. As such, the investor gets a guaranteed interest rate for a specific period of time and expects to get their original investment back at the end of that time period, along with the interest earned. Investment risk is repayment of the principal (amount invested). In the event of a bankruptcy or other corporate disruption, bonds are senior to stocks. Investors should be aware of these differences prior to investing.
Standard & Poor’s (S&P) 500 Index measures the performance of 500 large cap stocks, which together represent about 80% of the total US equities market.
MSCI ACWI ex USA Index captures large and mid cap representation across 22 of 23 developed markets (DM) countries (excluding the US) and 23 emerging markets (EM) countries.
RiverFront Investment Group, LLC, is an investment adviser registered with the Securities Exchange Commission under the Investment Advisers Act of 1940. The company manages a variety of portfolios utilizing stocks, bonds, and exchange-traded funds (ETFs). RiverFront also serves as sub-advisor to a series of mutual funds and ETFs. Opinions expressed are current as of the date shown and are subject to change. They are not intended as investment recommendations.
RiverFront is owned primarily by its employees through RiverFront Investment Holding Group, LLC, the holding company for RiverFront. Baird Financial Corporation (BFC) is a minority owner of RiverFront Investment Holding Group, LLC and therefore an indirect owner of RiverFront. BFC is the parent company of Robert W. Baird & Co. Incorporated (“Baird”), a registered broker/dealer and investment adviser.
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READ MORE AT ETFTRENDS.COM > || Bitcoin dominance on the rise: Will altcoins recover?: If youve been following the most recent price action in the crypto markets, youre probably wondering whats going to happen within the next couple of weeks especially if youre holding some altcoins. Will the bull market be kind to the majority of cryptos like in 2017? Or will we see a sudden drop in interest around altcoins as Bitcoins market dominance continues to rise? Bitcoin and the broader cryptocurrency market underwent a sharp correction on Sunday , knocking more than $20 billion off the total market capitalisation in less than 24 hours. The pullback followed a brief period of consolidation that saw Bitcoin struggle to get back above the $12,000 mark. All of the top-20 coins reported losses on Sunday, with Bitcoin falling 6.9% to $11,155, according to TradingView. With the reversal, Bitcoins market cap has slipped back below $200 billion for the first time since last Thursday. Bitcoin dominance on the rise Even though many cryptocurrency enthusiasts and investors are still hoping for an altcoin bull season, the data shows that BTC market dominance is once again on the rise and it is showing no signs of slowing down. At the time of writing, Bitcoins market dominance is sitting close to 65%. What this shows us is that investors have been betting heavily on Bitcoin and are not so sure about altcoins even major ones. Apart from Litecoin and Binance Coin , most of the top-10 cryptocurrencies have been underperforming against Bitcoin during 2019. It seems some lessons have been learned from the ICO craze of 2017/18. Of course, we now have the rise of IEOs, which aim to disrupt how cryptocurrency projects raise funds by giving the gatekeeping power to exchanges entities that have proven time and time again to be untrustworthy. My guess is that Bitcoin market dominance will keep rising until it breaks new all-time highs. There is little evidence that shows an opposite path developing ahead, as most institutional investment is focusing on Bitcoin. Will altcoins recover? There are a couple of things I would like to focus on in this graph. First, lets take a look at that beautiful pink trend line that started at the top of the bull market in early 2018 and is still going today. What this shows is that bear markets are extremely painful for altcoin holders but that is not news. More interestingly, we can see theres a trend for Bitcoin to keep gaining dominance past 70%. If what I believe is correct and Bitcoin dominance grows another 10% before it stabilises, what will happen to altcoins? Well, for starters, I believe most will never recover. The ones that do will moon past previous highs as well. Story continues Another interesting indicator is the volume profile on the left, which shows us that Bitcoins dominance just crossed an important level: 60% dominance. This level had the most volume both from Bitcoin buyers and sellers. Now that volumes are super thin, I expect Bitcoin to reach $20,000 by the end of the year, and when price plateaus, new entrants will look toward altcoins for gains. We cant forget that one of the most important drivers of human behaviour is greed. FOMO is what pumps price past previous highs and is what brings new people into the market. Despite everyone, or mostly everyone, saying volatility is bad for Bitcoin and for the cryptocurrency market in general, they seem to forget that without great volatility, theres no room for huge price swings. And what attracts traders and new entrants the most? Precisely. Conclusion Bitcoin dominance is clearly on the rise, and it will keep going until it reaches a maximum of 80%. I believe that will happen close to the top of the current bull cycle , and afterwards well see investors and traders switching to altcoins for gains. If you want to get into the market, look at the top performers of 2019, like Litecoin (LTC) and Binance Coin (BNB), and think of what will happen to those coins when Bitcoin dominance declines. Im pretty confident their prices will go berserk and power past previous highs. Safe trades! The post Bitcoin dominance on the rise: Will altcoins recover? appeared first on Coin Rivet . View comments
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#VET - Unusual selling activity
42.04 BTC in 30 seconds (19%)
B: 0.00000044 🔴 (2.22%)
A: 0.00000045 🔴 (2.17%)
24H Vol: 267.91 BTC
Last signal: 1 day ago (6/7D) || New post in BitcoinTrade: Bitcoin Price: $10,800 Now Crucial as Multiple Death Crosses Appear
<img src= https://t.co/9QKMKLZ41u || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket
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Trend: up || Prices: 10370.82, 10185.50, 9754.42, 9510.20, 9598.17, 9630.66, 9757.97, 10346.76, 10623.54, 10594.49
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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.
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[Technical Analysis for 2018-02-28]
BTC Price: 10397.90, BTC RSI: 51.30
Gold Price: 1315.50, Gold RSI: 43.56
Oil Price: 61.64, Oil RSI: 46.44
[Random Sample of News (last 60 days)]
Forget China: This Country Has Become the Most Intriguing Cryptocurrency Battleground: Though traditional equities like stocks and bonds have been relied on for more than a century to create wealth, it's cryptocurrencies that have managed to steal the show, and investors' attention, for the better part of a year. Since the beginning of 2017, the aggregate market cap of all cryptocurrencies combined has launched higher from $17.7 billion to nearly $836 billion as of Jan. 5, 2018, representing a better than 4,500% increase in value in a shade over one year. Never have investors witnessed such a sharp rise in value for a single asset class in such a short period of time.
There have been no shortage of reasons behind this rally in virtual currencies. Some would say that the rise ofblockchain technologyhas played a pivotal role in pushing valuations higher. It could also be rightly argued that theunfairness of decentralized cryptocurrency marketshas greatly contributed to their success. With virtually no ability to make money by betting against digital currencies, it naturally incentivizes emotional investors to push these virtual coins ever higher.
But with parabolic valuations also comes significant risk.
Image source: Getty Images.
Arguably one of the primary concerns with cryptocurrencies is their regulation, or lack thereof. Whereas bitcoin (CCC: BTC-USD) benefited in 2017 from Japan making it a legal form of tender, the world's most popular cryptocurrency has also drawn the short stick in a half-dozen other countries that havecompletely banned it(and other digital currencies). Just as easily as one door opens for this revolutionary asset class, another seems to close.
China is often viewed as one of the biggest battleground countries for the crypto revolution. Last summer, China's government put an end to initial coin offerings (essentially an initial public offering, but for digital currencies), and it announced that it would move to shut down domestic cryptocurrency exchanges.
Even more recently, the Chinese government announced it would go after the facilities that mine cryptocurrencies, such as bitcoin. A Jan. 3 press release from the nation's central bank outlined a plan to limit power supply to some bitcoin miners, per unnamed sources. Given that China currently accounts for greater than two-thirds of all processing power devoted to bitcoin mining, such a move is a clear blow to the bitcoin community, and the evolution of cryptocurrencies as a whole.
Image source: Getty Images.
But despite all the attention that China garners as a battleground country for cryptocurrencies, its neighbor, Russia, is far more intriguing.
You see, China is already growing by leaps and bounds, and has been doing so for decades. Its economy is a well-oiled machine. Russia, though, not so much. Its currency, the ruble, has been in shambles more than once over the past couple of decades, and the country's dependency on oil has caused wild vacillations in its economic growth. On paper, Russia would seem like a perfect candidate for the cryptocurrency revolution to take hold.
Just last month,Sberbank(NASDAQOTH: SBRCY), Russian's largest bank by assets, announced that it had executed the first real-money transfer over anIBM(NYSE: IBM)-built blockchain. Though the amount that was transferred remains a mystery, it involved a payer and receiver in two separate banks, and led to an almost instant settling of the funds transferred.
What's more, IBM wasn't the only brand-name business involved in this project. Sberbank listedMegaFon, the country's second-largest wireless operator, MegaLabs, an IT-solutions provider, and Alfa-Bank, a large private Russian bank, as partners along with IBM. Having such a large brand presence for this groundbreaking transaction, along with Sberbank being a member of the 200 organization-strongEnterprise Ethereum Alliance, suggests that Russia's financial system is aiming to deploy blockchain technology within the next couple of years.
Image source: Getty Images.
But Russian leadership hasn't always been supportive of blockchain technology and cryptocurrencies in general. President Vladimir Putin, who's widely expected to win reelection in 2018 and remain Russia's leader for some time to come, had this to say back in October during a meeting on cryptocurrencies and financial technology:
Virtual [currencies] or cryptocurrencies are becoming and have already become more popular. They have already become or are turning into a full-fledged payment instrument and an investment asset in certain countries. At the same time, use of cryptocurrencies also carries serious risks.
Mind you, these comments from Putin were made after Russia's central bank announced it would support efforts to block access to external websites that offered cryptocurrency brokering services in Russia.
Then again, Putin and the Russian government are also tinkering with the idea of creating a Kremlin-backed cryptocurrency to reportedly help the country dodge international sanctions. Putin's economic advisor, Sergei Glazev, was quoted by theFinancial Timesas saying that Kremlin-backed cryptocurrency could be useful to carry out "sensitive activity on behalf of the state." While this would imply that Russia does have interest in blockchain technology, it doesn't answer whether Russia's banking industry would be able to put this technology to use.
Personally, I believe Russia offers the perfect dynamic to test the potential of blockchain. The only question is whether the government will allow its financial industry the opportunity to do so on a scaled basis.
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Sean Williamshas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || 3 Reasons Dividend-Monster Pfizer Inc. Could Explode Higher: Pfizer Inc. (NYSE: PFE ) has been rather quietly churning higher. Over the last six months, Pfizer stock is up nearly 10% and it hit new highs in December. With a dividend yield of 3.75% and a low valuation, many investors are content holding shares of PFE. The question is, should investors buy in now? Let’s examine some of the positives. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Pfizer Stock Valuation Many investors are drawn to flashier names like Celgene Corporation (NASDAQ: CELG ) or Gilead Sciences, Inc. (NASDAQ: GILD ) but ignore large-cap stocks like Pfizer. Some say it’s too boring, but good business has never been boring to me. 10 Worry-Free Dividend Stocks With Rising Payouts There’s a reason we liked Pfizer back in July when it was $33. Trading at 22 times earnings wasn’t why, but trading at just 13 times forward earnings estimates was. That’s a shockingly low valuation for a company with a strong brand name like Pfizer and big dividend yield. Although far from robust, analysts are calling for almost 8% earnings growth on essentially flat revenue growth. That means the company is becoming more profitable and boosting margins. While it would be more enticing to see a sales gain, remember we are only paying 13 times its next 12 months of earnings. That’s pretty darn cheap. While analysts expect Pfizer’s earnings growth to slip to just 6.6% next year, they are looking for sales growth of 2.5%. Although these aren’t great growth numbers, they’re still very solid in my opinion. For investors who want stronger growth and a low valuation, perhaps they should consider CELG stock . Pfizer’s Dividend For some, a low valuation and reasonable growth isn’t enough of a reason to own the stock. In fact, I’d personally take CELG over Pfizer stock — if we’re only talking about growth and valuation. It would, however, be foolish not to consider the dividend yield of Pfizer. Story continues Paying out 3.75% is a pretty stout piece of income. While many growth investors may shrug off the attractiveness of a dividend, income investors chomp at the bit for a payout like this. Keep in mind, automakers like General Motors Company (NYSE: GM ) and Ford Motor Company (NYSE: F ) are considered high yielders and barely pay out this much. Some high yielders, GM included, actually have a lower dividend yield than Pfizer. This is just one reason why PFE stock made our list containing some of the best dividend stocks to buy . Consider U.S. Treasury notes and bonds. The AAA-rated paper pays out a low yield in exchange for investor capital. We can debate the merits of risk-free returns until we’re blue in the face. (So we won’t!) But instead, let’s look at the payouts. The 10-year Treasury yields about 2.45%, while the 30-year yield is roughly 2.9%. While there are times to buy fixed income and avoid stocks, I don’t think this is one of them. Why buy a 10- or 30-year Treasury paying out between 2.4% and 2.9% when we can buy Pfizer stock? 3 Reasons the Electronic Arts Inc. Stock Rally Is Just Getting Started It pays 3.75%, smashing the yield form Treasuries, while posting decent growth in its business. Trading Pfizer Stock The last reason to consider a long position in Pfizer stock? Simple, its stock chart. Chart of Pfizer stock PFE stock has a pretty attractive setup for both short- and long-term traders and the chart is fairly simple to read. Momentum is neither robust nor dreadful. Shares are not overbought or oversold. Pfizer stock, for the most part is a shoulder shrug. Short-term traders can consider buying PFE north of $36. This level of resistance gave way in December and has now been acting as support. Should it continue to do so, new highs near $37.50 and above are in target. Investors can buy now and take on Pfizer stock as a low-risk, low-reward trade. However, longer term investors can use today’s prices as their first entry and look to add on a decline. Specifically, a fall to the long-term trend line (black) would be a great spot to buy at. It will also be near the 200-day moving average, another likely level of support. This trend-line has been in place since November 2016. I would have plenty of confidence adding to a long position in Pfizer stock should it eventually correct to this level. On the plus side, it will have an even higher yield too. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace 4 Bitcoin Alternatives That You Need for 2018 Ford Motor Company Stock Is Going Nowhere Fast Micron Technology, Inc. Stock Is a Strong Buy on Any Dip Compare Brokers The post 3 Reasons Dividend-Monster Pfizer Inc. Could Explode Higher appeared first on InvestorPlace . || Why Shares of J.C. Penney Surged Today: What happened Shares of department store chain J.C. Penney (NYSE: JCP) jumped on Tuesday without any company-specific news driving the gain. Instead, it appears that optimism about a solid holiday season for retailers, coupled with J.C. Penney's expected release of holiday sales results , is pushing up the stock. Shares were up about 10% at 12:10 p.m. EST. So what There's been some reason for optimism in recent weeks that holiday retail sales would come in stronger than expected. The Commerce Department reported in December that retail and food sales in November were up 5.8% year over year, and up 0.8% from October on a seasonally adjusted basis. The front of a J.C. Penney store. Image source: J.C. Penney. Later in December, Mastercard SpendingPulse added another data point. The report put retail sales, excluding automobiles, between Nov. 1 and Christmas Eve up 4.9% year over year, the best performance since 2011. J.C. Penney desperately needs a win. The stock got hammered in 2017, losing more than 60% of its value. It's down a whopping 93% from its 10-year high. Now what Whether or not a strong holiday season for retailers in general translates into a strong season for department stores remains to be seen. The Commerce Department data for November put adjusted department store sales up just 1.7% year over year, a much smaller increase than overall retail. Still, even middling comparable sales growth for J.C. Penney might be enough to propel the stock higher. We'll know more later this week, assuming J.C. Penney sticks with precedent and releases holiday sales data. 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 Timothy Green 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 Delta Air Lines, Community Health Systems, and First Solar Jumped Today: The stock market resumed its upward surge on Thursday, climbing after yesterday's slight pullback. TheDowwas up by triple digits, while other major benchmarks posted gains of nearly 1% to climb toward record heights yet again. Earnings season is beginning, and the early news has been good, with a number of companies pre-announcing better results than investors had expected to see. Broad-based macroeconomic factors are also working in the market's favor.Delta Air Lines(NYSE: DAL),Community Health Systems(NYSE: CYH), andFirst Solar(NASDAQ: FSLR)were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Delta Air Lines gained 5%after the commercial airline giant reported its fiscal fourth-quarter results. Revenue and adjusted net income were both up strongly, although the bottom-line gains were due to a one-time charge in the year-ago quarter related to pilot labor costs. Even though the company's internal expenses will likely keep rising, that didn't stop Delta from boosting its earnings guidance for the coming fiscal year, relying largely on the gains from lower corporate tax rates stemming from the recent tax reform effort in Washington. Competition in the industry is fierce, but Delta is still leading the way higher for the entire group.
Image source: Delta Air Lines.
Community Health Systems stock soared nearly 24% in the wake of a larger financial commitment from a major shareholder. A regulatory filing revealed that the hospital operator's largest shareholder, Chinese investment company Shanda Group, nowowns almost a quarter of Community Health's outstanding shares. Despite the size of today's gains, the upward move does little to offset the nearly 90% drop in the stock over the past three years, and Community Health still faces an uphill battle to get its balance sheet into better condition and find ways to navigate an ever-changing industry environment in healthcare.
Finally, shares of First Solar jumped 9.5%. The solar manufacturer got a positive recommendation from analysts at Vertical Group, which started their coverage of First Solar with a buy rating. Thesolar giant's stock more than doubled in 2017, rising in light of strong demand for its large-scale solar generation projects. Expectations that First Solar's products won't be subject to tariffs that many of its competitors will have to pay also helped boost optimism about the stock. The company has ambitious growth plans through the end of the decade, but with a big increase in interest in renewable energy, First Solar seems to have the wind at its back and clear skies ahead.
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Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool recommends First Solar. The Motley Fool has adisclosure policy. || Bitcoin Looks Above $10K, But Resistance May Await: Having hit two-week highs, bitcoin is now aiming for the $10,000 mark and beyond, but further gains may be transient, the charts indicate.
Bitcoin (BTC) picked up bid yesterday following a bullish breakout on charts and rose above $9,000 in a convincing manner. The cryptocurrency moved higher to $9,961 today - the highest level since Feb. 1, as perCoinDesk's Bitcoin Price Index(BPI).
As of writing, BTC is up more than 60 percent from the Feb. 6 low below $6,000. Furthermore, in the last 24 hours, BTC has appreciated by nearly 12 percent.
The price rise should put to rest the fears that bitcoin may take a beating or move in a sideways manner during the Chinese holiday lull. Besides, asdiscussed yesterday, February has been a good month for bitcoin since 2015.
Still, the chart analysis suggests that a continued rally above $10,000 may not have legs.
Meanwhile, the broader markets are also solidly bid, currently. Litecoin has appreciated by 28 percent in the last 24 hours and is the biggest gainer among the top 10 cryptocurrencies by market capitalization. Meanwhile, ethereum's ether token, Ripple's XRP, Stellar and NEO are up at least 8 percent each.
The abovechart(prices as per Coinbase) shows:
• BTC has moved above the resistance at $9,181.48 (23.6 percent Fibonacci retracement of the sell-off from record highs).
• Momentum studies: 5-day moving average (MA) and 10-day MA are curled up in favor of the bulls.
• The relative strength index (RSI) is on the rise, indicating a potential for a further rally in prices.
So, BTC looks set to test $10,000 and may extend gains to $11,000 as suggested by theinverse head and shoulders breakout.
However, gains above $10,000 are to be viewed with caution, the weekly chart indicates.
• The bearish 5-week MA and 10-week MA crossover suggest the weekly chart outlook remains bearish.
• Also, the 5-week MA is sloping downwards in favor of the bears and is currently seen at $9,826.55.
• TheRSIremains below resistance zone of 53.00-55.00 (previous support zone), also in favor of the bears.
• While a rally to $11,000 is likely, the sustainability of gains above the $10,000 mark is under question.
• Bearish scenario: Failure to hit $10,000, followed by a daily close (as per UTC) below $7,851 (Feb. 11 low), would validate the bearish weekly chart and open the doors for a deeper sell-off to as low as $6,000.
Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase and Ripple.
Metro barriersimage via Shutterstock
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• Bitcoin Drops Below $10K as Crypto Markets Dip || Here's What I'm Watching When Wells Fargo Reports Earnings: Earnings season is upon us, and the big U.S. banks are among the first companies set to report. One bank that I'm keeping a particularly close eye on as we await its fourth-quarter earnings isWells Fargo(NYSE: WFC), which reports on Friday, Jan. 12.
You're probably familiar with Wells Fargo's infamousfake-accounts scandal, which has been weighing on the company's growth, profitability, and efficiency lately. Will the bank begin to successfully move on from the scandal, or are the days of Wells Fargo as the most profitable and efficient U.S. banking giant in the past?
Image source: Getty Images.
One of the most alarming things that can happen to a bank, or any other company for that matter, is to significantly underperform its peer group. This can be an indication that the bank is losing market share or its competitive advantages.
In the third quarter of 2017, thelargest U.S. banksposted revenue growth across the board,except for Wells Fargo,which saw revenue drop by 2% year over year. Earnings were up across the board as well, except for Wells Fargo.
I'm not as concerned about hitting a certain metric, such as 5% revenue growth, as I am that Wells Fargo's growth is in line with its peer group. If other big banks' revenue jumps by, say, 4%, I want to see a similar move in Wells' numbers. The same goes for other areas, such as deposit and loan growth.
In the 10 or so years that I've been following bank stocks professionally, Wells Fargo has been the most profitable of the "big four" U.S. banks without fail, as you can see below.
WFC return on equity (TTM)data byYCharts.
This came to an abrupt end in the wake of the bank's numerous recent scandals. Its return on assets has fallen from 1.17% to 0.94% over the past year, and its return on equity has fallen below the key 10% industry benchmark for the first time in several years.
The same can be said about its efficiency ratio, which has historically been among the highest of its peer group. Well, over the past year, Wells Fargo's efficiency has deteriorated from 59.4% (lower is better) to 65.5%.
Some of this was undoubtedly due to the bank's increased legal expenses, which are a temporary problem. So, in the upcoming earnings report, as well as over the next several quarters, I'll be curious to see how much of the profitability drop was temporary and how much (if any) is going to be permanent.
Generally speaking, when the Federal Reserve raises rates, it translates into better net interest margins, or profit margins, for banks. In simple terms, the rates banks charge on loans tend to grow faster than the rates they pay out on deposits, resulting in a growing spread between the two.
When Wells Fargo issued its third-quarter earnings report, the lack of margin expansion was one of the mostconcerning things I saw, given the recent Fed rate hikes. Over the past four quarters, net interest margins forBank of AmericaandJPMorgan Chasehave risen by 13 and 11 basis points, respectively, while Wells Fargo's margins haven't changed at all.
So, when the bank reports its year-end earnings, I'll be looking to see if the bank's margins are finally showing signs of growth.
In the third quarter, before we had any idea what tax reform would look like or whether it would even get done at all, Wells Fargo operated at a 31.2% effective tax rate (combined federal and state), which is one of the highest among its peer group. So, it seems reasonable to expect that the new 21% corporate tax rate could benefit Wells Fargo going forward.
In the fourth-quarter earnings report, and the conference call that follows, we should get some color as to what impact the bank's management expects from tax reform, both in an immediate sense and on an ongoing basis. It has already announced plans to boost its minimum wage to $15 per hour and that it will increase its charitable giving by about 40%. While these are certainly noble causes, it hasn't yet given any specifics about how its bottom line could also be helped.
Just to give you an idea of what you could expect, analysis by Goldman Sachs concluded that the seven largest U.S. banks (excluding Goldman) could see earnings increase by an average of 14%, and Wells Fargo would get the biggest boost. According to Goldman's analysis, Wells Fargo's earnings could jump by 18%, mainly because virtually all of its profits are domestic.
As you can see, aside from the point about tax reform, what I'll be watching centers around whether Wells Fargo is successfully overcoming the effects of its fake-accounts scandal and other 2017 issues. If the bank's revenue growth picks up, interest margins start to improve, and it starts to look like the most profitable and efficient of the big four U.S. banks once again, Wells Fargo's current stock price could be a major bargain.
On the other hand, if the scandal's effects linger for a long time, or it turns out that Wells Fargo has permanently lost its key competitive advantage of cross-selling products to its customers, which helped it to be so profitable and efficient, the company could continue to be a laggard in the banking sector for some time.
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Matthew Frankelowns shares of Bank of America. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Elon Musk Goes All In at Tesla: Anyone who thinks of Tesla, Inc. (NASDAQ: TSLA) as merely an automaker is missing the point. The company has an almost cultlike following, not only among the large majority of its customers but among investors as well. Tesla is part technology company, part Silicon Valley start-up, part artificial intelligence researcher, and part movement. Oh, and also designer and manufacturer of electric vehicles. Tesla's storied history is inexorably tied to that of its CEO, Elon Musk. To say he is a visionary doesn't quite capture the essence of the man. Charismatic and audacious, he's considered an engineering genius and has been compared to the fictional billionaire and playboy Tony Stark, or Iron Man. Now Musk is making his biggest bet yet on Tesla's success -- and he won't be paid at all if the company doesn't succeed. A Tesla Model 3 Can Elon Musk guide Tesla to a huge payday? Image source: Tesla. Boom or bust In late January, Tesla announced a new long-term "performance award" for Musk. It's a compensation package tied to market capitalization and operational milestones that would see Tesla become "one of the most valuable companies in the world." To say the targets are ambitious is putting it mildly. The New York Times called the compensation package "perhaps the most radical in corporate history." In order for Musk to become fully vested in the plan, Tesla needs to grow into a $650 billion company from a market cap of about $58 billion today. The award package is also contingent on the company's achieving certain revenue and adjusted EBITDA goals. Musk "will receive no guaranteed compensation of any kind -- no salary, no cash bonuses, and no equity that vests simply by the passage of time," according to the company's press release . This performance award will be "100% at-risk" -- meaning each goal is all-or-nothing for Musk. The package consists of a 10-year grant of stock options, divided into 12 tranches that will vest upon the fulfillment of predetermined milestones. For each of the dozen pairs of incremental targets Musk reaches, which include a $50 billion increase in Tesla's market cap, he will be awarded 1% of Tesla's shares outstanding, or an estimated 1.69 million shares. So each goal is worth $584 million at today's prices, and the overall amount potentially exceeds $55 billion. (My colleague Evan Niu covers the specific milestones in more detail .) Story continues There are other requirements as well. Even If Musk succeeds in achieving each of these ambitious goals and the shares vest, he must hold them for an additional five years before he can sell the stock. He must also remain with the company, either as CEO, or as both executive chairman and chief product officer. This ensures that Musk's interests are aligned with those of Tesla's shareholders over the long term. No guarantees These are ambitious goals considering the challenges Tesla has seen thus. During the ongoing production ramp-up of the Model 3, Musk at one point said the company was "deep in production hell." In 2017, the company was hoping to build as many as 5,000 cars per week, with an eye toward achieving that goal by the end the year. Tesla amended that timeline, pushing back the deadline to March 2018. Tesla has been experiencing more production delays and has since revised its timetable yet again. The company is looking to produce just 2,500 units per week by March, saying it is currently focusing on efficiency and quality rather than speed. The company delivered just 220 sedans in the third quarter and 1,550 in the fourth quarter of last year. Not the first time Tesla said that this pay plan was modeled after Musk's 2012 compensation plan, which helped drive a "17-fold increase in Tesla's market cap in the five years after it was put in place." While shareholders should be happy with the compensation package, not everyone believes it is achievable -- with some even going so far as to call it "delusional." Musk's business ventures have revolutionized payments , reinvigorated space travel , and created one of the most valuable car companies in the world -- so betting against him seems like a fool's errand. 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 Danny Vena owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy . || Bitcoin Exchange Accidentally Drops Prices to Zero: Photo credit: S3studio - Getty From Popular Mechanics A mix-up at Japanese cryptocurrency exchange Zaif accidentally reduced the price of Bitcoin to zero for 18 minutes last week. During the small window, seven customers were able to get cut-rate Bitcoin in trades that were later voided, according to Reuters . One of them managed a score worth a comical $20 trillion and promptly turned around to try and resell it. Japanese outlet Asahi Shumbun reports that matters were resolved within two hours of the glitch's correction, but not before one buyer who managed to purchase 2,200-trillion-yen worth of Bitcoin ($20 trillion US) was already attempting to sell off his bounty which exceeded the cryptocurrency's roughly $180 billion market ca p by several trillion dollars. Japans Financial Services Agency is now investigating Tech Bureau, the group that owns the Zaif exchange, over the security flaws that lead to the situation. For now, it looks like the record for biggest Bitcoin heist remains at a relatively paltry $530 million . Related: Source: Reuters , Asahi Shumbun You Might Also Like The 50 Tools Everyone Should Own 50 States, 50 U.S. Parks You Need to Visit 19 Easy Ways to Winterize Your Home View comments || Mega-marijuana merger creates new high for Canadian growers: An employee makes cuttings from a mother plant to grow new medical marijuana plants at a facility in Canada (James MacDonald/Bloomberg via Getty Images) Successful boardroom mergers create their own highs in business – and now two Canadian firms have joined forces to become the world’s largest (legal) marijuana grower. After months of talking and fighting, Aurora Cannabis, the country’s number two producer, has agreed to buy smaller rival CanniMed Therapeutics for C$1.1 billion (£620m). The merger will create a £4.2bn company as firms jostle to take advantage of Canada’s move to legalise recreational cannabis from July this year. MORE: Exclusive: J&J out of race for Pfizer’s $20 billion consumer unit as deadline looms “We literally did not finish this thing until (Wednesday) morning. Nobody got any sleep (on Tuesday) night and that’s been pretty much par for the course for the last week,” said Cam Battley, Aurora’s chief corporate officer. Canada’s prime minister Justin Trudeau vowed last year to “legalise, regulate, and restrict access to marijuana” in order to disrupt the illegal market and curb access to the drug. The country’s Parliamentary Budget Office has estimated about 4.6m people aged 15 and over would use cannabis at least once this year. It also estimated that some 655 metric tons of cannabis will be consumed this year. Canada’s Prime Minister Justin Trudeau vowed to tackle illegal growers of cannabis (REUTERS/Denis Balibouse) Canada will be the second country to legalise recreational marijuana after Uruguay. CanniMed can produce 18,000kg of marijuana a year, while Aurora has more than ten times that. MORE: Government search begins for towns willing to have a radioactive waste site in their backyard Analysts say the merged company will now be in a position to challenge market leader Canopy Growth for official government contracts to develop marijuana-based drugs for healthcare treatments. Brent Zettl, president and CEO of CanniMed, added: “This transaction clearly confirms that the company has been highly successful in becoming a pre-eminent global leader in the medical cannabis industry. “CanniMed has provided invaluable education, resources, support and relief of symptoms for thousands of patients served around the globe.” Story continues MORE: Bitcoin draws calls for more regulation at Davos There have been growing calls for the UK to relax its own laws regarding cannabis. At present, it remains a Class B drug, carrying a maximum five-year sentence and an unlimited fine if you’re caught in possession of it. Supply and production of the drug can result in a 14-year sentence and an unlimited fine. Many people use it for medicinal purposes as it is supposed to help alleviate chronic pain. || Facebook's cryptocurrency ban adds fuel to blockchain rumours: Mark Zuckerberg - AFP or licensors Facebook's ban on cryptocurrency adverts has added fuel to rumours that the social network may take a foray into world of digital coins. Facebook said its new policy, which prohibits adverts that relate to cryptocurrencies or initial coin offerings (ICOs) from the 2bn-user social network, is because they are “frequently associated with misleading or deceptive promotional practices". On the surface it appears to be a worthy purge, particularly after Facebook's history with Russian propaganda, but it has raised eyebrows among the technology community, mostly because it was only four weeks ago that Mark Zuckerberg revealed that he was studying cryptocurrencies and how to "best use them in our services". A new year's message on Facebook, posted in the first week of January, read: "With the rise of a small number of big tech companies - and governments using technology to watch their citizens - many people now believe technology only centralizes power rather than decentralizes it. "There are important counter-trends to this - like encryption and cryptocurrency - that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services." The post led to speculation that Mr Zuckerberg may be mulling integrating blockchain technology into WhatsApp or its Facebook payments system and Wednesday's blanket ban is likely to add fuel to the rumour fire. One of Facebook's messaging rivals, Telegram, recently announced its own initial coin offering this month. Telegram is a direct rival to Facebook-owned WhatsApp, and hopes the blockchain will help offer users extra privacy when making payments through its app. Following news of the advert ban, a Facebook spokesperson would not confirm nor deny whether blockchain was in the works for the social network, which has its own in-app payment system through Messenger. Story continues "There are clear benefits for a company like Facebook to launch an ICO," said Michael Jackson, ex-COO at Skype and venture capital investor at Mangrove Capital Partners. "Its user base is getting old and is less interested in pictures of babies and cats than it once was. Meanwhile the company is desperately trying to grow its presence in Asia - where much of the world’s crypto wealth is held." Mr Jackson added that it could drive broader adoption of ICOs but may struggle to knock Telegram off the top spot. “Telegram has become the de facto platform for crypto enthusiasts and I don’t see that changing anytime soon," he added. But Joao Baptista, Associate Professor of Information Systems at Warwick Business School said it was unlikely that the ban suggested Facebook might bring out a coin, adding that it could be a damaging move for the social network. "My view is that their move to stop cryptocurrency adverts is precisely to distance themselves from this territory, to preserve their reputation," Professor Baptista said. Blockchain by name | Crypto-companies "Facebook is in a position to be a ledger and also run a currency system, but at the moment this is too speculative and risky, and could easily destroy their brand value. They could use the technology to become a trusted third party instead as a ledger in exchanges and this may be a more promising development for them in the future, but managing a currency system is perhaps too much of a leap into the unknown at the moment." Google is currently battling malicious players cashing in on the booming Bitcoin trend . Bitcoin mining malware hidden in adverts shown on YouTube were shut down after visitors to the site discovered that their computers were being hijacked to mine thieves' digital coins. Facebook will likely be a target for criminals looking to harvest users' computer power along with defrauding them out of cash in fraudulent cryptocurrency exchanges. "Misleading ads have no place on Facebook. That’s why we created a policy to prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency," a spokesman said. "This policy is intentionally broad as a starting point, and will be enforced across our platforms. We will revisit this policy and how we enforce it as our signals improve and we work to better detect deceptive and misleading advertising practices." Rob Leathern, Facebook's product management director said that there were "many companies" who are "not currently operating in good faith". Bitcoin's price slumped on Tuesday night following the announcement.
[Random Sample of Social Media Buzz (last 60 days)]
Let me take you by the hand until you earn your first bitcoin commission - N,O,F,C,S,P https://fb.me/GoV1BHka || Bitcoin continues to plummet along with other cryptocurrencies http://bit.ly/2EowiRB pic.twitter.com/GTY9V3Jzt9 || But the ratio in Satoshi’s is on par @. 018 this time around. The price is down but the ratio to BTC is the same || Bitcoins: Discovering the Basics of Cryptocurrency, Blockchain and http://bit.ly/2BDW3td #Cybersecurity #Bitcoin pic.twitter.com/RdhlFmQEPl || $BTCUSD increased to $6,386.9. Next alerts set at $6,195.3 and $6,578.5 $BTC pic.twitter.com/HAwi3wYhJv || Current price of Bitcoin is $7549.57 “Like” if thats good for you and “retweet” if thats not good for you #bitcoin #btc #bitcoinprice || $MYHI pop - catching its bid. As I continue to say, #BTC $BTC is LEADING MJ and they are likely to continue the positive correlation they have exhibited since November. || "GitHub - bitrinjani/r2: R2 Bitcoin Arbitrager is an automatic arbitrage trading system powered by Node.js + TypeScript." https://github.com/bitrinjani/r2 || El precio actual del bitcoin es de 9760.00$ https://goo.gl/dYXtR5 pic.twitter.com/DHhR9bqLm2 || We will get at least another low, but again divide your buy ins. Current prediction 5k/5.5k for Bitcoin.
#crypto #altcoins #altcoin #cryptocurrency #vergefam #btc #CryptoNews #xvgwhale #DowJones $btc #cryptocrash #stock #Coinmarketcap #CryptoNews #xvgfam #vergefam #xvg #bitcoin
|
Trend: down || Prices: 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-04-04]
BTC Price: 6853.84, BTC RSI: 34.39
Gold Price: 1335.80, Gold RSI: 53.14
Oil Price: 63.37, Oil RSI: 50.74
[Random Sample of News (last 60 days)]
Facebook Could Be Preparing to Enter the Streaming Music Market: The streaming music market could grow from $1.4 billion in 2015 to $14.1 billion in 2030, according toGoldman Sachs'Music in the Airreport. That would represent a third of the entire music industry's revenues at the end of the period.
Discussions about the streaming music industry usually focus on companies likeSpotify,Pandora Music, andAppleMusic. ButFacebook's(NASDAQ: FB)recent deal with music licensing group and copyright database ICE Services indicates that it might also want a piece of the pie.
Image source: Getty Images.
ICE handles the copyrights of 31 million works of music from 290,000 rights holders, and represents three copyright groups -- PRS in the U.K., STIM in Sweden, and GEMA in Germany. Through the deal, which covers 160 territories, Facebook will pay ICE royalties every time its music is broadcast on its social network, Messenger, Instagram, or Oculus virtual reality platform. The financial terms of the deal were not disclosed.
This isn't the first time Facebook has paid for music rights. Last September, it reportedly paid "hundreds of millions" of dollars to major record labels and publishers to let its users add copyrighted songs to their uploaded videos.
Facebook has subsequently announced licensing deals withComcast's Universal Music Group,Sony/ATV Music, Global Music Rights, HFA/Rumblefish and Kobalt Music Group. It also introduced a Sound Collection feature, which lets content creators add no-name music to their videos. All of these agreements seem to be natural steps a company like Facebook would take before jumping into the streaming music market or expanding its video ecosystem.
Entering this market would be a natural next move for Facebook, which is already challengingAlphabet's YouTube in the streaming video market with itsFacebook Watchfeature.
Image source: Getty Images.
After all, the social network finished last quarter with 2.1 billion monthly active users, whileMorgan Stanleyreported that 40% of its U.S. users already watch videos on Facebook Watch every week.
But making the jump from video to streaming music isn't that simple. Last July, Billboard reported that YouTube Red and Google Play Music -- Alphabet's two big plays on the paid streaming market -- had a combined subscriber base of just 7 million. That's a paltry figure compared to the "over 1 billion users" YouTube claims to reach.
Spotify has over 70 million paid subscribers, and Apple has 36 million subscribers. Pandora has almost 75 million active listeners, but only 5.5 million paid subscribers. If Facebook wants to go head-to-head against these market leaders in streaming music, it could suffer the same fate as Google Play Music.
It's possible Facebook might simply want to integrate free streaming music into its apps. If that's the case, Facebook might expect to offset the royalty fees with ad revenue. But as Pandora's lack of profitability demonstrates, an ad-based strategy is far less sustainable than a subscription-based one.
It's unclear if Facebook plans to enter the streaming music market. However, investors should note that Facebook often stumbles when it expands beyond its core social network.
It attempted to challengeAmazonwith its own e-commerce platform, and tried to disrupt Android withHTC's curious Facebook Phone and the Facebook Home launcher. Those efforts flopped. Facebook also tried to disrupt the mobile app market with chatbots, but theyonly provedthat AI bots weren't reliable replacements for apps. And M -- Facebook's answer to Siri and Alexa -- was alsorecently axedfor similar reasons.
These failures don't necessarily mean that "Facebook Music" will suffer a similar fate. Facebook seems to have the right pieces for launching a successful streaming music platform, but its success would depend on how well it puts those pieces together.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Leo Sunowns shares of Amazon. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, and Pandora Media. The Motley Fool has the following options: long January 2020 $150 calls on Apple, short January 2020 $155 calls on Apple, short March 2018 $200 calls on Facebook, and long March 2018 $170 puts on Facebook. The Motley Fool has adisclosure policy. || Cryptos on the Brink: Ethereum, Ripple Prices Plunge as Coins Post 2018 Lows: The cryptocurrency markets continued to sour on Thursday, as the first quarter’s bearish wave continued to reverberate throughout the nascent industry. A variety of altcoins sunk to year-to-date lows and large-cap coins like Ethereum and Ripple were not immune from the bloodbath.
Altogether, thecryptocurrency market capshed another $17.8 billion — a daily decline of six percent — reducing it to a lean $281.3 billion and placing the $300 billion threshold further out of reach.
TheBitcoin priceled the retreat, though it was not its headliner. The flagship cryptocurrency dropped five percent to $7,485, once again beating the index and recapturing a modicum of market share even as its total valuation ebbed further into the red. At present, Bitcoin has a total market cap of $127.9 billion, which translates into a 45.4 percent share of the index.
Ethereum and Ripple fared even worse, as each of the two largest altcoins fell to a year-to-date low during intraday trading.
TheEthereum priceis currently trading at $412 on Bitfinex, up from a daily low of just $395. After today’s eight percent decline, Ethereum has a $40.7 billion market cap and a 14.5 percent share of the index (down from ~20 percent in February).
TheRipple price, meanwhile, dipped to about $0.53 on European cryptocurrency exchange Bitstamp. That represents a 24-hour decline of just under six percent and leaves XRP with a $21.3 billion market cap.
The bearish trend continued almost uniformly down the charts, as fewer than 10 cryptocurrencies managed to rise against the value of the US dollar.
In fact, Tron — currently ranked 10th by total market cap — was the only top 25 coin or token to return a single-day gain (excludingTether, which is a stablecoin). Tron rose just under 10 percent for the day, raising its price to $0.05 and market cap to $3.2 billion.
But though the bears are currently having their way with the charts, the bulls have not been deterred from their optimistic long-term forecasts.
As CCN reported, Wall Street strategist and Bitcoin bull Tom Lee advised clients in a recent note toHODLrather than attempting to time the market. He predicted that positive catalysts, including clarity on regulatory matters, will spur on a new market rally later in the year.
Abra CEO Bill Barhydt, meanwhile, recently predicted that institutional investors are poised to beginmaking a splash in cryptoassets, raising Bitcoin and altcoins alike.
“All hell will break loose,” he said adding that “Once the floodgates are opened, they’re opened.”
Featured image from Shutterstock.
The postCryptos on the Brink: Ethereum, Ripple Prices Plunge as Coins Post 2018 Lowsappeared first onCCN. || Cboe urges U.S. regulators to move forward with bitcoin ETFs: By John McCrank NEW YORK, March 26 (Reuters) - U.S. securities regulators should not stand in the way of exchange-traded funds that hold cryptocurrencies like bitcoin from coming to the market as they are essentially the same as other ETFs that hold commodities, said exchange operator Cboe Global Markets . The U.S. Securities and Exchange Commission said in January that "significant investor protection issues" needed to be examined before bitcoin-based ETFs could be offered and it also had concerns around how the products would be priced, stored and safeguarded. Cboe's letter said the exchange believes "that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation." The March 23 letter was signed by Cboe President Chris Concannon. Bitcoin can be moved around the world quickly and with relative anonymity, without a central authority such as a bank or government. The a virtual currency's 1,500 percent surge last year stoked investor demand. Cboe believes ETFs would give investors a more transparent and accessible way to get exposure to cryptocurrencies than the spot market. Yet bitcoin has been volatile, swinging from a 2018 high of $17,234.99 on Jan. 6 to a low of $5,920.72 on Feb. 6, and trading on Monday at about $8,092. Many investors remain leery, and the SEC has been cautious due to several massive cybersecurity breaches that have hit bitcoin owners and exchanges and a lack of consistent treatment of the assets by governments. The regulator has denied or tabled more than a dozen proposals for funds that would own bitcoin or futures based on them, including four separate proposals submitted by Cboe, such as the Winklevoss Bitcoin Trust. Cboe and rival CME Group Inc have successfully launched cash-settled bitcoin futures contracts, however, which the exchange operators self-certified in December and are regulated by the Commodity Futures Trading Commission. Story continues Cboe asked the SEC to evaluate each cryptocurrency fund and underlying cryptocurrency-related holdings on a case-by-case basis. More than $70 billion in notional value of bitcoin transactions traded hands in the spot market in December, when the price reached more than $19,000, Cboe said. Such liquidity would easily support bitcoin ETFs or other exchange-traded products (ETPs), the exchange said. "As the volumes continue to grow, especially on regulated U.S. markets, the overall spot bitcoin market looks more and more like a traditional commodity market and Cboe continues to believe that the spot market is sufficiently liquid to support a bitcoin ETP." (Reporting by John McCrank; Editing by David Gregorio) || 4 Social Security Tips You Need to Know: Millions of seniors depend on Social Security to pay the bills in retirement, and the more you know about the program, the better positioned you'll be to make the most of your benefits. Here are a few tips that'll help you take full advantage of this key program.
Though your Social Security benefits themselves are calculated based on how much you earned during your working years, the age at which you initially file can cause that number to change. In fact, workers are often advised to wait untilfull retirement ageto claim benefits because that's the point at which they'll be eligible to collect those payments in full. Yet nearly 75% of Americanshave no ideawhat their full retirement age is.
Your full retirement age is a function of your year of birth, as follows:
[{"1943-1954": "1955", "66": "66 and 2 months"}, {"1943-1954": "1956", "66": "66 and 4 months"}, {"1943-1954": "1957", "66": "66 and 6 months"}, {"1943-1954": "1958", "66": "66 and 8 months"}, {"1943-1954": "1959", "66": "66 and 10 months"}, {"1943-1954": "1960", "66": "67"}]
Data source: Social Security Administration.
This means that if you were born in 1961, you'll need to hold off on filing for Social Security until age 67 to avoid a reduction in benefits.
Image source: Getty Images.
Though waiting until full retirement age to claim benefits is a wise idea, you can get even more out of Social Security if you hold offpastfull retirement age. In fact, for each full year you delay, you'llaccrue creditsthat boost your payments by 8%. That said, those credits stop accumulating at 70, so once you reach that age, there's no sense innotfiling.
Some seniors -- namely, those without much other income -- don't pay taxes on their Social Security benefits. But if you have additional income sources, like a part-time job or savings, you might wind up on the hook for taxes on a portion of your benefits.
To see whether your benefits will be taxed, you'll need to figure yourprovisional income, which is your non-Social Security income plus 50% of your yearly Social Security benefit. If that number lands between $25,000 and $34,000 as a single tax filer, or between $32,000 and $44,000 as a joint filer, then you could be taxed on up to 50% of your benefits. Furthermore, if your provisional income is more than $34,000 as a single filer, or $44,000 as a couple filing jointly, then you could be taxed on up to 85% of your benefits.
Additionally, there are 13 states that tax Social Security income to varying degrees:
• Colorado
• Connecticut
• Kansas
• Minnesota
• Missouri
• Montana
• Nebraska
• New Mexico
• North Dakota
• Rhode Island
• Utah
• Vermont
• West Virginia
Many of these statesdooffer some sort of income-based exemption, but Minnesota, North Dakota, Vermont, and West Virginia do not. Regardless of where you live, be prepared to pay taxes on those benefits so you're not caught off guard.
The purpose of Social Security is to supplement your senior income -- not provide that income in its entirety. Yet countless workers neglect to save independently for retirement because they assume they'll have their benefits to fall back on, and that's a big mistake. In a best-case scenario, Social Security will replace about 40% of the typical worker's pre-retirement income. Most seniors, however, need double that amount to cover their bills.
The Social Security Administration reports that 34% of beneficiaries count on the program to provide between 90% and 100% of their total income. And those are the folks who are more likely to wind up impoverished in old age.
A better bet? Save on your own while you're still working. At present, you can contribute up to $5,500 a year to an IRA if you're under 50, and $6,500 if you're 50 or older. Employer-sponsored 401(k)s offer even more generous limits: $18,500 a year for workers under 50, and $24,500 for those 50 and above. Even if you can't max out either account type, saving a small amount each year will help you cover your living costs once you're older so that you're not relying too heavily on Social Security alone.
No matter your age, it pays to learn more about Social Security andhow it works. At some point in time, you'll likely come to depend on those benefits to some extent, and arming yourself with knowledge today is the best way to maximize them.
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The Motley Fool has adisclosure policy. || How Risky Is Sears Stock?: Sears Holdings (NASDAQ: SHLD) CEO Edward S. Lampert has done one thing well. He has managed to keep the lights on at Sears and Kmart while both chains lose money, close stores, and see customers abandon them. Lampert has been relentlessly upbeat despite the fact that his company has shrunk from 2,601 stores in Q3 2012 to 1,002 at the close of 2017. During that time the retailer has lost more than half of its revenue and it now has roughly $11 billion in liabilities versus $7.26 billion in assets. That's not something likely to improve anytime soon. The retailer lost $1.1 billion in 2015, $2.2 billion in 2016, and $383 million in 2017. That 2017 number, however, is very deceptive as it includes $1.64 billion from selling off assets and a benefit of approximately $470 million related to tax reform. Basically, even though Lampert tries to sell a turnaround story, Sears has been steadily sinking. Selling off assets buys the company time, but just because you got a nice price for your first kidney does not mean you can sell the second one without major problems. The exterior of a Sears store. Sears has seen its store count more than cut in half. Image source: Sears Holdings. How bad is it? Total revenue dropped from $22.1 billion in 2016 to $16.7 billion in 2017. During the year same-store traffic dropped by 13.5% across the company with Kmart locations seeing an 11.4% decline while Sears comps dropped by 15.2%. Those numbers are disastrous because they show that when the company closes a location, it loses those customers. It's very clear that when a Sears or Kmart goes away, the people who shopped there simply do not look for another one. How does the CEO see it Lampert desperately wants people to believe that a turnaround is already under way. He tried very hard to sell that in his remarks in the fourth-quarter earnings release. "We made progress in 2017, with a return to positive adjusted EBITDA and another quarter of year-over-year improvement in our financial results," Lampert said. "We also took the actions necessary to increase our liquidity and fund our ongoing transformation of the company." Story continues That's, at best, framing the company's reality through rose-colored glasses. It's very hard to look at Sears' pattern of closing stores, losing sales, and seeing its customer base shrink as "progress." How risky is Sears' stock? Sears has only stayed open by selling off real estate and assets like its Craftsman brand. As you can see from its dwindling asset base, unless a sales turnaround happens, it's very likely the chain will reach a point where it can't meet its debt obligations. The retailer's only quarterly profits over the past five years have come in quarters when there were special circumstances. Its actual operations have been losing money and none of the changes it has made have shown any signs of resonating with consumers. Buying Sears stock is betting on a long shot. It's betting that Lampert has a trick to pull out of his sleeve that he hasn't shown us. The end is near The reality is that Sears has failed in all but name. A chain can't survive by getting smaller and losing sales. Cutting expenses won't bring a retailer to profitability when you see same-store sales shrink by 13.5% across the two chains. Buying a gift card to Sears is a risk. Investing in its stock is a bigger one that carries a strong chance that you will lose your money. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel B. Kline 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 Activision Blizzard, Inc. Popped 17% in January: What happened Shares of Activision Blizzard (NASDAQ: ATVI) surged 17.1% last month, according to data from S&P Global Market Intelligence . The video game maker is dominating the sales rankings, while also making a bold move into the exploding market for esports. So what Activision Blizzard entered January with momentum, after two of its games -- Call of Duty: WWII and Destiny 2 -- placed No. 1 and No. 2 among the best-selling video games of 2017. The strong sales performances of these titles landed Activision a slew of analyst upgrades and price target increases. A screenshot of Activision Blizzard's Call of Duty: WWII game Activision Blizzard's Call of Duty: WWII was the best-selling video game of 2017. Image source: Activision Blizzard. The stock's ascent accelerated after Activision announced that it had struck a multi-year media rights deal with Amazon.com 's (NASDAQ: AMZN) Twitch video streaming site. Amazon will reportedly pay $90 million over two years for streaming rights to Activision's new Overwatch esports league . Days later, Overwatch League went on to draw more than 10 million viewers during its opening week. "This league demonstrates the power and potential of esports, and we're thrilled to continue expanding our partnership with Blizzard," Twitch COO Kevin Lin said in a press release. Now what Activision Blizzard's shares have pulled back about 8% so far in February, after the company released good, if not great, fourth-quarter results . Investors may wish to consider using this pullback as a buying opportunity. Activision has multiple catalysts that can propel its growth in the coming years, including movies and TV shows , consumer products , in-game advertising , and, of course, esports. As such, the video game titan gives investors many ways to profit. 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. Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Activision Blizzard and Amazon. The Motley Fool has a disclosure policy . || Starbucks Shoots for Recyclable, Compostable Cup by 2021: Starbucks(NASDAQ: SBUX)accounts for about 6 billion of the 600 billion paper and plastic cups used globally each year. That's a small percentage, but still a stunning amount of cups being thrown away at the coffee chain.
Now, the company has taken a major step toward fixing the issue.Starbuckshas committed $10 million to a partnership with Closed Loop Partners and its Center for the Circular Economy launch of what it's calling the "NextGen Cup Challenge." That's a fancy title for an effort designed to create a cup that can be fully recycled.
"This is the first step in the development of a global end-to-end solution that would allow cups around the world to be diverted from landfills and composted or given a second life as another cup, napkin, or even a chair -- anything that can use recycled material," the company explained in a press release.
Starbucks wants to keep its cups out of landfills. Image source: Starbucks.
The consortium will award grants to entrepreneurs working on ideas that could lead to sustainable cup solutions. NextGen Cup Challenge will also invite industry participation and partnership on the way to identifying a global solution.
"Through this partnership, the Challenge will enable leading innovators and entrepreneurs with financial, technical, and expert resources to fast-track global solutions, help get those solutions to shelf, through the recovery system and back into the supply chain" said Closed Loop Managing Director Rob Kaplan.
Any solutions that are developed will be kept open source. That means that any company, not just Starbucks, can benefit from them.
"The idea of environmental sustainability in packaging is not just a Starbucks issue. It's a global issue," said Starbucks Director of Packaging Andy Corlett. "Anything that gets us closer to that goal is not something we want to keep to ourselves."
Obviously, there are clear benefits to the planet in eliminating a source of waste. Aside from that, Starbucks is also conscious of the impact its business has on the planet. That has largely helped it avoid the environmental backlash its rival Keurig (which is in the process ofmerging withDr. Pepper Snapple) has experienced over the pollution caused by its K-cup coffee pods.
Starbucks uses sustainably sourced coffee at its restaurants around the world. It already uses 10% post-consumer recycled fiber in its cups which are recyclable in some markets including Seattle, San Francisco, Washington, D.C. and New York City. Still, Starbucks Vice President of Global Social Impact Colleen Chapman believes more can be done.
"No one is satisfied with the incremental industry progress made to date, it's just not moving fast enough," she said. "So today, we are declaring a moon shot for sustainability to work together as an industry to bring a fully recyclable and compostable cup to the market, with a three-year ambition."
Starbucks is essentially setting a benchmark for the entire industry, but is also willing to have its rivals along for the ride. This is a case where the company can do the right thing while also benefiting from the good publicity it generates by getting ahead of something consumers likely would have eventually demanded.
These efforts build the Starbucks brand, but that does not mean the company is merely thinking in terms of its image. The company has shown a steady commitment to recycling and sustainability and this move simply takes that to the next logical level.
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Daniel B. Klinehas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has adisclosure policy. || Could NXP Semiconductors N.V. Be a Millionaire-Maker Stock?: Netherlands-based chipmakerNXP Semiconductors(NASDAQ: NXPI)has made its fair share of millionaires over the years. Since parting ways from former parent companyRoyal Philipseight years ago, NXP shares have returned a stunning 730%. That far exceeds Philips' 23% gains or the 135% lift seen in theS&P 500over the same period.
NXPIdata byYCharts.
But I'm here to tell you that NXP won't be making any more millionaires at this point. This is most certainly not the perfect time to buy NXP shares. In fact, it's time to sell your existing position and go home.
NXP is staring down two possible futures right now, and neither one is likely to result in rising share prices this year.
Qualcomm(NASDAQ: QCOM)might be able to close its $44 billion buyout of NXP. This would effectively put an end to NXP as a stand-alone company and investable stock, giving Qualcomm all of NXP's heft in the automotive computing and digital security markets. Shareholders will be sent $127.50 of pure cash for each NXP share, a boost from the original $110 bid per share that has won over some of the merger's fiercest critics. That would be a 10% gain from current prices, so you'd need to invest $10 million if you want to score a $1 million gain.
Alternatively,the merger could fail right at the goal lineif China's regulatory review results in a flat-out block. The chances of this scenario playing out only increased when Trump started talking about trade wars with the Middle Kingdom. Three weeks ago,Chinese clearanceand a completed buyout looked like a done deal. Now, Qualcomm can't even schedule a meeting to discuss the NXP deal with Chinese regulators. Uncertainty is weighing on NXP's share price, explaining the 10% discount at a time when the stock should be clinging close to the agreed buyout price.
Image source: Getty Images.
The first scenario offers a modest 10% gain with an unknowable closing date. The second option would send NXP shares plunging as soon as the deal is canceled. The only choice that makes any sense under these conditions is to stay on the sidelines, perhaps getting ready to pounce on NXP if and when the no-deal discount arrives.
Under no circumstances am I a buyer of NXP shares today. Ask again when we know whether the Qualcomm deal is in the bag or not. If NXP shares still exist at that point, my answer is likely to be very different.
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Anders Bylundhas no position in any of the stocks mentioned. The Motley Fool owns shares of Qualcomm. The Motley Fool recommends NXP Semiconductors. The Motley Fool has adisclosure policy. || US Dollar Index (DX) Futures Technical Analysis – Sentiment Shifts to Downside on Move Under 89.51: The Dollar rallied to close out March as investors continued to square positions ahead of the end-of-the-month and the end-of-the-quarter. Some traders believe that with money flows ending, the weakness will resume in the dollar next week.
June U.S. Dollar Indexfutures settled at 89.812, up 0.093 or +0.10%.
The main trend is down according to the daily swing chart. However, momentum has been trending higher since the index posted a dramatic closing price reversal bottom at 88.53 on March 27.
A trade through 90.025 will change the main trend to up. If this move creates enough upside momentum then we could see an eventual test of the March 1 top at 90.49.
A trade through 88.53 will negate the closing price reversal bottom and signal a resumption of the downtrend.
The main range is 90.49 to 88.53. Its retracement zone is 89.51 to 89.74. This zone is controlling the direction of the index. The close over this zone suggests a developing upside bias. The chances for a rally increase the longer the market can stay over the zone which is new support.
A failure to sustain a rally over the 89.51 will suggest the return of sellers. This could trigger a break back to the longer-term retracement zone at 89.16 to 88.85, followed by the main bottom at 88.53.
There’s a lot on the table to consider for U.S. Dollar traders so we’re likely to straddle the 50% level at 89.51 for a few days until the fundamentals line up to support either a shift in sentiment to the upside, or a resumption of the recent selling pressure.
Based on Thursday’s close at 89.812, the direction of the dollar index early next week is likely to be determined by trader reaction to the Fibonacci level at 89.741.
A sustained move over this level will indicate the presence of buyers. If this creates enough upside momentum then look for the rally to continue into 90.025. This price is a potential trigger point for an acceleration to the upside with 90.49 the next major target.
A sustained move under 89.741 will signal the return of sellers. This could trigger a quick move into the 50% level at 89.51. Taking out this level will shift sentiment to the downside with a steep drop into 89.16 likely.
Thisarticlewas originally posted on FX Empire
• DAX Index Fundamental Analysis – week of April 2, 2018
• FTSE 100 traders rally during the week, reclaiming 7000
• Ethereum continues to look miserable, but there might be hope
• Crude Oil markets choppy during week, as we reach towards the top of the overall range.
• Comex High Grade Copper Price Futures (HG) Technical Analysis – Look for Steep Break if $2.9040 Fails
• Bitcoin fell again last week || Bitcoin could fall below $5,000 if this report on a mysterious cryptotoken is right: Broken representation of the Bitcoin virtual currency, placed on a monitor that displays stock graph and binary codes, are seen in this illustration picture Some people think bitcoins spectacular price rise last year was manipulated by a cryptotoken called Tether thats supposed to be pegged to the US dollar. Now, an anonymous report answers the question: What would bitcoin be worth without Tether? The answer: around $4,500, based on the current bitcoin price of about $7,600. Tether is a crypto token, or coin, thats supposed to be pegged to the dollar and backed by real dollar reserves in a bank account somewhere. Tethers coins are often used for dollars on cryptocurrency exchanges because of the reserve claim. Traders use Tethers coins to cash in and out of bitcoin quickly, avoiding the lengthy process of converting the sums in and out of fiat currency. However, Tether hasnt provided audits to prove its reserves exist. Can Elon Musk disrupt deep space with the worlds most powerful rocket? The uncertainty surrounding Tether has made crypto investors uneasy, an unease that became alarm when Bloomberg reported that Tether was subpoenaed by the US commodities trading regulator in December. Bitcoins price has fallen about 25% since that news broke. A group of investors called the 1000X Group, who look for the next big crypto hit, recently commissioned a report to determine Tethers influence on the bitcoin price. Based on publicly available information, the report found that bitcoins price rose about 40% in the two-hour windows after each batch of newly issued Tether coins arrived at the exchange Bitfinexs digital wallet, between last April and this January. The author claims anonymity because of fear of backlash from expressing an unpopular opinion. US startups dont want to go public anymore. Thats bad news for Americans Crypto market investors think the reports analysis is credible. Its a great reportawesome data analysis, says Alex Sunnarborg, who runs a crypto hedge fund called Tetras Capital. I think it shows that a huge piece of bitcoins price movement has directly followed Tether issuances very well. Story continues The price of bitcoin stood at $15,000 at the end of the period analyzed by the report, which is Jan. 4. If 40% of that price was directly attributed to Tether issuance, then the price of bitcoin without those new Tethers would have been about $9,000. The price of bitcoin at press-time is just over $7,600; applying the 40% Tether discount gives us a price of $4,500. But analysts caution that some of the news around Tether, including the subpoena from US regulators, could already be accounted for in the current bitcoin price, meaning the discount shouldnt be as deep. 3/ For me the Tether news has been baked into market prices hence, we have not seen further #crypto capitulation upon the confirmation of what #cryptotwitter has been discussing for months. Chris Burniske (@cburniske) February 1, 2018 The reports author paints an even more bearish outlook in some scenarios. If the bitcoin price was propped up by Tethers that were just magically created each time the price fell, as the authors analysis suggests, then the subsequent rallies potentially wouldnt have been as powerful over the last year. All told, the author believes the price of bitcoin could be just 30% of the price quoted on exchanges during the study period. That means instead of $15,000 in early January, the price of bitcoin should have been $4,500. Theres one more analysis that suggests the bitcoin price should be even lower. The author extrapolates a linear trend-line for the price starting last April, when Tethers began to be issued in earnest. That trend-line puts the price of bitcoin at just $2,000 instead of $15,000. It is highly unlikely that Tether is growing through any organic business process, rather that they are printing in response to market conditions, the author writes in summary. The authors recommendation? An audit showing that every Tether token is backed by a dollar. Theres just one problem: The auditor Tether hired for this purpose, a New Jersey firm called Friedman LLP, is no longer working with the crypto issuer. Quartz contacted Friedman for clarification but did not receive a response. Tether said last week (Jan. 27) that the relationship was dissolved when questioned by the industry news source CoinDesk . While the mystery around Tether deepens, a prolonged bear market might be a chance to clear things up. Read next: The murky relationship between the bitcoin price and tether tokens is raising suspicions Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: The SEC is stepping up its rhetoric over cryptocurrency regulation in Senate testimony tomorrow India has a new caste for native English speakers only
[Random Sample of Social Media Buzz (last 60 days)]
Current price of Bitcoin is $8631.00 https://greenground.it/2018/03/23/current-price-of-bitcoin-is-8631-00/ … || @firstdogonmoon
Thought you may appreciate this The Simpsons Bitcoin meme from Reddit
https://www.reddit.com/r/Bitcoin/comments/7v438b/the_last_3_months_in_47_seconds/ … || #Bitcoin -8.69%
Ultima: R$ 28901.00 Alta: R$ 29000.00 Baixa: R$ 28901.00
Fonte: Foxbit || REKT! Bitcoin Forks Lose Up To 99% Versus Highs, Bitcoin Holds At 69% http://dlvr.it/QFGySt pic.twitter.com/G6I5a21kVO || One of the biggest events in the #cryptocurrency space this year I feel. #ICO’s #Bitcoin & #Ethereumhttps://twitter.com/coindesk/status/960891269106098176 … || BTC/NGN:
LB - ₦2,482,755.09
BitSSA - ₦2,455,540.00
Luno - ₦2,611,701.00
Average - ₦2,516,665.36 || You can miss it or you can grab it with tow hands and make millions!
Bitcoin is here!
http://bit.ly/2fNkOg3
#investinbitcoin #Bitcoin || well, if people know about bitcoin cash, they would know about other coins as well, crypto is not only bitcoin and bitcoin cash || #BTC Average: 11033.96$
#Bitfinex - 11025.00$
#Poloniex - 11028.00$
#Bitstamp - 11011.99$
#Coinbase - 10995.00$
#Binance - 10993.61$
#CEXio - 11087.50$
#Kraken - 11009.50$
#Cryptopia - 11050.00$
#Bittrex - 11039.00$
#GateCoin - 11100.00$
#Bitcoin #Exchanges #Price || Bitcoin Bulls Need to Defend $7K as Corrective Rally Stalls http://dlvr.it/QNP80C pic.twitter.com/IucXFoupH3
|
Trend: up || Prices: 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Is Wright Wrong, Ethereum Block Reward Cut and Big Raises: 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 weeks edition ofThe CCN PodcastoniTunes,TuneIn,Stitcher,Google Play Music,Spotify,Soundcloud,Youtubeor whereveryou get your podcasts.
• Bitcoin is up 7.15%to $7,200 after fluctuating just below the $7,000 marklast Sundaybefore finally breaking it onTuesday. The pricesoared past $7,000to$7,100on Wednesday. The party didn’t last long with the party falling back down below the$7,000 mark the next day. The price found strong support at the$6,800 leveland was able torecoverto$7,200.
• Ethereum is up 7%to $292. The coin is still able to sustain breaking the crucial $300 price level and move with Bitcoin this week. The increase is encouraging after a5% decline last weekpreceded by drops of11% the week beforeand24% the week beforeand single and double-digit drops going back months.
• The Coin Market Cap is up 7% this weekwith most alt coins closely following Bitcoin and Ethereum closely. This is a bullish sign and is refreshing in a bear market.
• ‘Satoshi Vision’ Client, Mining Pool Released–Bitcoin Cash has gotten one step closer to splitting into multiple versions when the network undergoes a planned hard fork in November with the release of the new Satoshi Vision client today. Despite attempts to reconcile differences Wright has moved along with the BCHnode launchdespite mining poolsdisavoingthem andattacks from Vitalik.
• Ethereum Cuts Block Reward by a Third–EIP 1234, which proposes to delay the difficulty bomb for approximately one and a half years and to reduce the block rewards with the Constantinople fork has been approved.
• Largest Bitcoin Mining Pool Launches Ethereum Operation–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 hash rate, announced on Thursday that it has opened an Ethereum mining pool.
• EOS RAM Exploit Spreads– To reduce spam,EOSrequires users to purchase ascarce in-network resourcecalled “RAM” to deploy smart contracts and run decentralized applications (dApps). EOS has addressed the matter onMediumcalling it “vandalism” — rather than a bug.
• BoA VP: Patents Are ‘Meaningless’–Bank of America, which has filed for approximately 50 patents related toblockchain technology, has been called out for using patents for “press releases and public perception of innovation.”
• CBOE Close to Launching Ethereum Futures–Business Insiderreports that CBOE wants to become the first U.S. exchange to list anethereum futuresproduct, which would transform ether into more of a two-sided market by allowing professional traders to go both long and short on the second-largest cryptocurrency. Pricing data would again come from Winklevoss led exchangeGemini.
• Yahoo Launches Crypto Trading–Yahoo.com, thesixth most visited websiteboth globally and with the U.S, announced this week that it has partnered with financial API developer TradeIt to allow users to trade cryptocurrencies from within Yahoo Finance.
• Russian Finance Watchdog Building Crypto Tracking Tool–The Federal Financial Monitor Service, or Rosfinmonitoring, has reached a limited liability company to develop an analytical tool for tracking cryptocurrency transactions, BBC Russiareported.
• Bithumb Resumes User Registrations– Bithumb, South Korea’s second-biggest crypto exchange by daily trading volume behind UPbit, will officiallyresumeregistrations for new investors as early as this week.
• Dfinity Raises $102 Million–Dfinity token raised a $102 million round, led byA16Zand Polychain Capital to build a “world computer”. Dfinity, which was founded in 2015 and is headquartered in Switzerland’s “Crypto Valley,” wants to build a decentralized cloud computing network that can rival centralized platforms like Amazon Web Services (AWS), which have beenaccused of censorship, in part for booting apps that help users evade censorship.
• Crypto Startup Huboi Gains Majority in Public Firm– Crypto exchange giant Huobi has completed the purchase of majority shares of Hong Kong-based investment holding company, Patronics Holdings Limited (PHL). Data from theFinancial Timesreveal that the company’s stocks trades at a price of 3.08HKD as at the time of writing. This represents a price increase of 152.46 percent in the last one year.
Featured image from YouTube/BBC.
The postIs Wright Wrong, Ethereum Block Reward Cut and Big Raises: This Week in Cryptoappeared first onCCN. || Intuit Earnings: What to Watch: Financial software specialistIntuit(NASDAQ: INTU)reports fiscal 2018 fourth-quarter results later this month.
Expectations for the period are high. Setting the stage for an impressive finish to fiscal 2018, management gave its revenue guidance for the year a significant boost. And adding further pressure for a good fiscal fourth quarter is the fact that shares of Intuit have risen 54% in the past twelve months and 34% year to date, crushing the overall market's returns.
Given the company's strong momentum recently, investors will be looking for Intuit to cap off its fiscal year with more double-digit revenue growth, higher non-GAAP(generally accepted accounting principles) earnings per share, and growth in QuickBooks Online subscribers.
Can Intuit deliver?
QuickBooks Online. Image source: Intuit.
Intuit'sfiscal 2018 third-quarter resultswere solid all around, featuring a 15% year-over-year increase in revenue, a notable acceleration in the revenue growth rate of its consumer group segment, and sharp growth in QuickBooks Online subscribers.
[{"Metric": "Total revenue", "Year-Over-Year Growth": "15%"}, {"Metric": "Small business and self-employed revenue", "Year-Over-Year Growth": "16%"}, {"Metric": "Consumer revenue", "Year-Over-Year Growth": "15%"}, {"Metric": "QuickBooks Online subscribers", "Year-Over-Year Growth": "45%"}]
Data source: Intuit third-quarter earnings release for fiscal 2018.
Considering this momentum, management now expects full-fiscal year revenue to be between $5.915 billion to $5.935 billion, for year-over-year growth of 14% to 15%. Management was previously expecting full-year revenue growth to be between 9% and 11%.
For Intuit's fiscal fourth-quarter results, due to be released on Aug. 23, one key metric investors will want to look for in the update is Intuit's growth in "online ecosystem" revenue. This revenue -- from online business software and services like QuickBooks Online, payroll, and payments -- captures most of Intuit's fastest-growing products. In Intuit's fiscal third quarter, online ecosystem revenue growth was up 41% year over year, an acceleration from 39% growth in fiscal Q2.
While another quarter of accelerating growth for the metric is unlikely, it will be interesting if management can keep this growth around the levels of the previous two quarters. Management noted in the company's fiscal third-quarter earnings call that it continues to "expect online ecosystem revenue to grow better than 30%." But management's forecasts have proven to be conservative.
In addition, investors should look for more steep growth in QuickBooks Online subscribers. Management said it expects to finish the year with 3.350 million to 3.375 million QuickBooks Online subscribers, up 41% to 42% year over year.
For the fourth quarter, management guided for revenue between $940 million and $960 million, representing 12% to 14% growth year over year. In addition, management said it expects non-GAAP EPS for the period to be between $0.22 and $0.24, up from $0.20 in the year-ago quarter.
Intuit reports its fourth-quarter and full-year results for fiscal 2018 after market close on Thursday, Aug. 23.
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Daniel Sparkshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Intuit. The Motley Fool has adisclosure policy. || 3 Great Stocks for Low-Risk Investors: Investing is an inherently risky activity. It can take years for a bullish thesis to play out, and in that time, competitive dynamics can drastically change, or an industry could hit an unexpected downturn. Shareholders expose themselves to these -- and many more -- risks when they buy a stock in hopes of generating a positive return in the future. Some companies are less risky than others, though, whether it's by virtue of their dominant market positions, steady earnings streams, or valuable brands. Below, we'll look at a few of these low-maintenance stocks. A calm man smiling with his feet up. Image source: Getty Images. Procter & Gamble Procter & Gamble (NYSE: PG) is one of the leading companies in the consumer staples industry. The niche is called "staples" to differentiate it from more "discretionary" consumer categories, like entertainment and electronics, that tend to swing with shifting economic trends. In contrast, shopper demand for products like diapers, paper towels, and laundry detergent holds up well even through market disruptions. That fact helps explain why P&G has one of the stock market's longest-running dividend growth streaks, with more than 60 years of annual hikes under its belt. Yes, the stock has underperformed the market over the last few years as its growth rate stalled . But investors know that with a P&G purchase, they don't have to worry about collapsing sales or profitability. Instead, the maker of Tide detergent and Gillette razors is likely to continue pairing modest sales growth with market-thumping profitability. And those trends should support healthy, if underwhelming, returns over time. Costco The retailing industry is going through major changes right now as shoppers increasingly opt for home delivery over a trip to their local clothing store or supermarket. That shift is hurting the profitability outlook for many companies, who now have to spend heavily to compete in lower-margin e-commerce sales. Story continues Bulk-shopping giant Costco (NASDAQ: COST) , on the other hand, is having no trouble expanding. The retailer's same-store sales are up 7% over the last 48 weeks, while rivals like Walmart and Target are growing at closer to a 2% pace. Its profitability is holding steady , too, thanks to its rising subscription fee income, while peers are seeing their margins slip. Low-risk investors will love the fact that most of Costco's earnings come from its membership fees rather than volatile sales markups. And with more than 90% of its subscribers renewing each year, there's every reason to expect continued steady growth ahead. Berkshire Hathaway Berkshire Hathaway (NYSE: BRK-A) is a massive business that benefits from significant exposure to low-risk areas like utilities and consumer products. CEO Warren Buffett's biggest stock investments, meanwhile, include blue-chip companies such as Apple , Coca-Cola , and American Express . This operating setup, combined with Berkshire's massive cash hoard, tends to protect shareholders somewhat during market downturns. The stock saw its book value drop by 32% during 2008 when the broader stock market fell 37%. The long-term performance of the business is the bigger reason to like this stock, though. Since 1965, it has compounded returns at an annual gain of 21%, or a full 11 percentage points above the S&P 500. Of course, Berkshire is much larger today, so it isn't likely to outperform indexes by nearly that much going forward. Yet its diverse collection of profitable businesses should still deliver steady returns along with the occasional "wow" result. That's the type of outlook that can help a risk-averse investor sleep well at night. 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 Apple and Costco Wholesale. 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 recommends Costco Wholesale. The Motley Fool has a disclosure policy . || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/08/18: Bitcoin Cash slid by 6.33% on Friday, more than reversing Thursday’s 3.31% gain, to end the day at $569.9, with 4 losses in 5 leaving Bitcoin Cash down 19.7% for the week.
Thursday’s late pullback continued into Friday, with Bitcoin Cash on a downward trend through the most of the day, while steering clear of major support levels, before a late in the day sell-off saw Bitcoin Cash slide through the first major support level at $583.73 to an intraday low $555, testing the day’s second major support level at $558.87.
A late partial recovery was of little comfort, with the Bitcoin Cash striking a new swing lo, while leaving the day’s major resistance levels untested.
At the time of writing, Bitcoin Cash was down 2.51% to $555.8, with Bitcoin Cash falling from a start of a day morning high $571.1 to a morning low and new swing lo $555 before steadying, the continuation from Friday’s sell-off testing the more resilient crypto investor.
For the day ahead, a move through to $579 would support a run at $600 levels to bring the first major resistance level at $602.93 into play, though for Bitcoin Cash to recover the morning’s losses, holding on to $550 levels will be key.
Failure to recover from the early losses through the morning could see Bitcoin Cash take another tumble later in the day, with a fall through to sub-$550 levels bringing the day’s first major support level at $545.93 into play.
How low Bitcoin Cash goes will be dependent upon the broader market, though we would expect Bitcoin to steer clear of the second major support level at $521.97.
Get Into Bitcoin Cash Trading Today
Litecoin fell by 6.25% on Friday, reversing Thursday’s 1.48% gain with interest, to end the day at $59.14. Four days in the red out of five left Litecoin down 20.8% for the week and at sub-$60 for the first time since last November.
Following the broader market, Litecoin moved in reverse through most of the day, whilst managing to steer clear of sub-$60 levels and the day’s first major support level until a late in the day sell-off saw Litecoin slide through the first major support level at $60.59 to an intraday low and new swing lo $58.1.
A start of the day $63.36 high came up short of the first major resistance level at $65.48, with the bearish trend firmly intact.
At the time of writing, Litecoin was down 2.72% to $57.53, Litecoin falling through the first major support level at $57.04 to an early morning low and new swing lo $56.5.
For the day ahead, a move back through a morning high $59.19 would support a run through to $60 levels to bring the first major resistance level at $62.3 into play, though Litecoin will likely face plenty of resistance at $60, with $62 levels likely to be a step too far.
Failure to move back through the morning high could see Litecoin pullback through the first major support level at $57.04 to bring the second major support level at $54.94 into play, the bears now eyeing sub-$50 levels.
Buy & Sell Cryptocurrency Instantly
Ripple’s XRP fell by 7.22% on Friday, more than reversing Thursday’s 3.95% gain, to end the day at $0.31922, with heavy losses through the week leaving Ripple’s XRP down $26.6% to the end of Friday.
A relatively range bound morning saw Ripple’s XRP steer clear of the day’s first major support level at $0.3278, with a late afternoon broad based market sell-off doing the damage, Ripple’s XRP sliding through the first major support level at $0.3278 and second major support level at $0.3115 to an intraday low and new swing lo $0.31072.
The moves through the day reaffirmed the extended bearish trend formed back at late April’s swing hi $0.97181, with the crypto bulls facing a stern test in the late summer.
At the time of writing, Ripple’s XRP was down 4.22% to $0.30479, with Ripple’s XRP sliding to an early morning low and new swing lo $0.30059, calling on support at the first major support level at $0.3040.
For the day ahead, a move back through to $0.32 levels would support a run at the first major support level at $0.3413, though we can expect Ripple’s XRP to face plenty of resistance at $0.32 and on any run at $0.33 levels.
Failure to recover from the morning losses to $0.32 levels could see Ripple’s XRP take an even bigger hit later in the day, with sub-$0.30 levels now firmly in play, though we will expect Ripple’s XRP to steer clear of the second major support level at $0.2887.
Buy & Sell Cryptocurrency Instantly
Thisarticlewas originally posted on FX Empire
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• GBP/JPY Weekly Price Forecast – British pound struggles again during the week || EUR/USD Price Forecast – Euro continues to suffer at the hands of Turkey: The EUR/USD pairhas been somewhat noisy during the trading session on Tuesday, as we continue to see the markets worry about the Turkish situation. Because of this, I think it’s only a matter of time before we need to make some type of move, and headline from Ankara could be the catalyst. If not, maybe it’ll be from the United States, as this situation does seem to be getting any better. This has people worried about the European Union in general, and it has weighed upon the Euro over the last couple of weeks.
Now that we are below the 1.15 handle, it’s likely that we will continue to go lower eventually, at least from a technical analysis standpoint. I anticipate that we could probably move is low as 1.13, but some of my contemporaries or even calling for as low as 1.05 over the longer-term. Obviously, the US dollar continues to be the strongest currencies in the world, and by market mechanics a loan, that will probably continue to weigh upon the Euro. If we did recapture the 1.15 handle, if we can break above that level and close above there I daily chart, that could change things. Until then though, I’d be suspicious of rallies and be looking for exhaustion to continue to sell as that trait has worked out so nicely. Expect volatility, keep your position size small, and recognize that this is an extremely erratic market currently.
Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Rapid Turnaround in Euro May Save Gold from Plunging to $1184.00 || Bitcoin Exchange CoinJar Launches Australia’s First Cryptocurrency Index Fund: Australian bitcoin exchange CoinJar has launched the country’s first cryptocurrency index fund available to wholesale investors.
Announced on Thursday, theCoinJar Digital Currency Fundprovides a convenient way for wealthy Australian investors to obtain exposure to cryptocurrencies while offloading the custodial responsibility to another entity.
The Digital Currency Fund has two classes. The first, Bitcoin Class, exclusively provides investors with exposure to bitcoin (BTC). The second, Mixed Class, tracks the market cap-weighted price movements of four of the six largest cryptocurrencies: bitcoin, ethereum (ETH), ripple (XRP), and litecoin (LTC).
“Investing in cryptocurrency carries certain risks and can be an unnecessarily complex process. Traditionally, an individual investor in cryptocurrency has also been exposed to potential loss through cybercrime. We are launching the CoinJar Digital Currency Fund to handle the custody risks, simplify the investment process and provide industry best practice in security for wholesale investors,” said Jordan Michaelides, head of institutional at CoinJar.
The fund is currently restricted to wholesale investors, that is, high net worth investors who have obtained an accountant’s certification that they have net assets of at least AUD$2.5 million or a gross income of AUD$250,000 for each of the last two years. This classification is roughly equivalent to the accredited investor certification that U.S. buyers must attain before they can invest in cryptocurrency funds and many initial coin offerings (ICOs).
First-time investors must contribute a minimum of $50,000 to the fund, while current investors can make subsequent investments in increments of at least $10,000. The fund carries an annual management fee of 1.3 percent of Bitcoin Class and 1.8 percent for Mixed Class.
Though the first cryptocurrency fund available to Australian investors, the CoinJar Digital Currency fund joins a growing list of investment products that present cryptoassets in wrappers familiar — and perhaps more palatable — to sophisticated investors.
The New York-based Grayscale was the leader in this space, launching theBitcoin Investment Trust(OTC: GBTC) in 2013 and a variety of other investment funds since. Two of these, GBTC and the Ethereum Classic Investment Trust (OTC: ETCG) can now bepurchased by retail investorson the secondary market.
The industry has also developed aburgeoning cryptocurrency derivatives market, with products such as futures, options, and swaps available on both established stock exchanges (CME and CBOE) and upstart trading platforms (LedgerX, Crypto Facilities, among others). Earlier this month, two institutional investors completed thefirst exchange for physical(EFP) involving BTC when they swapped a position in a bitcoin futures contract for an equivalent amount of the physical asset itself.
Images from Shutterstock
The postBitcoin Exchange CoinJar Launches Australia’s First Cryptocurrency Index Fundappeared first onCCN. || RIOT Blockchain Stock Is a Disaster Waiting to Happen: I’ve never understood the appeal of RIOT Blockchain (NASDAQ: RIOT ). RIOT Blockchain stock appears as if it is built on hope rather than anything practical. Oh, I understand blockchain. It holds enormous potential for good. Encrypting a general ledger database can make tracking assets and trading cheaper. I also understand the problems with blockchain. Decrypting technology, in the hands of bad guys, can wreak havoc. Custodial control, version control, these are serious problems. It’s a game for serious technologists, working alongside financial and security experts. InvestorPlace - Stock Market News, Stock Advice & Trading Tips RIOT Blockchain stock addresses none of those things. A year ago RIOT Blockchain was called was Bioptix . It was a company that was making diagnostic equipment for the medical industry. Then, last October, they renamed themselves and the stock took off, from about $5 per share in early October to a high of $38.60 in December, before cooler heads prevailed. The shares are still around, and open for trade recently at around $7 each. This gives the company a market cap of almost $95 million. What They’re Doing The biotech has been scrubbed from RIOT’s web site and what’s left is a company that seems to have put cash into three other companies that are going nowhere fast. What they want you to know is they’re now a Bitcoin mining operation . In May, for instance, they found the equivalent of 122 new Bitcoin. At the end of the month this was worth about $878,000. A month later this haul was worth $724,000. 8 Large-Cap Stocks to Sell Before Their Meltdowns Are Complete To read the Bitcoin press, of course, Bitcoin is almost always rising, and about to break out . You’ve got to have it, the bulls insist. Those dollars you hold are a scam. Look at what just happened to the Turkish Lira . The truth is quite different. As this was written Bitcoin was trading at just under $6,500. This compares to nearly $20,000 at the start of the year and (to be fair) just $4,186 a year ago. During the year there have been sporadic rallies (one in late July took it over $8,000 } but generally the trend is down, because what can you do with it? Story continues Which brings us back to RIOT Blockchain stock. RIOT has invested in Coinsquare, a Canadian cryptocurrency exchange currently worth $8.65 million , according to Coinmarketcap. It launched Tess, which said it was a blockchain supply chain outfit, and it owned 52% of it, before selling in December for 80 million shares of Cresval Capital, a Canadian mining company, which sounds great. Cresval stock is currently worth half a Canadian cent per share, making the stake worth about $3 million. Then there’s Verady, which says it’s a Bitcoin auditor located about five miles from my office in Midtown Atlanta. They launched their platform, Veranet, last October and have since produced a notable string of press releases, including one on RIOT’s investment, in December . The Bottom Line on RIOT Blockchain Stock RIOT Blockchain does not have enough assets to justify its market cap. It doesn’t make money. It isn’t likely to. The only reason anyone buys the stock is to speculate on Bitcoin without buying Bitcoin. It got a boost during the last Bitcoin run-up in July, and it’s attracting some attention during the current crisis over the Turkish Lira. If I were a Turk with Lira, I would be seriously considering buying some Bitcoin and perhaps taking a long business trip to Europe. But I would then be turning that Bitcoin into a stable currency, like the U.S. dollar or Euro. I wouldn’t be turning it into stock in a flailing Colorado-based Bitcoin miner with some dodgy investments. Dana Blankenhorn is a financial and technology journalist. He is the author of a mystery novella involving Bitcoin, The Reluctant Detective Saves the World , available now at the Amazon Kindle store. Write him at [email protected] or follow him on Twitter at @danablankenhorn . As of this writing he owned no shares in companies mentioned in this story, and no cryptocurrency. To follow the value of cryptocurrencies bookmark https://coinmarketcap.com/ More From InvestorPlace 7 Esports Stocks to Watch as Gaming Goes Mainstream 8 Large-Cap Stocks to Sell Before Their Meltdowns Are Complete 7 Momentum Stocks That Will Power Through 2018 5 Retail Earnings Charts Everyone Will be Talking About this Week Compare Brokers The post RIOT Blockchain Stock Is a Disaster Waiting to Happen appeared first on InvestorPlace . || Bitcoin Magazines Week in Review: Rejections and Reflections: Week in Review 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 of Bitcoin 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 . The Latest in Regulation 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 down all of the ETFs in question. But these decisions, the SEC revealed the 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 members this 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 officials shuttered access to over 120 offshore exchanges this week, an extreme measure to accompany the comprehensive ban it effected on domestic ICOs in September 2017. Story continues Meanwhile in the private sector, WeChat is assisting the government with its crackdown. The number one messaging platform in China purged crypto and blockchain media accounts from its services this week, citing the governments policies toward ICOs as justification for the bans. News from the Bitcoin Mining Industry 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 behemoths 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 week to deny their involvement . In a feature article , Bitcoin Magazines 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 Norways 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. Its a reminder that, with the right infrastructure and a tinge of creativity, bitcoin mining can be more sustainable than its critics suggest. Rehashing Old Arguments and Looking Ahead 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 networks inaugural year. New evidence from 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 Zhong reminds us of 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 on Bitcoin Magazine . || Huobi Eyes Japan Expansion With Acquisition of Licensed Crypto Exchange: Huobi Group is to expand its trading services to Japan via an imminent deal to purchase local licensed cryptocurrency exchange BitTrade.
In an announcement on Wednesday, Huobi said its wholly owned subsidiary Huobi Japan Holding Ltd has inked an agreement with Eric Cheng, the sole owner of BitTrade, to acquire a majority stake in the firm.
BitTrade is currently one of 16 licensed exchanges in Japan and also a member of the Japanese Virtual Currency Exchange Association.
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Huobi declined to disclose the dollar amount of the acquisition and its exact ownership stake in BitTrade when asked by CoinDesk.
A previousannouncementindicated that, as recently as June, Cheng had bought 100 percent of a licensed forex trading firm, FX Trade Financial, of which BitTrade is an affiliate, for $50 million.
Huobi's chief financial officer, Chris Lee, commented on the acquisition:
"Leveraging on BitTrade's leadership team and its Japanese government-approved license, this is just the beginning as we look to grow BitTrade into the most dominant player in the Japanese cryptocurrency market."
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The deal comes after, in 2017, Japanese financial giant SBI Holdingsscrappeda partnership with Huobi that would have allowed the latter to take a stake in SBI's recentlylaunchedVCTRADE crypto exchange. The banking giant said at the time it preferred to use in-house resources to build a security system following the Coincheck hack in January.
The acquisition of a licensed exchange also follows Huobi'srecent effortto buy over 60 percent of a public company listed in Hong Kong with $70 million in a move that paves the way for a possible back-door listing for the crypto exchange.
Japan walk signalimage via Shutterstock
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• Paxos Unveils Dollar-Backed Stablecoin Approved by New York Regulator || Bitcoin (BTC): The Real Purpose of Cryptocurrency: For many people, the purpose of cryptocurrencies, like Bitcoin (BTC), has always been a mystery.
There is no such thing as a Bitcoin “coin”. It is shown as a coin because that’s a useful analogy. But it’s an encryption key, one of roughly 21 million answers to an intricate computer puzzle, that can only exist on a computer supporting the currency’s blockchain.
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What can you do with it? You can buy an Initial Coin Offering (ICO), butmost ICOs fail. The joke is you can buy pizza with it. The “Bitcoin Pizza,” bought with 10,000 coins in 2010, is now worthover $82 million.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It was once assumed you could run away from the law with it, but that’s no longer true, aslaw enforcement has learnedhow to break the currency’s supposed anonymity.
The best use of Bitcoin is fleeing a failing economy.
Zimbabwe showed us the way. As that country’s currencycollapsed last yearpeople turned to Bitcoin. It worked, not only for those trading the currency, but for the country. Dictator Robert Mugabe wasoverthrownby his own military.
Recent action in Bitcoin shows you don’t have to be a failed stateto make use of it.
Consider the Russian Ruble. Its value plummeted early in April, falling from 58 to the dollar to over 64 to the dollarin a single day.This coincides withthe latest spike in Bitcoin, from below $6,900 per coin to its April 19 price of over $8,200.
Bitcoin bulls areall a-flutterover this. One quickly predicted the pricecould hit $20,000by the end of the year.
But coins, real and imagined, aren’t the only stores of value. Oil is also a store of value.Oil bulls are now predictinga price of $100 per barrel. Unfortunately, a Russian oligarch can’t just leave the country with barrels of the gooey burnable under his arms. It would be messy. What has happened, instead, is that the price of the ruble has stabilized and so (coincidentally) has Bitcoin.
Russian President Putin’s policy is to encourage the war of all vs. all. In an environment torn by civil and international strife, Russia’s military and relative stability loom larger than its economy would allow it to, given a Gross Domestic Product expected to be almost$250 billion short of Canada’sthis year.
But assets already live in this world. All assets — oil, currency, stocks, Bitcoin — are in constant competition with one another, and can be compared. It’s a check against the actions of every CEO, and every President. Bitcoin, because it’s invisible, makes this check on power easy to place.
Two economists recently got drunk together and calculated the “real” value of a Bitcoin at$200.
That’s not true. A Bitcoin is worth what someone will pay for it, just as anything is worth only what someone will pay for it. There are often “Bitcoin premiums” when a country’s traders can’t easily meet demand. This happened last year in Zimbabwe and (curiously enough) South Korea.
We make these value calculations with currencies all the time, and oil, and stocks. Computers make it easy. In the asset war of all vs. all, Bitcoin is just another player. Its key advantage is its invisibility.
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The current value of all the Bitcoin in the world as of July 23 was about $132 billion. That sounds like a lot. ButNetflix Inc.(NASDAQ:NFLX) is worth $155 billion.
I’d rather have Netflix.
[Editor’s note: This story was originally published April 20, 2018.]
Dana Blankenhornis a financial and technology journalist. He is the author of a mystery novella involving Bitcoin,The Reluctant Detective Saves the World,available now at the Amazon Kindle store. Write him [email protected] follow him on Twitter at@danablankenhorn. As of this writing he owned no shares in companies mentioned in this story, nor any cryptocurrency. To follow the value of cryptocurrencies bookmarkhttps://coinmarketcap.com.
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The postBitcoin (BTC): The Real Purpose of Cryptocurrencyappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
$BTC Update
This aged like a fine wine.
That someone took a shit in.
Range low decisively broken. It’s been a bloody rollercoaster.
Daily needs to close above 7800, otherwise it’s a bearish break in market structure.
Chart closer to Daily close. https://twitter.com/CryptoCred/status/1024048506036805633 … || @Bitcoin_price_8 || @lifeoncoin || @Bitcoin_Post || @lifeoncoin || @PriyamvadaGopal I am not a bitcoin millionaire
[ patiently waits for le societool strookshoors to deliver a million bitcoins to 1J166Gc1w2TmiMjRWv3ygPuPFXx248csWT ]
🤡
https://t.co/nGNkiKok7J || @btc_update || @lifeoncoin || @bitcoin_reddit || @BTC_INFOCHAIN
|
Trend: down || Prices: 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
10 things you need to know before the opening bell: (Chinese Go player Ke Jie during his second match against Google's artificial-intelligence program AlphaGo at the Future of Go Summit in Wuzhen, in China’s Zhejiang province.Reuters/China Stringer Network)
Here is what you need to know.
Trump reportedly slammed German carmakers and threatened to stop their US sales.During a meeting with European officials, President Donald Trump said he would stop German automakers from selling "millions of cars" in the US and called Germans "very bad," Der Spiegel reports.
The polls are tightening in the UK election.A YouGov poll published Thursday showed Prime Minister Theresa May's Conservative Party holding a 43%-to-38% lead over Jeremy Corbyn's Labour Party ahead of the June 8 election. The British pound is weaker by 0.5% at 1.2872 versus the dollar.
Consumer prices in Japan are picking up.Prices rose by 0.4% year-over-year in March, making for the fastest growth since March 2015.
Bitcoin is making a comeback.The cryptocurrency trades up by 4.5% at $2,577 a coin after falling to as low as $2,220 on Thursday.
Costco same-store sales crush estimates.Sales at stores open at least one year rose by 5% excluding the impact of gasoline prices and foreign exchange, easily beating the 3.7% gain that was expected.
GameStop's sales increased for the first time in 5 quarters.The world's largest video game retailer said sales rose by 21.5% in the first quarter, boosted by strong demand for the Nintendo Switch. But the GameStop shares fell by as much as 6% after the company left its guidance unchanged.
Stock markets around the world are lower.Japan's Nikkei (-0.6%) lagged in Asia, and France's CAC (-0.8%) paces the losses in Europe. The S&P 500 is set to open little changed near 2,414.
Earnings reporting is light.Big Lots reports ahead of the opening bell.
US economic data is heavy.GDP Second Estimate, core PCE, and durable-goods orders will all be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down by 2 basis points at 2.24%.
US markets are closed Monday in observance of Memorial Day.Additionally, the US Treasury market will close at 2 p.m. ET on Friday.
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• 10 things you need to know today || Barclays has spoken to regulators about bringing bitcoin 'into play': Barclays(London Stock Exchange: BARC-GB)has been in discussions with regulators and financial technology – or fintech – firms about bringing cryptocurrencies like bitcoin "into play", the bank's U.K. chief executive told CNBC on Monday.
Ashok Vaswani revealed that the banking giant has met with Britain's Financial Conduct Authority (FCA) watchdog to talk about how to make bitcoin safe in response to a question about whether Barclays could support bitcoin.
"We have been talking to a couple of fintechs and have actually gone with the fintechs to the FCA to talk about how we could bring, the equivalent of bitcoin, not necessarily bitcoin, but cryptocurrencies into play," Vaswani told CNBC at the Money 20/20 fintech conference in Copenhagen, Denmark.
"Obviously (it's) a new area, obviously an area we've got to be careful with. We are working our way through it."
Vaswani did not expand on to what extent Barclays could be involved with bitcoin. Barclays has recently been involved in the digital currency space. Last year the bank partnered with social payments app Circle. The start-up, which received a license from the FCA last year, allows users to send money to each other in messages, and supports bitcoin. Barclays provided Circle with an account to store sterling, as well as the payments network to transfer money.
Banks have typically been very cautious of being associated with any companies involved with bitcoin due to the cryptocurrencies bad reputation as being used to buy illegal items on the so-called "dark web".
But the world's largest cryptocurrency by market cap has seen rising retail investor interest, as well as a major rally since the start of the year that has seen its price hit record highs. Even though the price has pulled back in recent days and there is still volatility, regulators are becoming interested in bitcoin, which is lending legitimacy to the digital currency.
For example, Japan made it legal for merchants to begin accepting bitcoin as payments and Russia is also looking at ways to regulate it. The FCA in the U.K. has been cautious on bitcoin, however.
Chris Woolard, the FCA's executive director of strategy, said that there needs to caution from institutions dealing with bitcoin.
"We don't prohibit regulated firms from engaging in digital currency trading, nor do we prohibit banks from offering banking services to deal with currency firms that use [blockchain]. I am not saying that we view digital currencies as an inherently bad thing… but we do have to exercise a degree of caution," Woolard said at a recent event, according to website Financial News.
While bitcoin has garnered plenty of interest recently, the banking industry is focused on using the technology that underpins it called blockchain. This is a distributed public ledger of activity on the bitcoin network. Banks see blockchain-like technology being applied to areas of their businesses from trading to money transfers. The promise is cost savings and faster processes.
Barclays and a number of other banks have been trialing different use cases for blockchain technology. Last year, the U.K. banktested derivative tradingusing blockchain technology. Still, the industry admits it is early days and more work needs to be done to integrate this into everyday processes in banks.
"(We're) working on it, (it's) not ready for prime time, we'll get there soon," Vaswani told CNBC.
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• Bitcoin start-up Blockchain raises $40 million from Google, Richard Branson || Why I Won’t Go Near Ford Motor Company (F) Stock: InvestorPlace - Stock Market News, Stock Advice & Trading Tips I’ve never owned stock in Ford Motor Company (NYSE: F ), or any auto manufacturer, because they are too sensitive to economic changes. Now there are other crosscurrents as well, and I’m even less likely to own F stock, or General Motors Company (NYSE: GM ) for that matter. There’s far too much risk in these auto stocks. Why I Won’t Go Near Ford Motor Company (F) Stock Source: Shutterstock For starters, Ford has a new CEO. He’s shown success as a turnaround artist, whether it be in a furniture company or the University of Michigan’s football program. Still, the new CEO is coming into a difficult situation. April’s sales numbers for Ford were lousy. Retail sales fell 10.5% and fleet sales went nowhere year-over-year. Truck sales have long been the real moneymakers for F stock, and May sales grew 9.4%, but that was on the tail of a 4.2% decline in April. A volatile sales pattern doesn’t inspire confidence. That pattern was also evident in fleet sales, which grew 8.4% in May after that flat April. Still, car sales are a mess, falling 21% in April and 10% in May. 7 ETFs That Can Make You Love Retirement Still, when you look at the broader auto market , sales are falling. YoY, car sales, minivan and small vans are sick as dogs. Car sales fell 11% YoY in May, small vans fell 22% and minivans fell 13.6%. This was inevitable, as car sales cratered in the financial crisis , hitting about 9 million sales in 2009, and had since doubled. There’s another problem that’s been developing for some time, and we have to wait and see how it plays out. The NY Federal Reserve reported May consumer household debt, and the data is disturbing . On page 8 of the report, you can see that the doubling in autos sales was driven by debt. Originations across all credit scores increased dramatically since the financial crisis. Auto loan balances increased by $10 billion, continuing a six-year trend. Story continues On page 12, we can see auto loan delinquencies have started to tick upward, and 30-day-plus transition into delinquencies has been on the rise for some time. The transition into serious delinquencies (90 days plus overdue) has been rising at an even higher rate. Why is the debt issue of concern? As mentioned, it suggests that people are chewing on debt in order to buy cars. So if they cannot meet debt service, or discover that the price they paid for their car is more than what the market is signaling, they may walk away from the loan and the car to buy a cheaper vehicle. That means F stock, which partially depends on its finance business, could see a wave of defaults. But there’s one other wrinkle here, and that’s ride-sharing. As more and more people start using carpool services, that means fewer total miles get put on cars, which reduces demand for all cars, especially used cars. The problem with defaults is that the loss of principal on just one loan wipes out all the income from interest from many loans. That’s why even a few basis points can crater a company that depends on loans. Why might that happen? Look at what J.D. Power Valuation Services says about used car vehicle prices. They have fallen about 12% off their high. This is like an earthquake causing a massive crack in a home’s foundation. Click to Enlarge If used car pricing falls, then new car owners look at “like new” used cars and are more likely to buy from that segment of the market, suppressing new car purchases. That includes trucks. As it is, F stock has suffered as international operations have been flailing. Then used car sales continue to drop per ride-sharing, and the bottom falls out of that market. Tesla Inc (TSLA) Stock Will Make You a Crash Test Dummy I have no idea if all of this will come to pass, but the point is that significant risk exists in F stock, GM stock and the auto market in general. I’m staying away. Lawrence Meyers is the CEO of PDL Capital, a specialty lender focusing on consumer finance. As of this writing, he does not own any stocks mentioned. He has 22 years’ experience in the stock market, and has written more than 1,600 articles on investing. He also is the Manager of the forthcoming Liberty Portfolio. Lawrence Meyers can be reached at [email protected] . More From InvestorPlace The 7 Best Dividend Stocks to Buy for Q3 and Beyond This Is Why Starbucks Corporation (SBUX) Stock Is Just Getting Started 3 Stocks to Buy to Leverage the Bitcoin Craze The post Why I Won’t Go Near Ford Motor Company (F) Stock appeared first on InvestorPlace . || Government under pressure after NHS crippled in global cyber attack as weekend of chaos looms: Screenshot of the suspected ransomware message on a GP's computer in the Greater Preston area - PA Hospitals across the country hit badly by attack Nearly 100 countries affected Fears of chaos over weekend Edward Snowden blames NSA for attack Cyber attack hits German train stations as hackers target Deutsche Bahn Russian-linked cyber gang Shadow Brokers blamed Everything you need to know about global attack NHS bosses and the government are facing questions over why hospitals had been left vulnerable to the global cyber attack that crippled services on Friday. The health service faces a weekend of chaos after hackers demanding a ransom infiltrated the health service’s antiquated computer system. Operations and appointments were cancelled and ambulances diverted as up to 40 hospital trusts became infected by a “ransomware” attack demanding payment to regain access to vital medical records. Doctors warned that the infiltration – the largest cyber attack in NHS history – could cost lives. Medics described how computer screens were “wiped out one by one” by the attack, which spread to companies and institutions worldwide, including international shipper FedEx Corp in the US, and Germany's rail operator . 'Biggest ransomware attack in history' Researchers with security software maker Avast said they had observed 57,000 infections in 99 countries with Russia, Ukraine and Taiwan the top targets. Mikko Hypponen, chief research officer at the Helsinki-based cybersecurity company F-Secure, called the attack "the biggest ransomware outbreak in history". The NHS said there was no evidence that patients’ medical records had been accessed, but it was unable to say whether the hackers – who are threatening to delete information unless payment is received within a week – had the ability to destroy such records. Experts at GCHQ’s national cyber security centre were helping NHS teams fight the attack. The US Department of Homeland Security said late on Friday that it was aware of reports of the ransomware, was sharing information with domestic and foreign partners and was ready to lend technical support. Story continues The ransomware attack has affected people and businesses across the world Credit: Malware Tec The attack has been declared a major incident, and has spread to Scotland, where crisis meetings were also being held last night. A computer hacking group known as Shadow Brokers was at least partly responsible. It is claimed the group, which has links to Russia, stole US National Security Agency cyber tools designed to access Microsoft Windows systems, then dumped the technology on a publicly-accessible website where online criminals could access it – possibly in retaliation for America’s attack on Syria. Questions over NHS vulnerability Microsoft had provided free software to protect computers in March, raising questions about why the NHS was still vulnerable. Last night the technology giant said it was pushing out automatic Windows updates to defend clients from WannaCry. Cyber experts said the health service appeared susceptible to attack because many trusts were using obsolete systems, while others have failed to apply recent security updates which would have protected them. This week it was suggested that 90 per cent of NHS trusts in the UK were using Windows XP – a 16-year-old operating system. Security experts said that computers using operating software introduced before 2007 were particularly vulnerable, leaving many NHS systems at risk. About | Ransomware Others, using newer systems, may have failed to apply recent security updates, which would have protected them, experts said. Shadow health secretary Jonathan Ashworth said the attack was "terrible news and a real worry for patients" and urged the Government to be "clear about what's happened". Ross Anderson, professor of security engineering at Cambridge University's computer lab, said the incident is the "sort of thing for which the secretary of state should get roasted in Parliament. "If large numbers of NHS organisations failed to act on a critical notice from Microsoft two months ago, then whose fault is that?" Mr Anderson told The Guardian. May: 'This was international attack' The hack is thought to be part of a wider attack, which has affected the Spanish telecoms giant Telefonica, which also owns 02, where the same message was presented. The ransomware attack was orchestrated using malware called Wanna Decryptor, also known as WannaCry, which demands each user affected pay $300 (£232) in the internet currency Bitcoin, to have files restored. Thousands of NHS computers have been affected so the ransom could potentially cost taxpayers millions. The attack was described by Theresa May as “intentional”. The Prime Minister said: “We are aware that a number of NHS organisations have reported that they have suffered from a ransomware attack. This is not targeted at the NHS, it’s an international attack and a number of countries and organisations have been affected. “The National Cyber Security Centre is working closely with NHS digital to ensure that they support the organisations concerned and that they protect patient safety. And, we are not aware of any evidence that patient data has been compromised.” Intelligence sources said the attack appeared to have been carried out by criminals rather than a hostile state and the ransomware had rapidly spread through companies and organisations in Europe and the Middle East. Russia’s interior ministry said last night it had come under cyber attack. Patients have operations cancelled In the UK the only affected organisation appeared to be the NHS. Patients awaiting heart surgery were among those who had operations cancelled, with doctors telling how staff were frantically ordering computers to be shut down. New parents were left stuck on wards with their newborns as administrative systems failed. Doctors at dozens of trusts resorted to pen and paper, with no access to medical records that could alert them to medical histories or allergies. Handwritten signs in the entrance of the Royal London’s A&E read: “The emergency department has no IT facilities, there are significant delays occurring.” At a glance | High profile hacks NHS trusts are supposed to regularly back up their files. But yesterday doctors and nurses were left treating patients without any access to their medical histories, with lost access to X-rays, blood tests and details such as allergies to medication. It raises the possibility that recent changes to medical records – such as a cancer diagnosis, or the results of a blood test – could be lost, if hackers delete the files. Hacking tool stolen from NSA The mysterious Shadow Brokers claimed last month it had stolen a “cyber weapon” from the NSA that gives unprecedented access to all computers using Microsoft Windows. The hacking tool had been developed by the NSA, to gain access to computers used by terrorists and enemy states. A screen shot circulated by medical staff showed that users were alerted to their system being compromised by a flashing warning on screen which reads: “What happened to my computer?” and states that many documents, photos, videos and databases and other files are no longer accessible. Warning “nobody can recover your files without our decryption service” it then demands payments of $300 – stating that the price will be doubled in three days. An NHS spokesman said: “At this stage we do not have any evidence that patient data has been accessed.” Colchester A&E was among several yesterday urging the public to stay away, unless in the most severe need tweeting: “Our A&E is open for critical or life-threatening situations requiring medical attention, such as loss of consciousness, heavy blood loss.” A 'miracle if no one comes to harm' At Lister Hospital in Stevenage, the telephone and computer system was fully disabled in an attempt to fend off the attack, with all non-urgent appointments and operations cancelled and patients told to keep away from A&E if at all possible. The loss of computer systems meant doctors and nurses lost access to X-rays, blood test results and booking systems, rendering a normal day’s work impossible. A worker at Colchester General Hospital described how her office’s computers were “wiped out, one by one”. Dominic Marley, a hospital doctor in the Manchester area, said it would be a “miracle if no one comes to harm”. Barts Health NHS Trust, which runs The Royal London, St Bartholomew’s, Whipps Cross and Newham hospitals in London, said it had implemented its major incident plan to cope with disruption. Anthony Brett was about to have a stent put in his liver to treat his cancer when he was told the procedure could not happen. The 50-year-old from Bow, east London, said: “To do it to the NHS that does so much good for people, it’s just disgusting. They should be hung, drawn and quartered.” 6:39AM Taiwan on alert Taiwan has been put on high alert after it was reportedly one of the top targets of the cyber attack that rocked the world on Friday, writes Nicola Smith . While government departments and hospital systems had so far been spared the chaos that struck Britain's NHS, there were fears the full impact of the attack may only emerge after the weekend. Ross Feingold, a Taiwan-based political analyst who advises on Taiwan and Hong Kong political affairs, warned that full picture may not be known until Monday morning when officials returned to work. Read the full article here . Taiwan is among the world’s biggest targets for ransomware attacks Credit: EPA 4:44AM Teams 'working round the clock' Ciaran Martin, the body's chief executive, said teams were "working round the clock" with UK and international partners and with private sector experts to lead the response. "We are very aware that attacks on critical services such as the NHS have a massive impact on individuals and their families, and we are doing everything in our power to help them restore these vital services." The attack has left hospitals and GP surgeries with a backlog of postponed appointments to contend with, including operations, once the crisis is brought under control. 3:58AM 'They will try again' The attack was apparently halted in the afternoon in the UK when a researcher took control of an Internet domain that acted as a kill switch for the worm's propagation, according to Ars Technica. The researcher, who uses the Twitter name @MalwareTechBlog, said: "I will confess that I was unaware registering the domain would stop the malware until after I registered it, so initially it was accidental. So long as the domain isn't revoked, this particular strain will no longer cause harm, but patch your systems ASAP as they will try again." It's very important everyone understands that all they need to do is change some code and start again. Patch your systems now! https://t.co/L4GIPLGKEs — MalwareTech (@MalwareTechBlog) May 13, 2017 Read the full article here. 2:47AM US offers help to tackle crisis The US Department of Homeland Security has said it is aware of reports of the ransomware. It says it is sharing information with domestic and foreign partners and was ready to lend technical support. The global cyber attack renewed concerns about whether the NSA and other countries' intelligence services too often hoard software vulnerabilities for offensive purposes, rather than quickly alerting technology companies to such flaws. Patrick Toomey, a staff attorney with the American Civil Liberties Union, said in a statement: "These attacks underscore the fact that vulnerabilities will be exploited not just by our security agencies, but by hackers and criminals around the world." If NSA builds a weapon to attack Windows XP—which Microsoft refuses to patches—and it falls into enemy hands, should NSA write a patch? https://t.co/TUTtmc2aU9 — Edward Snowden (@Snowden) May 12, 2017 12:51AM Is this how the spread of the virus was halted? God damn. Looks like @MalwareTechBlog stopped the spread of this global ransomware attack https://t.co/pgDiTS9oTR pic.twitter.com/YyFKt7cQwy — Joseph Cox (@josephfcox) May 12, 2017 12:03AM Germany's Deutsche Bahn railways 'affected by virus' Germany's main train operator Deutsche Bahn was attacked by ransomware based on leaked NSA tools. pic.twitter.com/hP66QZT1cQ — Pamela Moore (@Pamela_Moore13) May 12, 2017 11:32PM Chief Executive of NHS Providers speaks out on cyber attack Chris Hopson, Chief Executive of NHS Providers, says trusts are working to limit the impact of the cyber attack: 11:21PM Edward Snowden: Are any other vulnerabilities in software? In light of today's attack, Congress needs to be asking @NSAgov if it knows of any other vulnerabilities in software used in our hospitals. — Edward Snowden (@Snowden) May 12, 2017 10:12PM How to protect yourself from ransomware Back up your files The greatest damage people suffer from a ransomware attack is the loss of files, including pictures and documents. The best protection against ransomware is to back up all of the information and files on your devices in a completely separate system. A good place to do this is on an external hard drive that isn't connected to the internet. This means that if you suffer an attack you won't lost any information to the hackers. Businesses often save copies of their data to external servers that won't be affected if their main network is attacked. Be suspicious of emails, websites and apps For ransomware to work hackers need to download malicious software onto a victims computer. This is then used to launch the attack and encrypt files. The most common ways for the software to be installed on a victim's device is through phishing emails, malicious adverts on websites, and questionable apps and programs. People should always exercise caution when opening unsolicited emails or visiting websites they are unfamiliar with. Never download an app that hasn't been verified by an official store, and read reviews before installing programs. Read our full guide . 9:30PM FedEx reports malware interference in global cyberattack FedEx has said it is experiencing issues with some of its Microsoft Corp Windows systems. "Like many other companies, FedEx is experiencing interference with some of our Windows-based systems caused by malware," a spokeswoman said in a statement. "We are implementing remediation steps as quickly as possible." 9:12PM 'Emergency care is operating as normal,' says NHS London Director The head of the NHS in London, Dr Anne Rainsberry, says patients who are seriously ill should go to accident and emergency as usual, despite a huge cyber attack on hospitals. 9:07PM Russia's Interior Ministry targeted Russia's Interior Ministry says it has come under cyberattack. Two security companies tell AP that more than 70 countries have been affected by the cyberattack, with Russia the hardest hit. Russian police computers were also affected by the attack. 8:57PM We didn't turn anyone away Rozina Sabur reports: One nurse, who did not want to be named, said: "I work in one of the assessment clinics, we had to write everything by paper but it was ok, in our section we didn't turn anyone away". Another, a stroke specialist nurse, said: "We've been directing patients to Luton Hospital all day where they have a specialist stroke department. It started around 11:30/12 so I'd seen 4-5 patients before that." Patients could be seen leaving the hospital with handwritten medical notes scrawled on pieces of paper. Some described how their relatives had been told to attend their nearest alternative hospitals. 8:52PM NHS Digital's head of security: 'health has never paid a ransom' NHS Digital's head of security Dan Taylor the NHS "must ensure it has good cyber crime hygiene". In a hand-washing analogy, he added: "Think of this as washing your hands before going on to a ward to prevent infection, where cyber hygiene prevents digital viruses such as ransomware." Describing ransomware as a situation where data is "digitally locked" and a ransom is asked for for the unlocking key, Mr Taylor said "health has never paid a ransom". He added: "Instead, organisations have restored systems from back-ups after clearing the infection. But as we have seen recently, this can still lead to days of cancellations to patient facing services." 8:43PM Hospital conditions described as 'primitive' Rozina Sabur reports: Two general surgery ward nurse described the conditions today as "primitive". One said: "the usual notes that we do on the computer we had to do by hand. It's gone back to primitive times." The other described the rudimentary systems that the hospital pharmacy have been reduced to using. "I observed the pharmacy, instead they of the usual computer forms they had to write the medication name and dosage by hand. "We had to use forms from ten years ago because we couldn't use them online. We then had to call people to bring the medicine requests because when we do it online it registers automatically." He said the main things affected were laboratory forms and pharmacy forms. 8:38PM Technology writer Kate Bevan explains how ransomware works 8:26PM Hacking attacks reported in Romania and Russia Romania Romania's intelligence service says it has intercepted an attempted cyberattack on a government institution which it said likely came from cybercriminal group APT28 also known as Fancy Bear. Cyberint, subordinated to the Romanian Intelligence Service, said on Friday it thwarted a cyberattack to a government institution, without saying when it occurred, following notification from NATO and the Romanian foreign intelligence agency. Russia A top Russian mobile operator says it has come under cyberattacks that appeared similar to those that have crippled some U.K. hospitals. Pyotr Lidov, a spokesman for Megafon, said Friday's attacks froze computers in company's offices across Russia. He said that mobile communications haven't been affected. Lidov said that the attack involved demands of payment of $300 worth to free up the system. He added that the company managed to restore the work of its call center but closed most of its offices for the day. Some Russian media also have reported cyberattacks on the Interior Ministry and the Investigative Committee. The committee, the nation's top investigative agency, has rejected the claim. 8:22PM NHS 'will increasingly fall victim to these kinds of attacks' Jamie Moles, Principal Security Consultant at Lastline said: While security remains a low priority for NHS management, they will increasingly fall victim to these kinds of attacks, which will cause serious problems as it results in the cancellation of treatments whilst the affected systems are investigated and cleaned up. The National Health Service is one of the largest organisations in the United Kingdom. With an annual budget in the region of £116 billion, it is a massive target for cyber-attacks and currently, it’s a poorly defended target. There are a number of trusts in deficit and spending on the NHS has dropped in real terms since the recession. Priorities for all NHS trusts are unsurprisingly targeted at medical needs over and above admin and operational needs, but of course this includes IT Security. Interestingly, the NHS takes a very strict and sanitary approach to dealing with these attacks, shutting down almost all of its IT capabilities while it triages and treats the problem. Why would we expect any different from a medical organization? Moving forward if we are to prevent these attacks causing delays to treatment and potentially deaths, NHS trusts are going to have to invest in technology to deal with cyber-threats. There are plenty of good technologies available to assist in this issue and they can be scaled effectively and cost efficiently to cope with massive organisations like the NHS. 8:21PM Former MI6 director: ransomware attacks are 'increasingly common' Nigel Inkster, Director of transnational threats and political risk at the International Institute for Strategic Studies and former MI6 Director for operations and intelligence, says ransomware attacks like the one inflicted on the NHS today have become 'increasingly common'. 7:58PM Extremely Worrying Relatives of NHS patients speak about their fears. Relatives of a patient affected by NHS cyber attack say it is 'extremely worrying as he is seriously ill' #NHScyberattack pic.twitter.com/tjJejPvM7a — Sky News (@SkyNews) May 12, 2017 7:46PM Theresa May reacts The Prime Minister took a break from the election campaign trail to respond to the truly massive global ransomware attack which has done so much damage to the NHS. 7:34PM Scenes of desolation The main reception at Blackpool Victoria Hospital lies abandoned after the ransomware attack hamstrung the operation of the trust. Blackpool Victoria Hospital Credit: Warren Smith/Telegraph 7:24PM Theresa May: NHS not the target Theresa May said the Government is not aware of any evidence that patient records have been compromised in the massive cyber attack on the NHS. The Prime Minister said the ransomware hit was "not targeted" at the health service but was part of a wider assault on organisations across a number of countries. The National Cyber Security Centre (NCSC) is working to support the NHS. She said: We are aware that a number of NHS organisations have reported that they have suffered from a ransomware attack. This is not targeted at the NHS, it's an international attack and a number of countries and organisations have been affected. The National Cyber Security Centre is working closely with NHS digital to ensure that they support the organisations concerned and that they protect patient safety. And, we are not aware of any evidence that patient data has been compromised. Of course it is important that we have set up the National Cyber Security Centre and they are able to work with the NHS organisations concerned and to ensure that they are supported and patient safety is protected. 7:20PM The NHS toll: an update The following hospital trusts have confirmed they have been attacked by the malware: George Eliot Hospital NHS Trust (Nuneaten) Hampshire Hospitals NHS Foundation Trust Hull and East Yorkshire Hospitals James Paget University Hospitals NHS Foundation Trust (Great Yarmouth) Lincolnshire Community Health Services NHS Trust Latest news from GEH Update: Suspected cyber attack at GEH - We are currently dealing with a suspected cyber at... https://t.co/BZ95rLwmI8 — George Eliot NHS (@GEHNHSnews) May 12, 2017 7:07PM The human cost Anthony Brett turned up to St Bartholomew's Hospital in London today for an operation on his liver, but was turned away due to the chaos. A spokesman for the trust said: We are very sorry that we have to cancel routine appointments, and would ask members of the public to use other NHS services wherever possible Liver patient Anthony Brett is turned away from a London hospital Credit: Paul Grover/Telegraph 6:51PM World-wide reach...it makes you WannaCry This map gives a snapshot of the sheer breadth of this ransomware attack. Although the NHS has been badly affected, it shows the health service wasn't the only target. The reach of the WannaCry attack Credit: @Malware Tec 6:42PM FedEx the latest victim US multinational courier service FedEx appears to have been hit hard, according to an online security journalist. Employees have reportedly been instructed to switch off all non-essential Windows systems. FLASH: FedEx USA employees instructed to turn off all non-critical Windows systems on network after WCry compromise starts in UK offices — ZeroTayExploit (@SwiftOnSecurity) May 12, 2017 6:34PM Stay away from 'Clinical Results' This tweet from East Kent Hospitals appears to suggest that the ransomware infiltrated their IT systems in emails with 'Clinical Results' in the subject Trust staff: we are aware of the national cyber attack - DO NOT open any emails that have “Clinical Results” in the title or similar. — East Kent Hospitals (@EKHUFT) May 12, 2017 6:25PM Five more trusts confirmed Five more hospital trusts have confirmed they have been attacked, in addition to the list of 18 we brought you earlier. They are: Cheshire and Wirral Partnership NHS Foundation Trust Burton Hospitals NHS Foundation Trust Birmingham Community Healthcare Trust Aintree University Hospital NHS Foundation Trust 6:21PM Spanish companies hit hard Major Spanish companies have been hit by a cyber attack bearing striking similarities with the onslaught against that has crippled the NHS, according to Madrid journalist James Babcock. Firms such as Telefónica, Spain’s leading telecoms company, were targeted by malware around midday, causing operators’ computer screens to turn blue. Access to files became impossible and a demand for a ransom to be paid in bitcoins flashed up on screens at Telefónica’s headquarters in northern Madrid. Spain’s National Cryptology Centre (CCN), part of the country’s secret security services, conformed in a press release that a “massive ransomware attack affecting Windows systems” had affected “a large number of organisations”. 6:15PM Back to the Stone Age A pharmacist in Yorkshire says it's back to paper notes and no patient histories All shut down in Yorkshire-even in GP practice. Back to handwriting notes while seeing patients without full histories! #nhscyberattack — Chris Maguire (@chris_magz) May 12, 2017 6:07PM Spreading worldwide As well as the NHS, the ransomware had struck telecoms companies, and electric utilities companies. Thousands of dollars was already rolling into Internet accounts set up to handle the ransom payments. Adam Meyers, from cyber security firm CrowdStrike advised against paying. We advise people not to pay, because if people do pay, it emboldens these criminal actors. Instead organisations were encouraged to make sure their data was backed up and copies were kept off networks. Employees had to be educated about which sort of emails to beware of and the latest patches and security updates installed. 6:01PM WannaCry: part of a wider attack of The hack on the NHS appeared to be a part of a wider attack of WannaCry ransomware which is spreading rapidly across Europe, security experts have told the Telegraph. Adam Meyers, vice president of intelligence at the cyber security firm CrowdStrike said it was being spread by people clicking on emails infected with fake invoices and job adverts. Mr Meyers said the ransomware appeared to be relatively new and it was unclear who was behind it. 5:53PM Hacking the NHS 'is easy' The Telegraph's Jamie Bartlett explains how today's strike is a classic example of a ransomware attack . He says that the online purchase of ransomware is one of the fastest growing trades on the internet. Insiders reckon the trade is worth millions of dollars a year. Individual attacks are for sale on the dark net for as little as $39. 5:42PM Like something out of the movies One Twitter posts a conversation between hospital staff. One said: We got a message saying your computers are now under their control and pay certain amount of money. Why would you cyber attack a hospital and hold it for ransom? The state of the world �� pic.twitter.com/e6h6yNrBBB — If.ra (@asystoly) May 12, 2017 5:37PM Mother and son turned away The real-world impacts of today's massive cyber attack on the NHS are beginning to filter through. 5:30PM No guarantee of recovery Cyber crime experts Databarracks say victims of ransomware attacks have got two options: You can either recover the information from a previous backup or pay the ransom. However, even if you pay the ransom, there is no guarantee that you will actually get your data back, so the only way to stay fully protected is to have historic copies of your data. When recovering from ransomware, your two aims are to minimise the amount of data loss and to minimise the amount of IT downtime. 5:24PM Critical or life-threatening only The latest tweets from Colchester Hospital make grim reading.. Our A&E is open for critical or life-threatening situations requiring medical attention, such as loss of consciousness, heavy blood loss... — Colchester Hospitals (@ColchesterNHSFT) May 12, 2017 2/... suspected broken bones, persistent chest pain, difficulty breathing, overdoses, signs of a stroke, ingestion or poisoning. — Colchester Hospitals (@ColchesterNHSFT) May 12, 2017 5:21PM "One by one, the screens were locking down” A shocked worker at Colchester General Hospital described how her office’s computers were “wiped out, one by one”. She said the effects of a hack on modern NHS hospitals could be 'catastrophic'. My computer locked at about 3pm and I couldn’t get anything to work. Then my colleague sat next to me said her computer was down. It swept through the office and everyone was effected and didn’t know what was going on. One by one the computers were wiped out. Nothing was working and switching them off and on did not solve the problems. 5:17PM Not just a British problem? A Milan-based Twitter user has Tweeted a picture of what appears to be a similar ransomware message at what is described as a university. A ransomware spreading in the lab at the university pic.twitter.com/8dROVXXkQv — １２Ｂ (@dodicin) May 12, 2017 5:08PM 'Double in three days' - the demand A screen shot circulated by medical staff shows a warning flashing on screen which reads: “What happened to my computer?” and states that many documents, photos, vidos and databases and other files are no longer accessible. Warning “nobody can recover your files without our decryption service” it then demands payments of $300 dollars - stating that the price will be doubled in three days. Doctors have seen this message on screens across the country Credit: PA 5:04PM The list gets bigger The situation is moving very fast. The Health Service Journal has a list of the hospitals and organisations known to have been hit. A list of NHS organisations who have fallen victims to today's nationwide ransomware attack: pic.twitter.com/LeXTO6YqFI — Shaun Lintern (@ShaunLintern) May 12, 2017 5:02PM Aintree University Hospital 'down' Top radiologist Rashid Akhtar reports that one of Liverpool's big hospitals is affected. Aintree hospital down — Rashid Akhtar (@TheRadiologyReg) May 12, 2017 4:58PM 'Miracle' if on one comes to harm Dominic Marley, a hospital doctor in the Manchester area, gives a grim perspective on the likely consequences of today's attack. No x-rays/bloods/bleeps/phones/notes. This is unprecedented. It will be a miracle if no-one comes to harm #NHS #CyberAttack attack — Dominic Marley (@DominicMarley) May 12, 2017 4:53PM Shocking and Unprecedented Peter Warren, Cyber Security Research Institute said the NHS tends to be 'quite leaky' when it comes to security: This is shocking and unprecedented. It is a historical moment, proving how important cyber security is. It hasn't been taken seriously enough for years, Cyber security is not a priority. The NHS is under pressure on many fronts. They tend to be quite leaky when it comes to cyber security. It is no surprise that this has happened. 4:45PM Cyber Spooks The National Cyber Security Centre are on the case. Sources said officials from the National Cyber Security Centre, a branch of the GCHQ electronic spy agency, said they are working with the NCA, dubbed Britain's FBI, to help health managers. The attack comes only weeks after the NCSC warned that so-called ransomware attacks, where hackers lock up data and demand money to release it, have become one the biggest cyber threats We are aware of cyber incident and we are working with @NHSDigital and the @NCA_UK to investigate — NCSC UK (@ncsc) May 12, 2017 4:42PM Dark Currency Hospitals and GP surgeries appear to have been told to pay $300 dollars - £233 - in order to regain access to their files. The hackers are demanding this is paid in Bitcoins, an unregulated internet currency that authorities find it difficult to trace. 1 Bitcoin is currently equivalent to £1,381. 4:34PM Hospital super boss says everyone has to muck in Chris Hopson, who represents NHS hospital bosses, said trusts will be supporting each other to get through the crisis. The scale and scope of what looks to be an extensive malware attack on the NHS is not yet clear. Given the potential impact, NHS trusts take this type of attack very seriously. They have detailed and well rehearsed contingency plans in place to deal with incidents of this type and these plans have worked effectively when they have been triggered on an individual trust basis in the past. Trusts will rally round support each other to cope with the disruption and early feedback suggests that this is already happening in this case. However, it is likely that some services will be affected, at least in the short term. The trusts affected will now be doing all they can to minimise the impact on patients, and to get their services back to normal as quickly as possible. 4:29PM Files held to ransom Doctors across the country have seen this message - what appears to be ransomware - flash up on their screens #nhscyberattack pic.twitter.com/SovgQejl3X — gigi.h (@fendifille) May 12, 2017 4:24PM NHS confirms it is under attack NHS Digital said: “We’re aware that a number of trusts that have reported potential issues to the CareCERT team. We believe it to be ransomware.” Register Log in commenting policy || A Wall Street bank used bitcoin to prove that NVIDIA is better than its competitors: The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu (The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in TaipeiThomson Reuters) NVIDIA stock is a darling among millennial investors, and bitcoin could be a reason why they are right to love the stock. NVIDIA makes graphics processing units, also known as GPUs or graphics cards, and it competes with companies like AMD. When the average consumer shops for a GPU, they are primarily looking at performance versus price, trying to find the best bang for their buck. That same measure doesn't work as well when you scale that comparison up to giant data centers. Performance and price are important, but hundreds or thousands of GPUs also draw hundreds or thousands of times the amount of power a consumer computer might. Power consumption becomes much more important at larger scales. It's hard to determine how a collection of GPUs might draw power when you only have a couple of them lying around, but RBC analysts did their best, and that is where bitcoin comes in. The whole bitcoin ecosystem relies on individual computers banding together to solve complex math problems. Anyone can use their computer to help solve these problems, a process known as mining. Mining tends to work faster when running on powerful GPUs. RBC took this theory, strung together several GPUs, and tasked them with helping solve bitcoin's fancy math problems. It did this for NVIDIA and several competitors. The idea is that the GPU-intensive process of mining bitcoin would force the GPUs into overtime and make them draw more power. It's as close of an approximation to a full-scale data center as RBC could put together. The firm called it a "thought experiment." The result of the experiment favored NVIDIA processors over competitors like AMD, when comparing power consumption during bitcoin mining. Companies building huge data centers are probably conducting their own research that more closely resembles what they would see at scale, but the RBC experiment serves to illustrate another reason NVIDIA holds the top spot for GPU makers. Story continues As technology like machine learning, augmented reality and virtual reality pick up momentum, demand for GPUs will increase in order to run the graphics intensive technologies. If NVIDIA maintains its lead in power consumption, it could capture more of the growing demand, and see its shares rise in the process. RBC has a price target of $150 for NVIDIA, about two dollars higher than where shares of the company opened on Tuesday. Click here to watch NVIDIA shares move live... NVIDIA (Markets Insider) NOW WATCH: 9 phrases on your résumé that make hiring managers cringe More From Business Insider Bitcoin is getting close to its all-time high There's an easy way to bet on bitcoin — but it'll cost you Bitcoin is taking off after China's biggest exchanges allow withdrawals || Bitcoin plunges $200 after cyber attackers demand ransom using the digital currency: Bitcoin plunged from a record high hit last week to below $1,700 after cyber attackers locked up data in 200,000 computers Friday and demanded ransom in the digital currency. "It's a big hit to sentiment," said Brian Kelly, CEO of BKCM. "This is some negative publicity for bitcoin." Bitcoin fell more than $200 from an all-time high of $1,848.75 reached Thursday to a low of $1,644.64 Friday. The cryptocurrency steadied over the weekend and on Monday traded more than 5 percent lower on the day near $1,676.42. One-month bitcoin performance Source: CoinDesk A virus called WannaCry hit 200,000 computers in at least 150 countries on Friday, according to the head of the EU police agency . The hackers demanded, for each computer, $300 in bitcoin within three days to unlock the files and threatened to double the fine after that, before permanently preventing access after seven days. Cybersecurity firm Check Point (NASDAQ: CHKP) warned in a blog post Sunday not to send any funds as no one who had paid had yet reported receiving their files back. Relatively few have paid the ransom. CoinDesk Research Analyst Alex Sunnarborg said Monday that $51,300 in 193 transactions were sent to the three bitcoin addresses connected to the malware. Pickup in Chinese trading volume In addition to profit-taking on the hacking, Kelly attributed bitcoin's decline Monday to a drop in prices on the Hong Kong-based Bitfinex exchange, where prices had been artificially elevated due to withdrawal restrictions. Expectations that those restrictions will soon be lifted brought Bitfinex prices for bitcoin closer to the lower price of other exchanges. "A little bit of a price support has been removed," Kelly said. Chinese trading volume more than doubled its share, from 8.2 percent on May 1 to 22.8 percent Monday, according to analysis from Sunnarborg. Even with the decline of the last few days, the volatile cryptocurrency has nearly doubled in value since the end of March. More From CNBC Dow jumps 100 points as Cisco leads; S&P and Nasdaq hit record highs This is how cybersecurity stocks trade after a big attack Early movers: SYMC, PANW, FEYE, PTHN & more || Ransomware Attack on DLA Piper Serves as Warning Sign for Law Firms: By now, every managing partner has heard the warning: Law firms and their clients' sensitive information are a treasure trove for hackers.
But theransomware attack Tuesday on DLA Pipersounded a different type of alarm for Big Law. The world's biggest firms are just as prone to ransomware attacks as any other company, and thepotential ramificationsof a network-crippling malware infection are wide-ranging for a service industry thatholds the legal fate of corporationsin its palm.
Consider litigators unable to access motions on a deadline. Trial lawyers preparing for arguments without key documents. Transactional lawyers unable to communicate with clients attempting to close multibillion-dollar deals.
The domino effect of doing something like this to a law firm permeates so many different parts of business, said John Sweeney, president of LogicForce,a startup cybersecurity consulting firm. Suffice it to say, it's going to touch hundreds if not thousands of different points of business, and not only in the U.S. It's a nightmare, there's no doubt about it.
Phone lines at DLA Piper were down Tuesday across Europe and the U.S. According to aphoto tweeted by Politico reporter Eric Geller, DLA Piper employees in Washington, D.C., were instructed not to turn on their computers and to unplug their laptops from the network.
All network services are down, a whiteboard read in what appeared to be the firm's lobby.
A DLA Piper spokesmanconfirmed the firm had been the targetof what it believed may be a malware attack that on Tuesday had impacted a large number of organizations across the globe, includingpharmaceutical giant Merck & Co. Inc.
The firm, like many other reported companies, has experienced issues with some of its systems due to suspected malware, said DLA Piper's statement. We are taking steps to remedy the issue as quickly as possible.
Much like theWannaCry ransomware attack that spreadthroughout the globe in mid-May, the new round of attacksreportedly requests a payment of $300 in Bitcoinin order to obtain a decryption code that may unlock an organization's files.
While security experts were still scrambling Tuesday to determine the extent of the encryption or any other damage levied by the newest batch of ransomware,at least 27 organizations appeared to have paidthe ransom as of early Tuesday, according to a blockchain transaction record.
A study released Tuesday by LogicForceshows the ubiquitous risk of hacking for law firms. The company surveyed more than 200 firms and found that all had been subjected to hacking attempts, while 40 percent of those attempts were successful. What's more, the 40 percent of firms who had been hacked were unaware of it, according to the report. Sweeney said DLA Piper was not included in his company's survey.
In response to being hit by ransomware, Sweeney said firms should perform a detailed investigation of their systems involving forensics professionals to determine how the ransomware attack entered their network. Part of that investigation should including attempting to mitigate any more damage that could occur.
The best-case scenario in some ransomware attacks would be having an incident response plan in place that involves an off-site server back-up that could potentially restore the systems' computers, said Robert Rosenzweig, another cybersecurity expert and national leader of the cyber practice at insurance brokerage Risk Strategies Co.
LogicForce's Sweeney commended DLA Piper for issuing a public statement about the ransomware attack, something few law firms have done or been forced to do.
Can they circumvent whatever's been done to their systems and get back online? I don't know. That would be the best option, Sweeney said.
One fallout from the attack may be a renewed interest from law firms inpurchasing cybersecurity insurance. The LogicForce survey states that 23 percent of firms polled had cybersecurity insurance policies. Those policies will pay for direct expenses associated with a hack, such as the cost of the ransom; hiring forensic investigators; and bringing on a legal team to advise the firm of its potential risk.
For damage done to clients as a result of a firm losing its ability to service them or their confidential data getting into the wrong hands, it is possible a firm would have coverage under a more traditional legal malpractice insurance policy, Rosenzweig said. He said a business interruption component in a cybersecurity policy may also provide some relief, but added that a loss of a law firm's ability to service its clients due to a cyber breach could have long-tailed repercussions.
The risk and the potential for a complex and expensive loss is a lot more significant, Rosenzweig said.
The increased risk of ransomware attacks may also cause more law firm clients to perform cybersecurity audits as part of their hiring process, said LogicForce's Sweeney. His firm's report states that 34 percent of firms reported undergoing a cyber audit from a client, and LogicForce expects that number to grow to 65 percent by 2018.
More and more clients are demanding these audits, Sweeney said. And quite frankly we're seeing some law firms losing business because they can't comply with the audit.
Roy Strom, based in Chicago, covers the business of law with a focus on how the Big Law business model is changing. He can be reached at [email protected]. On Twitter: @RoyWStrom. || Blog Coverage British Oil Company Expected to Sign Azerbaijan Contract by June 2017; Existing Deal to Expire in 2024: Upcoming AWSCoverage onAegean Marine Petroleum Network Post-Earnings Results
LONDON, UK / ACCESSWIRE / June 2, 2017 /Active Wall St. blog coverage looks at the headline from British Oil Company BP PLC (NYSE:BP).The Company is expected to sign a contract at the end of June extending its production sharing deal for Azerbaijan's biggest oilfields until 2050, according to the Company's regional head's statement on May 31, 2017. With the existing deal set to expire in 2024, BP-led consortium and Azeri state oil firm SOCAR signed a letter of intent in December to continue developing the giant Azeri-Chirag-Guneshly (ACG) offshore fields until 2050. Register with us now for your free membership and blog access at:http://www.activewallst.com/register/.
One of BP PLC's competitors within the Major Integrated Oil & Gas space, Aegean Marine Petroleum Network Inc. (NYSE:ANW), announced on May 23, 2017, its financial and operating results for Q1 2017 which ended on March 31, 2017. AWS will be initiating a research report on Aegean Marine Petroleum Network in the coming days.
Today, AWS is promoting its blog coverage onBP; touching onANW. Get all of our free blog coverage and more by clicking on the link below:http://www.activewallst.com/register/.
The Development Agreement
On December 23, 2016, The State Oil Company of the Republic of Azerbaijan (SOCAR) and the Azerbaijan International Operating Company (AIOC) signed a letter of intent for the future development of the Azeri-Chirag-Gunashli (ACG) field in the Azerbaijan sector of the Caspian Sea. The agreement included the development of the field until 2050 and will add significant resource potential to the middle of the century.
The ACG Field
ACG is a giant field located about 100 km east of Baku. The field covers an area of more than 432 square kilometers and is the biggest producing oil field in the Caspian Sea. The depth of the reservoir is around 2000-3500 meters and lies in the water depth of between 120 to 170 meters. The existing ACG PSA was signed in September 1994 for 30 years. Oil Production from the field began in November 1997, and as of December 23, 2016, the field has produced more than 3 billion barrels of oil with around $33 billion of investment.
There are six producing platforms on ACG, linked with a world-class onshore terminal in Sangachai near Baku. From the terminal, oil is exported to world markets primarily by the Baku-Tbilisi-Ceyhan oil export pipeline and the Western Export Pipeline to Supsa. British Oil Company currently is the operator acting on the behalf of AIOC and the Contractor Parties to the ACG Production Sharing Agreement.
The BP-ACG Relation
BP first arrived in Azerbaijan in June 1992, when it opened its first office in Baku. In the last 25 years, BP has partnered with the Government of Azerbaijan and its co-venturers, BP-operated projects, Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan (BTC) and South Caucasus Pipeline (SCP), have contributed to the development of the Caspian Sea as a modern hydrocarbon province.
In the Caspian, the Company operated two giant fields, namely, the ACG (Azeri-Chirag-Gunashli) and SD (Shah Deniz) gas fields. These fields are directly linked to the local and international markets via an expansive export system, including a complex subsea pipeline infrastructure and connected with the Sangachai terminal, three export pipelines with a total length of 3,300 km connected with marine export systems on the Black and Mediterranean Seas.
Azeri's President, Ilham Aliyev, stated on May 31, 2017, that he expected the contract to be signed soon, speculating the final intent to reach an agreement with investors at the Caspian Oil & Gas Conference in Baku.
Stock Performance
On Thursday, June 01, 2017, the stock closed the trading session at $36.24, marginally up 0.25% from its previous closing price of $36.15. A total volume of 6.48 million shares have exchanged hands, which was higher than the 3-month average volume of 6.43 million shares. BP PLC's stock price surged 6.21% in the last three months, 8.11% in the past six months, and 15.63% in the previous twelve months. The stock is trading at a PE ratio of 55.16 and has a dividend yield of 6.62%. The stock currently has a market cap of $120.21 billion.
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SOURCE:Active Wall Street || The No. 1 interview mistake job candidates make is surprisingly simple: In previous jobs, and now in my role as a managing editor at CNBC, I've conducted dozens of job interviews. I've seen the good, the bad and the ugly, and I'm constantly amazed at the basic things that candidates screw up . The No. 1 thing that can ruin your job interview is surprisingly simple: Displaying low energy. I've seen it plenty of times myself and have heard it from many different hiring managers. While it can be hard to define what exactly "low energy" means, here's what it typically looks like: Slumped shoulders Lack of eye contact Slowness to respond to questions Not smiling Flat speaking voice Leaning back in the chair Not asking questions A general lack of enthusiasm It comes down to a simple truth: If you don't clearly want the job, it's near impossible to persuade someone to give it to you. Kate White, the former editor-in-chief of Cosmopolitan, underscores this point in her career advice book "I Shouldn't Be Telling You This." After years of analyzing why some candidates dazzled and others disappointed, she realized the ones she liked seemed excited to be there. "There's even a little bounce to their step when they walk into the room, and you may sense that bounce even when they're sitting in the chair talking to you," she writes. "They want the job, and they're not afraid to show their passion." White says too many people tamp down their enthusiasm because they're nervous or worried about seeming unprofessional, and it's the worst mistake you can make. "Here's what you must remember: It's the hot tamale who wins the day, not the [candidate] who's as cool as a cucumber," she says. What can you do to make sure the interviewer sees how much you care ? Start by smiling wide and sitting on the edge of your seat with your feet firmly planted on the ground. Come prepared to talk about why you're a great fit and what you've achieved in the past. Ask lots of follow-up questions. Energy is contagious. If you show that you're excited about the job , the hiring manager is much more likely to be excited about you. Story continues See also: The 11 most common job interview mistakes And don't miss: Marcus Lemonis reveals the one question job candidates should never ask in an interview. More From CNBC BBQ, Bitcoin, Brazil and the other top stories that could hit you in the wallet 3 ways you can be more productive in the morning Why leaders need term limits || Goldman Sachs: This is Bitcoin’s Sweet Spot: Even though Bitcoin has been called a bubble , investors who have hungrily watched Bitcoin’s price soar 290% over the past year from the sidelines still have a chance to win big. Or at least that’s according to analyst Sheba Jafari. On Sunday, the banking giant sent a note seen by CNBC that said Bitcoin, now priced at $2,568 a piece, could fall as low as $1,857 before bouncing to a much higher valuation between $3,212 to $3,915. That means if an investor watches the cryptocurrency carefully and times it perfectly, they could gain as much as 110% on their initial investment. Granted, that would take quite a bit of patience, with Goldman acknowledging that “it might take time” to hit $3,915. Read: Can Bitcoin's First Felon Help Make Cryptocurrency a Trillion-Dollar Market? If Bitcoin were to hit $3,915, then that would add another $22 billion in market capitalization to cryptocurrency, which is up 53% from Bitcoin’s current market capitalization of $42 billion. That comes as the cryptocurrency has fallen from a high of just over $3,000 in mid-June, with investors, including Mark Cuban, warning that Bitcoin’s price has already peaked . See original article on Fortune.com More from Fortune.com Bitcoin Nears Bear Market Territory What Bitcoiners Are Doing to Fight Ransomware Here's When You Should Buy Bitcoin and Ethereum VC Firm Homebrew Considering an ICO to Raise its Next Fund Bitcoin Exchange Hacker Sentenced to Nearly 6 Years in Prison
[Random Sample of Social Media Buzz (last 60 days)]
$2703.46 at 09:00 UTC [24h Range: $2625.01 - $2740.00 Volume: 10683 BTC] || HK Warehouse Blackview BV6000S IP68 - 4.7 Inch Gorilla Glass, 4200mAh
+++++ pay bitcoin +++++
((( or any other CRYPTO ))) pic.twitter.com/T7jxgO9pF8 || #bitcoin #miner Bitmain AntMiner S5 ASIC Bitcoin Miner - Used $140.00 http://ift.tt/2sUxXsB pic.twitter.com/7jbfKMLUkY || : You Won't Believe This Stupid New Law Against Cash And Bitcoin http://5ux.com/news/you-wont-believe-stupid-new-law-against-cash-and-bitcoin … || Current price of Bitcoin is $2408.92. || BTC Real Time Price: ThePriceOfBTC: $2477.41 #gemini;
$2488.01 #GDAX;
$2482.00 #bitstamp;
$2483.39 #kraken;
$2485.12 #btce;
$2480.07 #itBit… || Earn Bitcoin while playing games on Faucet Game! http://faucetgame.com/r/7771707 #bitcoin #casino #faucet #game #faucetgame || I blame @NivekZitro for telling me years ago that bitcoins are stupid. || 1 BITCOIN = Rp30.700.900,00 (http://Bitcoin.co.id )
hahahaha siap2 panen dari Exscudo :v || #Bitcoin Price: USD $2464.78 $BLX http://ow.ly/4naJD6 pic.twitter.com/bDtStNM0xp
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Trend: down || Prices: 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88
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